The Democrats Bill was voted on in the Senate last night — It failed. Wouldn’t have mitigated high prices in the first place.
More supply means lower prices: Meanwhile, Senate Republicans have introduced “The Offshore Production & Safety Act Of 2011″ (S.953), which would mandate lease sales in the Gulf of Mexico and off the Virginia coast, limit the review period for pending offshore permit applications and extend leases in the Gulf for a year. The Senate is scheduled to vote on S. 953 tomorrow. The bill parallels the package of energy legislation the House recently passed — a package also aimed to increase domestic energy production.
Similar legislation has already passed the House.
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