Alive and well

WASHINGTON (CNN) — Two bipartisan groups — one in the House, the other in the Senate — are trying to rekindle stalled energy legislation by forging a compromise to expand domestic oil and gas drilling.

Rep. John Peterson, R-Pennsylvania has formed the House bipartisan “energy working group.”

The groups’ efforts come as congressional Democrats are expected to bring up legislation meant to lower record energy prices to the Senate floor on Thursday.

The compromise would include new domestic drilling to satisfy Republicans and promote conservation and alternative energy sources to satisfy Democrats, lawmakers said.

The Senate group said its plan probably would allow drilling in new areas of the outer continental shelf, an idea that Democratic leaders vehemently oppose.

The Democratic congressional leadership has resisted efforts to lift the ban on offshore drilling as well as open up areas such as the Arctic National Wildlife Refuge for oil exploration — two policy changes that President Bush and congressional Republicans have been advocating.

But Sen. Ben Nelson, D-Nebraska, is bucking his party’s leadership by supporting new drilling. He said he and the other senators advocating the deal are "people who are all seriously concerned about the issue who want to find solutions that are most likely to involve compromise."

Another group member, Sen. Johnny Isakson, R-Georgia said, "Somebody around here’s got to do it. We think the Senate can vote in the majority for energy proposals that will reduce our dependence on foreign oil and reduce the pressure on gas prices."

The Senate group met behind closed doors Wednesday at the Capitol, seeking to forge legislation that could be introduced after the August recess. Talks were to continue later in the week, according to one senator who attended the meeting.

Both that plan and one from the House of Representatives are expected to include language to curb excessive oil-market speculation, which many lawmakers said they believe has caused an artificial spike in oil prices.

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Several senators pointed to an energy bill scheduled for Senate debate Thursday as a prime example of the need for a compromise.

The Democratic-authored bill is meant to rein in speculators. However, the bill probably will stall, with most Republicans expected to withhold support unless they are allowed to offer amendments to increase drilling.

Democrats, who control the chamber, privately said they’re unlikely to do so. Such a standoff likely would kill the bill, aides and lawmakers said.

In the House, the bipartisan "energy working group" — formed by Reps. John Peterson, R-Pennsylvania, and Neil Abercrombie, D-Hawaii — includes 23 members, roughly split between the two parties.

Peterson said expansion of offshore drilling is the most effective thing Congress can do to boost domestic supply. But Democratic leaders have opposed efforts to repeal a 1981 law barring most offshore drilling.

"Locking up offshore is the dumbest thing that we ever did," Peterson said.

Peterson said energy legislation should be the top priority for Congress and said he hopes the group can yield a comprehensive plan next week.

"Leaders are going to have a hard time refusing to address this issue. This is the issue of the year. This is the issue of the decade," Peterson said.

Sen. Saxby Chambliss, R-Georgia, said that "everything is on the table" except drilling in the Alaska’s ANWR, which he described as a "lightening rod."

The House group is not expected to advocate drilling there, either.

"Conservation and supply are critical components to ultimately seeing the price of gas come down," Chambliss said, noting that Democrats generally favor conservation while Republicans generally favor increasing supply.

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