Tucson lawmaker announces support for two bills aimed at lowering gas prices
U.S. Rep. Gabrielle Giffords today called on the nation's oil companies to help lower soaring gas prices by beginning to produce oil and gas on the 68 million acres of public land they currently hold but are not using.
"It is outrageous that oil companies are sitting idle on what could be vast reserves of oil while American consumers are spending more each day to fill up their tanks," the Tucson lawmaker said. "Oil companies need to use this land or lose it."
In remarks delivered this afternoon on the House floor, Giffords announced her support for two bills aimed at compelling oil and gas companies to use their federal onshore and offshore leases. The Tucson lawmaker said that Americans paying record prices for gas cannot afford to have oil companies sitting idle on federal lands that can be drilled now.
Onshore, more than 47 million acres of federal lands are currently leased to oil and gas companies, but only 13 million acres, or 23 percent, are in production. Offshore, 44 million acres are currently leased, but only 10.5 million acres are in production - just 27 percent. Counting both onshore and offshore leases, oil and gas companies hold drilling rights to almost 68 million acres of federal land and waters on which they are not drilling.
"As a strong advocate of solar and other sources of clean, renewable energy, I do not believe our country can drill its way to a long-term energy solution," Giffords said. "I also do not believe that we should allow drilling in our country's most pristine and sensitive areas. But there is no justification for big oil companies to stockpile leases as hardworking families in Arizona and all across America are paying record gas prices. The legislation I support would rectify this unacceptable situation."
Under the Responsible Ownership of Public Lands Act, an escalating fee would be assessed on land that oil and gas companies are leasing but not using. The revenue raised from these fees would be directed toward renewable energy and energy efficiency investments that will reduce our dependence on oil.
The Responsible Federal Oil and Gas Lease Act would ban companies from obtaining additional leases unless they demonstrate that they are producing or diligently developing the leases they already hold. Similar rules already apply to coal companies.
"Our country's energy challenges are deeply rooted," Giffords said. "Increasing domestic supplies should be part of the solution. Oil companies need to do their part by making full use of the leases they already have."
Video of Giffords delivering her remarks can be found here.