Oil and Gas Lease Sales

Floor Speech

OIL AND GAS LEASE SALES -- (House of Representatives - March 10, 2009)

(Mr. FLEMING asked and was given permission to address the House for 1 minute.)

Mr. FLEMING. Mr. Speaker, the Interior Department is going forward with the oil and gas production lease sale in the central Gulf of Mexico. I welcome the Interior Secretary to my home State of Louisiana this March.

While visiting our great State, I would like to remind Secretary Salazar that although it is a positive gesture to move forward with this lease sale, the benefit of these leases will greatly be diminished under tax hikes--that is removal of exploratory incentives that are included in this administration's budget proposal.

This $30 billion tax increase could devastate an industry that directly and indirectly employs over 300,000 Louisianans. This tax increase will wreak havoc on small independent producers and third-party services. It will also continue to perpetuate the cycle of high fuel prices and our addiction to foreign sources of energy who want to see our democracy fail.

In short, this proposed budget does nothing to solve our energy needs. If anything, it will lead to more cost and massive job loss for many Americans, especially in Louisiana, who are suffering in this economic recession.

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