McCain: End Offshore Drilling Ban

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DAVID ESPO | June 16, 2008 09:17 PM EST | AP

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Republican presidential candidate Sen. John McCain, R-Ariz., answers reporters' questions during a press briefing at his campaign headquarters in Arlington, Va., Monday, June 16, 2008. (AP Photo/LM Otero)

ARLINGTON, Va. — Sen. John McCain said Monday the federal moratorium on offshore oil and gas drilling should be lifted, and individual states given the right to pursue energy exploration in waters near their coasts.

With gasoline prices rising and the United States chronically dependent on foreign oil, the Republican presidential contender said his proposal would "be very helpful in the short term resolving our energy crisis."

McCain also suggested giving the states incentives, including a greater share of royalties paid by companies that drill for oil, as an incentive to permit exploration.

Asked how far offshore states should be given control of drilling rights, he said that was a matter for negotiation.

He offered no other details for his proposal, which he is expected to describe more fully on Tuesday in an energy speech.

McCain's presidential rival, Sen. Barack Obama, opposes an end to the moratorium, a spokesman said. Hari Sevugan said McCain's "plan to simply drill our way out of our energy crisis is the same misguided approach backed by President Bush that has failed our families for too long and only serves to benefit the big oil companies."

The current drilling moratorium is a perennial cause for controversy, pitting those who favor additional exploration against environmentalists.

The current ban covers an estimated 80 percent of U.S. coastal waters. Given Democratic opposition in Congress to ending it, the Bush administration and congressional Republicans have been seeking the type of state option McCain endorsed.

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The GOP presidential candidate said a recent run-up in the price of oil was having an adverse effect on consumers.

"We've seen the impact of it in the form of food prices, in the form of gasoline, in the form of threats of inflation and indeed indications of inflation, and we must embark on a national mission to eliminate our dependence on foreign oil," he told reporters.

McCain has sought to carve out something of a middle road on energy issues, parting company with many Republicans by calling for measures to reduce greenhouse gases and opposing drilling in the Arctic National Wildlife Refuge in Alaska, for example.

Later, at a fundraising event in Dallas, McCain told a questioner in his audience that he remains opposed to drilling in the wildlife refuge, a pristine wilderness area that has been the subject of pitched battles in Congress in recent years.

The Senate last month rejected a GOP energy plan, 56-42, that included a provision similar to McCain's proposal. It would have allowed a state's governor to petition to have the federal moratorium lifted for waters off its coast. Republican senators argued there are some 14 billion barrels of recoverable oil available in waters now off limits. Also, the House twice has approved giving states the right to opt out of the federal ban, both when the GOP held the majority, but the proposal has never made it through the Senate.

McCain made his remarks before leaving the Washington area for a pair of fundraisers in Dallas.

Another fundraising event, originally set for the home of Clayton Williams in Midland, Texas, was pulled from the schedule after news organizations pressed McCain's campaign about holding an event with the 1990 Texas GOP gubernatorial candidate who once joked that women should give in while being raped.

McCain sought to minimize the fallout, telling reporters his aides had not known of the earlier comment when they scheduled the event

"We'll do it someplace else and I understand he's not attending. That's pretty much the sum of it all," he said.

He said he would hold another fundraising in the Midland area later this summer and Williams would not attend. Democrats have called on McCain to return more than $300,000 that Williams had raised for McCain from other individuals.

ARLINGTON, Va. — Sen. John McCain said Monday the federal moratorium on offshore oil and gas drilling should be lifted, and individual states given the right to pursue energy exploration in wate...
ARLINGTON, Va. — Sen. John McCain said Monday the federal moratorium on offshore oil and gas drilling should be lifted, and individual states given the right to pursue energy exploration in wate...
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- Raymondf I'm a Fan of Raymondf 4 fans permalink

Drill, drill, drill, drill, everywhere there is an open place. Damn the torpedos.

    Favorite    Flag as abusive Posted 02:49 PM on 06/21/2008
- sculptor I'm a Fan of sculptor 8 fans permalink

How about a Mccain ban instead? ;-) ;-) ;-)

    Favorite    Flag as abusive Posted 01:24 AM on 06/19/2008
- raker I'm a Fan of raker 96 fans permalink

The windfall profits are bigbigbig, but this is one of the big payoffs in Cheney's "energy plan." Once the suckers get desperate from $5 diesel, $5 heating oil and $5 gasoline, they'll let the oil companies drill wherever the hell they want. Now, with only six months left, they're grabbing all they can.

