Shays Supports the Drill Responsibly in Leased Lands Act

Press Release

Congressman Christopher Shays (CT-4) voted today for H.R. 6515, the Drill Responsibly in Leased Lands Act, which would expedite oil and gas production in land already leased for exploration; require energy companies to develop their existing oil and gas leases before receiving new leases; and require the Interior Department to offer oil and gas lease sales each year instead of every other year.

The bill, which needed a two-thirds majority, or 279 votes to pass, failed by a vote of 244 to 173.

"This legislation would accelerate energy production to help combat high energy costs," said Shays. "But the key is still to develop a long-term energy policy to decrease U.S. dependence on foreign oil, protect the environment, increase supply, build a market for renewable energy and promote energy conservation."

Shays has introduced the Energy for Our Future Act, a comprehensive bipartisan energy reform bill which has three principal goals for our national energy policy: improving the fuel efficiency of passenger vehicles; incentivizing the purchase of energy-efficient appliances; and repealing extraneous tax breaks for industries that are very profitable and have plenty of incentive to develop additional supply.

Shays is also the lead cosponsor of Congressman Peter Welch's (VT-At Large) legislation to double the funding of the Low Income Home Energy Assistance Program (LIHEAP) in Fiscal Year 2008 (FY 08) from $2.57 billion to $5.1 billion.

The bipartisan legislation H.R. 6427, the Warm in Winter and Cool in Summer Act, will provide Connecticut with an additional $59.8 million in LIHEAP funding for FY 08.

Additionally, Shays and Representative Earl Perlmutter (CO-7) introduced a resolution in the House of Representatives urging the President to direct the Commodity Futures Trading Commission (CFTC) to work with the United Kingdom Financial Services Authority to address the increased speculation in the oil futures market many believe is falsely driving up oil prices. Shays and Perlmutter wrote the President on Wednesday requesting he address this speculation.

Their bipartisan resolution would establish position limits on oil futures traded on the Intercontinental Exchange similar to those established by the CFTC for traders on the New York Mercantile Exchange. It also urges the CFTC to require institutional investors to disclose their position limits.

Finally, Shays this week joined Representatives Earl Blumenauer (OR-3) and Ellen Tauscher (CA-10) in introducing H.R. 6495, the Transportation and Housing Choices for Gas Price Relief Act, which will provide immediate relief by offering tax incentives for commuters to carpool, ride public transit, bicycle, or telecommute.

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