More Pro-Active Energy Legislation Coming Out of GOP House
5/12/2011 4:29:00 PM - Elisabeth Meinecke
The House succeeded in passing
HR 1231, a third in a slate of energy bills designed to help promote offshore drilling and thus less dependence on foreign oil. The three bills
"could create 250,000 jobs short-term and 1.2 million jobs long-term," according to the GOP Natural Resources Committee press release, quoting statistics from a professor and economist at Louisiana State University.
HR 1231 requires that a production goal be set for each of the 5-year lease plans an administration puts forth, and it sets one already for the Obama administration: 3 million barrels of oil per day and 10 billion cubic feet of natural gas per day by 2027.
It also requires that the five year plans conduct lease sales where there is the greatest amount of natural reserves.