To Drill or Not to Drill…That is the question

Last month, President Bush lifted the executive ban on offshore drilling which was imposed during George Bush Sr.’s administration, and 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. This decision came about because of the high cost of gasoline at the pumps.

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.

Congress, however, begain their second summer vacation in early August without putting the Republican energy legislation, aptly called the Drill Now Act of 2008, to a vote. Nancy Pelosi, the Speaker of the House, and fellow House Democrats, opposed the Republicans’ request for a vote on the bill. Some Republicans attempted to get Democrats to come back for a vote by remaining in chambers after Congress adjourned, making speeches on energy policies.
Earlier this week, however, on Larry King Live, Ms. Pelosi said that would consider a vote if it were part of a larger energy package. Perhaps, Congress will be called back from their 5 week vacation to consider this.


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