Gas prices out of control? Seven ways lawmakers could help – or hurt.

Gas prices are approaching $4 a gallon and oil prices are above $100 a barrel, leading politicians in Washington and statehouses to propose a flurry of legislation. Some proposals strive to quell voter angst while others might balance budgets by raising gas prices.

Diving back into deepwater drilling

Gerald Herbert / AP / File
In this April 21, 2010 file photo, BP's Deepwater Horizon oil rig burns after exploding in the Gulf of Mexico.

Accusing the Obama administration of foot dragging on granting new permits to drill in the Gulf's deep waters, Rep. Tim Murphy of Pennsylvania and more than 20 other Republicans are sponsoring a bill that would override the Obama administration's increased safety measures for deepwater drilling and force it to grant permits for more than 30 offshore drilling projects approved during the Bush administration. Energy economists say such wells would take years to begin producing and would not have a significant effect on pump prices.

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