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7-14-08 Bush to lift ban on offshore oil drilling

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  • 7-14-08 Bush to lift ban on offshore oil drilling

    WASHINGTON (CNN) -- President Bush will announce Monday he is lifting an executive ban on offshore oil drilling, the White House said.

    The move is largely symbolic because there is also a federal law banning offshore oil drilling.

    Bush has been pushing Congress to repeal the law passed in 1981.

    "There is no excuse for delay," the president said in a Rose Garden statement last month.

    "In the short run, the American economy will continue to rely largely on oil, and that means we need to increase supply here at home," Bush said, adding that there is no more pressing issue for many Americans than gas prices.

    Bush's father, President George H.W. Bush, signed the executive order in 1990 banning offshore drilling.

    The president plans to announce his decision at 1:30 p.m. in the Rose Garden.

    The issue has gained prominence in the presidential race. Sen. John McCain recently announced he supported offshore oil drilling, reversing his previous stance.

    Sen. Barack Obama wants to keep the ban in place.

    Experts say offshore oil drilling would not have an immediate impact on oil prices because oil exploration takes years.


    SOURCE: CNN.COM
    WWW.THISIS50.COM
    JOIN TODAY!

  • #2
    Yet another example of Bush being a moron. Lifting the ban ain't gonna do shit except possibly ruin wildlife and coastlines. It's going to have no effect on gas prices for at least 5 - 10 years anyway. Why not look into alternate energy sources which can help us now and not endanger the environment??

    Comment


    • #3
      YAY!!!!!!
      Good fuckin Job for once clown.....
      But this is gonna be short term since my dude Obama is against this stuff, but hey lets see where it goes

      Comment


      • #4
        ^^Lmaoooo wildlife and coastlines????

        Like really, who is giving a shit when we have domestic animals and pools in our backyards???

        He tryna give us our own shit instead of makin the saudis rich n shit for every barrel.

        And if u must know, ONCE obama win, this will be banned again cuz he believe in hybrid cars n shit so this is short term, unless mccain gets in

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        • #5
          ^ It's ignorant people like you who give Americans a bad name.

          Comment


          • #6
            I am in no way a Bush supporter (and I WAS an Obama supporter... <long story>), but this is a good idea if it sticks in place. Nobody ever seems to think outside of the box these days. We're doing more environmental harm by supporting and importing from outside oil sources (OPEC, Iran, etc.) than by drilling for oil in Alaska. I know, I know... but what about the pretty birds and the trees and the bears and the igloos and potential homeless Eskimoes?... uhhh, move to Antarctica?
            But, seriously, we should've started the drilling back when Clinton was in office. Clinton's retarded, he's mumbling to himself right now as we speak: mmhmm now why didn't I think of that???
            3 WORDS: Special Interests Groups.
            Not to be mean to Shawtee or anything... but I'm a proud American who believes in the "MADE IN THE USA" tag. And if we're gonna dig ourselves out of the hole, we have to drill ourselves out of the hole. After all, we did acquire Alaska for more than just delicious salmon and Klondike bars.
            WWW.THISIS50.COM
            JOIN TODAY!

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            • #7
              Originally posted by HitmanforHire View Post
              I am in no way a Bush supporter (and I WAS an Obama supporter... <long story>), but this is a good idea if it sticks in place. Nobody ever seems to think outside of the box these days. We're doing more environmental harm by supporting and importing from outside oil sources (OPEC, Iran, etc.) than by drilling for oil in Alaska. I know, I know... but what about the pretty birds and the trees and the bears and the igloos and potential homeless Eskimoes?... uhhh, move to Antarctica?
              But, seriously, we should've started the drilling back when Clinton was in office. Clinton's retarded, he's mumbling to himself right now as we speak: mmhmm now why didn't I think of that???
              3 WORDS: Special Interests Groups.
              Not to be mean to Shawtee or anything... but I'm a proud American who believes in the "MADE IN THE USA" tag. And if we're gonna dig ourselves out of the hole, we have to drill ourselves out of the hole. After all, we did acquire Alaska for more than just delicious salmon and Klondike bars.
              Agreed man this needed to happen 10 years ago.

