After trading at a record high of $147 a barrel Friday, the price of oil saw its largest one-day drop since the 2003 beginning of the Iraq war on Tuesday, falling $6.44 a barrel. Wednesday, it fell another $3.71, to $135.03, and at one point was trading as low as $132.  Read More →

In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking,... 

As the tide of public opinion seems to shift in favor of House Republicans’ demand for a vote on domestic energy exploration, one supporting argument has yet to be discussed: drilling as a way to lower your taxes.  Read More →

This is what we’re talking about. This past weekend, I had the privilege of joining Republican Leader John Boehner and nine other members of the House on an “American Energy Tour.” This trip explored the available natural resources that our nation has in Colorado and Alaska to increase domestic energy supply and decrease America’s rising gas costs. ... 

There has been a lot of rhetoric from both parties with regards to what policies, if any, can bring down gas prices. John McCain has proposed one bad policy: a temporary gas tax holiday. But recently, the issue of offshore drilling has now come up.  Read More →