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US House fails to pass oil bill
Barcelona News.Net
Thursday 24th July, 2008
The US House of Representatives has not passed the legislation which would have required the government to sell 70 million barrels of light sweet crude oil from the national stockpile.
The bill would have forced the sale of ten percent of the emergency stockpile’s holdings.
Although the House voted 268 to 157 in favor of the legislation, the measure fell short of obtaining the two-thirds yes vote.
The legislation, which was meant to drop gasoline prices, had been pushed by the Democrats, who had hoped to lower surging oil prices by putting light sweet crude, held by the national reserve, into the market.
The White House had threatened to veto the measure, saying there should be more of a commitment to increase domestic supply, rather than tap into a strategic reserve.
The Democrats have been worried about the White House push to increase domestic production by lifting bans on drilling offshore and in the Arctic National Wildlife Refuge.
Democrats want oil companies to drill on land already available under government leases to search for oil.
Republican legislators have pushed for increased domestic production by lifting bans on offshore drilling and on an oil shale development in the Midwest.
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Comments on this story
Anonymous
07-24-08, 09:22 PM |
US House fails to pass oil bill
We should be investing in alternative energies. The planet simply can not continue to dig carbon from under ground and putting it in the air! We need to be exploring our minds and preparing for the future! The country that discovers this new energy technology is the country that will prosper the most.. think about it
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Anonymous
07-25-08, 02:19 PM |
House Speaker NANCY PELOSI ought to introduce Sen. JOHN McCAIN’s bill to end a 27-year ban on drilling for oil in US coastal water, even more continental shelf drilling to reduce dependence on foreign imported crude oils. “Getting American crude oil from America’s soil” to create more American jobs. As our analysis, US dollar is rebounding its value gradually, if the Federal Reserve is going to raise 0.25 interest-rate, USD is climbing, the OPEC crude oil price is going lower. Pelosi should also consider to introduce a Sen. McCAIN’s bill to give American consumers a Summer vacation’s gasoline tax-break entending to the end of December, 2008 because Sen. McCAIN is worrying about the Winter’s Heating Oil cost may hurt the American households who are earning paycheck-by-paycheck.
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Spiritrace
07-25-08, 05:12 PM |
I’d like to see Pilosi try to make it from Cheyenne to my home in a blizzard at 40 below with 60 mph winds in her cute little solar powered electric car.....Oh! That’s right, she doesn’t need a economy car, she is elite!
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greggie
07-25-08, 03:59 PM |
oil oil oil oil
If the speaker doesn’t want to drill for oil. SHe should bike or walk everywhere.
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waltky
08-19-08, 05:01 AM |
Pelosi ready to deal...
;)
GOP Prepared to Cut Oil Drilling Deal with Pelosi
Monday, August 18, 2008 â Republicans protesting on the House floor for the last two weeks and demanding Congress take action on high gas prices told CNSNews.com that they might accept some of House Speaker Nancy Pelosiâs (D-Calif.) âalternative energyâ terms in exchange for a vote to lift the ban on new offshore oil drilling.
]
In a radio address Saturday, Pelosi indicated she may allow a vote to open further oil drilling on the Outer Continental Shelf (OCS) if it is packaged with a number of energy alternatives that many Republicans oppose, but she did not specify when the vote might take place â this year or in early 2009. âI think there is a lot we have in common with the speaker on renewables, on alternative energy and conservation efforts,â Rep. John Shimkus (D-Ill.) told CNSNews.com at a Monday press conference held by Republicans. âWe are all there together on that.â
âIf she [Pelosi:
is willing to work a compromise in the open, then I think everyone here will be happy,â Rep. Peter Hoekstra (R-Mich.) told CNSNews.com. âWe know that there is not just one magic bullet.â Pelosi said she has a âcomprehensive planâ for energy, which includes releasing oil from the 700 million barrel federal Strategic Petroleum Reserve(SPR), creating a federal Renewable Electricity Standard that would require oil companies to pay billions of dollars to invest in clean energy resources â and allowing limited offshore drilling.
The Democratsâ plan âwill consider opening portions of the Outer Continental Shelf (OCS) for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil,â Pelosi said Saturday. âA responsible domestic drilling program means an end to royalty holidays that deprive taxpayers of the royalties they deserve, an end to subsidies for profit-rich oil companies, and a requirement that Big Oil drill the oil leases they already own,â she added.
More http://www.cnsnews.com/public/content/article.aspx?RsrcID=34250
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