Kirk Watson: “today Democrats will bring forward the final piece of legislation in the Six for 06 for America, the Clean Energy Act of…”

“today Democrats will bring forward the final piece of legislation in the Six for 06 for America, the Clean Energy Act of 2007. This bill is vital in assuring the American taxpayers that the government will close loopholes and end giveaways in the tax code for major oil companies. In my work as Ranking Member on the Government Reform Subcommittee on Energy and Resources in the 109th Congress, I worked closely with my colleague Darrell Issa in investigating the overlooked but serious problems with the oil and gas royalty programs. The mismanagement of several of these leases potentially could cost America's taxpayers nearly twenty billion in royalties over the next 25 years because of errors in drafting the leases. Had the leases been negotiated properly, it is estimated that the government would have collected an additional $700 million in royalties in 2005 alone. Do the math. These funds would allow one American family to fill their Dodge Caravan minivan over 12 million times, even with the high gas prices we are facing now. Madam Speaker, our citizens should not pay for bureaucratic mistakes nor should they suffer the consequences of this administration not holding these companies accountable. H.R. 6 will be a start to fixing this and many other examples of government mismanagement in the energy sector.”