Business

Bush lifts oil drilling ban, wants Congress to act
by Michaela Vargova

Putting pressure on congressional Democrats to back more exploration for oil, President Bush on Monday lifted an executive ban on offshore oil drilling that his own father put in place in 1990.
Democratic lawmakers have long opposed lifting the prohibition that has barred energy companies from waters along both the East and West coasts and in the eastern Gulf of Mexico. Until today, a whole succession of presidents, also including the current one, has sided with Congress for each of the last 27 years in barring drilling in these waters. The main aim has been a protection of beaches and coastal states' tourism economies. From that reason has been the congressional ban renewed yearly.
However, it still remains unclear how much oil would be available. Bush pronounced it could eventually be enough to produce 10 years' worth of America's current oil production. Democrats rejected Bush's plan as a stunt, which will neither reduce gas prices nor increase energy independence. Although, the move to extend oil exploration will have no practical effect unless Congress acts, too. Both executive and legislative bans have to be lifted before offshore exploration can happen.
Disputative point of the case is, that the president probably doesn't realize there is no exactly direct link between record gas prices and offshore drilling. Knowing bussiness relations is a key point of the whole case and he, whether consciously or unconsciously, just glossed over it. Even if Congress agreed, the exploration for oil would take years to produce real results. It is not projected to reduce gas prices in the short term.
Nor these opinions did not stop Bush from building his case around today's prices at the pump. Furthermore, a favour comes from business groups and many Republican lawmakers. Criticism comes from Democratic lawmakers and environmental groups. However, the public is growing impatient for answers. Nearly half the people surveyed last month said they now consider energy exploration and drilling more important than conservation.

by Michaela Vargova for PocketNews (http://pocketnews.tv)

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