On the recordMay 12, 2011
1 year ago, lax regulation and reckless pursuit of higher oil company profits resulted in 11 deaths, 200 million gallons of oil dumped into our gulf waters, tens of thousands of marine and aquatic life lost, and a damaged fishing and tourism industry. A panel of experts showed us how we can learn from past mistakes and implement regulations to ensure that this disaster doesn't happen again. Yet over the last 2 weeks the Republican majority has passed legislation to create an even more lax regulatory environment than existed before the BP oil spill disaster. Opening our shores to drilling and returning to pre-BP oil spill regulations won't reduce our dependence on foreign oil, and it won't reduce the price of gas at the pump. The United States holds less than 2 percent of the world's oil reserves while we consume more than 22 percent. Even if all restricted areas in the U.S. could somehow be brought into production at this moment, the oil they would yield under the best scenario is about a million barrels of oil a day--5 percent of our daily consumption. Those bills shouldn't get any further than the House. The Senate should reject them. The American people should better understand the real cost of giving the oil companies everything they want. ____________________
