By Susan Ferrechio
Democrats & Republicans will offer dueling energy measures on the House floor intended to address gas prices that have risen to near record levels nationally. Republicans who hold a 24-seat majority in the House are expected to easily pass one or two measures aimed at increasing domestic oil production which they say would eventually make gas cheaper. But they will first be forced by Democrats into a politically awkward vote.
This is a pure and simple tax subsidy Americans are providing to five of the most profitable oil companies in the world said Rep. Tim Bishop D-N.Y. who wrote the measure to repeal tax breaks currently given to Royal Dutch Shell BP ConocoPhillips Exxon Mobil and Chevron.
Its not likely the Democratic provision will pass but the vote could expose a divide in the GOP on the issue. House Budget Committee Chairman Paul Ryan R-Wis. is among a minority of Republicans who
say they favor ending the subsidies.
Senate Democrats are expected to announce their own measure to end tax breaks for Big Oil. A vote on that measure is possible soon. But a similar measure last year failed to garner the 60 votes needed for passage as all Republicans and 21 Democrats voted against it expressing concern that ending the subsidies will lead to even higher prices at the pump.
House Democrats will try to pass their tax subsidy provision during Thursdays debate on a GOP bill that would restart lease sales for drilling in the Gulf of Mexico and off the coast of Virginia. The leases have been blocked by President Obama since last summers massive BP oil spill.
Republicans hope to bring a second bill to the floor Thursday that would require the government to act within 60 days on new drilling permit applications a measure that is intended to prevent federal officials from blocking new drilling by dragging out the permit process.
Both bills are authored by House Resource Committee Chairman Doc Hastings R-Wash. who said in an interview that the GOP bills would create jobs and stabilize gas prices.
It would send a signal to the rest of the world that America is serious about utilizing the known resources we have Hastings said. When you are dealing with a global commodity the best way to affect the price of it is to increase the supply and that is the signal we will be sending.
Both parties are jockeying for the upper hand on the gas price issue which threatens to become a critical issue in 2012 elections. Prices have broken records in several states.
Democrats say they want to continue to push for alternative ways to power cars and to lessen dependence on oil. They say the GOP initiatives do nothing to address safety issues that still surround domestic drilling and would not noticeably lower prices.
House Republicans meanwhile have created a new energy action team to promote the idea that the GOPs energy agenda will create jobs and lower gas prices.
