Democratic Oil Legislation Denied

As I’m sure many of you are aware, there is a sincere debate going on in Congress about offshore oil drilling. The New York Times reports today that the House republicans have blocked the democratic efforts on oil leases and drilling. Rather than allowing offshore drilling or drilling in domestic areas, democrats attempted to pressure energy companies into drilling for oil on lands they already leased from the federal government. This logical initiative fell short of the margin needed. Opponents argued that the legislation, “which also called on the Interior Department to accelerate leasing in an area of Alaska specifically set aside for drilling, could diminish domestic exploration since it would bar oil companies from obtaining new leases if they were not actively exploring current holdings.” I think I missed something here. Isn’t it a good thing that companies explore their current holdings before getting new leases? It makes perfect sense to me! In an effort to show that they were not against drilling for oil, the democrats offered this initiative, which republicans are denouncing as a sham. On the other side, democrats are asserting that this legislation will bring immediate relief to Americans and to gas prices, whereas drilling in new areas would take a few years before any effect would happen. “Democrats say oil companies are sitting on 68 million acres they could be exploring. But republicans say many of those sites have proved to be dry holes or are the subject of lawsuits and disputes over federal permits.” If it is proven that some of the land is a dry hole, thats one thing. If there are any lawsuits or disputes over permits, then that company probably shouldn’t get an additional permit! Sheesh…