Bush Calls On Congress To Allow Offshore Drilling

Offshore DrillingAs pressure over America’s energy appetite gets more intense while panic over skyrocketing oil prices and supply insecurity continues to persist — President Bush on Wednesday, according to CNNMoney – called for Congress to “urgently” allow offshore oil drilling in order to reduce pressure on crude and gas prices.

Bush, on July 14, lifted a presidential moratorium on drilling for oil and natural gas on the Outer Continental Shelf — which consists of the submerged lands, subsoil, and seabed, lying between the seaward extent of the States’ jurisdiction and the seaward extent of Federal jurisdiction.

With this move, Bush was hoping to push Congress by acting and clearing the way for exploration along the country’s coastline in response to skyrocketing energy prices.

“The time for action is now, this is a difficult period for millions of American families, said Bush. American drivers are counting on Congress to lift the ban and so are American workers, he added.

The comments come as political pressures are building for a series of votes to expand oil drilling. A majority of Americans think drilling for oil and natural gas in offshore waters is a good idea.

According to a CNN/Opinion Research Corporation poll released Wednesday, which surveyed more than 500 Americans in July, found that 69% of those polled favored the idea of offshore drilling, while 30% opposed it. In June, 73% were in favor of offshore drilling.

All this turns the spotlight ever more now on Congress as record fuel prices – have hurt Americans in the wallets, rising to an average all-time high of nearly $4.10 a gallon last Thursday.

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About Ron Haruni 1070 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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