Transcripts For CSPAN Capital News Today 20100723 : comparem

Transcripts For CSPAN Capital News Today 20100723



this disaster has foecused people's attentions on is oil spill response technologies. it has been recognized by us and players in the industry. i think that is one of the reasons why yesterday we saw the four largest majors come forward with the outlibrarines of a pla deal with oil spill containment in the gulf of mexico. i think that this disaster has focused people's energies and it will stimulate innovation. we will be directly involved in that process. the proposal that was made yesterday is an interesting intriguing one. but we will want to review and study it carefully. it is one that we, and you and the american public is going to need to have confidence in. >> mr. isa for five minutes. >> thank you, madam chair. just one quick question, you know mr. secretary that your decision was arbitrary. in light of what you said earlier today, would you say that resources that are freed up at the time of the kill of this well could just as easy be the end of the moratorium? as you said earlier, clearly there were resources that you didn't want to have not available as one in 50,000 wells happened a second time. but wouldn't a target of the killing of this well be just as appropriate for considering limited well-super viwell-super back into exploration of the existing 22 rigs? >> congressman, i appreciate your observation and i appreciate the sense of urgency that you have that these issues be addressed. but there is a tremendous amount of work that will be unfolding. i will have a report back from the oversight safety board which includes great work from the in specker general and her staff that are focused in on these issues which is due on i believe on august the 15th. the academy will have a report more knme by october 31st. so, if there is a point in time between now and november 30th, where the three questions that i have already addressed are addressed to our satisfaction, we will revisit that timeline. >> i appreciate that. i yield the balance of time to mr. fortenberry. >> thank you for joining us today. this oil spill is an environmental ca tkcatastrophe. we must work together to make thur that the leak is continuing to be stopped and that the environment is cleaned up and that we work with the resources we have to make sure that this never happens again, in that regard, your reasoning for the moratorium is that our resources are currently deployed and depleted and in case there was a second spill like this we would not have the resources to work against it. but given that there is the potential for this leak to be permanently stopped in the near term, your consideration of that factor in terms of the moratorium deadlines i think is reasonable. the second point being given that the resources that are applied are under intense pressure to move overseas and that this would cause more imported oil to come into our waters, mortane tankers that ar more dangerous than the drilling itself. is the moratorium timeline more risky? a related point is that all drill something not the same. bp was engaged in the riskiest type of drilling. is there a krarconsideration th those may be excepted as well given that the profile is lower? >> congressman, the answer to that is yes. and that is part of what the director will be gathering information on. there may be different activities and different zones of risk that might be allowed to go forward. we have made one of those findings with respect to the sha shallow water drilling and there may be others as we move forward. >> seg men station of risk based on the actual hhistorical past,s of risk rather than a blanket moratorium? >> there may be for example, differentiation between the expiration wells in the deep water and wells that are being drilled into already develop ed reservoirs that you know exactly what it is that you are drilling into as opposed to the exploratory type of wells. so those are the distinctions that we will be taking a look at in the months ahead. >> i think the last thing that we want to do is increase pressures for more water. with that said, i want to point out that i visited the area recently. these people are exhausting themselves to save their way of life and the environment -- >> i think you are heard. >> your time has expired. >> i had a good video for you, but we'll have to do it at another time. >> miss maloney. >> thank you madam chair and i thank you both for your testimony the devastation of the bp oil spill has highlighted many problems in worker's safety and containment and oversight. but it has especially highlighted the missmanagement of the mms, the minerals and management service agency which if managed appropriately could bring in millions if not billions to our treasury from oil extracted from land owns by the american people. under the current structure, the general accounting offices found that the mms should do a great deal more to improve the accuracy of the data used to collect and verify the oil royalties, and i have a bill in hr-1462, which would require the national academy of engineering to study and come forward with impro improvements and rem decisions of ways that we could more accurately collect the royalties on the production of oil. i would like mr. secretary, if you would review it and this could be helpful in defining it in a way that we could be more successful in giving the american people the taxpayers their just reward or their just tax revenues or revenues from this oil. according to the general accounting office report, that was given to this committee, the revenue share that the government collects from oil and gas produced in the gulf ranks 93rd among the lowest of the 104 revenue collection regimes around the world. are we 93rd in collection? >> i have not -- i cannot comment on that statistic. but we have been collecting recommendations from the accounting office as well as recommendations that came forth from the kerry-garns commission that addressed many of these issues. at the end of the day, what we are looking at is to achieve the objective to make sure that we are getting a fair return back. >> did you testify earlier that this has not been updated since the 1920s? in your statement? >> no, dinod not. that is something which we have been reviewing and do believe it should be changed. >> so that has not been updated since the 1920s. we certainly should look at that and bring it into the 21st century. also the gao reported that mms does not audit oil and gas company royalty numbers, is that correct at this point? that was the gao report. >> there