WASHINGTON – U.S. Senators Kit Bond (R-MO) and Kay Bailey Hutchison (R-TX), Chairman of the Republican Policy Committee, and both of them members of the Appropriations Committee, today urged the Democratic-led Congress to do its part to help ease the pain at the pump for struggling families.  President Bush announced his decision to lift the Executive Branch-ordered moratorium on offshore drilling today and Bond and Hutchison urged Congress to do the same:

 

 “Families and workers across America are suffering from record high gas prices and they need our help now. The time to reverse the outdated and punitive offshore drilling moratorium has come.

 

“The American people cannot afford any further delay.  While Congress cannot change the law of supply and demand, we can change laws that help push the price of oil higher, to the detriment of millions of Americans.  Absent a comprehensive bipartisan solution to high gas prices, we intend to offer an amendment to the 2009 Interior Appropriations bill next week to remove the barriers on offshore drilling.”

            Bond and Hutchison today sent a letter to their colleagues on the Committee about the need for a comprehensive energy plan.  The Senators noted that 85 percent, or 574 million acres, of offshore areas off the lower 48 states are off limits to oil exploration.  Experts estimate these areas contain up to 18 billion barrels of oil, enough to equal our current production rates for 10 years and more then enough to reduce gas prices significantly.  The Senators put their colleagues on notice that unless immediate action is taken on a comprehensive plan to reduce gas prices, they will offer an amendment to end the federal offshore leasing moratorium when the committee marks-up the Interior Appropriations bill on July 24^th. 

 

            The full letter is attached and included below:

July 14, 2008

 

Dear Colleague:

 

Families and workers across America are suffering from record high gas prices and they need our help now.  Two years ago the average price for a gallon of gasoline was $2.53.  Today, Americans on average are paying $4.10 with every trip to the pump. High gas prices are impacting every segment of American life from police and fire protection to school bus schedules to family vacations. Congress must allow production of new supplies of domestic oil and gas and, to accomplish this, we intend to offer an amendment to the FY 09 Interior Appropriations bill to remove the Congressional moratorium on oil and gas production in the Outer Continental Shelf (OCS).  We encourage you to be a part of this effort.

 

Since 1982, Congress has limited the ability of American consumers to benefit from new sources of oil and gas by annually renewing a moratorium on drilling in the waters of our Atlantic and Pacific coasts.  Eighty-five percent, or 574 million acres of offshore areas in the lower 48 states, are off limits.  Experts estimate these areas contain up to 18 billion barrels of oil, enough to equal our current production rates for 10 years. 

 

Thus, the time to reverse the outdated and punitive OCS moratorium has come.  Today, the President has announced reversal of the executive ban on offshore drilling. It is time for Congress to do its part.  While Congress cannot change the law of supply and demand, we can change laws that artificially push the price of oil higher, to the detriment of millions of Americans. 

 

Americans do not want partisan politics; they want Congress to turn away from policies which have allowed gas prices to rise to record levels.  To that end, a group of Senators is currently engaged in bipartisan talks to address gas prices.  We support and applaud these efforts.  However, these and any efforts need to bear fruit soon.  The American people cannot afford any further delay.  That is why the Interior appropriations markup on July 24^th comes at a good time.  If bipartisan efforts to agree on a comprehensive plan to reduce gas prices are not successful by then, we feel obligated to move forward with individual proposals such as lifting this moratorium in a reasonable and environmentally responsible manner.

 

A large group of Senators are undoubtedly considering similar action.  We look forward to working with them and any who share our goal of increasing oil supplies for the American people.  Similarly, we look forward to working with colleagues on measures to increase conservation and address speculation concerns.  We should not recess for the August break until we have enacted the relief our constituents deserve.

 

Sincerely,

 

Kay Bailey Hutchison           Kit Bond