Debate on the bill Tuesday was peppered with calls from Democrats to focus on raising taxes on oil companies. Some have proposed legislation that would raise billions of dollars through eliminating tax breaks for oil companies and rebate money raised to drivers.
House passes bill to speed up Gulf of Mexico drilling permit applications
Democrats also argued that allowing more drilling in the U.S. would not immediately lower prices. But Republicans rejected these arguments and said demonstrating that the U.S. is prepared to do more to find its own energy resources would send the right signals to the markets and lower oil and gas prices.