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o2ny
Heavy Crude
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Joined: Apr 27, 2005
Posts: 245
Location: new york city wacko
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 Posted: Wed Sep 24, 2008 2:40 pm Post subject: Democrats allow drilling ban to lapse |
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http://money.cnn.com/2008/09/23/news/economy/offshore_drilling.ap/index.htm?postversion=2008092318
| Quote: | Party lawmakers decide to allow a long-standing ban on drilling for oil to expire next week, opening up the nation's coastlines for business.
WASHINGTON (AP) -- Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a month-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer.
Appropriations Committee Chairman David Obey, D-Wis., told reporters Tuesday that a provision continuing the moratorium will be dropped this year from a stopgap spending bill to keep the government running after Congress recesses for the election.
Republicans have made lifting the ban a key campaign after gasoline prices spiked this summer and public opinion turned in favor of more drilling. President Bush lifted an executive ban on offshore drilling in July.
"If true, this capitulation by Democrats following months of Republican pressure is a big victory for Americans struggling with record gasoline prices," said House GOP leader John Boehner of Ohio.... |
I guess 'Drill! Drill! Drill!' is 'on! on! on!'. Well at least we'll finally know how much is out there to put all these ridiculous estimates ala 'Kudlow' to rest.
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"If you're always looking for the invisible hand to guide you, you will find that the invisible hand often gives you the invisible finger." - some guy on CNBC |
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Plantagenet
Expert
Joined: Apr 09, 2007
Posts: 6376
Location: Alaska (its much bigger than Texas).
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| Posted: Wed Sep 24, 2008 2:46 pm Post subject: Re: Democrats allow drilling ban to lapse |
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Actually, its still up to individual states to allow offshore drilling, so no drilling will happen anywhere beyond current areas unless coastal states vote to allow it.
The exception is Alaska, where the state had previously voted to open its offshore areas. |
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Fishman
Intermediate Crude
Joined: Aug 11, 2005
Posts: 826
Location: Eastern NC
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| Posted: Wed Sep 24, 2008 3:16 pm Post subject: Re: Democrats allow drilling ban to lapse |
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| Though I have no problem with a little more drilling, this again show the complete lack of any governing skills by the Democrats. They can't lead their way out of a wet paper bag. |
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Cashmere
Light Sweet Crude
Joined: Mar 27, 2008
Posts: 1971
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| Posted: Wed Sep 24, 2008 3:31 pm Post subject: Re: Democrats allow drilling ban to lapse |
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Cumulative evidence that
Democrats=Republicans.
_________________
Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group. |
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ProudFossil
Heavy Crude
Joined: May 26, 2008
Posts: 101
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| Posted: Wed Sep 24, 2008 4:16 pm Post subject: Re: Democrats allow drilling ban to lapse |
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| Fishman wrote: | | Though I have no problem with a little more drilling, this again show the complete lack of any governing skills by the Democrats. They can't lead their way out of a wet paper bag. |
The socialists would be afraid to get in the wet paper bag in the first place, they would vote present. |
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johhnytrash
Tar Sands
Joined: May 25, 2008
Posts: 24
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| Posted: Thu Sep 25, 2008 8:49 am Post subject: Re: Democrats allow drilling ban to lapse |
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And the very first thing the news said was it would take at least 3 years to see any of the oil, if they start work immediately. Yay, months of sloganing and arguing to save 3 or 4 cents a barrel in 3 or 4 years. YAY GOP victory!! Maybe the dollar will be worth today's penny and then people will think it's saving alot. The stupidity of it all is really starting to get me down.
Can't oil be traded in euros and get this hyperinflation going already? I want to sell some bread and pay off my student loans. |
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ROCKMAN
Intermediate Crude
Joined: May 27, 2008
Posts: 976
Location: TEXAS
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| Posted: Thu Sep 25, 2008 8:57 am Post subject: Re: Democrats allow drilling ban to lapse |
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Johhny,
Forget the 3 year time table. Under normal circumstances it takes at least 2 years at best to get a lease sale in place. And that's with no state interference or law suits. I would say at least 4 years before the first drilling rig spuds in and then probably another 3 to 4 years before any SIGNIFICANT volume of oil/gas is produced. Bottm line: 7 to 10 years before any significant production hits the market place.
I'm all for opening up the new areas but no one should be promising the impossible. |
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Plantagenet
Expert
Joined: Apr 09, 2007
Posts: 6376
Location: Alaska (its much bigger than Texas).
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| Posted: Thu Sep 25, 2008 10:22 pm Post subject: Re: Democrats allow drilling ban to lapse |
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| johhnytrash wrote: | | YAY GOP victory!! |
Its the dems who run Congress.
If Pelosi and the dems want to keep the ban on drilling in place all they have to do is hold a vote and reinstate the ban on drilling. Harry Reid has already said the Congress will revisit the drilling issue after the election..... |
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