Bingaman Clashes with Republicans on Oil Fees

Jeff Bingaman

From thehill.com -Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-N.M.) is backing an Interior Department proposal to raise fees on offshore oil-and-gas companies to help fund expanded oversight in the wake of the BP disaster. Bingaman said at a hearing on Interior’s budget plan that last year’s oil spill was a “dramatic reminder” of the importance of effective oversight. “I strongly support the president’s budget request for additional funding for these purposes, including his request for increased fees from industry to fund inspections of offshore operations,” Bingaman said Wednesday.  The White House’s fiscal year 2012 plan would boost fees in addition to repealing billions of dollars in industry tax incentives.  But the oil industry and many Republicans say raising industry’s costs will slow down domestic development.  More News New Mexico

Bingaman Clashes with Republicans on Oil Fees