Ron Wyden: “I am very grateful for the Senator from Arizona getting into this discussion because what I have tried to do is ensure…”

“I am very grateful for the Senator from Arizona getting into this discussion because what I have tried to do is ensure we will have royalty relief when it is needed. Essentially one of two conditions would be met, and then you could have the royalty relief resume. One is, as the Senator from Arizona has said, the price of oil falls and you do need incentive. The other, which, in effect, gives the President of the United States the last word, is a stipulation that allows the President, through the Secretary of the Interior, to say--if we need to prevent a disruption of supply; if the President determines we would have a disruption of supply at this crucial time when our country is at war--then the President of the United States can say: We will resume the Royalty Relief Program because we need this incentive for production; it is my judgment that without this Royalty Relief Program we would have a disruption in supply.”