Bush To Lift Executive Ban on Offshore Drilling
by BarbinMD
Mon Jul 14, 2008 at 08:33:12 AM PDT
From the New York Times:
President Bush intends to lift a presidential moratorium on drilling for oil and natural gas on the Outer Continental Shelf, the White House said on Monday, hoping to prod Congress to act to clear the way for exploration along the country’s coastline in response to soaring energy prices.
Not that it will do anything to lower prices at the pump. Said Bush:
One of the factors driving up high gas prices is that many of our oil deposits here in the United States have been put off-limits for exploration and production. Past efforts to meet the demand for oil by expanding domestic resources have been repeatedly rejected by Democrats in Congress.
Bush didn't mention the leases on 68 million acres that oil companies are currently sitting on.
Update: Reaction from the Obama campaign:
"If offshore drilling would provide short-term relief at the pump or a long-term strategy for energy independence, it would be worthy of our consideration, regardless of the risks. But most experts, even within the Bush Administration, concede it would do neither. It would merely prolong the failed energy policies we have seen from Washington for thirty years. Senator Obama believes Americans need real short-term relief, which is why he has proposed a second round of stimulus with energy rebates for working families. And over the long-term, Senator Obama understands that our national security and the survival of the planet demand a real strategy to break our dependence on foreign oil by developing clean, new sources of energy and by vastly improving the energy efficiency of our cars, trucks and our economy. He is ready to lead such a transformation," said Obama campaign spokesman Bill Burton.
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