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Responsible Federal Oil and Gas Lease Act
To prohibit the Secretary of the Interior from issuing new Federal oil and gas leases to holders of existing leases who do not diligently develop the lands subject to such existing leases or relinquish such leases, and for other purposes.
Other Bill Titles (2 more) 6/12/2008--Introduced.
Responsible Federal Oil and Gas Lease Act - Prohibits the Secretary of the Interior from authorizing any new lease for exploration or production of oil or natural gas unless the lessee:
(1) certifies for each existing lease that the lessee has dilige... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House |  | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| June 12, 2008 | June 26, 2008 |
Latest Vote
| June 26, 2008Roll call number 469 in the House | |||
| Question: On Motion to Suspend the Rules and Pass, as Amended: H R 6251 Responsible Federal Oil and Gas Lease Act | |||
| Required percentage of 'Aye' votes: 2/3 (66%) | Percentage of 'aye' votes: 51% | Result: Failed | |
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In the News
July 02, 2008 Corrections for July 1
â¢In Sunday's front section, the feature "Your Votes in Washington" incorrectly reported that the House passed a bill (HR 6251) on June 26 with a "use it or ...
June 29, 2008 Thompson votes for oil companies to 'use it or lose it'
The âUse It or Lose Itâ bill (HR 6251), co-sponsored by Congressman Mike Thompson, gives oil companies an incentive to explore already available lands, ...
June 27, 2008 Begin Drilling On 68 Million Acres
The bill Hinchey voted for today, HR 6251, the "Use It or Lose It" bill, would have compelled the oil and natural gas industries to start drilling on the 68 ...
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Blog Coverage
September 15, 2008 An Idea That Makes More Sense Than "Drill Here, Drill Now"
In response to these undeveloped leases, House leaders introduced HR 6251, the Responsible Federal Oil and Gas Lease Act of 2008. It is a "use it or lose it" policy: if the oil companies sit on their leases rather than drill, ...
September 03, 2008 Massa Press Conference: Deconstructing Kuhl
He pointed to Kuhl's vote against HR 6251, the "use it or lose it" bill, which mandated that current lease holders must either drill or lose their leases. Massa also noted that Kuhl voted against renewable energy and green jobs bills 9 ...
Source: The Fighting 29th
August 25, 2008 Democratic Candidate Julie Bornstein Calls Mack Mailer "Misleading"
Other Notable Mack Votes on Energy: 1) NO on HR 6251, requiring oil companies to to develop existing leases before applying for new off-shore drilling (roll call no. 469, 110th Congress, 2nd session); 2) YES on HR 4 (roll call 320, ...
Source: Desert Political Roundup
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Comments
I think the real value in this bill is that leases that are currently held but doing nothing with will be relinquished back to the gov't who can then give the lease to someone who will more actively develop the area.
If there were really oil beneath this land, do you think the oil companies would just be sitting on their hands? You can't develop what is not there. New more accurate surveys may have proved that there is little or no oil to be recovered in that particular area. Remember, they are a company that MUST make a profit like ANY other company.
If they keep the oil lease on the books, then yes, the oil is more valuable on the books and in the ground. If they sit on the lease, the cost per barrel continues to rise. Why tap the land at $100 a barrel, when they could eventually put it on the market at $200 +? It is still reflected as an asset to the company, one that climbs every day.
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