House Energy Plan Would Raise Gas Prices and Lower Domestic Production

House Energy Plan Would Raise Gas Prices and Lower Domestic Production

Members Should Demand a Vote to Repeal Offshore Moratorium
September 11, 2008

Washington, D.C., September 11, 2008—House Speaker Nancy
Pelosi (D-CA), after months of stalling and opposition, has agreed to hold a
vote on whether to allow somewhat more offshore oil and gas exploration.
Despite this apparent progress, however, the House Democratic Leadership’s
energy legislation is still a sham designed to fool the public.

“Speaker
Pelosi’s opposition to offshore drilling has been clear and consistent. Only the
overwhelming nationwide support for increased domestic oil and natural gas production
has forced her to give a little ground,” said Competitive Enterprise Institute
Director of Energy Policy Myron Ebell. “However, the package that the House
Democratic Leadership has put together would only result in a little more
offshore drilling, whereas the other provisions would discourage investment in
domestic oil production by raising taxes and provide billions of dollars of
subsidies to special interests.”

Recent polls have found that as many as 74% of Americans
now support lifting the federal restrictions on offshore drilling. The
Competitive Enterprise Institute has long been an advocate of opening more of
the nation’s domestic energy resources to exploration and production, to
benefit both consumers and business owners hit by high energy prices.

“The House should recognize the Pelosi plan for the sham
that it is,” Ebell continued.  “House
Members should instead demand an up or down vote on lifting the moratorium on
offshore drilling.”

 

Energy Experts Available for
Interviews

Myron Ebell

Director of Energy
Policy

202-331-2256

mebell@cei.org

William Yeatman

Energy Policy Analyst

202-331-2270

wyeatman@cei.org

CEI is a non-profit, non-partisan
public policy group dedicated to the principles of free enterprise and limited
government.  For more information about
CEI, please visit our website at www.cei.org.