Joe Barton: “My question, Mr. Speaker, and this is on my time, if either of those three gentlemen would like to respond. I'm not…”

“My question, Mr. Speaker, and this is on my time, if either of those three gentlemen would like to respond. I'm not trying to be cute. I'm way too old to be cute. The bill is silent on whether or not the money that is the equivalent cash of the royalty in kind to oil is what's done with it. So my first question I would like one of the sponsors to answer is, instead of getting 62,000 barrels of oil a day, if this bill becomes law, does the general treasury get the equivalent of 62,000 barrels of oil times whatever the market price of oil that day is, which right now is over $120 a barrel? Is that revenue generated, and does it come to the Federal treasury, or do the oil companies keep it? That's my first question.”