Senate Rejects GOP Proposal on Offshore Drilling
"The Senate on Wednesday rejected a Republican bid to accelerate offshore drilling by requiring regulators to speed up decisions on permits and forcing the government to reschedule canceled lease sales in the Gulf of Mexico.
The legislation represented a Republican counter to a failed Democratic effort to eliminate a suite of tax breaks for the nation's five biggest oil companies. Like the Democrats' bill, the GOP's pro-drilling measure was never expected to pass the Senate - but is destined to be political fodder for election campaign ads nationwide.
Tapping into motorists' angst over high gasoline prices, Republicans argued that their measure was essential to boost domestic production of oil and tamp down the cost of crude."Source: Hearst, 05/19/2011