Today, the U.S. House of Representatives passed legislation that would replace President Obama's latest 5-year leasing plan for the oil and gas resources on the nation's outer continental shelf. The Congressional Research Service, the non-partisan think tank for Congress, has issued a report stating that the President's plan represents the lowest number of lease sales offered since 1980.
"President Obama has proposed the worst offshore drilling lease plan since Jimmy Carter. Americans didn't like President Carter's gas lines, and they don't like President Obama's energy policies," said Texas Congressman Kevin Brady. "We should be producing American energy and creating American jobs, not closing off 85% of our offshore energy resources."
The legislation will establish a new schedule for 29 lease sales in the Gulf of Mexico, Mid-Atlantic, Southern Pacific and the Arctic. It will also open up offshore Virginia to drilling, with the first of several lease sales starting in 2013. The House Natural Resources Committee projects that the bill, if enacted, will generate $600 million in revenues and create tens of thousands of American jobs.