Published: 07-15-08
WASHINGTON D.C. – Today President Bush in an effort to combat ever-rising gas prices lifted an executive ban on offshore drilling that has been in place since 1990. Following the announcement Congressman Conaway (TX-11) made the following remarks:
“I applaud the leadership of President Bush in his decision to lift the ban on drilling in the Outer Continental Shelf (OCS). It is my hope that the actions of the President will spur Democrats in Congress to join Republicans in supporting lifting the moratorium that is currently in place. The President’s move will do nothing unless Congress follows suit and listens to the American people by removing the obstacle of its own moratoria on OCS drilling.”
President George H.W. Bush in 1990 issued a presidential directive ordering the Department of the Interior (DOI) not to conduct offshore leasing or preleasing activity in areas covered by the annual legislative moratoria until 2000. In 1998 President Clinton extended the offshore leasing prohibition until 2012. Congress has imposed moratoria on much of the OCS since 1982 through the annual Interior appropriation bills.
“Deep water exploration can be conducted in a safe manner that does not damage the environment and provides additional production of crude oil. Having grown up in the Permian Basin and working as a roughneck I know we can increase our production of American-made energy in a way that does not damage the environment. The current market price of oil is partly based on the belief that we will not drill in the Outer Continental Shelf and in the ANWR. Lifting these moratoriums is the best way to send the market a clear signal that America is serious about increasing production of our own energy resources and reducing our dependence on foreign oil. Speaker Pelosi’s ‘hoax’ comments again shows a lack of understanding of the free-market.”
According to the Congressional Research Service the Department of the Interior (DOI) released a comprehensive inventory of OCS resources in February 2006 that estimated reserves of 8.5 billion barrels of oil and 29.3 trillion cubic feet of natural gas. Another 86 billion barrels of oil and 420 tcf of natural gas are classified as undiscovered resources.
Last week in her weekly press conference Speaker Pelosi stated that “This call for drilling in areas that are protected is a hoax it’s an absolute hoax on the part of the Republicans and this administration.”
