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House Passes Bill To Expand Drilling, Fund Renewables
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"The impact was so great this time, the American people said, 'Enough's enough, let's take back control,' " Burr said.
The legislation calls for drilling 100 miles off the Atlantic and Pacific coasts, or beyond 50 miles if governors and state legislatures approve. It would repeal tax breaks given to major oil companies in a 2004 bill and would force companies to pay for leases given to them in the late 1990s for drilling in the Gulf of Mexico, a move that has saved them $15 billion over the past decade, according to Democratic estimates.
The bill requires 10 percent of the Strategic Petroleum Reserve to be released into the marketplace and increases funding for home-heating assistance for the poor.
One piece of the legislation was added this week when Democrats agreed to allow new exploration of oil shale in the Mountain West if states agree to it.
Republicans and some industry experts contend that little new energy production would result from the legislation, because federal studies have shown that more than 85 percent of known offshore oil reserves are inside the 50-mile mark.
The bill would not allow the sharing of royalties from leases with states, something that could decrease the incentive for state governments to allow drilling closer to their coasts. Pelosi indicated some willingness yesterday to consider a compromise on that issue.
Calling the process "rigged," House Minority Leader John A. Boehner (R-Ohio) protested the less-than-24-hour period between the legislation's unveiling and yesterday's vote, during which Republicans could not offer amendments.
"The bill that's coming to the floor is nothing more than a hoax on the American people, and they will not buy it," Boehner said.
Staff writer Michael D. Shear contributed to this report.
