Breeze-Courier | Taylorville, IL
weather sponsored by
Hickory Estates of Taylorville




Advanced Search
search sponsored by


LOGIN | SUBSCRIBE




KMRM

home : news : national news free November 24, 2017

   
11/11/2017 11:48:00 AM
Alaska lawmaker sees financial boon in refuge drilling

WASHINGTON (AP) — Alaska Sen. Lisa Murkowski says her legislation to open Alaska’s Arctic National Wildlife Refuge to oil and gas drilling would generate $2 billion in royalties over the next decade — with half the money going to her home state.

But environmental groups and other critics call those projections wildly optimistic, noting that recent sales on Alaska’s North Slope have fallen short of projected revenue.

Murkowski chairs the Senate Energy and Natural Resources Committee, which will hold a hearing on the bill next week. The measure calls for at least two major lease sales over the next decade in areas encompassing at least 400,000 acres each in the refuge’s coastal plain. Surface development would be limited to 2,000 acres.

The 19.6-million acre refuge in northeastern Alaska is one of the most pristine areas of the United States and is home to polar bears, caribou, migratory birds and other wildlife.

The wildlife refuge has been the focus of a political fight for more than three decades. President Bill Clinton vetoed a GOP plan to allow drilling in the refuge in 1995, and Democrats led by Sen. Maria Cantwell of Washington state defeated a similar GOP plan in 2005.

The Trump administration and congressional Republicans are pushing to revive the drilling plan as a way to help pay for proposed tax cuts promised by President Donald Trump. The GOP-approved budget includes $1 billion in revenue from drilling leases over 10 years.

The bill requires at least a 16.67 percent royalty rate evenly split between the federal government and Alaska.

Murkowski said the bill represents “a tremendous opportunity for both Alaska and our country” and will “put us on a path toward greater prosperity by creating jobs, keeping energy affordable for families and businesses, generating new wealth and strengthening our security.”

Not only will the bill reduce the federal deficit by $1 billion over ten years, it will save even more over decades to come as drilling expands, Murkowski said.

Taxpayers for Common Sense, a fiscal watchdog group, says the drilling legislation is likely to generate about $100 million for U.S. taxpayers — one-tenth the amount Murkowski and the Congressional Budget Office predict.





Article Comment Submission Form
Please feel free to submit your comments.

If you are looking for the SPEAK OUT submission form, you can find it by clicking here: Speak Out Form


Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

NOTE: All information on this form is required. Your telephone number and email address will not be displayed or shared.
Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Required
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   












Dr Paul The Dentist
Trinity Dodge Fixed

NewsWebPagesOpinionPeopleObituariesAg & BusinessSportsContact Us
Subscriptions | Username & Password Reminder | Change Password | Life

Breeze-Courier & Printing | 212 S Main St. Taylorville, IL 62568 | (217) 824-2233 |
website@breezecourier.com

© Copyright 2014 Breeze-Courier & Printing. All Rights Reserved.
Original content may not be reprinted or distributed without the written permission of Breeze-Courier & Printing.

Software © 1998-2017 1up! Software, All Rights Reserved