I think the Hairy lady is crazy. Just passing the law would make oil drop considerably. :nuts:
I really don't know but does Pelosi have something to do with HAIR in Italian?
Bush: Congress standing between Americans and offshore oil
- President Bush has lifted executive ban on offshore oil drilling
Congress would have to repeal '80s-era law for drilling to occur
Democrats oppose lifting ban, say drilling will not lower gas prices in near term
Speaker Pelosi calls on president to release oil from strategic reserve to lower prices
- Next Article in Politics »
WASHINGTON (CNN) -- President Bush on Tuesday pressed lawmakers to lift a ban on offshore oil drilling, saying "the only thing standing between the American people and these vast oil resources is action from the U.S. Congress."
President Bush wants Congress to repeal a law that prohibits offshore oil drilling.
On Monday, the president lifted an executive order that prohibited offshore drilling. A 1981 law barring the practice remains in effect, however, and
Congress would have to vote to repeal the law before any drilling could occur. Congressional Democrats have opposed efforts to repeal the ban.
"The sooner Congress lifts the ban, the sooner we can get these resources from the ocean floor to the refineries, to the gas pump," the president said.
"Democratic leaders have been delaying action on offshore exploration, and now they have an opportunity to show that they finally heard the frustrations of the American people,"
Bush said. "They should match the action I have taken, repeal the congressional ban and pass legislation to facilitate responsible offshore exploration."
House Speaker Nancy Pelosi on Monday called the president's decision to lift the executive ban on offshore drilling a "hoax" that won't do anything to reduce prices at the pump. "If the president wants to bring down prices in the next two weeks, not the next two decades, he should free our oil by releasing a small portion of the more than 700 million barrels of oil we have put in the Strategic Petroleum Reserve," Pelosi said in a written statement. She said oil companies already hold millions of acres in unused leases, and should be told to "use it or lose it." Don't Miss
Officials in coastal states, including Florida and California, have also expressed opposition to Bush's push to expand offshore drilling.
California Gov. Arnold Schwarzenegger, a Republican, issued a statement Monday afternoon, saying, "I know people are frustrated with the soaring price of gas, and I welcome the national debate on solutions to lower our energy costs, but in California, we know offshore drilling is not the answer. We will continue to foster a market for alternative energies, because choice is the only way we will ultimately bring down fuel costs."
But Bush on Tuesday said lifting the ban would "send a signal that we're willing to explore for... oil here at home."
"I fully understand this is... a transition period away from hydrocarbons," he said. "But we ought to be wise about how we ... use our own resources."
The potential damage drilling could cause to reefs has been a major reason driving opposition to an expansion of offshore drilling, but Bush said new technology would allow companies to explore for oil without damaging coastal reefs.
"I'm concerned about the reefs. I'm a fisherman. I like to fish. Reefs are important for fisheries," Bush said.
"But the technology is such that you can protect the reefs," he said, noting that new techniques allow for companies to drill vertically far from a reef, then drill horizontally to oil reserves that are under sensitive reef environments.
http://www.cnn.com/2008/POLITICS/07/15/bush.oil/index.html
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