House votes to end Obama Moratorium on Offshore Drilling

In what is hopefully not a symbolic vote, the House of Representatives voted 243-179 to pass H.R. 1231, the “Reversing President Obama’s Offshore Moratorium Act.” Voting with the Republican majority were 21 Democrats.

The goal of the bill is to expand American energy production by requiring the Obama Administration to permit drilling over the course of the next five year.

According to House Majority Leader Eric Cantor (R-VA), the current moratorium on offshore development means that an estimated 2.5 billion barrels of oil is being withheld from our domestic energy supply and that this legislation will open up new areas to energy development and requires the 2012-2017 offshore leasing plan to include areas with the most resources.

“While the Obama Administration continues to put up roadblocks to domestic energy production, House Republicans have passed three bills that maximize energy production, help bring down gas prices and will get people back to work,” said Cantor. “This legislation ensures that the Obama Administration can no longer withhold valuable energy resources necessary to increase American energy production here at home.”

Also supporting the bill was Rep. Scott Rigell (R-VA02).

“We are paying high prices at the pump because of the basic laws of supply and demand,” Rigell said. “These bills will affect one side of that equation and move us toward energy independence. This is the start of a solution to a problem we hear about every single year.”

Rigell argues that the de facto moratorium imposed by the Obama administration is stifling job creation and cites the National Center for Policy Analysis as costing the United States $4.7 million a day in lost revenues.

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