House Democrats to Unveil Energy Package at Convention
Against the backdrop of Republicans rallying on an empty House floor over the need to vote on pro-offshore drilling legislation, House Democratic leaders are gearing up to unveil their much-anticipated energy package on Tuesday during the Democratic National Convention.
Speaker Nancy Pelosi (Calif.), House Majority Leader Steny Hoyer (Md.) and other top House Democrats will gather at Denvers Union Station to announce a proposal that, for the first time, contains some offshore drilling as a means to lowering gas prices.
Pelosi has said the forthcoming package will consider opening portions of the Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil.
It will also call for releasing oil from the Strategic Petroleum Reserve, expanding drilling in the National Petroleum Reserve-Alaska, requiring the oil industry to pay billions in royalties, creating a federal renewable electricity standard, cutting mass transit costs, cracking down on market speculation and increasing reliance on natural gas.