House budget resolution does not include ANWR leasing revenues

House budget resolution does not include ANWR leasing revenues

Washington (Platts)--29Mar2006

A draft budget resolution being debated Wednesday in the US House of
Representatives Budget Committee does not include revenues from oil and
natural gas leasing in the Arctic National Wildlife Refuge in Alaska.

The committee is expected to complete action on the resolution later in
the evening and was not expected to add an ANWR drilling provision.

A budget resolution passed by the Senate earlier this month assumes ANWR
revenues and includes reconciliation instructions to the Senate Energy
Committee to account for the revenues, which the panel would do by authorizing
ANWR leasing.

The situation mirrors what happened last year when the Senate included
ANWR in its budget reconciliation bill but the House did not. Leasing
advocates are attempting to use reconciliation legislation as a vehicle for
opening ANWR because it can't be blocked in the Senate by an extended debate.

The House is expected to take up the resolution next week.

House Majority Leader John Boehner, Republican-Ohio, said Tuesday it would
be very difficult for the House to pass a budget resolution that included an
ANWR provision.

If revenues from ANWR are not included in the House measure, the issue
would have to be resolved in House-Senate negotiations. The Congressional
Budget Office estimates that the refuge would raise $3 billion in federal
revenues.

--Dan Whitten, dan_whitten@platts.com

For more information, take a trial to Platts Oilgram News at
http://oilgramnews.platts.com.

Please visit: www.platts.com

Their coverage of energy matters is extensive!!.