Executive Oil Drilling Ban to be Lifted

President Bush is expected to announce some time today the executive ban on oil drilling from the continental shelf in the Atlantic will be lifted.

This ban has been in effect dating back to the 70’s.

From the report I listened to on Fox News some 86 billion gallons of oil are out there beneath the shelf. It was also reported that over 1 million barrels of oil per day can be achieved within 15 months to 2 years.

If the president does lift the ban, it would put the ball in congresses court to follow suit and also vote to lift the ban.

I was unable to verify this little tidbit but Fox News also mentioned that soon after they mentioned the possibility of President Bush making this suspected announcement oil prices dropped by a few cents.




Submitted by finder on Mon, 07/14/2008 - 12:09pm.

That would certainly be a good thing. Now if we could just get them to quit holding up exploration and drilling in ANWR we'd really be talking about progress.

Mike Heemer




Submitted by TruthHurts on Mon, 07/14/2008 - 2:26pm.

Mr. Heemer

I agree.

I know it's not the end to all solution but if we could just go hard and fast with it, and at the same time aggressively solve the alternative energy problems we can all get through this with our heads raised high, and our wallets a little fatter.

We are a great nation I know we can do it. It's just getting everyone on the same page thingy.

TRUTHHURTS

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Submitted by TruthHurts on Mon, 07/14/2008 - 4:06pm.

Well he did it!

The Prez. passed the Bill to drill.

Now it's up to our congress to pass it and we will be on our way to solving a part of our immediate energy concerns, and then go after our long term needs as well.

What will the Dems do?? That is the big question. Lets see what they are really made of. 

TRUTHHURTS

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Submitted by TruthHurts on Wed, 07/16/2008 - 7:15am.

Just a little update.

As I suspected and mentioned on another post. Soom after the President made his announcement yesterday oil prices dropped more then $9.00 per barrel. I think thats like a 6% drop.

This Info. was from the Fox News morning show.

TRUTHHURTS

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Submitted by whitewolf on Wed, 07/16/2008 - 7:30am.

I would like to see them uncap the oil wells that have been drilled in the western states. Although I cannot find any information on the number of wells that are capped, proably company secrets.

I would like to know how long it takes to set up a rig in the gulf and start producing oil. I think some of the 10 years estimates are way off.

What we need is for the government to tell the environmentlist to stuff it and start building refinerys. I think it is not so much about oil production as it is about producing gas. A lot of people say "not in my backyard" if not there where. How about using the old military bases. Lease it to the oil companys to build refinerys.

We are parasites on this planet. Consume, consume, consume. That is what we are geneticaly engineered to do.

I still say corn gas is bad.

Just my humble thoughts on the  subject.

 

Those who give up freedom for security have neither.

 

 




Submitted by TruthHurts on Wed, 07/16/2008 - 7:35am.

WhiteWolf

I had heard on Fox News That if they went hard, fast, and aggressive they could be up an running in 15 months to 2 years and produce 1 million barrels a day.

I beleive if congress would lift the ban as well and give the Oil companies some kind of incentive to go hard and fast it could be acheived. The big question is will they?

 

TRUTHHURTS

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Submitted by finder on Wed, 07/16/2008 - 7:43am.

It was the biggest one day percentage drop in oil prices in 17 years. Of course it is still over $130 per.

Now we just have to get Congress to do the same. I see the Governator has already come out against any drilling off the California coast.

What we really need is development of the the ANWR site.

The ANWR area is Arctic desert just like Prudhoe Bay. Flat Tundra for miles in every direction except one and that is the Arctic Ocean.  

Mike Heemer




Submitted by TruthHurts on Wed, 07/16/2008 - 7:48am.

Mr Heemer

I agree with you on that.

We are such a great nation, we have the money, we have the technology, we have the American spirit. We can do it. We just need our politcians to wake up and go to wrok for us, and stop worring about all the lobbiest money.

 TRUTHHURTS

Please go to

http://www.fairtax.org/site/PageServer

and sign the petition for the Fair Tax Bill. Tell Congress to pass this Bill.




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