Reid Makes Latest Offer In Standoff Over Energy Policy

Senate Majority Leader Harry Reid offered his Republican colleagues four amendments to a oil speculation bill Monday afternoon, hoping to break the ongoing congressional stalemate over how to address high gas prices.

Reid offered the GOP amendments on nuclear energy, drilling on the coast and on lifting the Congressional ban on offshore drilling in certain areas.

Talks broke down last week after the two sides could not come to an agreement over how many amendments to attach to a bill cracking down on speculation in oil markets.

McConnell said he would discuss the offer with fellow GOP leaders at a 5 p.m. meeting and get back to the majority leader.

However, McConnell called the offer "a significant step in the direction I had hoped we might take" and said he was "very encouraged by this development.”

Earlier in the day, McConnell said he would object to taking up any legislation that does not deal with gas prices, which he called "the number one issue facing the country."