- Nearly 80 percent of offshore oil is in areas that are already OPEN for exploration.
- In fact, 68 million acres, onshore and offshore, are already UNDER LEASE by oil companies, BUT NOT BEING DRILLED.
- Democrats have said “use it or lose it” to the oil companies: drill the oil or give up the lease to someone who will.
- And Democrats have called for mandatory leasing in the National Petroleum Reserve in Alaska - which has MORE oil than the Arctic Wildlife Refuge.
- Democrats are working to bring down gas prices by taking crucial steps to curb excessive speculation in the energy futures markets.
- Democrats are also working to lower gas prices immediately through legislation to release a small portion of the government oil stockpile.
- So let's be clear: Republicans are picking a POLITICAL fight, not a POLICY fight.
THE REALITY IS:
- Oil companies have BILLIONS of barrels of American oil available to them right now.
- And the President's own Department of Energy says the impact of any new drilling will be insignificant - promising only pennies per gallon a decade or two down the road.