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Come One, Come All To The Energy Party!
By Mr Ethanol | July 30, 2008
Mother Proof:
President Bush recently lifted an executive ban that restricted offshore oil drilling, but the move won’t affect gas prices unless Congress lifts its ban as well, according to the Associated Press. Bush says he’s trying to ease market tensions and boost oil supplies, but Congress hasn’t jumped on board yet.
Both the executive and congressional bans were enacted in 1990 (during the first President Bush’s administration) “to protect beaches and coastal states’ tourism economies.” 
Now the president is going to the energy party, and he’s hoping Congress will show up too (but not wearing the same outfit). He wants Congress to come along because his move means nothing unless it lifts its ban.
What would be the end result? How long will the party last? Let’s pretend that all bans are lifted, and exploration and drilling yield some of that bubblin’ crude … black gold … Texas Tea? The White House says we could get 18 billion barrels over time, but it would take years for production to start. Read on…
Topics: Energy, Legislative, Oil |
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