House Passage of OCS Bill Critical to Consumers, Businesses and U.S. Economy
December 4, 2006
04:25 PM
Washington, D.C. – Senate Energy & Natural Resources Chairman Pete V. Domenici today called for House passage of the Senate’s bipartisan OCS bill, legislation that will bring 1.26 billion barrels of oil and 5.8 trillion cubic feet of natural gas to market over the next several years. The House is slated to take up the bill tomorrow on the suspension calendar.
Domenici’s statement:
“This bill is critically important to consumers, manufacturers and businesses across all sectors of our economy. Between 2002 and 2005, natural gas prices climbed by a staggering 400 percent, contributing to the loss of hundreds of thousands of manufacturing jobs. Our bipartisan bill provides real relief from steep energy prices and hopefully begins a trend of lessening our dependence on foreign oil.
“This bill isn’t the entire solution, but it’s a big step in the right direction and a step taken on a broad bipartisan basis by the Senate in August. I hope this strong bipartisan support will be met in kind this week in the House. I’d like to send this bill to the White House for the President’s signature before the holidays.”
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