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Bush Renews Call for Offshore Drilling


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http://news.aol.com/story/_a/bush-renews-call-for-offshore-oil/20080618093109990001

 

Bush said offshore drilling could yield up to 18 billion barrels of oil over time, although it would take years for production to start. Bush also said offshore drilling would take pressure off prices over time.

 

There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order signed by Bush's father in 1990. Bush's brother, Jeb, fiercely opposed offshore drilling when he was governor of Florida. What the president now proposes would rescind his father's decision — but the president took the position that Congress has to act first and then he would follow behind.

 

Congressional Democrats were quick to reject the push for lifting the drilling moratorium, saying oil companies already have 68 million acres offshore waters under lease that are not being developed.

 

"This is not something that's going to give consumers short-term relief and it is not a long-term solution to our problems with fossil fuels generally and oil in particular," said Obama. Senate Majority Leader Harry Reid, lumping Bush with McCain, accused them of staging a "cynical campaign ploy" that won't help lower energy prices.

 

"Despite what President Bush, John McCain and their friends in the oil industry claim, we cannot drill our way out of this problem," Reid said. "The math is simple: America has just three percent of the world's oil reserves, but Americans use a quarter of its oil."

 

I picked out the points that I thought were most interesting. Feel free to add your own.

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I'm all for helping wildlife and making sure we have polar bears and such... However when we have people in our Country making decisons whether to eat, pay bills or put gas in the car, then honestly wildlife comes in way 2nd to that. Not to mention I will never go to Alaska so it really doesnt bother me all that much. Harsh...? maybe but the way I feel. If the US gov said they were going to start drilling else where, (i could be wrong) but I would wager oil/gas would drop at least .25 cents the first week. .

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I'm all for helping wildlife and making sure we have polar bears and such... However when we have people in our Country making decisons whether to eat, pay bills or put gas in the car, then honestly wildlife comes in way 2nd to that. Not to mention I will never go to Alaska so it really doesnt bother me all that much. Harsh...? maybe but the way feel. We the US gov said they were going to start drilling else where, (i could be wrong) but I would wager oil/gas would drop at least .25 cents the first week. .

 

I feel the same way about the wildlife, and I'm going to Alaska in about a month. :lol::D

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I feel the same way about the wildlife, and I'm going to Alaska in about a month. :lol::D

 

 

Let me know how many polar bears you see... :lol:

 

I am not a big politics guy nor do I claim to be, but I just dont understand this crap.... Perfect example of "what makes sense usually doesnt happen."

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Congressional Democrats were quick to reject the push for lifting the drilling moratorium, saying oil companies already have 68 million acres offshore waters under lease that are not being developed.

 

I thought that this was interesting and something I didn't know. Does anyone have any information on this?

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I thought that this was interesting and something I didn't know. Does anyone have any information on this?

 

There are two main reasons for not utilizing the leases that they already have:

 

1. Not all leases are economically viable. Oil companies will buy a group of leases hoping to find oil/gas in that region. They'll do some exploratory drilling but once they determine the probability of finding oil/gas in that area is low they don't bother to drill in neighboring leases.

 

2. Having a lease is not the same as having permit to drill. The government bureacracy, particularly the federal bureacracy, moves at a snails pace and many government agencies actually work against granting permission to drill.

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There are two main reasons for not utilizing the leases that they already have:

 

1. Not all leases are economically viable. Oil companies will buy a group of leases hoping to find oil/gas in that region. They'll do some exploratory drilling but once they determine the probability of finding oil/gas in that area is low they don't bother to drill in neighboring leases.

 

2. Having a lease is not the same as having permit to drill. The government bureacracy, particularly the federal bureacracy, moves at a snails pace and many government agencies actually work against granting permission to drill.

 

Interesting...thank you. :thumb:

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I thought that this was interesting and something I didn't know. Does anyone have any information on this?

 

Yes there is little to no oil that can be drilled for a profit among this land, that is why they were given access to it. It's worthless.

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There are two main reasons for not utilizing the leases that they already have:

 

1. Not all leases are economically viable. Oil companies will buy a group of leases hoping to find oil/gas in that region. They'll do some exploratory drilling but once they determine the probability of finding oil/gas in that area is low they don't bother to drill in neighboring leases.

 

2. Having a lease is not the same as having permit to drill. The government bureacracy, particularly the federal bureacracy, moves at a snails pace and many government agencies actually work against granting permission to drill.

 

Yes there is little to no oil that can be drilled for a profit among this land, that is why they were given access to it. It's worthless.

 

Does anyone have any links on this info? I've looked, but no luck just yet.

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Watch the 2nd episode of the 2nd season of Ice Road Truckers. They are delivering materials to a natural gas drilling facility in Canada north of the Arctic Circle. You will see what they are doing to protect the enivronment while recovering the natural gas. We can drill for oil and gas and not harm the environment. "Drill here, drill now"

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