House Democrats to yield on offshore drilling

House Democrats are ready to propose an expansion of offshore drilling as part of a broader energy bill  they plan to introduce this month, according to a top Democrat.

Democratic Caucus Vice Chairman John Larson (Conn.) said the majority is prepared to back “responsible” offshore drilling through a bill that could be brought to the floor as early as next week.

{mosads}But the Democratic energy bill will also include past provisions pushed by the party – but that failed to pass the House with the two-thirds majority required under the procedural rules that Democrats chose to use – including the “use it or lose it” provision and a release of oil from the strategic reserve.

“We will consider responsibly opening portions of the Outer Continental Shelf for drilling while demanding that Big Oil companies use the leases they have already been issued or return them to the public,” Larson said Saturday in the Democratic response to the President’s radio address.

Larson said the legislation will also seek to curb excessive oil market speculation and call for a reinvestment of government royalties into alternative energy technology.

“Democrats support drilling, but a ‘drill only’ plan would do nothing but drill deeper and deeper into your wallet. And look, while the oil companies have remained flush, your wallet is running dry,” Larson said.

Should the Democratic bill contain language lifting the ban on offshore drilling, it will mark a dramatic shift since July, when House Speaker Nancy Pelosi (D-Calif.) was adamant in refusing to allow her chamber to vote on any offshore drilling proposal.

Over the August recess, Republicans stayed behind in Washington to protest Pelosi’s position. Pelosi has since softened her position, saying she could support some, responsible drilling provided it rode in tandem with a host of other energy provisions.