Bush lifts executive ban on offshore drilling

Bush lifts executive ban on offshore drilling

news.yahoo.com

WASHINGTON - Putting pressure on congressional Democrats to back more exploration for oil, President Bush on Monday lifted an executive ban on offshore drilling that has stood since his father was president. But the move, by itself, will do nothing unless Congress acts as well.



There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order signed by the first President Bush in 1990. The current president, trying to ease market tensions a

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I knew this would happen today. To cover up all the banking collapses, they give wall street something else to talk about...

Does anyone actually think that this is going to change anything at this point? This is not a short term solution, nor a long term solution. It is VERY expensive...

Bush criticized Congress for failing to lift its own ban on offshore drilling.

"For years, my administration has been calling on Congress to expand domestic oil production," Bush said. "Unfortunately, Democrats on Capitol Hill have rejected virtually every proposal. And now Americans are paying at the pump."

Sen. John McCain, the presumptive Republican presidential nominee, called Bush's move "a very important signal" and said his Democratic rival, Sen. Barack Obama, should drop his opposition to offshore drilling.

news.yahoo.com
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[edit on 14-7-2008 by jasonjnelson]

[edit on 14-7-2008 by jasonjnelson]