This catastrophe is the first spill to be classified as a Spill of National Significance since that term was first coined in the wake of the Exxon Valdez disaster in 1989.

I think the regulations should be looked at, and anything that would make this a lower probability event and safer should be looked into.

Thank you.

I do want to acknowledge that BP and Mr. McKay have fully cooperated with our inquiry, and have not tried to get out of testifying today.

It does not make a lot of sense at first blush to have one agency responsible for approving the plan if it is above the water, for the vessel, and a different agency responsible if the plan applies to the wellhead.

I think there was an Area Response Plan for an oil-related incident just in March off the coast of Maine.

Now, BP did file a Regional Response Plan for the Gulf of Mexico, and in that plan, the worst-case scenario that you present for offshore drilling is when a highest capacity well experiences an uncontrolled blowout volume of 250,000…

The relief well has been held out as the ultimate solution if everything else fails.

It feels like you are making it up as you go along, that no one really knows what will plug this well.

But the U.S. Government has a responsibility for protecting the public safety that is more important.

doesn't it make sense for the Administration to submit a revised budget that fully restores the money cut out of the Coast Guard using those funds?

Mr. President, I also wish to speak briefly on my amendment, No. 3879, which would help raise capital and risk standards for banks, bank holding companies, and nonbank financial institutions. It is not my intent that this amendment affect…

Mr. President, I rise today to speak on the amendment that Senator Murray and I have been working on together that would expand the Financial Stability Oversight Council established in S. 3217 to include as nonvoting members a State…

Madam President, I rise to speak today on amendment No. 3883, which is pending, which I have offered with my good friend and colleague from Arkansas, Senator Pryor. I ask unanimous consent that Senator Pryor be able to follow my remarks…

Madam President, the amendment that is pending that we have offered--and I add that also has been cosponsored by Senator Graham and Senator Menendez--would ensure that small businesses are considered in the federal rulemaking process by…

Madam President, I yield the floor and now also yield to the Senator from Arkansas. The PRESIDING OFFICER. The Senator from Arkansas.

I ask unanimous consent that reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To improve title X) On page 1272, line 2, strike ``services who''…

I call up amendment No. 3918. The PRESIDING OFFICER. The clerk will report. The assistant legislative clerk read as follows: The Senator from Maine [Ms. Snowe], for herself and Ms. Landrieu, proposes an amendment numbered 3918 to amendment…