| Sign-up for Free Breaking News Email Alerts! |
| Sign in | Register | View Today's Print Edition · Buy Photos · Place an Ad · Subscription Rates · Forms · Contact Us · About Us |
|
![]() |
| Browse Categories (Add your business to the Texarkana Business Directory) |
|
House OKs offshore drilling
WASHINGTON—The House has voted to allow oil drilling off the nation’s Atlantic and Pacific coasts if states agree —but only 50 or more miles out. Republicans called the bill a ruse, saying that’s well beyond where most of the estimated 18 billion barrels of oil is located.
House Speaker Nancy Pelosi said the bill—approved late Tuesday 236-189—marked “a new direction in energy policy” because of its emphasis on alternative energy. The bill rolls back $18 billion in oil industry tax breaks and imposes new oil and gas royalties, while giving tax incentives for wind and solar industries and for conservation. Even before the vote, the White House said President Bush would veto it if it passed Congress. Pelosi, who not long ago characterized Republican demands to lift the ban on offshore drilling a hoax, shifted gears in recent weeks and conceded some drilling measure would have to be part of any energy package. Expanded offshore drilling has become a mantra of GOP energy policy that has been felt on the presidential and congressional campaign trails, despite wide agreement that lifting the drilling ban—in place for 26 years—would have little if any impact on gasoline prices or produce any oil for years. Republican presidential candidate John McCain’s vowed at the recently concluded GOP convention to push for new offshore oil and gas drilling amid delegate chants of “drill, baby drill” and his Democratic rival, Barack Obama, said he supported more drilling as part of a broader energy package. The Democrats’ bill would allow drilling in waters 50 miles from shore almost everywhere from New England to Washington state as long as a state agrees to go along with energy development off its coast line. Beyond 100 miles, no state approval would be required. The drilling ban would remain in the eastern Gulf of Mexico. But Republicans lashed out at the Democratic concession and accused Pelosi of trying to deceive the public and simply provide cover from Democrats this election year with a vote on offshore drilling. |
Local News Archive Calendar
Sponsor Advertisements
Featured Business
Featured Business
|
|
|
2009 (c) Copyright Texarkana Gazette
Web design by: Joe Regan
Owner of: WebProJoe.com Web Design Company