Video: Use It or Lose It oil lease and permit bill

While the NRCC and other Republicans push the notion that oil companies would love to lower gas prices by increasing supply if only those mean Democrats would let them drill offshore and on all federal lands, Democrats are pointing out that the number of leases and permits in open areas have skyrocketed in the last few years.

And companies are sitting on those potential energy sources, despite having paid for the right to drill. So why open up more when the companies aren't exploiting resources that are already accessible?

The Democrats have come up with a Use It or Lose It bill or the The Responsible Federal Oil and Gas Lease Act of 2008 (H.R. 6251). Here's a video of a press conference supporting the legislation. Walz is to the right of the podium.