Tag: H.R. 1229

House Overwhelmingly Backs Offshore Oil, Gas Development

The House of Representatives this afternoon voted 266-149 to pass H.R. 1230, the Restarting American Offshore Leasing Now Act. That’s a huge bipartisan level of support for the bill, which directs the Secretary of Interior to move ahead with previously scheduled offshore oil and gas leases.

The overwhelming support came despite the White House issuing a formal Statement of Administration policy opposing H.R. 1230 and H.R. 1229, the Putting the Gulf of Mexico Back to Work Act.

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Gas Prices: Markets Will Respond to Increased U.S. Oil Production

One argument Americans do NOT need to hear in today’s House debate on H.R. 1230, the Restarting American Offshore Leasing Now Act, is encouraging domestic energy production will do nothing to lower high gas prices today because, after all, it will take years for any new drilling to produce oil and gas. That old argument is just an excuse for inaction.

And it is an old argument. As Rep. Doc Hastings (R-WA) observed on a conference call with bloggers Wednesday, opponents are always saying it will take 10 years or seven years to have impact, but they were saying 10 or seven years ago. With action then, we might not have this problem.

Hastings, chairman of the House Natural Resources Committee, then dared to cite market forces in his further rebuttal:

But to me, there’s a bigger portion to this, and that is, crude oil is a global commodity and that we know. Yet we are sitting on potential reserves here that are absolutely huge, and the world knows that. And if we send a signal to the markets that we’re going to go after the resources that we have in this country … — and keep in mind, OPEC controls about 45 percent of the market — I think that will send a signal to the market that we are very, very serious about utilizing our resources, and I think that will have a positive impact on driving the price of gasoline down.

As a matter of fact, that happened in 2008, if you recall. Because there was a congressional and a presidential moratoria [on outer continental shelf drilling] in 2008 going into the gas crisis, $4 a gallon in August of that year. Both of those moratoria went away, and you know, the gas prices dropped, and I think there’s no question about that, it was because there was a signal to the market….

A lot of people say there are other factors controlling prices, and my short answer to that is, sure there are other factors. It’s called OPEC. They’re a cartel….In any sort of cartel, if you want to beat a cartel, you increase the supply of whatever that cartel is controlling. So if we send a signal that we’re going to increase the potential supply of crude oil in the world, I think the market will respond accordingly.

The National Association of Manufacturers sent the House a “Key Vote” letter Wednesday endorsing H.R. 1230, as well as H.R. 1229, the Putting the Gulf of Mexico Back to Work Act.

News coverage …

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Manufacturers Support House Bills to Increase Domestic Energy

The House of Representatives today debates H.R. 1230, Restarting American Offshore Leasing Now Act, one of three bills House Republicans have proposed in their American Energy Initiative to increase the reliable production of domestic oil and natural gas. (House floor schedule)

The National Association of Manufacturers on Wednesday sent the House a “Key Vote” letter urging support for the bill, as well as H.R. 1229, the Putting the Gulf of Mexico Back to Work Act. Excerpt:

Manufacturers support energy policies that: 1) expand domestic supplies in an environmentally safe manner; and 2) lower costs for manufacturers, which use nearly one-third of our nation’s energy. Access to competitively priced energy helps manufacturers compete in the global economy and preserves high-paying jobs here at home.

Every day of unnecessary delay in permitting costs jobs and hurts America’s manufacturers and their employees. Thousands of jobs were lost during the 2010 offshore moratorium. Companies that make and supply equipment, services, engines, boats and materials such as steel and concrete suffered under the moratorium and continue to suffer.
(continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


Gas Prices Top $4 a Gallon in Mukwonago, Elsewhere

When news editors met for the annual agenda-setting conclave last month, they determined that the official theme for today, April 13, would be “Gas Prices are Really High and Getting Higher!”

Those with adequate news-gathering resources would do the second part of the story, the conclavists agreed: “High gas prices could slow economic growth.”

Today the House Natural Resources Committee is scheduled to vote on three bills that could lend some stability to fuel prices by increasing production of domestic energy, legislation that comprises the American Energy Initiative. The bills represent good policy no matter what the gas prices are.

The Committee news release lists the bills: (continue reading…)

VN:F [1.9.22_1171]
Rating: 0.0/5 (0 votes cast)


A Manufacturing Blog

  • Categories

  • Connect With Manufacturers

            
  • Blogroll