I applaud yesterday’s action by the House Appropriations Committee, which adopted most of the amendment offered by Congressman Hinchey. Rep. Hinchey yesterday offered language that I and the other Democratic Members here had introduced to end royalty relief to big oil and gas companies. Our language that was adopted yesterday would help prevent future taxpayer funded subsidies to big oil companies and instruct the Secretary of Interior to seek to renegotiate the current leases that offer royalty relief no matter how high the price of oil goes.

Rep. Markey Speaks at a Press Conference on Royalty Relief

America’s consumers are being tipped upside down and having money shaken out of their pockets by Big Oil companies.

It is about time that this Republican Congress took some action to put an end to these taxpayer subsidies for these companies that are making money off of consumers hand over fist.

It is about time this Republican Congress took some action to help ease the burden for consumers who are suffering under high energy prices.

Subsidizing big oil companies to drill is like subsidizing a fish to swim.  It just doesn’t make any sense.

The bill takes an important step to return this money from these Oil giants to the government – but it fails to go as far as my legislation called for.

 I am extremely disappointed that the Republicans on the Committee successfully weakened the amendment by striking language which would have prevented any oil companies that refused to renegotiate from purchasing new leases from the federal government. We need to give the Secretary a big stick as she attempts to recoup some of the possible $80 billion in estimated losses to the American taxpayer over the next 25 years. House Republicans successfully removed the teeth from the legislation which would allow for the renegotiation of leases --American taxpayers deserve better.

I am going to fight to restore this provision and make sure that these Big Oil companies pay their dues too.