Dems, GOP Spar On Oil Drilling, Subsidies

As GOP readies bills that would expand offshore drilling, Dems push for vote on repealing tax breaks for oil companies.

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By CBS NEWS
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 Two parties, two very different approaches to the issue of high gas prices.

 

 

Republicans this week are readying a vote on legislation that would ease restrictions on offshore oil drilling in an attempt to increase domestic supply. Democrats, meanwhile, are seeking a vote on repealing billions of dollars worth of tax subsidies for the oil industry.

The Hill reports that Democratic Rep. Tim Bishop (N.Y.) is expected to motion for a "previous question" during Thursday debate on GOP legislation that aims to expand and expedite domestic oil-and-gas production. The procedural move, which is predicated on Bishop'sproposal this week of the "Big Oil Welfare Repeal Act," would enable Democrats to force a vote on repealing tax credits for the five largest oil companies.

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barbara said on Wednesday, May 4 at 2:55 PM

for me this is all BS. They raise our rates at the pumps to show control of their product. Personally, that oil is coming from the earth that is called America, Mexico, etc. and for me, this means the products belong to the citizens. It's like bottling air and selling it. BS

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Barbara said on Wednesday, May 4 at 2:57 PM

I say we pull all permits, have the Governments take control of the oil and we hire employees to do what they are doing right now. And we should all get Dividend checks to pay us for the product that belongs to us.

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