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July 14, 2008

Bush Lifts Executive Order Banning Offshore Drilling

offshoreplatform.jpg

Alas, it's basically symbolic but it's a pretty big gift to McCain.

With prices at the pump over $4 a gallon, Bush pushed the Democratic-controlled Congress to expand offshore oil and natural gas drilling and give companies access to the Arctic Wildlife National Refuge despite fierce opposition from environmentalists.

"With this action, the executive branch's restrictions on this exploration have been cleared away," Bush said. "This means the only thing standing between the American people and these vast oil resources is action from the U.S. Congress."

Congress too has a ban on offshore drilling and while it expires on September 30, it could be renewed, making Bush's move largely symbolic. Additionally, government officials say it would take years for any oil to be produced in those areas.

So, will Nancy, Harry and the rest of the 9% gang have the guts to reauthorize the ban in the face of $4.50+/gallon?

Obama is opposed to lifting the ban because it won't provide immediate relief. When exactly with his mythical 'new technologies' be ready to roll? Personally, I'd put my money on exploiting new fields over revolutionary breakthroughs.

McCain on the other hand is in favor of lifting the ban but letting states decide whether or not there'd be drilling. Why states would get a veto over exploiting national resources, I don't know.

BTW-Am I the only one who didn't know the statutory ban was a year to year thing? Why didn't Bush pick this fight a few years ago?


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posted by DrewM. at 02:23 PM

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