Read the Bills Act Coalition

Wednesday, July 30, 2008

Bush again urges offshore drilling

From Reuters:

President George W. Bush on Tuesday again called on Congress to pass legislation that would give energy companies access to billions of barrels of oil in U.S. waters where energy exploration is now banned...Speaking to workers at a welding plant in Euclid, Ohio, Bush said gasoline prices are high because global oil supplies are not able to keep up with growing demand in countries like India and China, whose economies are strong and whose citizens are buying more cars...To help bring down fuel prices, Bush said the United States needed to develop more of its oil resources, particularly those located offshore, which Bush said held enough supply to meet current U.S. oil demand for 10 years...."It seems like we ought to be figuring out how to find more oil here in the United States," Bush said....Senate Republicans are pushing to modify a pending Democratic-backed energy speculation bill so it would also expand offshore oil drilling and allow the development of huge oil shale reserves in the West.

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