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Archive for Tuesday, July 15, 2008

Bush lifts drilling ban, wants Congress to act

July 15, 2008

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— President Bush on Monday lifted an executive ban on offshore oil drilling and challenged Congress to follow suit, aiming to turn the enormous public frustration about gasoline prices into political leverage. Democratic lawmakers rejected Bush's plan as a symbolic stunt.

With gas prices topping $4.10 a gallon nationally, Bush made his most assertive move to extend oil exploration, an energy priority of his presidency. By lifting the executive prohibition against coastal drilling, Bush rescinded a White House policy that his own father put in place in 1990.

The move will have no practical effect unless Congress acts, too. Both executive and legislative bans must be lifted before offshore exploration can happen.

Comments

salad 6 years, 2 months ago

parkay (Anonymous) says: "Democrats in Congress are clearly at fault, and have been for over 20 years, for blocking domestic oil production, which has kept oil prices high and dragged down our economy."Oooooo...revisionist history. Sorry, but the Republicans have had control of congress & senate since 1994, and complete control of all three branches of the govt. since 2000. Since 2006 the democrats have had just a slim enough majority to ensure that everything they try gets blocked by the Bushies. Swing and a miss Parkay, try again.

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jaywalker 6 years, 2 months ago

I believe it's something like $600 billion we send to the Middle East every year for oil. Wouldn't it be better to invest that money here and harvest our own? I understand it'll take a while, but let's get started. China and India are going to be wanting more and more, seems wise not to rely on others for something so vital to America.And if we could only get the Fair Tax implemented so that the $500 billion we spend every year trying to comply with the IRS could be re-circulated into the economy......

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salad 6 years, 2 months ago

As has been mentioned before, although the price of gas is high, there does not appear to be any kind of shortage. Tough medicine to be sure, but better than rationing.Let's NOT drill just yet; let the SUV die a painful sputtering death first.

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just_another_bozo_on_this_bus 6 years, 2 months ago

Oil companies have leases for drilling on millions of acres of land, and they sit idle. Even if all areas with oil are opened up for drilling, very likely no drilling will even be attempted, and in those areas where it is, it'll take years to get production, and even then will have minimal effect on world oil supplies or the price paid at the pump.Quite simply, demand is greater than supply, and that will never change.

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salad 6 years, 2 months ago

"I think the higher gas prices are a good thing, I know it has changed my driving habits for the better."ditto

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georgeofwesternkansas 6 years, 2 months ago

"salad (Anonymous) says: As long as there is adequate supply, we'll all somehow manage. Let's not forget all the rationing our parents & grandparents had to do during WWII. It seems to have made them our greatest generation. Why don't we aspire to the same standard?"That would mean giving up AC & TV. No thanks, lets just use up all the oil.

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PapaB 6 years, 2 months ago

As much as it pains me (as an OU fan), T. Boone Pickens has a great plan about our energy crisis. Go to http://www.pickensplan.com/ and check it out. He focuses on using wind energy provide the electricity for our homes, freeing natural gas for cars, lessening the need for oil.

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Beth Bird 6 years, 2 months ago

AHHHH! NO!!!!This is not the answer!!!!Papa B is right - Check it out!http://www.pickensplan.com/

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Flap Doodle 6 years, 2 months ago

"Quite simply, demand is greater than supply, and that will never change."So that means we shouldn't increase supply, bozo?

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monkeyspunk 6 years, 2 months ago

I think the higher gas prices are a good thing, I know it has changed my driving habits for the better. What good will oil made available in 10 years do us now? Especially if you consider the advances made in alternate fuel sources just in the last five years. By the time that crude is made into gas, we will most likely be shipping it to China or India. This is politics. Neither leader is going to bring about effective change as long as the oil companies know that we are too stupid to change our habits and truly affect the market.

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salad 6 years, 2 months ago

As long as there is adequate supply, we'll all somehow manage. Let's not forget all the rationing our parents & grandparents had to do during WWII. It seems to have made them our greatest generation. Why don't we aspire to the same standard?

