“Use It or Lose It” legislation fails to reach two-thirds majority.

On June 26th in response to ongoing calls to allow oil drilling off the coast of the United States and in the Arctic National Wildlife Refuge, Democratic members of Congress offered “Use It or Lose It” legislation to mandate that oil companies either drill on federal land they have leased or relinquish the right to do so. Currently, oil companies have dormant leases to over 68 million acres in the western United States and Alaska that are available for immediate drilling and exploration that, according to Majority Leader Steny Hoyer (D-Md) “contains over 100 billion barrels of oil”.  read more »