Lawmakers are becoming concerned about the rising prices of gasoline as the summer approaches. This upcoming week, the House is expected to consider at least two bills dedicated to increasing the quantity of domestic oil drilling.
Jack Gerard, president and CEO of the American Petroleum Institute, joined Newsmakers to give his thoughts on Congress’ and the Obama administration’s energy policies.
In the wake of last year’s oil spill in the Gulf of Mexico, drilling in the Outer Continental Shelf has become the topic of debate. Following the disaster, President Obama placed a moratorium on offshore oil exploration, which faced opposition and legal challenges. The House Republican leadership is seeking to bring a bill to end the ongoing moratorium, and another to expedite approvals of oil drilling permits.
In the other chamber, Senate Majority Harry Reid (D-NV), said he would like to bring up legislation that will end tax breaks for oil companies before the end of May.