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salad 6 years, 2 months ago

madmike (Anonymous) says: "self-important liberal that knows what is best for everyone, and is willing to legislate."jump, jump, jump....you must be part bunny with all these whacky leaps of logic....or you're a neo-con. Certainly we need to legislate against YOU and those like you mikey, who only know what's worst for the country. I actually don't want any legislation or govt. action. The market should decide correct prices without any meddling. ...wait-a-minute! Madmike, are you suggesting government intervention in normal market forces?!?! Are you suggesting that the government artificially alter supply, just so you can have cheap gas?!?! Why do you hate capitalism madmike??? Why do you hate freedom so much mike???

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salad 6 years, 2 months ago

madmike (Anonymous) says: "So Salad wants to put it to his fellow Americans. Very typical of you!"You must be a superhero to be able to make such an amazing leap! You, quite frankly, wouldn't know anything typical of anybody mickey, but nice try.I want my fellow Americans (like you madmike), to stop being a bunch of lazy, whiny, greedy, slackers, who need everything handed to them, and can't make or do anything for themselves. If you drive an SUV, you are the problem.Death to waste! Death to greed! Death to the SUV!

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just_another_bozo_on_this_bus 6 years, 2 months ago

"So that means we shouldn't increase supply, bozo?"Given that doing so could very well produce more harm than good, I'd say no.

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Daytrader23 6 years, 2 months ago

screedposter (Anonymous) says: "68 Million acres leased and not developed by oil producers."Again, at $145 / bbl, what does that tell you about the "leases?"It says that there really is not as much oil as they thought. We cannot drill our way out of this. It will be long, and it will be hard, but it's time to move to a hydrogen economy.Oil is now a scarce resource. Sure the price will temporaily drop, (due to profit taking) but in the next few years $200 to $300 per barrel will be the norm. Check out the movie Oil Crash. Thats all you need to know. Just watch it.

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Jerry Stubbs 6 years, 2 months ago

In 2006 several new leases were opened off the gulf coast of Florida. The oil companies are just getting started using and exploring those areas. If they are successful it will be several more years for the oil to come. It is very expensive to drill offshore and a dry hole is much worse (economically) than on land. Don't think that simply opening leases will result in instant discoveries and a quick drop in oil prices. By the time this gets hashed out in Congress it will be about 10 years before we get anything--if they are successful.

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staff04 6 years, 2 months ago

68 Million acres leased and not developed by oil producers.Domestic refineries not operating at capacity.Record profits for oil companies.Yep, it's the Democrats that are responsible for high oil prices and record profits of oil companies.Seriously, did you get dropped on your head as a child?

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notajayhawk 6 years, 2 months ago

just_another_bozo_on_this_bus (Anonymous) says: "Oil companies have leases for drilling on millions of acres of land, and they sit idle."Maybe you - and others who have said the same thing - might want to make sure of that. I know the Democrats said it so it must be true. But you just might want to check and see if those 68 million acres are "sitting idle." (Acreage under exploration and development but not yet producing is not the same thing as sitting idle.) And are all the leases okayed for production, or just for exploration (if even that)? And how exactly did the Democrats come up with the figures of how much oil is supposedly under those acres? Oh, yeah, they 'extrapolated.' In other words, they assume as fact that every acre of every federal oil lease is capable of producing at the same rate. (Um - doesn't it make just a tiny bit of sense to assume the drilling would begin where the oil is, and the acres left idle would be were it isn't?)To quote the Institute for Energy Research:- If we use the very same extrapolation, we can estimate that all 2.45 billion acres of the mostly-inactive federal estate (onshore and offshore) could be leased to produce an additional 160 million barrels of oil each day. That's almost double the amount that is produced on a daily basis in the entire world.- If we use the very same extrapolation, we can estimate that the 9.4 billion acres of the currently non-producing moon orbiting our earth could produce an additional 654 million barrels each day. That would supply America's total annual demand in less than 12 days (but the pipeline construction would be a bear).And yes, I realize this is hardly an unbiased source - but instead of dismissing it out of hand, maybe you should consider the logic of what he's saying:http://online.wsj.com/article/SB121391719487790187.htmlOr better still, instead of listening to that source, or to me, do yourselves a favor and research the facts for yourself. I know boohoozo won't even look it up, his party leaders have spoken and he wouldn't dare to question them. But for the rest of you, I can only urge you to check the facts.

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