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1 (October 19, 2005)

handle is hein.crs/crsajbu0001 and id is 1 raw text is: Order Code RS22304 October 19, 2005 CRS Report for Congress Received through the CRS Web ANWR and FY2006 Budget Reconciliation Legislation Bill Heniff Jr. Analyst in American National Government Government and Finance Division M. Lynne Corn Specialist in Natural Resources Resources, Science, and Industry Division Summary The FY2006 budget resolution (H.Con.Res. 95, H.Rept. 109-62) contains reconciliation directives to the House Committee on Resources and the Senate Committee on Energy and Natural Resources to reduce direct spending by $2.4 billion for the period covering FY2006-FY2010. The Senate Energy and Natural Resources Committee has voted to transmit legislative recommendations to open the Arctic National Wildlife Refuge (ANWR) to development in order to meet its reconciliation targets. The Chairman of the House Resources Committee has also indicated support for this approach. The projected proceeds from such ANWR provisions would be counted as direct spending reductions. Budget reconciliation legislation, which implements some of the direct spending and revenue policy changes assumed in the congressional budget resolution, is considered under expedited procedures that, in particular, limit debate and amendments in the Senate. The debate limitation makes a reconciliation measure an attractive vehicle for legislative initiatives that otherwise might be subject to a filibuster. This report will be updated as developments warrant. Background on ANWR The Arctic National Wildlife Refuge (ANWR) consists of 19 million acres in northeast Alaska. It is administered by the Fish and Wildlife Service in the Department of the Interior (DOI). Its 1.5-million-acre coastal plain is viewed as one of the most promising U.S. onshore oil and gas prospects. According to the U.S. Geological Survey, the mean estimate of technically recoverable oil is 7.7 billion barrels (billion bbl), and there is a small chance that, taken together, the fields on this federal land could hold 10.9 billion bbl of economically recoverable oil (at $50/bbl in 2005 dollars). That amount Congressional Research Service + The Library of Congress

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