Monday, July 14, 2008

Bush Lifts Drilling Moratorium, Prodding Congress

From the New York Times:
President Bush lifted a presidential moratorium on drilling for oil and natural gas on the Outer Continental Shelf on Monday, hoping to prod Congress to act to clear the way for exploration along the country’s coastline in response to soaring energy prices....

...By itself, the move will have little impact, because Congress enacted a moratorium in 1982 that remains in place. But the step underscores the rising political pressure to address high oil and gasoline prices in the middle of an election year....MORE