    Favorite    Flag as abusive Posted 09:11 PM on 06/17/2008
- DonDavis I'm a Fan of DonDavis 2 fans permalink

McCain Proposes Drilling in Anwar Sadat
http://satiricalpolitical.com/?p=1931

    Favorite    Flag as abusive Posted 08:58 PM on 06/17/2008

It is true that Governor Crist (FL) has decided to look into the pros and cons of drilling off the FL coast. If I am to understand the graphics and story correctly, there is currently 80% of the USA coastline currently under protection. So why Florida? A state extremely dependent on tourism dollars. Oh, I know!! Silly me! A long history of being "represented" by rather ambitious, and utlimately usually inept politicians. Jeb Bush and the Bush Cartel knew exactly what they were doing when they blew into town. Same with Texas and GWB. Easy targets. Make everything bite-size and yummy, and then slash and burn. Even I got fooled by Crist. I am deeply disappointed.

    Favorite    Flag as abusive Posted 07:29 PM on 06/17/2008

I can't say that any of those people fooled me. Once they put that big REPUBLICAN sticker across their foreheads, I prettyy much knew that they were inept.

It will only get trickier in the future as they label themselves "Independents" or "Conservative Democrats" Or "Libertarians".

I have my own litmus test. I try to guess how they would answer the following question:

1. Would you favor a tax increase on anyone making more than $200,000?

    Favorite    Flag as abusive Posted 08:00 PM on 06/17/2008

I didn't vote for Crist. I just thought he was Republican lite. Jeb was more transparent. I truly am horrified by this turn of events and I have no doubt there could be Bush Cartel figures at play in this scenario. Of course Floridians will be painted as the most abusive energy users. Not by choice however. There is no sensible network available to most who would use Light Rail Transit. Jeb got a referendum blocked by an unheard of public revote on the issue. Classic Florida.

    Favorite    Flag as abusive Posted 08:34 PM on 06/17/2008
- Ping I'm a Fan of Ping 63 fans permalink

This comment is pending approval and won't be displayed until it is approved.

If the Republicans were serious, they would be talking about releasing the SPR like Clinton did. By flooding the market, we can artificially lower the price and end the speculation. It will totally f*ck the oil companies and the Saudis.

    Favorite    Flag as abusive Posted 07:27 PM on 06/17/2008

It might be a good idea in the short run. I would say let's wait out the summer, and then release the reserves right before the winter. Some people are going to have to shell out more than $1,000 to fill their home heating tanks. I agree with you. They should release the reserves and start reducing the number of troops in Iraq. That would decrease the price of oil.

    Favorite    Flag as abusive Posted 08:11 PM on 06/17/2008
- skibum49 I'm a Fan of skibum49 5 fans permalink

I will agree with you about opening the spigots on the SPR. Not because I believe it offers any long term solution. I want to do for no other reason that to F**K the thousand dollar suits down at the Oil Commodity exchange who are seemingly quite willing to betray their countrymen for money.

    Favorite    Flag as abusive Posted 08:35 PM on 06/17/2008
- vippy I'm a Fan of vippy 77 fans permalink

You people just don't get it. It is congress who passed the Commodities Future's Modernization Act which is directly responsible for the energy, housing and banking collapse. We have excess
oil inventories, they are hiding their excess oil in tankers off=shore in order to bypass inventory
requirements. The USA has closed 2 refineries in the last 2 years. Yet the press is talking about'
drillilng for more oil and people are still falling for it. Wake up - high time. Google Prof.
Michael Greenberger who briefed congress on 14 Dec 07 and congress did not do a thing.
Let us revert to the old way of trading oil and it will be down to $ 50 a barrel. Do not blame the
oil companies, they are only doing what congress allows them.

    Favorite    Flag as abusive Posted 08:55 AM on 06/18/2008
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Drill were so your can kill teh earth y we dont let you drill in your back yard how does thatt sound huh

    Favorite    Flag as abusive Posted 07:06 PM on 06/17/2008

I listened to Sean Hannity spout off at the mouth today. "It's the liberals fault that the price of gas is so high," he said.

