A recent series of energy reports offered mixed news on the near future of the world oil market. According to studies by the International Energy Agency and the U.S. Energy Information Administration, world oil demand will rise as national economies recover. However, recent oil price spikes could imperil the global economic recovery. Meanwhile, the low energy prices that have predominated during the recession mean less money for oil and gas drillers to invest in new projects.
In the face of such uncertainty, should Congress give the U.S. oil industry a boost? Should the Senate climate change legislation include provisions to encourage domestic oil development -- as recommended by Senate Foreign Relations Chairman John Kerry, D-Mass., and Sen. Lindsey Graham, R-S.C.? If so, what kind of language would you like to see included? Would oil drilling provisions help the Senate reach the 60 votes necessary to pass a global warming bill?