Del. Chris Saxman (R-Staunton) is preparing to introduce legislation during the 2008 Special Session on Transportation that will dedicate all future revenues and royalties that are paid to the Commonwealth as a result of offshore natural gas and oil drilling to the Transportation Trust Fund.

Since 2005, Saxman has worked with his Republican colleagues in the legislature, notably Sen. Frank Wagner (R-Virginia Beach), on the issue of exploring drilling for natural gas and oil off the coast of Virginia. In 2005, Saxman introduced House Joint Resolution 625, which directed the Secretary of Commerce and Trade to study the possibility of exploring for natural gas in the coastal areas of the Commonwealth.

This resulted in the 2006 report, House Document 22, which covered the possibility of the exploration, development, and production of natural gas and oil in the coastal areas of Virginia.

Saxman released the following statement Wednesday regarding his legislation for the 2008 Special Session:

“I have been working for several years with my Republican colleagues in the House and Senate on the issue of exploring the possibility of drilling off the coast of Virginia for oil and natural gas. At a time when Virginia consumers are faced with ever-increasing gas and oil prices, we should at least consider the possibility of greater domestic production to help ease the pain drivers are feeling at the pump.

“Though Congress and the President are both able to lift the ban on offshore drilling, it is important that Virginia, as a state with potentially significant offshore resources, is prepared for the possibility of that occurring.

“The legislation I have proposed will dedicate any future revenues or royalties paid to the Commonwealth to the Transportation Trust Fund, in order that those funds be used to pay for our on-going transportation needs. I understand there are some different variations of this bill being introduced as well, and I will continue to work with my colleagues to adapt the language for these bills. We realize that any revenues from these measures are speculative, and this is not for budgetary planning, but rather we are looking to start the process and lay the groundwork for future action.”

Governor Kaine responded to Delegate Saxman's proposal late Wednesday night by saying he would definitely be willing to talk with the legislature about the proposal, but it is speculative. Kaine also said, “We have a transportation problem that is a here and now problem that we need to address and we shouldn't defer it down the road until the federal government takes steps that they may or may not take.”