House Republicans passed legislation Thursday that would increase oil drilling and mining on public lands and waters, but it is not expected to become law.
“We have a lot to do, and very little time to do it, before the ticking climate bomb we’re living in goes off,” Rep. Raúl M. Grijalva , the top Democrat on the Natural Resources Committee, said on the House floor Tuesday. “H.R. 1 … will actively and aggressively take us backwards.”It also is unclear whether the GOP energy package would actually lower energy prices, said Kevin Book, managing director at the independent research firm ClearView Energy Partners.
On one hand, it would reinstate suspended oil and gas leases, which would probably increase supply and lower pump prices, Book said. On the other hand, it would repeal climate programs in the Inflation Reduction Act“Will it lower energy costs writ large, on an average energy spending basis for the country?” Book said. “I can’t say for sure.”. That’s down about 31 percent from an all-time high of $5.02 in June, but up about 45 percent from an average of $2.
Yet that pathway seems perilous. Manchin tried unsuccessfully last year to attach a permitting bill to a
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