Democrats Unveil Energy Package

[jpak]

http://www.lasvegassun.com/sunbin/stories/bw-cong/2007/jan/12/011202646.html

WASHINGTON (AP) - House Democrats next week will push to impose a conservation fee on oil and natural gas taken from the Gulf of Mexico if prices remain at current high levels.

Also, under a package of energy measures to be unveiled Friday, oil and gas companies would be barred from future Gulf lease sales unless they agree to renegotiate flawed 1998-99 leases that allowed them to avoid federal royalty payments.

The legislation is part of the House Speaker Nancy Pelosi's priority agenda that is being pushed through during the first 100 hours of business with Democrats in the majority. The Democrats plan to take up the bill next Thursday. Its prospects in the Senate are unclear.

Lawmakers of both parties have expressed anger at the refusal of oil and gas companies to rework the 1998-99 leases that were issued without a provision that required royalty payments if oil and gas prices soared - as they have in recent years.

<more>