[Congressional Record (Bound Edition), Volume 159 (2013), Part 10]
[Senate]
[Page 14560]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           HELIUM STEWARDSHIP


                          Auction Amounts Act

  Mr. MURPHY. Madam President, I rise today to engage my colleagues 
Senator Wyden, Senator Murkowski, and Senator Moran in a colloquy 
regarding legislation the Senate adopted yesterday for the 
modernization of the Federal helium reserve. I first would like to 
commend the leadership of the Senate Energy and Natural Resources 
Committee for their commitment to this effort and to thank my friend 
from Kansas for his partnership in this process. I know how long and 
hard the Chairman and Ranking Member and their staffs have worked on 
this complex piece of legislation, and they deserve our appreciation.
  I think it is important that we discuss one of the aspects of the 
proposed new auction program. The text before us today creates an 
auction and Section 6(b)(5)(A) allows the Secretary to auction less 
than the statutorily mandated amount if the Secretary determines the 
adjustment necessary to minimize market disruptions. The Secretary may 
make such adjustments only after, only after submitting a written 
justification to the congressional committees of jurisdiction. I wish 
to ask Chairman Wyden whether he believes this provision will be 
exercised?
  Mr. WYDEN. Mr. President, I thank my friend from Connecticut for his 
help in crafting this bill and I appreciate that he has taken the time 
to raise this issue. One of the primary goals in drafting this 
legislation was to ensure stability of supply. The Senator is correct. 
The Secretary may lower the amount of helium that is auctioned if he or 
she determines the adjustment is necessary to minimize market 
disruptions that pose a threat to the economic wellbeing of the United 
States and only after submitting a written justification to Congress. I 
expect the Secretary would exercise this provision if those criteria 
are met.
  Mr. MURPHY. Mr. President, I again wish to thank the Chairman and the 
Ranking Member for their tireless efforts and their willingness to work 
with us on these important issues. I yield the Floor to the Senator 
from Kansas, Mr. Moran.
  Mr. MORAN. Mr. President, I rise to echo the Senator from 
Connecticut's comments and to ask the Committee leaders for one more 
clarification.
  The issue is the definition of ``excess refining capacity'' and its 
requirement that it be made available at commercially reasonable rates 
as a condition of continued participation in the sales and auctions 
provided for in this legislation. I ask Senator Murkowski if it is the 
intent of the legislation that the BLM consider the economic impacts of 
defining ``excess refining capacity'' once the auction level reaches 
100% of the Federal helium reserve.
  Ms. MURKOWSKI. Yes, it is our expectation that BLM will consider 
economic impacts throughout the implementation of this bill and develop 
regulations for this and other provisions in the bill accordingly. I do 
not anticipate that the definition of ``excess refining capacity'' 
would change over the course of the law's implementation, however. Our 
intent is to ensure that refiners with excess refining capacity make 
that capacity available at commercially reasonable rates. As the 
auction system is phased in, I look forward to working with my Senate 
colleagues and the BLM to ensure that market disruptions are avoided 
and American taxpayers are protected.
  Mr. MORAN. Mr. President, I thank the Committee leadership for their 
dedication and cooperation, and I yield the Floor.

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