are auditting functions that do occur. we do collections from companies where they have under paid and that does happen on an ongoing basis. we are in the process of implementing numerous recommendations from gao as well as those from our inspector general. >> but is it fair to say that we could be under collecting by mill ions possibly billions in this royalty program? >> i think it is fair to say that there is under collection that is taking place and it really revolves around two key issues one is the measurements relative to the oil and gas that is being produced against which the royalties are being leveed and secondly, the royalty level itself and whether or not that is the appropriate royalty level. >> and that is what my bill would look at to look at more accurate measurements and compare with other countries. also -- in the -- they are call me to a vote. this is an important area and we need to move into the 21st century. why in the world are we rated solo 93rd in the world in the royalty payments coming from the gulf? and did you tef eastify earliert you had written bp for royalty payments of $5 billion, is that what you said? >> no, there was an underpayment by bp with respect to on-shore activities in the best. the royalty program now in effect -- >> how much was their under payment? >> your time has expired. >> can he answer that question? >> as i recall, it has been several weeks ago, for that particular issue it was about $5 million. >> thank you. >> mr. salazar i announced that you had to leave at noon and i will abide by that and not even ask my own question. i know that you understand as a former member of congress when bells ring, i speak for the chairman when i thank you both for very important testimony here today. the hearing is in recess until after the vote. >> thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> here at c-span we recently made the switch to high- definition television. on "washington journal", we spoke with the franklin plan board, the first cable system to carry c-span in hd. morning i want to tell you about a new step in c-sp growth and development. c-span is transmitting all of s programming in hd. we are welcoming our very first high-definition affiliate's this morning in frankfurt, ky. we want to introduce you to the gentleman who runs the cable system, john higginbothom, who joins us from on board the digital bus. nice to see you again. guest: good morning, susan. host: we figured state capitals are full of polical junkies like those in wasngton there why did you make the decision to launch c-span hd there? guest: that is exactly why. a lotf things that happen in washington, back to frankfurt, kentucky, and the people in this community pushed out to the state and implement all of the programs. we have 17,000 subscribers. not every single one is a political junkie but a lot are. host: tell us a little bit about the frankfort system because it >> an actor, water, cable, telecom be visible utility. the cable system started in 1952. we offered the exact same services the big guys do, time warner and cox. voice, video, data, a lot of high-definition over the next couple of months. host: is the legislature on television in kentucky? guest: they are. kentucky educational television, our state-one pbs the house and senate. and we have had a longstanding relationship with them. they only meet a couple of months out of the year so most of the viewers. host: you have been a great if elliott, the first in the nation to launch c-span hd. we thank you for being on today because c-span hd will be available to subscribers of the country. you just need to tell your cable system you are interested. if they know you are interested they will certainly consir it. mr. hignbothom, the digital bus -- tell us what you did at the state capitol? guest: we will move the bus and a couple of minutes and it will be open to the community the remainder of the morning and afternoon and we hope to have quite if you stop by. we appreciate the bus coming here. host: we appreciate our state capital affiliate's and we appreciate that you are our very first hd affiliate and we hope to more signing on soon. john h higginbothom with us from >> tomorrow's "washington journal," charles drevna. the federal worker hired then rehired -- fired and rehired by the agricultural department. >> this weekend, clark hoyt on the changing world of the newspaper industry. >> i worry about some of the standards and maintaining journalistic integrity as we move from one meal world to another. >> sunday night -- from one of media world to another. >> sunday night on c-span. >> c-span is now available in over 100 million homes, bringing you washington your way. >> senate majority leader harry reid outlined an energy bill that he says will receive bipartisan support. he is joined at this event by senator john kerry and carol browner, the head of the white house office of energy and climate change. this is 15 minutes. >> we have a responsibility, not only to our constituents and our children and grandchildren to take on the energy giant's we have an america, not once, -- energy challenge we have in america, not once, not twice, but more. we need a comprehensive bill that creates jobs, fix our addiction to foreign oil, and curb pollution. at this time, we do not have a single republican to work with in achieving this goal. for me, it is terribly disappointing. it is also very dangerous. the president, senator kerry, and i and others, large numbers of my caucus, will continue to reach out to republicans and work with and permanent the date work with environmental and energy committees. -- and work with environmental and energy committees. it is to lay the foundation for a state for -- for a safer and stronger future. we will hold bp accountable to ensure that the clean up their mess and things like this that happen in the future and stop them from happening. if they do, there will be a process to move forward. number two, we need to lessen their dependence on foreign oil current that is very important. our country is blessed with abundant resources and we must tap into natural gas. that is why we will invest in the manufacturing of natural gas vehicles, mainly the big trucks. no. 3, we need to do something to create jobs. whole story is something that has been talked about and now we're going -- home star is something that has been talked about and now we're going to regulate it. this, like the menendez hatch legislation, is bipartisan. finally, the fourth provision of this bill will be something that many have worked on in congress for a long time. that is to put some money back