Kay Bailey Hutchison: “I appreciate so much the explanation of the Senator from Louisiana because he is getting to the real point. This chart…”

“I appreciate so much the explanation of the Senator from Louisiana because he is getting to the real point. This chart shows what the MMS is proposing to do under the new rule. As the Senator from Louisiana said, the mandate to MMS was to simplify the rule so the Federal Government and the taxpayers of America get a fair share of the oil royalties. This is what they have come up with. I believe if we can have a 1-year moratorium that MMS, which has a new leader, will come forward with a reasonable plan. It is not going to tax costs. No other industry has a tax on their transportation costs and their marketing costs. It is going to be a fair return. That is what we are after. I want to make one other point before I yield to the Senator from New Mexico. We keep hearing about this former ARCO employee and all of the oil companies settling. But the Senator from California fails to mention that 2 weeks ago, there was a verdict by a jury in California saying that Exxon did not cheat the taxpayers of California. That is the oil company that didn't settle because it didn't believe it had cheated. The former ARCO employee who has been referred to by the Senator from California testified in the case and was found uncredible. So I think it is very important that be in the debate.”