by Matthew Hay Brown
Returning to Washington after the Fourth of July break - when it is likely that they got an earful from constituents about the rising cost of energy - Republicans and Democrats appear no closer to agreement on legislation to address prices at the pump.
The problem for both sides, as lawmakers concede privately, is there appears to be little they can do in the short run to bring down the cost of oil. But neither party has let that deprive them of the debate.
Senate Minority Leader Mitch McConnell took the Senate floor today to tout the Gas Price Reduction Act already rejected by Democrats for its provisions to expand drilling in the United States.
"The goal of finding more energy at home, rather than relying on the Middle East, is not a fantasy," the Kentucky Republican said. "America is already the number three oil producer in the world, and a number of states have indicated that they would like to open up the area off their coasts to even more oil exploration but they're prohibited by a federal ban. ...
"We should also lift the ban on oil shale development which the new Democrat Congress enacted last year," McConnell continued. "Our western states are sitting on a sea of oil three times as large as the oil reserves in Saudi Arabia. Yet, at the insistence of the Democrat majority, we aren't allowed to touch it."
Senate Majority Leader Harry Reid dismissed the GOP proposal.
"Instead of working with us on legislation to lower gas prices, Republicans propose that we lease more land to the oil companies," the Nevada Democrat said. "Democrats are open to considering any reasonable solution that will lower gas prices. But let's remember that the oil industry already leases 68 million acres in America that they are not even using."
Reid described ways that the GOP could work with Democrats on energy costs.
"Republicans can work with us to end speculation in the oil markets that contribute tangibly to higher prices at the pump," he said. "Republicans can work with us to have oil companies make use of the 68 million acres of American land that they currently lease but do not use. And Republicans can work with us to begin to make America - a country that contains 3 percent of the world's supply but uses 25 percent of the world's oil - energy independent by investing in clean renewables."
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Comments
" Gas Price Reduction Act " ? Oh, puh-leeze! Shale? Which western states does Mitch have in mind? Nevada? You mean where they want to put the spent Nuclear material for all eternity?
Reid is right that "the oil industry already leases 68 million acres in America that they are not even using." Why not? Who or what was stopping them? It wasn't profitable enough until Oil prices spiked. How is the "Democrat" Congress responsible for the business decisions made by ExxonMobile and their ilk?
Posted by: athena | July 7, 2008 7:07 PM
Neither party is really doing anything to address the long term problem. The Republicans simply want to drill more; the Democrats want more fuel from food crops. Both parties are simply serving their corporate masters and neither option is a viable long-term solution.
Posted by: MJ | July 7, 2008 7:10 PM
Harry and Athena need a lesson in Oil Exploration 101. Yes, there are plenty of leases that have not been drilled upon, that is becuase thru technology the Oil Companies can determine which lease have the high probability to produce oil. Some oil is profitable to be brought out of the ground when oil is priced at $10/barrel, some at $50, some at $100, some at $150 and some evebn at higher prices.
Oil shale is an untapped source is is one of those sources that now make sense to get now that oil is at $140, it would make sense at $40.
http://ostseis.anl.gov/guide/oilshale/index.cfm
The western states with high oil shale lie in North Dakota, Montana, Wyoming, Colorado and Utah
Posted by: Terry | July 7, 2008 8:22 PM
Another lesson Harry "Land Deal" Reid needs to learn - what does he think all the speculation is about? The answer is the speculation is about the future SUPPLY and future DEMAND of oil.
Posted by: Terry | July 7, 2008 8:31 PM
If the Democrats would stop their blockade of oil drilling, which their own constituents want by more than 70 percent, there would be an immediate drop in the price of oil worldwide. Why? It's an old-fashioned economic principle called competition. Works every time. So, in the meantime Demos, write to your senators, to Harry Reid personally, and to your lackey congressmen and thank them for the $4.50 you're paying for a gallon of gas, 74 cents of which are from the taxes your buddies have levied on each gallon.
Posted by: Aardmore | July 7, 2008 9:06 PM
Democrats = The true enemy of the American people. The GOP should hammer the Democrats' no domestic energy stance, no jobs stance, no lower trade deficit stance, no improved dollar stance. They do that and the Democrats will be crushed come November.
Posted by: Green Trees | July 8, 2008 12:50 AM
Green Trees...(John D.) are you nuts? Bush had no energy policy for 8 years. The dollar is tanked because of Wall St. greed, lowering interest rates, inflation, continued borrowing and and endless war. Guess who's administration brought all that on?
Posted by: dt | July 8, 2008 1:04 PM
The next debate on this issue (or at least one of them) is going to focus on coal-to-oil (CTL) technology. Nazi Germany used this process to manufacture fuel oil during World War II. Sasol of South Africa (Exxon) uses the process to supply 38 percent of South Africa's fuel needs. China, which is also rich in coal and facing increased imported oil prices, has also begun producing oil from coal. We have had this technology for years. It just was not attractive or "cost effective" as long as we could import crude oil for $35 a barrel. With the world's larges reserve of recoverable coal deposits, the temptation to augment our domestic production with CTL output would seem rather irresistible. Many people, real and corporate (like Exxon) will not see the logic of going without fuel with this as an alternative. So, like it or not, that debate is coming to a Congress near you - Soon.
Posted by: John W. | July 8, 2008 1:09 PM
Just because there are 68 million acres to drill on doesn't mean there's any oil there. We KNOW there's oil in ANWR and the shelf. We just need people to stop looking out for themselves. If the Democrats really cared about the working class, they would realize how much of a strain this situation is on us, and actually do something about it.
Posted by: Sarah | July 16, 2008 12:35 PM