Today the Senate Energy and Natural Resources Committee narrowly passed an amendment to repeal the outer continental shelf deep water and deep gas royalty relief provisions included in the 2005 Energy bill. The amendment was offered by the committee’s Chairman, Senator Jeff Bingaman (D-NM), during this morning’s mark-up of the Senate energy bill. The amendment repeals sections 344 and 345 of the Energy Policy Act of 2005.
TCS has long opposed royalty relief for the oil and gas industry. For nearly a century the oil and gas industry has received billions in subsidies and in the last several years has enjoyed record-breaking profits. We applaud Senator Bingaman and the committee on the passage of this amendment.
Bingaman (D-NM), Dorgan (D-ND), Wyden (D-OR), Johnson (D-SD), Cantwell (D-WA), Menendez (D-NJ), Lincoln (D-AR), Sanders(I-VT), Bayh (D-IN), Stabenow (D-MI), Udall (D-CO), Shaheen (D-NH)
Landrieu (D-LA), Murkowski (R-AK), Burr (R-NC), Barrasso (R-WY), Brownback (R-KS), McCain (R-AZ), Bennett (R-UT), Bunning (R-KY), Sessions (R-AL), Corker (R-TN), Risch (R-ID).
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