Keystone XL Pipeline Act

Floor Speech

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Mr. VITTER. Madam President, I have an amendment on this important
bill at the desk, amendment No. 80. I am not going to offer that
amendment now because the minority side is blocking the offering and
calling up of additional amendments until we dispose of those presently
called up. I want to do that right now. But hopefully, I will be doing
that in the very near future. I look forward to a full debate and a
vote on this amendment, probably in the next tranche of amendments on
the bill.

My amendment is about energy. It is about a very crucial part of the
domestic policy, something I believe will absolutely be a huge positive
incentive and factor to allow us to produce even more American energy,
to become even more energy independent, and to provide an even greater
boost to our economy; that is, through revenue sharing, sharing the
revenue produced by domestic energy production with the producing
States.

That is fair for two reasons: one, because those producing States do
bear costs and burdens and impacts, including environmental impacts,
and, two, providing that incentive is the most important way we can
boost even further important domestic energy production. That energy
production is vital for our country and our economy. In fact, we are
not in recession right now because of those U.S. energy jobs.

If it were not for those oil and gas and related jobs in America, we
would still be in a technical recession right now. Last night President
Obama talked glowingly of the state of our economy. I think he
exaggerated that significantly. However, we would be in a technical
recession and we would be in a far different and worse place were it
not for those domestic oil and gas and energy jobs. That is what this
amendment would boost and would improve even further.

Again, the heart of this amendment is revenue sharing, establishing
and expanding revenue sharing for producing States. So rather than all
the royalty and revenue produced by this domestic production just going
to the Federal Treasury, we need to share that. A lot will go to the
Federal Treasury. Most will go to the Federal Treasury. But we need to
give producing States a fair share.

Again, as I stated, that is for two reasons--two very important, very
basic reasons. First of all, those States bear a burden. They have
impacts from that production, including environmental impacts. They
need funds to deal with those impacts. It is manageable and it is worth
doing, but there are impacts.

Secondly, and maybe even more importantly, providing that revenue
sharing for producing States--host States--is the most important way
that we will get more producing States, that we will get more host
States, that we will have more American energy. So that is what this is
all about.

My amendment, again, will be amendment No. 80. I look forward to a
vote on the Senate floor soon. It is simple and straightforward. It
does several important things. First, it would expedite Outer
Continental Shelf lease sales and move forward with a positive OCS
lease plan. By expediting leasing and opening up more areas to
production, we can create jobs and further enhance and build our
manufacturing renaissance and our American energy revolution.

In recognizing concerns for production in the North Atlantic Planning
Area as well as the North Aleutian Planning Area in Alaska, this
proposal excludes lease sales in those particular regions. Secondly,
the bill would increase revenue sharing for Gulf States, and it would
establish revenue sharing for brand new production in other areas, such
as Alaska and the east coast.

Again, revenue sharing is fair, and it is the most powerful, positive
thing we can do to get more States into the act in a positive way of
producing American energy, helping our economy, and helping our energy
independence. So that would provide revenue sharing for the first time
for the Atlantic States of Virginia, North Carolina, and South
Carolina. It would provide that revenue sharing for the first time for
new production we would be authorizing for Alaska--a clear net gain for
North Carolina, Virginia, South Carolina, and Alaska.

This is critical. I know my colleagues from those States are all very
supportive of that offshore energy activity. So again, for Alaska, for
the first time, Alaska would enjoy revenue sharing with the potential
for significant dollars from offshore production going to Alaska. Now,
one might ask: What about the Federal revenue impact? What about the
fiscal impact? This amendment is fully offset in terms of the Federal
Treasury. It is fully offset with revenue from two sources: No. 1,
expedited and increased lease sales in our OCS that will produce more
Federal revenue, and No. 2, trimming our Federal workforce by
attrition, a policy laid out by the Simpson-Bowles Commission--
bipartisan, straightforward, and exactly what we need to do in a
fiscally responsible way.

Now, on that piece, the legislation would not fire anyone. It would
simply reduce the Federal workforce through attrition. For every three
Federal workers who retire, only one could be hired. That is exactly
what Simpson-Bowles proposed. Two exemptions exist to this rule that
could be used by the President in a state of war or extraordinary
emergency--again, exactly the Simpson-Bowles proposal.

This amendment is very important in the area of energy and to be fair
to producing States and to be a powerful incentive--the single most
powerful incentive possible to get more producing States, more American
production into the act. That is vital for our energy independence. It
is also vital for our economy. This amendment, No. 80, would be a big,
positive boost over time for our economy.

As I said, right now we would be in a recession still were it not for
those American energy jobs. That energy renaissance has led the way in
our economy. But for those jobs, we would still be in a recession. This
can make a good thing better. This can provide more incentives to go
further in a powerful, responsible way. It will also be a responsible
way on the environment.

Let me note that in Louisiana, you know what we do with our revenue
sharing? We spend all of it on environmental concerns, mostly coastal
restoration. We are losing our coastline. We are losing a football
field of Louisiana costal area every 38 minutes--every 38 minutes, 24
hours a day, 7 days a week, 52 weeks a year. That is the biggest
environmental issue we have by far. That is what this money goes to in
Louisiana--proper environmental stewardship.

So with that, I urge bipartisan support of this important amendment.
I look forward to formally calling it up soon, after we vote on the
pending amendments early this afternoon. I look forward to a vote on
this on the Senate floor--hopefully, a strong bipartisan vote.

I yield the floor.

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