?The sun may have been shining outside, but inside the Houston Petroleum Club the forecast for what was happening in Washington was gloomy in September.


“There’s a new storm brewing that we need to be aware of, and its name isn’t Ike. The storm is Speaker of the House Nancy Pelosi,” says Bruce Vincent, president of Swift Energy Co. and IPAA vice chairman.
Vincent gave an overflow crowd at the monthly IPAA-Tipro luncheon a quick overview of the political action in D.C. and its probable impact on the energy industry.


“Congress is back in session, but don’t expect a lot of action except a lot of talk,” Vincent says. “Despite a growing number of calls by the American public to address the issue of offshore drilling, Pelosi has done nothing.”


He said that Congress had less than 30 days to accomplish any work, because it would recess in early October and will not reconvene until the new year, well after the November presidential elections occur.


Vincent did say that Pelosi (D-California) has indicated she will offer an energy bill that includes opening up some of the restricted areas off the East and West coasts and the Gulf Coast of Florida. But, Vincent added, “be careful of the language that could be included in the bill. Look out for things like ‘use it or lose it’ or even a windfall-profits tax. Don’t be fooled by election-year rhetoric.”


It is possible as many as three energy bills could be filed with the Senate and at least two in the House, but Vincent said that with fewer than 30 days remaining, it was doubtful any meaningful measure will be debated, much less passed, and sent to President Bush for his signature.


One bill that was introduced before the last congressional recess was by U.S. Reps. John Peterson (R-Pennsylvania) and Neil Abercrombie (D-Hawaii).


The Peterson-Abercrombie bill would open waters 25 miles and beyond from the shore to E&P, but would give states the option to pass legislation banning such activity from 25 to 50 miles off their coasts.


Beyond the 50-mile limit, though, the bill would allow all waters to be open to drilling. Their bill is being called The National Conservation, Environment and Energy Independence Act. The bipartisan bill would also repeal the 125-mile ban on E&P in the eastern Gulf of Mexico offshore Florida.


“The IPAA’s position is for the lifting of the moratorium on drilling,” Vincent says. “But I believe that nothing will be done by this Congress before it breaks, even though there will be a lot of pandering to the public by the politicians.”

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