He never once mentioned that the war in Iraq is driving the price of oil higher, and it has been since the day it started.

For years these guys have been saying that President Carter was the worst president in history because fuel prices soared and so did inflation.

This is far from the truth. The truth is that the gas crisis started in the early 70s when Nixon devalued the dollar as a result of the Viet Nam War. As a result, inflation began to soar. Then, after Carter took the helm, the Irainian hostage crisis rocked the market.

Now, we have a president who has watched oil prices nearly triple since the start of his presidency. He has quietly pushed to devalue the dollar and continues to borrow money to fund the war.

Sean Hannity, you are watching history. George Bush will be remembered as the worst president ever. Forget about John McCain. Forget about a third Bush term. It will never happen.

What we are witnessing is an explanation of what weakens our economy and our security: start ill-advised wars, spend us into oblivion, borrow to pay for said war, devalue the dollar, and viola, the economy is in the tank.

    Favorite    Flag as abusive Posted 06:31 PM on 06/17/2008
- UnbiasView I'm a Fan of UnbiasView 20 fans permalink

GWB is the worst President but Carter is in 2nd place so I don't see the argument . . . they both sucked.

    Favorite    Flag as abusive Posted 07:17 PM on 06/17/2008

You failed to see the progession. Carter wasn't responsible for the Viet Nam War. Carter wasn't responsible for the devaluation of the dollar. Carter responsibilty in the oil fiasco was merely that he meddled in the affairs of the Iranians by supporting the Shah.

Bush on the other hand is responsible for the Iraq War. Bush is responsible for borrowing money. Bush is responsible for devaluing the dollar. Bush is responsible for emboldening Iran.

It's clear that John McCain would follow in Bush's footsteps. He is for prolonging the war. Let's forget about the fact that many of us would probably be dead before a single drop of new oil was pumped off our shores even if Congress passed legislation today. It could never pass, but let's say it did. It would not make an immediate impact. Regardless, if we continue to be a party to turmoil in the middle east, the price of oil will continue to rise.

If we don't learn why these two presidents failed, we will continue to follow the same course. For the record, in my honest opinion, Carter has been the second best president in my lifetime. He has helped to restore the image of America in the global community. Because of his service, many nations have been obliged to accept us as the world's sole super power and to promote us because they trusted us. No one trusted us after Nixon. No one will trust us after Bush. That's the difference.

    Favorite    Flag as abusive Posted 07:42 PM on 06/17/2008
- nirek I'm a Fan of nirek 109 fans permalink
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Hey , cpt sunshine, you make sence . go Obama!

    Favorite    Flag as abusive Posted 08:10 PM on 06/17/2008

It's about time! Now if we can just get him to open up ANWR we'll be on our way towards a sensible energy policy.

    Favorite    Flag as abusive Posted 06:21 PM on 06/17/2008
- jwws007 I'm a Fan of jwws007 9 fans permalink

the offshore reserves are estimated at 2 trillion, not 20 billion. they should start drilling right away

    Favorite    Flag as abusive Posted 06:18 PM on 06/17/2008
- Ping I'm a Fan of Ping 63 fans permalink

This comment is pending approval and won't be displayed until it is approved.

Without the proper refineries the crude is worthless, also there are varieties of crude. We want the light sweet crude. But this more oil industry bullshit. Drilling for more oil only increases profits for the oil companies and does nothing for the consumers or our addiction to oil. If we started drilling today will gas be $2 per gallon by November?

    Favorite    Flag as abusive Posted 07:22 PM on 06/17/2008
- skibum49 I'm a Fan of skibum49 5 fans permalink

Generally its nice to offer some source when you spout out figures (especially when the figures are as absurd as that one).
Including the assessment numbers for the United States from USGS and the Minerals Management Service (MMS), the world’s endowment of recoverable oil — which consists of cumulative production, remaining reserves, reserve growth and undiscovered resources — is estimated at about 3 trillion barrels of oil.
http://www.agiweb.org/geotimes/nov02/feature_oil.html

So its unlikely that there are 2 Trillion just sitting off the coast of the United States.

