Bayh joins group seeking oil drilling compromise

By TOM DAVIES, Associated Press Writer

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By Beth Boehne

Story Created: Sep 11, 2008 at 5:48 PM EST

Story Updated: Sep 11, 2008 at 5:48 PM EST

INDIANAPOLIS (AP) — Indiana Sen. Evan Bayh said Thursday he was joining a bipartisan group of senators working on a proposal to allow a limited increase in offshore oil drilling in hopes of breaking a stalemate in Congress over the issue.

Bayh said he was among perhaps six senators being added to the eight Democrats and eight Republicans involved in the effort.

The group supports a bill that would lift a ban on oil and natural gas drilling in the eastern Gulf of Mexico and off the southeastern U.S. coast, along with raising taxes on oil companies to invest $20 billion in the development of petroleum-free motor vehicles and extend tax credits for renewable energy.

Bayh, a Democrat, said he believed the key elements of the proposal were its support for increased use of wind and solar energy and the development of technologies such as electric fuel cells.

"If we need to move on drilling in order to get those things done, then that is something that will need to be included," Bayh said.

Congressional Republicans for weeks have demanded a vote on allowing drilling access along the entire Atlantic and Pacific coasts, an issue that also has become the core of GOP presidential nominee John McCain's response to high gasoline prices. Many Republicans, though, have strongly opposed new taxes on the oil companies.

Democratic congressional leaders have opposed lifting any of the offshore drilling bans, but Democratic presidential nominee Barack Obama has said he is open to a limited expansion.

Sen. Richard Lugar, R-Ind., does not plan to join the group of senators, but he has previously supported many of its proposals, Lugar spokesman Andy Fisher said.

Lugar issued a statement Thursday pointing out that Americans spent $52.8 billion on imported oil in July — double the amount paid in July 2007 — and that oil spending represented 85 percent of July's $62.2 billion trade deficit.

Bayh said while it might be unlikely a compromise can be reached before the November election, negotiations needed to start because Congress has failed to adequately address the energy issues.

"An effort like this that brings together a lot of different components to really begin to act to deal with this problem is something that needs to be done," he said.

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