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Reid: GOP Not Serious About Energy Bill

Posted on: Thursday, 24 July 2008, 12:01 CDT

U.S. Senate Majority Leader Harry Reid Thursday accused Republicans of blocking efforts to deal with high gasoline prices.

Speaking on the Senate floor, Reid, D-Nev., said Republicans have stopped efforts to extend tax credits for innovators, roll back tax breaks for oil companies, adopt a cap-trade system to address global warming, protect consumers from price gouging, set a renewable electricity standard, go after OPEC for price-fixing, curb speculation on commodities markets and improve a program to help the elderly and disabled to pay for energy costs.

Reid said Republicans have even rejected a vote on opening the Outer Continental Shelf to drilling -- something being pushed by the White House.

Republicans have offered nothing but talk, Reid said. They have talked about more drilling. What they don't say is that their drilling bill wouldn't put a drop of oil into the marketplace for at least 13 years. Even the Republican nominee for president, Sen. (John) McCain, has called the Republican drilling plan purely psychological."

The White House Wednesday urged Congress to act on energy legislation, with spokeswoman Dana Perino saying it's imperative to extend investment in alternative sources and tap into domestic oil reserves.

The U.S. Geological Survey estimated the Arctic holds 13 percent of the world's undiscovered oil and 30 percent of its undiscovered gas, a large percentage of it in Alaska.

Source: United Press International

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