Global Investors Community Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community Main Page Global Investors Community Global Investors Community Feedback Page Global Investors Community Global Investors Community Sitemap Page Global Investors Community
Global Investors Community
Global Investors Community Main Homepage  |  Bookmark Us!
 
Search investors site:  
 
Global Investors Community
Global Investors Community Navigation Global Investors Community
 
Global Investors Community
Global Investors Community World Exchanges Global Investors Community Forex
Global Investors Community Futures Global Investors Community Market News
Global Investors Community Community Forum Global Investors Community Investing Books
Global Investors Community Personal Finance Global Investors Community Retirement Planning
Global Investors Community Strategy Central Global Investors Community Help
Global Investors Community Link Exchange Global Investors Community Contact Us
 
Global Investors Community
  Login: Password:  
    Registration   Forgot your password?    
Global Investors Community
Global Investors Community Global Investors Community
HELLO VISITOR!
Welcome to MoneyHowTo.com - Global Investors Community website. Our mission is to provide you guys as much information as possible about worlds markets and growing economies with high return on investment possibilities.READ MORE.. or check out our SITEMAP
Global Investors Community
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Poll

Perfect
Good
Not bad
Worse than it was
Not good
Terrible

Global Investors Community
Global Investors Community Global Investors Community » Automakers grab loans, look to Obama White House
» Canada offers $3.29 billion auto bailout
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community
«    September 2008    »
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
 
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community December 2008 (2)
November 2008 (8)
October 2008 (32)
September 2008 (38)
August 2008 (40)
July 2008 (43)
June 2008 (46)
May 2008 (50)
April 2008 (54)
March 2008 (52)
February 2008 (59)
January 2008 (88)
December 2007 (52)
November 2007 (71)
October 2007 (62)
September 2007 (45)
August 2007 (101)
July 2007 (119)
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community Currently Online:
Members: 1
Bullmastiff72

Robots: 0
None.

Guests: 1
Total: 2

Last 24 Hours:
Users: 20
bcde589biuyr4249
crazyawpergdz
ghij560ghij764
hongri898klmn144
lyjg0106lyjg0107
lyjgj004modikis
opqr205opqr632
pqrs966rstu856
spikegomezstuv862
vipok1980315wowgoldgate


MoneyHowTo.com Global Investors Community
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community
Top Contributors:
  1    gdz 924
  2    THETMZ 37
  3    JamesdeWet 1


Articles:
  This Hour: 0
  Today: 0
  This Month: 2
  All Time: 962


Membership:
  Registered Today :7
  This Hour:0
  This Month:71
  Total:4785
  Banned:0
Global Investors Community
Global Investors Community
Global Investors Community Global Investors Community » Professional bodybuilding
» Investing Directory
Global Investors Community


Global Investors Community
MoneyHowTo.com Global Investors Community. Making Money Instructions » Futures and Commodities » House votes to end offshore drilling ban

HOT INVESTORS DISCUSSIONS

Forum
Post titleViewsReplies
CMLT - News $$$$Camelot Bullish on 2009 $$$$173
Money Funds Up in Latest Week3021
[OMX] GZE: Decisions of Annual General Meeting of shareholders of JSC “Latvijas Gāze”2432
New Report Analyzes the Energy Sector in Canada2141
Metals Prices at a Glance1931
Asset Allocation Funds Explained4271
Forexpros.com Daily Analysis - 07/01/200920
Bonds tumble after strong services growth2641
OEG: Olympic Casino Ukraine signed a preliminary contract for acquisition2131
Equity Funds Explained2511

House votes to end offshore drilling ban

Futures and Commodities
AP
House votes to end offshore drilling ban
Wednesday September 24, 6:23 pm ET
By H. Josef Hebert, Associated Press Writer
House votes to drop ban on oil and gas drilling off Atlantic, Pacific coasts, Senate up next


WASHINGTON (AP) -- The House, responding to growing public demand for more domestic energy, voted Wednesday to end a quarter-century ban on oil and natural gas drilling off the Atlantic and Pacific coasts, giving Republicans a major victory on energy policy.

An extension of the ban for another year was left off a $630 billion-plus stopgap government spending bill that President Bush had threatened to veto -- possibly shutting down the government -- if the anti-drilling measure were included.

The bill was approved 370-58 and now goes to the Senate, where it is likely to be approved within the next few days, also without the drilling ban.

The decision to avoid a fight with the White House over offshore drilling marks a major shift by Democrats on energy policy and a reflection that the GOP argument for more domestic energy production had found a support among voters this election year, even though coastal states long have worried that offshore drilling might cause spills, soil beaches and threaten their tourist businesses.

Republican presidential nominee John McCain has made expanded offshore drilling a central part of his campaign, arguing that access to an estimated 18 billion barrels of oil in the off-limits Outer Continental Shelf is essential if the country is to become more energy independent.

McCain's Democratic presidential rival, Barack Obama, also has endorsed limited expansion of offshore drilling, but only as part of a broader energy package that boosts use of alternative energy sources and increases efficiency.

Lifting the offshore ban does not itself mean drilling in the offshore waters is imminent. But it could set the stage for the Interior Department to offer leases in some Atlantic federal waters as early as 2011 under its current five-year offshore drilling plan.

House Speaker Nancy Pelosi said in a statement: "Unfortunately, the president's willingness to veto any sensible compromise on offshore drilling, which would have threatened to shut down the government and send a dangerous signal during these hard economic times and a financial crisis on Wall Street, led to the expiration of the current moratorium."

She made clear the battle over offshore drilling was far from over, saying she looked forward to addressing the issue "with new leadership in the White House."

Even before the House vote, Rep. Ed Markey, D-Mass., introduced legislation to protect Georges Bank off New England -- an area believed to have significant oil resources -- from drilling.

In the Senate, Jim Manley, a spokesman for Senate Majority Leader Harry Reid, D-Nev., said, "We look forward to working with the next president to hammer out a final resolution of this issue."

Democrats could reinstate the ban next year as part of a new spending measure. Or they could push legislation allowing limited drilling in some areas such as the southern Atlantic, with wide coastal protective buffers. But even if Democrats expand their majorities in the next Congress there's no assurance they will have the votes to reinstate the sweeping ban that has been in effect off the Pacific and Atlantic coasts since 1981.

"It is a very big step forward," declared House Republican leader John Boehner of Ohio, vowing to press the offshore drilling issue aggressively next year, including a push to give states a share in the billions of dollars in royalties that are likely to be collected once energy companies begin producing oil and natural gas in newly opened areas.

The Interior Department estimates about half the estimated 18 billion barrels of oil lies off the California coast.

Waters off the western beaches of Florida remain off limits to energy development, at least until 2022, under a law Congress passed two years ago that opened 8.3 million acres of the east-central Gulf to drilling.


Related articles:
  • Bailout heads for Senate win; House foes soften
  • Frank sees bailout agreement by Sunday
  • Bush team, Congress negotiate $700B bailout
  • Bailout deal breaks down; Bernanke back to Capitol
  • Historic bailout bill passes Congress; Bush signs
  •  
    Dear MoneyHowTo.com visitor, you are browsing this website as a guest. We recommend you to register in order to enter MoneyHowTo.com under your name and have all the privilleges that our members have. You may CLICK HERE in order to register.

    Add comments

    Global Investors Community
    Global Investors Community