President Bush finally removes his head from his ass... Obama's is still lodged. - High-Def Digest Forums
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Old 07-14-2008, 01:45 PM
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Default President Bush finally removes his head from his ass... Obama's is still lodged.

Bush to lift executive ban on offshore oil drilling

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

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

"If we were to drill today, realistically speaking, we should not expect a barrel of oil coming out of this new resource for three years, maybe even five years, so let's not kid ourselves," said Fadel Gheit, oil and gas analyst with Oppenheimer & Co. Equity Capital Markets Division.

But it almost certainly would be profitable.

Candida Scott, an oil industry researcher at Cambridge Research Associates, said oil needs to be priced at $60 a barrel or more to justify deep-shelf drilling. With oil now selling for $145 a barrel, companies are almost assured of profiting from offshore drilling, Scott said.
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In his statement last month, Bush also renewed his demand that Congress allow drilling in Alaska's Arctic National Wildlife Refuge, clear the way for more refineries and encourage efforts to recover oil from shale in areas such as the Green River Basin of Colorado, Utah and Wyoming.

The White House estimates that there are 18 billion barrels of oil offshore that have not been exploited because of state bans, 10 billion to 12 billion in the Arctic National Wildlife Refuge and 800 billion barrels of recoverable oil in the Green River Basin.


ORIGINAL LINK: http://www.cnn.com/2008/POLITICS/07/...ore/index.html
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Old 07-14-2008, 01:57 PM
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Where I think this would benefit our economy.... I still think it would be like putting a bandaid on a hatchet wound. We need to seek alternative fuel options. I'm not a tree hugger, but I think we should do all we can to reduce emissions and build more efficient vehicles and go Hydrogen or straight up electric with faster charging longer lasting batteries.

I'm more excited about progressive technologies than keeping current technologies around just because we can. If I lived in the LA area, I'd try to get on the list for the Honda Clarity, a hydrogen fuel cell car.... only down side is there only 3000 of them and they cost $600/month to lease for three years while they test market them.
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Old 07-14-2008, 01:57 PM
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Originally Posted by IceNine View Post
Bush to lift executive ban on offshore oil drilling

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

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

"If we were to drill today, realistically speaking, we should not expect a barrel of oil coming out of this new resource for three years, maybe even five years, so let's not kid ourselves," said Fadel Gheit, oil and gas analyst with Oppenheimer & Co. Equity Capital Markets Division.

But it almost certainly would be profitable.

Candida Scott, an oil industry researcher at Cambridge Research Associates, said oil needs to be priced at $60 a barrel or more to justify deep-shelf drilling. With oil now selling for $145 a barrel, companies are almost assured of profiting from offshore drilling, Scott said.
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In his statement last month, Bush also renewed his demand that Congress allow drilling in Alaska's Arctic National Wildlife Refuge, clear the way for more refineries and encourage efforts to recover oil from shale in areas such as the Green River Basin of Colorado, Utah and Wyoming.

The White House estimates that there are 18 billion barrels of oil offshore that have not been exploited because of state bans, 10 billion to 12 billion in the Arctic National Wildlife Refuge and 800 billion barrels of recoverable oil in the Green River Basin.


ORIGINAL LINK: http://www.cnn.com/2008/POLITICS/07/...ore/index.html
Well... we got to do something, and this is all we can do for now. We have to come up with a long-term strategy to solve this issue, but don't hold your breath on that. It requires working together.
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Old 07-14-2008, 02:03 PM
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Originally Posted by weaponX6282 View Post
Where I think this would benefit our economy.... I still think it would be like putting a bandaid on a hatchet wound. We need to seek alternative fuel options. I'm not a tree hugger, but I think we should do all we can to reduce emissions and build more efficient vehicles and go Hydrogen or straight up electric with faster charging longer lasting batteries.

I'm more excited about progressive technologies than keeping current technologies around just because we can. If I lived in the LA area, I'd try to get on the list for the Honda Clarity, a hydrogen fuel cell car.... only down side is there only 3000 of them and they cost $600/month to lease for three years while they test market them.
Don't get me wrong, I am ALL for alternative fuel, as long as it is not cost-prohibitive.
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Old 07-14-2008, 02:28 PM
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It's becoming more and more apparent that if people want higher gas prices they must keep voting for democrats. Judging by Sen. Reid's comments, I think it's sad how much they are willing to hurt the poor and middle class by doing nothing to lower gas prices. They aren't introducing any legislation for alternative fuels that has any chance of getting passed. If they were serious about the issue, they would compromise with the Republicans and drill for more oil AND mandate federal appropriations for alternative fuel research, development, and implementation.

