Posted by: shanghaitechnology | July 17, 2008

Bush Eliminated the Ban on Offshore Oil Exploitation

This IT news is provided from the ShangHai XingGuo Net Technology co.,Ltd

U.S. President George W. Bush announced on the 14th that he would relieve the ban of offshore oil drilling in the United States and urged Congress to take similar steps to repeal related laws ban, in response to the situation of the continuing rise of international oil price.

U.S. ban on offshore oil exploitation there were two, first promulgated by the U.S. government ban, the Congress is the legal ban. Only two have been lifting the ban at the same time, oil companies in the oil fields before extracting oil. Congress has 27 consecutive maintain the legal ban, while the U.S. government’s administrative ban began in 1990.

Bush called on Congress to end the legal ban. He said: “barrier in the Americans and the rich oil resources between the United States Congress is the only obstacle to action. Now the ball has been one court of the Congress.” He also said that Americans are paying the price for rising oil prices.

But Democratic members of the Bush expressed opposition to the idea. They believe that even if the expansion of offshore oil exploitation, these additional volume will only drop in the bucket. U.S. government to stabilize oil prices, the most should do is to release strategic oil reserves.

In addition, some U.S. environmentalists also believe that if the development of these offshore oil fields, will seriously damage the surrounding natural environment, productive, and Bush’s exploitation of the motion is to satisfy the interests of the oil group.

The U.S. Energy Department data showed that, though the international crude oil prices continued to surge this year, but the production of U.S. domestic crude oil are 5.1 million barrels a day, lower than last year’s daily average which are about 5.2 million barrels. In early July, the U.S. national average price of regular gasoline has risen to 4.11 U.S. dollars per gallon go up by 1/3 of that in the same period last year.


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