Endangered butterflies and desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a House committee proposal to fulfill key parts of President Joe Biden’s economic agenda.
The details were summarized in a document seen by Bloomberg News prepared by the Natural Resources Committee, one of a dozen House panels now writing pieces of a $3.5 trillion budget bill that represents the largest chunk of Biden’s economic plan. The document was circulated to lawmakers before a planned Sept. 2 meeting to vote on the panel’s portion of the measure.
calls for devoting some $550 million to wildlife recovery efforts, including $25 million each to endangered butterflies, freshwater mussels and desert fish.
“This is the largest investment in the recovery of endangered species in a generation, and I couldn’t be more thrilled,” said Brett Hartl, government affairs director at the Center for Biological Diversity. “If we’re going to tackle the extinction crisis and save these incredible species from the brink, this is exactly the type of bold action that’s needed.”
The oil and gas industry would shoulder the burden of paying for much of the proposed spending. The blueprint calls for new fees for idled oil wells, pipeline owners and the inspection of oil and gas facilities. Royalties also would be increased for some minerals, oil and gas extracted from public land.
>When the evil oil companies report billions in cash flow , they will be villianized. I see CLR going private in due course