Gaining Momentum: Second Major OCS Endorsement
U.S. Chamber of Commerce Backs Landrieu Bill

Washington D.C. (Oct. 5) – The U.S. Chamber of Commerce has thrown its support behind Sen. Mary L. Landrieu's (D-La.) efforts to pass the Conservation and Reinvestment Act of 1999 (CARA), a comprehensive environmental bill that would redirect oil and gas revenues back to states.

This is a second major endorsement in less than a week. Last month, 40 governors signed a letter encouraging congressional leaders to pass environmental legislation that would redirect outer continental shelf oil and gas drilling revenues back to states, representing a major, long-term commitment to natural resources. The Chamber's endorsement named CARA, which is S. 25.

"The Chamber has long supported the concept that the federal government should share of portion of revenues from outer continental shelf energy production efforts with coastal states that may be affected by these activities," Chamber Executive Vice President R. Bruce Josten wrote in a recent letter to Sen. Landrieu. "It is a bipartisan conservation legislation that would help promote a lasting legacy of natural resource stewardship for future generations."

Currently, the federal government keeps almost 100 percent of OCS revenues. However, CARA would redirect 50 percent back to states, providing much-needed coastal impact assistance for states impacted b offshore energy development activities. In addition to providing assistance for coastal states, it would provide for all states funds for historic preservation, as well as full funding for the Wildlife Conservation Fund and the Land and Water Conservation Fund.

Sen. Landrieu said she was pleased to have the Chamber's support: "As this important bipartisan legislation gains momentum, it is a real boost to have the U.S. Chamber of Commerce on board. I am hopeful that having the support of many of the nation's governors as well as the Chamber will help us move the bill through this year."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses of every size, sector and region.