705 



Maine, I support this bill. As chairman of the Budget Committee, I 

 am obliged to spend some time today on the larger problems it repre- 

 sents. 



The very survival of the United States depends on reliable supplies 

 of energy at costs over which we have far more control than we now 

 have. The Outer Continental Shelf may provide some of those sup- 

 plies. Nobody knows for certain. But even if oil is discovered off the 

 Atlantic coast, for example, it is likely to meet our needs only for a 

 matter of years, not for decades. So one message of S. 586 is that it 

 would be criminally foolish to plunder our coastlines for the sake of 

 a limited supply of energ3^ One message is that the job of offshore 

 energy- development must be done carefully and properly. 



There is another message associated with S. 586. It represents months 

 of hard work, of study, of hearings, and of negotiations. And yet, as I 

 have said, it may well deal with only a limited contribution to our 

 future energy needs. Thus, S. 586 is an indication of the complexity and 

 magnitude of the job this country faces in solving its energy problems. 



Finally, S. 586 is expensive. It is a good bill. It is an important bill. 

 It is a necessary bill. But it will cost nearly $2 billion over the next 

 10 years. And S. 586 is as good a warning as we are likely to get this 

 early in the session of what we are up against in tiying to establish 

 priorities for rationing the money available to us in the fiscal 1976 

 budget. 



This bill does, however, exceed the budget resolution regarding bud- 

 get authority, but is well within budget authority regarding outlays 

 this year. In drafting the budget ceiling, we assumed a total of $300 

 million in budget authority for fiscal 1976 for the programs this bill 

 would create. The bill calls for nearly $400 million in budget authority. 

 In terms of outlays, the bill probably is below the original estimates. 

 "We assumed outlays of $800 million. Because so many of the programs 

 in S. 586 are designed to take effect gradually, the Commerce Com- 

 mittee staff anticipates outlays of about $200 million in fiscal 1976. 



"Were it not for the fact that outlays under this bill will be $100 

 million less than the budget resolution contemplated, I woud be re- 

 quired to support a reduction in budget authority. But inasmuch as 

 a full appropriation of the budget authority figure contained in the bill 

 would not increase outlays or the deficit projected in the budget reso- 

 lution this year, I intend to support the bill. In future years, we will 

 have to look closely at this program, however, and it may be that 

 appropriations will need to be tailored to the larger fiscal picture as 

 well as the needs that this bill addresses. 



I may say to my colleagues that one statement in the prepared state- 

 ment liaving to do with the budget authority, question is more definite 

 than now appears to be justified by what I hope I said to the Senator 

 from South Carolina, and I want the Record to reflect that fact. 



]\rr. Rollings. "\7"ery good. 



]\rr. Bellmon. Mr. President, I thank the distinguished Senator 

 from Maine for his contribution in relation to the course of this legis- 

 lation. It now appears from this chart on page 51, and I would like to 

 call the attention of the Senate to the fact, that this bill is expected 

 to cost some $2 billion over the next 10 years. I think we all ought to 

 realize that when we cast our votes. 