The problem is with this congress, they just won't do anything. They are all blaming each other and not doing anything. Everyone has to vote out their current representatives. There are too many politicians that have made a career out of being "for the people" and they have forgotten about what their job is.
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Old 07-14-2008, 03:44 PM
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It's becoming more and more apparent that if people want higher gas prices they must keep voting for democrats. Judging by Sen. Reid's comments, I think it's sad how much they are willing to hurt the poor and middle class by doing nothing to lower gas prices. They aren't introducing any legislation for alternative fuels that has any chance of getting passed. If they were serious about the issue, they would compromise with the Republicans and drill for more oil AND mandate federal appropriations for alternative fuel research, development, and implementation.

The problem is with this congress, they just won't do anything. They are all blaming each other and not doing anything. Everyone has to vote out their current representatives. There are too many politicians that have made a career out of being "for the people" and they have forgotten about what their job is.
Isn't that how congress is SUPPOSE to work? The founding fathers built gridlock into the legislative branch.
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Old 07-14-2008, 03:58 PM
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Originally Posted by Praetorian View Post
It's becoming more and more apparent that if people want higher gas prices they must keep voting for democrats. Judging by Sen. Reid's comments, I think it's sad how much they are willing to hurt the poor and middle class by doing nothing to lower gas prices. They aren't introducing any legislation for alternative fuels that has any chance of getting passed. If they were serious about the issue, they would compromise with the Republicans and drill for more oil AND mandate federal appropriations for alternative fuel research, development, and implementation.

The problem is with this congress, they just won't do anything. They are all blaming each other and not doing anything. Everyone has to vote out their current representatives. There are too many politicians that have made a career out of being "for the people" and they have forgotten about what their job is.


The main reason why alternative fuels are being talked about more around the country and in Washington is because of the sense of urgency caused by $4+ per gallon gasoline.

People have short memories, once the prices go down, the sense of urgency for developing alternative fuels will also go away, politicians will shelve the development in favor of spending that money on other things and we'll be back where we are now once our domestic supply starts running out.

It won't be as profitable to develop and distribute a new alternative fuel if it has to compete with cheaper gasoline.
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Old 07-14-2008, 04:08 PM
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Better late then never. Personally Bush deserves heavy critizim for waiting so long for this. Hopefully this will make a difference at the pump.
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Old 07-14-2008, 04:44 PM
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Originally Posted by arrowspark View Post
The main reason why alternative fuels are being talked about more around the country and in Washington is because of the sense of urgency caused by $4+ per gallon gasoline.

People have short memories, once the prices go down, the sense of urgency for developing alternative fuels will also go away, politicians will shelve the development in favor of spending that money on other things and we'll be back where we are now once our domestic supply starts running out.

It won't be as profitable to develop and distribute a new alternative fuel if it has to compete with cheaper gasoline.
That's my whole point. If it's not profitable to develop alternatives to oil when the the price is cheap, there is no reason to sacrifice the poor and middle class by taxing them with high gas prices in order to gain awareness for alternatives.

All they need to do is mandate yearly appropriations to the development of alternative fuels that can't be unappropriated, but can only expire. Just like what what President Bush did with the tax cuts that expire in 2009. They won't do that because the democratic congress doesn't want a solution, they want the issue. No Republican would vote no to that. The problem is that alternatives aren't going to be viable for 20 years at least, but in the meantime we can start drilling to reduce our prices in 10 years.
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Old 07-14-2008, 04:48 PM
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Obamas arguement that we shouldn't offshore drill because it won't have an emediate effect is possibly the dumbest liberal arguement I have ever heard. And trust thats saying something. Its such a dumb arguement that it amazes me a clown that would use it actually has a chance of being President. In that line of reasoning nobody should go to school of any kind cause the returns of an education are years away and there are no positive effects anytime soon. Only a maddman would use such reasoning
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