Offshore Oil Drilling - Bush Lift Ban

Offshore Oil Drilling: Lifting the Ban on Off Shore Drilling

Update - President Obama to Open Offshore Areas To Oil & Natural Gas Drilling - 3/31/10 March 31, 2010

President Bush to lift Outer Continental Shelf ( OCS ) Drilling Ban July 14th, 2008 1:30pm EST

President Bush urged Congress on 6/18/08 to end a federal ban on offshore oil drilling and open a portion of the Arctic National Wildlife Refuge for oil exploration, asserting that those steps and others would lower gasoline prices and “strengthen our national security.”

In recent years, the president said, “scientists have developed innovative techniques to reach Anwar’s oil with virtually no impact on the land or local wildlife,” referring to the wildlife refuge by its acronym. He continued, “I urge members of Congress to allow this remote region to bring enormous benefits to the American people.”

President Bush also urged Congress to approve the extraction of oil from shale on federal lands, something he said can be done far more economically now than a few years ago, and to speed the approval process for building new refineries. Green River Basin Oil Shale

Full Article Here - New York Times

Highlights - President Bush's Speech on Lifting Ban for Offshore Drilling

- Recent years demand for oil has grown, supply has grown much more slowly.

- Oil prices have risen sharply, that increase has been reflected at the gasoline pumps.

- Much of the oil consumed in America has come overseas, comes from unstable regions.

- This makes us vulnerable to gas & oil price shocks beyond our control which effects our economy and threatens our national security.

- We are working on alternative energy, batteries, alternative fuels

- Unless we are comfortable paying these high gas prices now, we must increase domestic oil, and we must start now

Four Steps to Expand American Gasoline & Oil Production

First Step
- Increase expansion to outer continental shelf of America or OCS

- Experts believe OCS can produce 18 billion barrels of Oil, would be enough for 10 years

- Advanced technology has come very far since 1980 when the ban was introduced

- Environment will be protected

Second Step
- Expand oil production by tapping into Oil Shale

- Green River Basin Oil Shale - Colorado, Utah, Wyoming could hold equivalent of 800 billion barrels of oil

- This day in age, companies have invested in technology the make production of Oil shale more affordable and profitable, this makes Oil Shale a highly promising resource

- Remove the ban of Oil Shale operation on federal land

Third Step
- Expand oil production by permitting exploration in artic national wildlife or Anwar

- This Alaskan Terrain could produce 10 billion barrels of oil - Equivalent of 2 decades of imported oil from Saudi Arabia

- Advanced technology has reached a way to drill oil with no impact on the land or wildlife

Fourth Step
- Expand Refining Capacity

- It's been 30 years since our nation has built a new refinery

- This will create more American jobs