CQ TODAY MIDDAY UPDATE
July 15, 2008 – 1:31 p.m.
Bush, Hill Republicans Pressure Democrats to Ease Oil and Gas Restraints

As President Bush renewed his call for congressional action to lift a ban on offshore oil drilling, House Democrats unveiled plans to vote Thursday on legislation that would require oil companies to use leases they already hold on public lands or lose them.

Majority Leader Steny H. Hoyer, D-Md., also told reporters he expects the House in the next few weeks to consider a bill requiring President Bush to release oil from the 730 million barrel Strategic Petroleum Reserve and another that would crack down on speculation in oil markets.

House Republicans, meanwhile, said Tuesday they would try to force a floor vote on legislation they say could lower gas prices pretty quickly.

The bill — the fifth piece of energy legislation on which House Republicans have filed a discharge petition in recent weeks — would cut the number of localized “boutique’’ gasoline blends that refiners are required to produce under EPA mandates to reduce air pollution.

Minority Whip Roy Blunt, R-Mo., the bill’s sponsor, said the bill might provide relief at the pump soon by cutting the number of different fuel blends that overworked refineries have to produce.

“Americans may be willing to pay $4 for a grande double shot mocha Frappuccino, but not $4 for a gallon of gasoline,’’ Blunt told reporters.

Bush used a morning news conference to reiterate his call for Congress to remove restrictions on offshore oil drilling along the Outer Continental Shelf that have been in place for decades. The president noted that the executive order he lifted Monday dated back to his father’s administration.

“With this action the executive branch’s restrictions have been removed, and this means that the only thing standing between the American people and these vast oil resources is action from the U.S. Congress,” Bush said.

Source: CQ Today Midday Update
Political Clippings compiled from BNN Frontrunner and CQ Politics.com.
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