Estimates based on USGS and MMS analysis put the TOTAL technically recoverable oil available in US territory or waters at 153.5 billion barrels of which about 48 billion barrels may be located offshore.
http://www.eia.doe.gov/oiaf/presentation/usgs/usgs.html

The problem of course is that "Technically Recoverable" is not the same as economically recoverable and most of the figures that I have read suggest that were we to start offshore exploration today or open ANWR in Alaska today it would be 6 to 10 years before these new resources were operating at peak capacity. In addition there is no guarantee that yields from these sources would be exclusively available to the United States. On the contrary its likely that they would be sold to the highest bid internationally at whatever was the current world old price..

    Favorite    Flag as abusive Posted 07:29 PM on 06/17/2008
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Approx daily world oil consumption=85 million bbl/day
Total estimated offshore reserves in banned areas= 20 billion bbls
Total days of world consumption= 247 day.

Short answer=offshore drilling is not a long term answer, or even much of a short term one.
Shorter answer= WE ARE RUNNING OUT OF FREEKING OIL!!!!

    Favorite    Flag as abusive Posted 05:39 PM on 06/17/2008
- research I'm a Fan of research 298 fans permalink

I put out similar facts. 10-80 years range of oil left.
1 T$ replaces nukes,coal,imported oil with wind and rooftop solar.
http://www.huffingtonpost.com/users/profile/research

    Favorite    Flag as abusive Posted 05:58 PM on 06/17/2008
- 2warvet I'm a Fan of 2warvet 14 fans permalink
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All of you should read the USGS website about recoverable oil in the United States. You would be amazed how much you don't know about what is under our ground. It is enough to get us off and keep us off of foreign oil until something better can be developed.

WHY should the "Big Oil" be forced to find alternative energy? That is not their business. They drill for and refine oil. Same goes for the auto industry. The governmnet should not force them to do anything. Law of supply and demand will take care of the car manufactures. If they want to sell cars, they will produce a car the people want. That is how free market economy works. Give the people what they want and make money.......If you don't you lose money and your business.

I find it very disturbing that people of the United States would be so willing to follow a marxist / socialist idea of the government telling different industries what to produce and how much of it to produce......

http://energy.usgs.gov/oilgas.html

    Favorite    Flag as abusive Posted 04:53 PM on 06/17/2008
- leduck I'm a Fan of leduck 47 fans permalink
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the titanic is sinking so the nuts come of of the woodwork telling people..., all we need to do is cover the hole with plates

    Favorite    Flag as abusive Posted 05:12 PM on 06/17/2008

Here is the problem with Barack's (and the rest of the liberals) approach to energy policy: The government cannot will the energy market to one type or energy over another ultimately. This was tried in the 70's and it failed. It is very arrogant to think that a relatively few folks in Washington have more wisdom than millions of consumers and thousands of companies that drive market decisions about which source of energy to use.

I know you blame the resulting decrease in the price of oil for thwarting a move away from fossil fuels back then......but then that is exactly my point about the futility of central planning on something like this.

As we speak, millions of people are adjusting their behaviors in response to the high gas and energy prices.

No matter what the government tries to do the ultimate arbitor will be the market because whatever the govenrment does simply gets folded into the overall decisions of the marketplace anyway. As you saw for example, when the government banned offshore drilling, the market simple imported more. Wherever the government puts its finger in the dike the market will simply react accordingly. The government made an incorrect assumption that oil prices would stay high and so invested billions of our tax money into technologies that proved not to be financially viable. Ironically they also put the kabash on very viable sources such as nuclear. The government has a very poor track record in directing markets.

    Favorite    Flag as abusive Posted 04:35 PM on 06/17/2008

The fact that we restrict ourselves from going after this resource while the rest of the world is balls deep in offshore drilling is just insane.

    Favorite    Flag as abusive Posted 04:14 PM on 06/17/2008

Envirowackos not only put us into the mess we are in, by their actions, they have raised the wealth of the Saudis as well as Robert Kenedy Jr's darling Hugo Chavez

Drill here, drill now, or buck up, pay up and shut up.

    Favorite    Flag as abusive Posted 03:49 PM on 06/17/2008
- leduck I'm a Fan of leduck 47 fans permalink
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envirnomental wackos were trying to do your kids a favor


oh but hey..., why not party hardy now until we drown

    Favorite    Flag as abusive Posted 05:15 PM on 06/17/2008
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