Joseph Skeen: “I rise to lend my support to H.R. 1664, as amended by the United States Senate. I know this legislation as the Emergency…”

“I rise to lend my support to H.R. 1664, as amended by the United States Senate. I know this legislation as the Emergency Oil and Gas/Steel Loan guarantee program of 1999. This legislation is supported by the 7,000 domestic crude oil and natural gas producers represented by some 32 national, regional and state associations. Hundreds of New Mexico businesses support this legislation. They are small producers, they are oil industry service companies and they are the countless businesses that provide goods and services to the people who work in this important industry. The oil and gas producers that would benefit from this program are small independents. They are not the big companies. They are the small producers who have seen the loss of over $25 billion and over 50,000 jobs since 1997. Today, when adversity hits our citizens and our small businesses, there are numerous 'disaster' programs to help them through the tough times. When a flood strikes, a hurricane hits or a drought settles across a region the federal government moves quickly. However, when an economic disaster hits 'Oil Patch,' the nation turns its back.”