[Congressional Record Volume 155, Number 34 (Thursday, February 26, 2009)]
[Senate]
[Page S2570]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. WYDEN:
  S. 499. A bill to amend the Energy Policy Act of 2005 to repeal the 
ultra-deepwater and unconventional onshore natural gas and other 
petroleum research and development program; to the Committee on Energy 
and Natural Resources.
  Mr. WYDEN. Mr. President, I rise this afternoon to reintroduce the 
Withdraw Energy Addicting New Subsidies Act. I first introduced this 
legislation in the 109th Congress to repeal what I believed to be a 
back-door subsidy to the oil and gas industry at a time when the oil 
and gas industry didn't need any more subsidies. This hidden subsidy 
was included in the Energy Policy Act of 2005. And what it does is to 
directly transfer $50 million dollars a year of oil and gas royalties, 
which would otherwise go the Federal Treasury, into a special program 
to research on advanced, ultra-deep drilling technology for the oil and 
gas industry. This transfer isn't a one-time transfer, it's an annual 
transfer that continues every year through the year 2017, at a cost of 
$250 million over five years.
  There are plenty of industries in this country that are hurting, but 
the oil and gas industry is not one of them. It's time, as President 
Obama has said, to end Federal programs that we don't really need. And 
this is one of them. I applaud the decision by the President to propose 
the repeal of the ultra-deepwater drilling program in the budget he 
announced today. It's a decision that's long overdue. That's why I am 
reintroducing this bill--the WEANS Act. I urge my colleagues in joining 
me in ending this unneeded subsidy by supporting the WEANS Act.
  I ask unanimous consent that a copy of the bill be printed in the 
Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                 S. 499

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Withdraw Energy Addicting 
     New Subsidies Act of 2009'' or the ``WEANS Act of 2009''.

     SEC. 2. REPEAL OF ULTRA-DEEPWATER AND UNCONVENTIONAL ONSHORE 
                   NATURAL GAS AND OTHER PETROLEUM RESEARCH AND 
                   DEVELOPMENT PROGRAM.

       Subtitle J of title IX of the Energy Policy Act of 2005 (42 
     U.S.C. 16371 et seq.) is repealed.
                                 ______