GOP: Budget plans good for oil, gas

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WASHINGTON, March 22 (UPI) -- A budget resolution from the House of Representatives will unlock domestic oil and gas potential, the chairman of the House Natural Resources Committee said.

The House of Representatives passed a short-term funding measure Thursday to keep the government running to the end of the fiscal year Sept. 30. The bill funds $984 billion in spending for six months through the end of the fiscal year.

The House measure doesn't reverse the $85 billion in sequestration cuts that went into effect March 1.

The House also voted 221-207 to approve Budget Committee Chairman Paul Ryan, R-Wis., proposed budget that calls for cutting $5 trillion from future spending. Ryan last week unveiled a balanced budget proposal that would get revenue from expanded oil and natural gas exploration.

The Republican plan will unlock American energy, allowing new production on our public lands and waters and approving vital projects like the Keystone XL pipeline," House Natural Resources Committee Chairman Doc Hastings, R-Wash, said in a statement.

House Republicans accused President Barack Obama of standing in the way of U.S. energy potential. U.S. oil and gas production are at record highs.