Mike Conaway: “The word ``integrity'' in this bill has been used several times today. It is offensive in the extreme just because of…”

“The word ``integrity'' in this bill has been used several times today. It is offensive in the extreme just because of what my colleague just mentioned. The lead-in sentence to section 202, which is the beginning of this wreck where we take money, confiscate money from otherwise good hardworking individuals for government purposes, says, ``The Secretary of Interior shall agree to a request by any lessee,'' and I can assure you that no lessee that has negotiated in good faith leases is going to request without some sort of a gun held to their head, and that gun is this bill. Tax rates go up and tax rates go down. Everybody understands that. Every businessman understands that. What these businessmen don't understand is this Congress's attack on the sanctity of contracts. These leases were signed in 1998 and 1999. If mistakes were made by the Federal Government, fine, go find those lawyers and bring them up on malpractice suits. But those leases were signed. This bill has delay rentals which were not in the original negotiation. This bill takes money away from those folks. The bottom line for this increase in taxes and these takings is that there will be less money reinvested in oil and gas domestic production. Every reduction in domestic production leads to a demand for foreign crude oil and foreign natural gas. I recommend a ``no'' vote on this bill.”