The waning months of having an oilman in the White House kick off today as President Bush is set to announce this afternoon that he is lifting the executive moratorium on new offshore drilling off our coasts. As CNN reports however, this move is largely symbolic as a congressional moratorium continues to remain in place... for now.
"This is the most cynical of political ploys. Even the Bush administration admits that offshore drilling will do absolutely nothing to lower gas prices, today, tomorrow, or even a decade from now. This is nothing more than an attempt to exploit the suffering of hardworking Americans in order to pad Big Oil's bottom line", stated Carl Pope, Sierra Club's Executive Director. (Click here to read Pope's entire statement.)
Unfortunately, thanks to the efforts of State Senator Frank Wagner and Rep. Thelma Drake, Virginia is the only state on the Atlantic coast already set up to start selling off oil and gas leases the very moment that congressional moratorium is lifted. This despite the objections by the U.S. Navy and for 11 other reasons that we outline here. And with an adage otherwise better serving a discount dental clinic, U.S. Senate hopeful Jim Gilmore has also adopted the ridiculous "Drill Here. Drill Now. Pay Less." adage. Thus, elections this November are not only critical for who elect President, but also who we elect to serve us in Congress.
Below the fold are some inescapable facts that Bush completely ignores in favor of playing games with the American people.
The Department of Energy: The DOE's Energy Information Administration says offshore or Arctic Refuge oil won't flow for ten years and prices won't be affected until at least 2027. The impact on price? "Insignificant."
The Department of the Interior: The number of drilling permits on federal lands doubled in the last five years while the price of gas almost tripled. More drilling does not lower prices.
House Natural Resources Committee: Oil and gas companies hold leases to 68 million acres of federal land and waters - an area the size of Nevada - that are producing nothing. Oil production on these lands could cut U.S. oil imports by more than one-third.
John McCain On the effect of more U.S. oil drilling on the price of gas: "I don't see an immediate relief.... Even though it may take some years, the fact that we are exploiting those reserves would have psychological impact that I think is beneficial." Fresno, June 23, 2008
T. Boone Pickens: "I've been an oil man all my life, but this is one emergency we can't drill our way out of." June 8, 2008
The U.S. holds 2% of global oil reserves but consumes 24% of the world's oil. We can't drill our way to energy independence. Conservation, alternative energy sources and technological advances are the cheaper, faster, cleaner, surer way to meet America's energy needs while reducing the threat of global warming.
Your piece is incredibly timely.
BushCo has lifted the executive ban on offshore drilling as of 4 or 5 minutes ago according to the AP.
Seven years later..another "energy crisis"..and this time the call is for more offshore drilling at the conclusion of his administration. Guess W and Cheney need to fund their retirement plans. More of the same gets you more of the same.
...energy companies are starting to devise a way to heat the rock that holds the oil and force the oil up and out of the ground. Still, that oil would not come easily. It would take around one ton of rock to produce enough fuel to last the average car two weeks.Furthermore, energy companies are still years away -- 2015 at the earliest -- from knowing whether this technology can cost-effectively produce oil on a commercial scale.