ALEXANDER PRAISES FINAL PASSAGE OF BILL TO INCREASE SUPPLIES OF NATURAL GAS, CREATE CONSERVATION ROYALTY

Posted on August 1, 2006

WASHINGTON, D.C. – U.S. Senator Lamar Alexander (R-TN), chairman of the Subcommittee on Energy, today praised Senate passage of S. 3711, the Gulf of Mexico Energy Security Act, which he cosponsored: “This vote is a victory for Tennessee chemical workers, autoworkers, farmers and homeowners. New supplies of natural gas will lower gas prices and help keep jobs from going overseas. This is the unfinished business of last year's comprehensive energy bill. “Twelve and a half percent of the revenues from sales of oil and gas every year will go to states for the Land and Water Conservation Fund. This creates, in effect, an outdoor recreation and conservation royalty, so that as we use an environmental asset, we replace it with other assets, such as soccer fields, city parks, greenways and forests.” The bill passed the Senate by a vote of 71-25. ###