Republican Energy Plan Would Boost Oil Production

Rep. Doc Hastings (R-Wash.) unveiled legislation on Tuesday aimed at increasing domestic energy production and combatting new regulations put in place under the current administration.

The plan being offered by Hastings, who sits atop the House Natural Resources Committee, would “expand American energy production and reverse Obama Administration policies that are costing jobs and raising energy prices.”

House Majority Leader Eric Cantor (R-Va.) said Tuesday that he will bring the bill to the floor soon.

“The safe exploration and extraction of domestic resources can help create American jobs, generate millions of dollars in needed revenue, and reduce our reliance on foreign oil so that gas prices are lower for families and businesses,” Cantor said.

With gas prices rising — the national average reached $3.59 on Friday — energy has once again become a dominant issue on Capitol Hill. As a result of a slight uptick in global demand for oil, as well as ongoing turmoil in key oil-producing nations in the Middle East and North Africa, Republican lawmakers have used the recent spike to call on President Obama to allow for increased domestic production.

Though the Interior Department has quietly approved a few new leases for drilling in the Gulf in recent weeks, Hastings’ legislation would put pressure on the administration to speed up that process. A subsequent bill being worked on in the Senate would mirror Hastings’ plan, and would also require the administration to open up areas that have been off-limits for years, including the Arctic National Wildlife Refuge in Alaska.

The timing of Hastings’ plan coincides with a major push by the White House to outline its energy strategy. In a speech tomorrow on the campus of Georgetown University, President Obama will repeat a line from his State of the Union address, in which he asked Congress to pass a “clean energy standard.” The President is also expected to push back against GOP claims that his administration has purposely delayed approving new deepwater leases in the Gulf.

On Friday, Obama will visit a UPS shipping facility in Maryland to examine various “advanced vehicles” being used by a slew of businesses.