in the land and water conservation fund, which is essential to the future environment of this country. senator kerry. >> i want to thank senator reid for his cigna vitter leadership of the last several years -- for his significant leadership over the last several years. over the past year-and-a-half, working with senator reid, we have had hundreds of meetings and negotiations. we have built on an unprecedented coalition of support, which has moved us further along in this process than at any time in this effort. today, we have support from industries and stakeholders that have opposed previous bills. that is a very important achievement. but we have always known, from day one, that, in order to pass comprehensive energy legislation, you have to reach 60 votes. to reach those 60 votes, you have to have some republicans. as we stand here today, we do not have one republican. i think it is possible to get there. this morning, senator lieberman and i had a meeting with one republican who has indicated a willingness to begin working toward something. harry reid, today, is committed to giving us the opportunity, that open door, if you will, over the next weeks, days, months, whatever it takes to find those 60 votes. the work will continue every single day. in the meantime, as senator reid has just said, we have an obligation to the american people. we have an obligation to our country. that is to respond to the oil spill in the gulf. that is why senator reid is going to bring this admittedly narrow, limited bill to the four because he is determined to do what we can in the timeframe that we have before the august break. that will address some of our energy independence -- some of our energy dependence and some of the oil spill issues. but maybe crystal clear. as senator reid said, this legislation that he has proposed does not replace climate legislation. it does not replace comprehensive energy legislation. president obama called me before this meeting and said point blank that he is committed to working in these next days at a more intensive pace, together with carol browner and other members of the administration, to find the 60 votes for the comprehensive legislation. the leader is committed to getting that comprehensive legislation to the floor as soon as possible. senator lieberman and i will continue to work with their colleagues and the stakeholders in order to carve a path to 60 votes for comprehensive legislation of that appropriately targets carbon so that we can send signals to a market place and change the direction and create jobs for america and improve our security. the work we have done over the past year-and-a-half will remain the foundation for all of this effort. i want to say to all of you, on a personal level, i watched ted kennedy over 26 years fight to get tough things past. in 1970, he began that effort to pass health care reform. we just got it this year. this is not good to take that long. this is not going to take close to that long. i'm absolutely confident that, as the american people make their voices heard and their colleagues go home and listen to them, we're going to grow in our ability to be able to pass this. i just want to thank those who have helped bring this issue a long way. we have had remarkable caucus of 20 senators plus who have made -- who have met week after week. in the 26 years have been here, i have never seen as many senators from is made from pieces come together consistently to move legislation forward. that effort designed to continue and i am grateful to senator reid and to the president for their commitment to put this country on the right path. >> thank you. let me start by thanking senator kerry and all of the members that we have worked with to craft a comprehensive energy legislation. we appreciate your commitment and your leadership. the president has made clear throughout his campaign and since coming to office that we need to have a comprehensive energy policy for this country, and a policy that will break our dependence on foreign oil, that will create a new hat in generation of energy calves and that will put a limit to pollution. the president has taken steps to address this problem. we are addressing -- we are investing $80 billion toward creating new clean energy jobs and technology. we have set tough new energy efficiency standards for cars. we will continue to use our existing tools to address these problems. obviously, everyone is disappointed that we do not have agreement on comprehensive legislation. we will continue to work with the senators to craft important legislation. in the meantime, the leader has suggested that there are steps we can do today, important steps, and we support his decision to move forward and to take those steps so that we can begin this process. we will work with him in the coming week to see if we cannot achieve passage of the chief legislation while we continue to work to secure a comprehensive energy and climate change in legislation. thank you. crux questions -- >> questions? >> [unintelligible] >> each provision we have is bipartisan. of course, the second provision night talk about is menendez- hatch. the third one, home star, there are a number of public statements from republicans who say they like the program. i personally talked to a number of republicans. so the answer is yes. >> [unintelligible] >> i would not be moving on this if i did not think that. >> are you committed to [unintelligible] >> i am committed to taking this up now. this is going to move to the floor before this week goes out. make sure that we all understand that this is not the only energy legislation we're going to do. this is what we can do now. we are running out of time because of all the delays we have had on the senate floor over the last year. we're much to continue to work on energy legislation. thus speak about this briefly. the one thing that corn biggest agreement -- they agreed on batteries and natural gas. on batteries, we have technology going on. did a great job in reactivating battery energy and our country. the life span of the truck is not very long. during the good times, three years ago, i saw one major trucking company buying 175 new 18-wheel trucks every week. this legislation allows the conversion of those trucks from diesel fuel to natural gas. this will lessen our dependence on foreign oil. as far as jobs, we are doing everything we can to increase employment. this home star bill will increase employment in every state of the union by a significant amount. with the money that we have with home star, we're talking about

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