              I got two bad hands and still built this house of cards/
              Just an average Jack up in the Club who thinks he found a Heart/

              Comment


              • #8
                as wise cockmuffin once said:
                the lettuce isnt dirty if the apes dont flip coins
                Que Sera Sera

                Comment


                • #9
                  Look at this cocksucker.

                  He is going all out before he is outta here.

                  I hope someone killed his ass already
                  Everybody was born to hustle
                  It's a very thin line between a boss and a muscle
                  - Xzibit

                  Comment


                  • #10
                    Originally posted by HitmanforHire View Post
                    I am in no way a Bush supporter (and I WAS an Obama supporter... <long story>), but this is a good idea if it sticks in place. Nobody ever seems to think outside of the box these days. We're doing more environmental harm by supporting and importing from outside oil sources (OPEC, Iran, etc.) than by drilling for oil in Alaska. I know, I know... but what about the pretty birds and the trees and the bears and the igloos and potential homeless Eskimoes?... uhhh, move to Antarctica?
                    But, seriously, we should've started the drilling back when Clinton was in office. Clinton's retarded, he's mumbling to himself right now as we speak: mmhmm now why didn't I think of that???
                    3 WORDS: Special Interests Groups.
                    Not to be mean to Shawtee or anything... but I'm a proud American who believes in the "MADE IN THE USA" tag. And if we're gonna dig ourselves out of the hole, we have to drill ourselves out of the hole. After all, we did acquire Alaska for more than just delicious salmon and Klondike bars.
                    Both environmentalists AND economists say this is a dumb idea. It's going to have little to no effect on our economy. Economists estimate that if this is done it will only effect gas prices by around $.05/gallon. And estimates are that it won't have any effect for 5 - 20 years, depending upon who you're talking to. Oil refinement takes yearsssssssss to complete and it depends on what kind of oil they find and where they find it. This idea is absolutely retarded.

                    NEW YORK (CNNMoney.com) -- The U.S. has huge amounts of untapped oil, but pesky politicians and environmentalists won't let us get it.

                    That's a common cry heard from some lawmakers and nearly everyone working at an oil and gas company. If the U.S. wants to help keep the market adequately supplied with oil and perhaps lower prices they say, it needs to open up vast sections of the country currently off-limits to oil and gas exploration.

                    But given the amount of time it would take to get new drilling projects up and running, and the relatively small amount of oil they'd likely yield, most analysts say more drilling in the U.S. would do little to help solve the world's dual energy challenge of meeting rising demand while cutting greenhouse gasses.

                    Some 60% of all federal land as well as most of the East and West coasts are currently subject to drilling bans - many were put in place after a big oil spill off the coast of Santa Barbara, Calif., in 1969.

                    If these areas are not opened, it certainly won't be for lack of trying.

                    Oil industry executives harped on these drilling bans in testimony before Congress last week, telling lawmakers lifting them was one of the few things they could do that might have a prayer of lowering oil prices.

                    Several Republican-led efforts to lift the drilling bans have emerged in Congress, but they have all failed so far.

                    "We're the only developed country that methodically restricts access to resources," said Richard Ranger, senior policy advisor at the American Petroleum Institute. "We can't conserve our way out of this. We're going to need a mix of policies, but increasing production is going to be part of that mix."

                    It's hard to say how much oil lifting the bans would provide - very little exploratory drilling has been done in most of these areas.

                    But using estimates based on the limited information available from the Minerals Management Service, the Bureau of Land Management and the Energy Information Administration, lifting the bans might boost the nation's oil production by 1 or 2 million barrels a day by sometime next decade.

                    These estimates are for conventional crude oil. They do not take into account the vast amounts of oil shale or tar sands that do exist in the country, but are either very expensive to develop or come with significant environmental costs.

                    Either way, 2 million barrels of oil is not an insignificant amount. It's roughly equal to the amount of oil currently pumped in Nigeria, and would increase the current U.S. output of 8.5 million barrels a day by over 20%.

