Senate Majority Leader Harry Reid, D-Nev., called Bush's speech "nothing more than a cynical campaign ploy that will do nothing to lower energy prices and represents another big giveaway to oil companies" who have been reporting profits as prices escalate at the pump.

"The facts are clear: oil companies have already had ample opportunity to increase supply, but they have sat on their hands," Reid said. "They aren't even using more than half of the public lands they already have leased for drilling. And despite the huge tax breaks President Bush and Republican Congresses have given oil and gas companies to invest in refineries, domestic production has actually dropped. "

Reid coupled Bush with presumptive Republican presidential nominee Sen. John McCain, R-Ariz., saying that despite what they "and their friends in the oil industry claim, we cannot drill our way out of this problem.

"President Bush and John McCain are not serious about addressing gas prices," Reid said. "If they were, they would stop offering the same old ideas meant to pad the pockets of Big Oil and work with Democrats to reduce our dependence on oil, invest in the renewable energy sources, crack down on excessive speculation and stand up to countries colluding to shake down American consumers."

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