Bush to Lift Executive Ban on Offshore Oil Drilling

Bush to Lift Executive Ban on Offshore Oil Drilling

www.foxnews.com

WASHINGTON — President Bush will lift an executive ban on offshore oil drilling, although new oil exploration on the Outer Continental Shelf will remain off limits until Congress also takes action.

The president will make a Rose Garden statement on Monday, where he is expected to announce his lifting of the ban.

(visit the link for the full news article)

Okay, if any of you have read any of my posts about this administration and this man you will know where I stand.

On this? Well, to put it plain and simple, I have to agree. As long as it isn't open season for drillers to start poking wherever they want I am for this country using its own resources.

Do I think it will help now?

Well, there are two sides to this story. Many feel that it is the speculators that have driven the price of oil through the roof. If this is the case then yes, we will see an almost instant impact on the price of oil.

Others believe that the drive in the price of oil is solely that of demand (even though the consumption numbers are dropping significantly in this country over the last couple months). If that is the case then we won't see much of an impact for as long as two years.

Either way, I for once am supporting a move made by this president.

www.foxnews.com
(visit the link for the full news article)

The oil companies try to blame environmentalists for the lack of oil refinery. I'd like to see what they're excuse will be on this one, I will bet they will find a reason to not drill there.

Please add to existing Thread


Thanks

Thread Closed

Please add comments and opiinons on this topic in the existing news thread found here:

www.abovetopsecret.com...

Closed.