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In Easing Offshore Drilling Ban, House Also Expands Energy Exploration Onshore

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Go read Tom Friedman's new book. The debate should not be centered around "drill or not to drill". If 100 years from now we're not getting most of our energy from renewable sources we are... well screwed. Read the book and you'll see the big picture. Innovation and investment in renewables will lead to a better future for our kids AND bigger 401k's.

Neil Betterton of NV 1:12AM September 18, 2008

FUnny this passes days before the firs Presidential debate. Now the democrats can say they voted to pass offshore drilling. This will never pass the Senate and does absolutely no good. It is way too far offshore and offers no incentives to the states. It is a BS way to take that advantage away from MCCain. And Pelosi should be thrown out. ANybody see her website bash offshore drilling? Now she comes out saying they did a great thing for energy independence.. SHe should be thrown out immediately.

Drew of NC 7:15PM September 17, 2008

To the great unwashed environmental masses:
Let's see. Most of the oil we have in this country is
a) not on the established leases
b) a lot of our current production is closer to land than 50 miles
c) the vast majority of offshore area is off limits
Source http://www.mms.gov/5-year/PDFs/ocs_status_map_8e.pdf
Now I'm no oilman but its obvious to me that the majority of west coast oil is drilled within 10 miles of shoreline. Similarly so for the north Alaska coast. On the east coast the shallow continental shelf has lots of potential, but no open leases. Oh and the environmental lawyers are good at holding up expanding exploration where it IS permitted.
The primary argument we hear about this legislation is how drilling now won't solve our problems 100 years from now. OK, I get that. But I'm awfully glad we didn't ignore the coal and steam opportunities of the early 1900s and focus instead on nuclear energy at that time. Oh wait, that's right WE NEVER HEARD ABOUT NUCLEAR ENERGY UNTIL 50 YEARS LATER!
And to add insult to injury, every time a hurricane goes through the Gulf, prices go up. So how our expanding production in other areas would not provide insurance against that is a fool's argument. News flash: hurricanes are an issue YEARLY.
Its further suggested that we should do our best to ignore the resources at our fingertips in order to focus on future technology. Here's a thought, maybe we could better harness that technology once the EUROPEAN atom smashers at CERN are done with their nuclear fusion experimentation (our Congress decided to take a back seat on that, remember)?
Here's a thought: maybe we should stop yammering about technology (unless you have a PhD on the subject of course) and let the oil company keep transporting you daily to your job, the grocery story and your kids to school. Oh and the oil companies are good at hiring folks too. And they grow your 401(k) far better than emerging technologies do. Which maybe is why investors prefer blue chip to the high risk stuff? How do you manage your investment portfolio, exactly?
Put on your reading glasses and discover that we have a short term solution for a problem that can only get easier the more time we take to research and develop. Pick up the hammer and hit the nail on the head until someone figures out how to build a better one.
Savvy?

Rob B of MN 4:59PM September 17, 2008

Seems the spotlight is on the wrong subject. Remember in the 70's when the oil corporations merged, the monopoly started. Gas prices have not stopped going up since. Our elected officials dropped the ball when they let them merge. They all count on the public having short memories! It's true most people dont remember what happened last week little alone 30 year's back. The elected members of the goverment should be held responsible and history books should reflect thier shame by name. Both political parties have failed in this aspect.

Hugh-Alabama of AL 4:51PM September 17, 2008

First off, drilling offshore should be up to the states involved without the feds mandating what we want or don't want. Here in Florida the profits received through offshore drilling would not offset the loss in tourist revenue if a major spill were to occur. We don't want someone in Peedunk Alabama to tell us to drill here drill now. Offshore drilling is a last ditch effort by the oil companies to get while the getting's good. They see the writing on the wall. Their stranglehold on America should be broken over the next 5 years.
The bill extends the credits for solar and wind, which are very much needed. It expands the ability to drill for shale oil and lowers the restrictions for drilling. It ends the tax subsidies for big oil. Why is it bad according to republicans to give handouts to working class Americans or small businesses but it's ok to give subsidies to oil companies and bail out investment companies?
The bill also works towards improving public transportation and improving energy efficiency in new buildings.
Is this bill perfect? No. But it is a step in the right direction.
The Republicans are trying to make this a political issue then wonder why their approval rating is so low. (except for the folks that buy the propaganda)

Bill_S of FL 4:50PM September 17, 2008

The current administration and Yes, John McCain have vetoed/Voted against every alternative energy bill so far. These guys just really love oil.

Tom of ME 4:47PM September 17, 2008

Drilling is a wast of time, there is not enough oil to decrease our prices. Also, it will take too long. I hope we are already energy independent by then. I do like the bill however due to the alternative energy incentives. Alt energy is the only way to really gain energy independence.

Jeff of MA 4:42PM September 17, 2008

Wake-Up America!
FOR EIGHT YEARS....The Democratic controlled House and Senate has prevented drilling for oil. (NOT PRESIDENT BUSH)
Now to convince the dumb sheep (Voters), that THEY ARE GOING TO SOLVE THE ENERGY CRISES (that they caused).... They have voted to ALLOW, get that, ALLOW the (big) oil companies to drill 'Offshore'..... Yep, they have now SOLVED our 'Energy' problem...Now BIG OIL CAN DRILL FOR OIL..... 50 MILES Offshore...In certain places.
Wake-Up America.... ALL OF THE OIL IN THE USA IS IN ALASKA!!!!
The rest of the oil is just-offshore. (Within 50 Miles).
The Democrats (Liberals and Environmentalists) KNOW THIS: 'BIG' OIL WILL NOT GO 50 MILES INTO THE OCEAN TO DRILL!!! AND IF THEY DID THE COST TO US WOULD BE MORE EXPENSIVE THAN FOREIGN OIL.
So..What did the Democrats vote for? DECEPTION!!!! DECEIVE THE VOTERS... TO VOTE FOR for them for ANOTHER FOUR YEARS OF DEMOCRATIC ECONOMIC DEVASTATION OF OUR NATION.
Wake Up America....Obama is the Pied-Piper of this deceit!

zephyr of CA 4:33PM September 17, 2008

The White House thinks that if ExxonMobil wasn't allowed to write the bill it is no good.

Sad Consumer Citizen of VA 4:29PM September 17, 2008

I am not sure that drilling is the best way to solve our energy problems.
First if we do drill, it will be 5 years before we see any oil.
Second, we will not see any reduction in gas prices because of opening new areas to drill. The oil companies are in this to make money and new resources will not drop the prices to the old days.
Third, the countries that back a clean energy policy and renewable energy projects will be the ones that will have the upper hand. They will create new jobs, have increased security and ultimately be wealthier because their resources are renewable.
For Florida damage to our beaches will not give Floridians a just reward to offset the potential damage to our shorelines.
Lets look at a long term plan instead of one that is a response to a reaction to higher gas prices

Cheryl of FL 4:24PM September 17, 2008