smittenbyu | Bush lifts ban...

on offshore drilling. For that oil to reach the gas tanks will take another 10 years. Of course, Congress still has to pass it for it actually take any effect. If it's passed States will individually get to decide. Alaska is just eagerly waiting for this. The proponents of this claim that if the bill passes, then there's a possibility of releasing petrol from the country's reserves. But this is all an ASSUMPTION. President Bush Jr didn't make any such suggestions. Just another political move. Ironically, it was his father who put the ban.

Oil companies have so many number of land leases for oil exploration which they are not using (as shown in the article). The proponents of lifting of the ban claim that the lands set for this don't necessarily have oil. Fine. Did they return the land then? They are just sitting on it.

Anyhow, even if it does get passed, we won't really see much of a difference. And lets see then what the proponents have to say. And fine you get more petrol. Then what? You are still sitting on the problem of pollution, recession, unemployment, health care problems and the list continues. OPEC will worry that their biggest buyer will not be buying and further increase its prices or reduce its supply (this was one of their concerns when the US & UN asked them to increase production). What a solution!

Folks, it's all getting interesting for us.