"Inspired, perhaps, by Newt Gingrich’s “Drill Here, Drill Now, Pay Less” petition, one group -- led by Senate Minority Leader Mitch McConnell (R-Ky) -- is trying to do something about the price of gasoline right now.
McConnell -- joined by 42 Senate Republicans -- introduced the “Gas Price Reduction Act of 2008” on June 26. The bill -- which Reid has so far refused a vote -- would open up 14 billion barrels of oil in the Outer Continental Shelf to oil drilling at the option of the states.
More than three times the oil reserves of Saudi Arabia are embedded in Western states’ oil shale, estimated at 800 billion to 2 trillion barrels of recoverable oil. The Gas Price Reduction Act also lifts the Congressionally-imposed moratorium on exploration and development of this huge oil reserve. ..." McConnell Energy Bill
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