Bush Lifts Ban On Offshore Drilling

"Now the ball is squarely in Congress' court," Bush told reporters. "The time for action is now."

Monday, July 14, 2008

WASHINGTON (Reuters) - President George W. Bush on Monday lifted an almost 2-decade-old executive order that banned oil and natural gas drilling in most U.S. coastal waters, hoping to encourage Congress to end its own drilling ban.

"Now the ball is squarely in Congress' court," Bush told reporters. "The time for action is now."

The executive drilling ban was issued in 1990 by the first President Bush, and then extended by President Bill Clinton. Congressional Democratic leaders oppose ending the drilling ban, saying oil companies already have 68 million acres under government leases they can drill and any new oil from now-closed offshore areas would not be available for five to 10 years. [...]

Posted by Jimmy Z