What Happens If Congress Lifts Drilling Ban?

If Congress bows to pressure from Republicans (check out the drama cons dog and pony side show... http://www.mcclatchydc.com/homepage/story/48491.html ) and decides to lift its restrictions on offshore oil drilling, it is unclear exactly what would happen next. Such a move would take the country into uncharted waters, and there is no guarantee that a substantial amount of new drilling would take place at all.

The frequent "drill here, drill now" refrain of Sen. John McCain and his fellow proponents of offshore drilling that has become part of this year's presidential debate suggests that removing the congressional moratorium would throw open the nation's waters to a spree of new drilling--and, eventually, new oil.

But there are major obstacles that are rarely addressed. New drilling, if it does happen, won't take place willy-nilly. The most likely scenario, if Congress were to relax restrictions on drilling in federal waters, is that individual states would get the authority to approve or reject new drilling.

Yet even that issue is, technically, undecided. "There's no historical precedent here for this sort of action," says Eileen Angelico of the Minerals Management Service, the Interior Department office that handles offshore drilling in federal waters. "It all depends on what Congress decides to do."

read more at http://news.yahoo.com/s/usnews/20080815/ts_usnews/whathappensifcongressliftsdrillingban

And check out this; CNN's convention coverage sponsored by Big Oil Giant Exxon Mobile
http://thinkprogress.org/2008/08/14/cnn-conventions-exxon/

:woohoo: :hi:

Not much. If the oil companies were so hot to trot with offshore oil drilling they would have pushed for it when the GOP controlled everything. They already have millions of acres of oil leases they haven't touched. Probably because it would cut into their profits to do so.

This is just an election year issue that the oil companies are now pushing to get people to vote Republican. They want to keep their tax breaks.

find out that there really isn't much oil left.

protected.. Another privatization of public interests.. Would the companies actually drill, probably not. They haven't drilled on the leases they already have. It is not in the oil companies best interest to drill; they won't make money. The real question should be, why doesn't congress allow the USA to drill these regions? If it gives us independence, why doesn't the USA decide to stick its own rigs out there and drill and sell the oil for profits to offset the enormous debts we have had? When you hear someone drill, drill, drill.. turn it around like this. The oil companies want a low supply and a high demand.. that's how they make money.

Halliburton? Exxon - Mobile ? With no -bid contracts to boot!
We would be in worse shape than we're in now.

own the rights and a peice of the pie.. and those countries are normally quite wealthy.

and fail to drill on it.

on until the "price is right".

a permanent rig.

all the land rigs are drilling and capping as hard and fast as they can. my nephew used to work 2 weeks on 2 weeks off, now he works 2 weeks on 4 days off. they travel all over the country drilling.. so they cant get anywhere and back in 4 days, so they just work 12/7 365. all they do is drill and cap, i have uncles who have drilled and capped for 20 30 years, never pumped a drop of oil. never out of work more than 2 days at a time

I think the rigs are ALREADY in place offshore just waiting for the ban to be lifted.

does that mean they find no oil there?