Responsible Federal Oil and Gas Lease Act

RESPONSIBLE FEDERAL OIL AND GAS LEASE ACT -- (House of Representatives - June 26, 2008)

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Mrs. CAPITO. Today, we are considering a bill to make something the law that is already the law. The majority claims it is necessary to force energy exploration companies to either use or lose leases they hold. However, use it or lose it is already the law. The Secretary of the Interior can already cancel a lease if the lessee fails to comply with the terms. Federal leaseholders are already required to produce oil and/or natural gas within 5 to 10 years of beginning the lease.

By blocking some firms from competing for new leases, this legislation could further increase gas prices that are already exceeding $4 per gallon. This is frustrating because I believe West Virginians would rather see us take up legislation that will actually lead to a new and more forward-thinking energy policy rather than waste time passing legislation that is already on the books. That means new exploration, coal-to-liquids, and renewables.

If this is the best the majority can do, is to restate current law, that's fine. But I think most Americans and West Virginians understand that the time has come for a more serious and comprehensive debate on this issue. That's what they deserve.

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