DRILLING  (CONT)

Drilling proponents say modern techniques can extract the oil without damaging the environment.

The House passed the $454 billion defense spending bill earlier this week, 308-106, with scores of lawmakers who previously opposed refuge drilling voting for the legislation.

The bill includes $29 billion for Katrina hurricane relief, $2 billion in emergency funding for low-income families pay high heating bills this winter as well as money for troops in Iraq. Stevens' provision would funnel 80 percent of the proceeds from Arctic refuge oil lease sales to hurricane relief and 5 percent for the energy assistance program.

The legislation anticipates about $5 billion in federal revenue bonus bids from oil leases, the first of which must be issued within 22 months and the second package in 2010. Half of the lease proceeds and future royalties from oil production would go to Alaska.

Alaska relies heavily on proceeds from oil production, a revenue stream that has been in steady decline as the vast Prudhoe Bay oil fields to the west of ANWR become less productive.

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