By Courtney Costello- Talk Radio News Service

One year after President Bush signed an executive order lifting the federal ban on drilling along the Outer Continental Shelf (OCS),” congressional leaders gathered in Washington to shed light on the Obama administration’s failure to make offshore drilling a priority.

“In the last 29 years, nothing has been done to upgrade our knowledge about gas and oil reserves [off American shores],” said former Speaker of the House Newt Gingrich (R-Ga.).

Funding OCS offshore drilling will help create 1.2 million jobs for Americans, and create a pay roll close to 70 billion dollars, if these resources are used right away, said Rep. Doc Hastings (R-Wa.).

The Congressional leaders all stressed that the U.S. has to limit its dependency on foreign oil.

“The idea that we are sending dollars abroad, taking jobs away from our Americans, bleeding our economy to buy oil from overseas is wrong, when we have vast quantities available…I’ve suggested, let’s have a transition, with fossil fuels developed in this country. Develop them for domestic use and transfer those dollars into developing alternative forms of energy,” said Rep. Don Young (R-Alaska).

The Energy Daily and Covanta Energy hosted a media breakfast with Senate Energy and Natural Resources Chairman Jeff Bingaman (D-N.M.) to discuss the congressional outlook on energy. At the forefront of discussions was the Outer Continental Shelf (OCS) Moratorium. The OCS Moratorium was put in place by Congress in 1981 to protect America’s coasts from threats of oil and gas developments as well as to prevent leasing of coastal waters for fossil fuel development. (more…)

House Majority Leader Steny Hoyer (Md.) spoke today at his pen and pad briefing about the state of the economy and gas prices. Hoyer said the the economy is in real trouble, and that the policies of the Bush Administration of economic growth have not been realized. Hoyer said that the president’s recent opening up of the outer continental shelf is an “attempt to divert attention from his failed energy policy.”

America is a nation of winners, but winners need good leadership and honest policies and the Bush Administration is not providing that, Hoyer said. Despite the President’s assurances that a second stimulus package is not necessary, Hoyer said he is hopeful that Congress can move forward in a bipartisan way on another stimulus package.

The housing bill that is currently going through Congress is currently being worked on to add in Secretary of the Treasury Henry Paulson’s recommendations for the bill. Hoyer said the House is working with the Administration and hopes to hold hearing this week or next before voting on the legislation.