                    But the projects would take a long time to come online. Places like the Atlantic coast, thought to be rich in natural gas, lack drilling platforms, pipelines, terminals, storage facilities, and other energy infrastructure. EIA estimates that if Alaska's Arctic National Wildlife Refuge were opened for drilling tomorrow, oil wouldn't flow at full tilt until 2025.

                    Plus, oil is a global market. It's true that oil pumped in the U.S. could stay in the U.S. But prices will be determined by international, not national, supply and demand.

                    By 2025, world consumption, currently at about 85 million barrels a day, is expected to swell to well over 100 million barrels a day. That makes 2 million barrels a day look pretty small.


                    "I wouldn't say it's a drop in the bucket," said Greg Priddy, a global energy analyst at the Eurasia group. "But it changes things only marginally over the long term."

                    Priddy said these 2 million barrels a day would need to be balanced against steep production declines expected in many non-OPEC areas like Russia, Mexico and the North Sea over the next several years. Non-OPEC production is expected to peak within the next decade or two, regardless of what the U.S. does, he said.

                    "It really just delays the day of reckoning a bit," he said.

                    Environmentalists, of course, hate the idea of more drilling rigs in the wilderness or offshore on continental shelves rich in marine life.

                    They say spills will happen regardless of how careful the industry is, although numbers from the Minerals Management Service show the industry has greatly improved their environmental record. Also, countries like Canada and Norway, hardly known for being environmental mavericks, pursue aggressive offshore drilling plans.

                    The larger argument put forth by the environmental community is that more oil will not solve the world's energy challenge.

                    "When you're addicted, the first thing you want to do is stop drinking," said Adam Kolton, director of congressional affairs for the National Wildlife Federation, referring to President Bush's State of the Union speech when he said the nation was addicted to oil. "What the American people want is an end to dependency on oil and a focus on alternatives."

                    Kolton said more and cheaper oil will only foster the same culture of big cars and sprawling houses we've become accustomed to, and leave us even more dependent on OPEC 20 or 30 years out.

                    "This is just more of the failed policies of the past," he said.

                    Environmentalists also push for focusing more on conservation.

                    If the U.S. switched to plug-in hybrid electric vehicles, the country would save 3.8 million barrels of oil a day - roughly twice what new drilling would provide - according to the Natural Resources Defense Council.

                    Most analysts agree that conservation will play a greater role in meeting energy demand than drilling in the U.S.

                    "It's not a comprehensive solution to the energy problem," Newedge brokerage Deputy Head of Research Antoine Halff said, referring to lifting the drilling ban. "If you want to design energy policy, you have to think about demand."

                    Source:http://money.cnn.com/2008/05/30/news...ion=2008053011

                    Alternate energy is the way to go. Sooner or later people need to realize this. Oil ain't gonna last forever and we need to lessen our dependency on it. Thank God the oil companies are starting to get on board with that idea. Or at least that's what they say anyway. lol.

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                    • #11
                      This is a GOOD thing. There are bigger problems than protecting wildlife.
                      Steelers|KU Jayhawks|USC

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                      • #12
                        How is this gonna help?

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                        • #13
                          Experts say offshore oil drilling would not have an immediate impact on oil prices because oil exploration takes years..

                          by then we would have electric cars perfected

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                          • #14
                            Well, considering fully electric cars were pretty much abandoned I highly doubt that. Drilling for oil will help the US get out of other countries and help stop being dependent on them. Foreign affairs aren't very good lately, if you haven't noticed. I don't understand your question, how will it help? There are obvious benefits to drilling for our own oil. There is talk about doing it in Alaska too. Sorry wildlife.
                            Steelers|KU Jayhawks|USC

                            Comment


                            • #15
                              Originally posted by blair19 View Post
                              Well, considering fully electric cars were pretty much abandoned I highly doubt that. Drilling for oil will help the US get out of other countries and help stop being dependent on them. Foreign affairs aren't very good lately, if you haven't noticed. I don't understand your question, how will it help? There are obvious benefits to drilling for our own oil. There is talk about doing it in Alaska too. Sorry wildlife.

                              US has plenty of oil that it doesn't even use, last time I checked they bought 90% of oil from other countries.
                              Everybody was born to hustle
                              It's a very thin line between a boss and a muscle
                              - Xzibit

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