The Truth about the “Use It or Lose It” Legislation

Tuesday, July 01, 2008

As families and friends gather to celebrate the Fourth of July, the United States is unfortunately no closer to declaring independence from foreign oil producers.  Throughout June, gas prices broke records as the national average for a gallon of regular unleaded hovered around $4.08.  Instead of following the Republicans’ lead and offering real energy solutions, Democrats continue to offer ineffective legislation that does not help American families afford the price at the pump.

The Democrat’s latest “solution” to our nation’s energy crisis was introduced last month by House Natural Resources Committee Chairman Nick Rahall (D-WV).  H.R. 6251, also known as the Responsible Federal Oil and Gas Lease Act of 2008, would force oil and gas companies to surrender federal onshore and offshore leases if the companies do not drill on the territory and produce energy within a certain time period.  This so-called “Use It or Lose It” legislation not only fails to create any new energy or provide relief at the pump, it is already the law of the land.