Wednesday, September 17, 2008
Off shore drilling passes U.S. House
The U.S. House of Representatives passed a compromise bill Tuesday that lifts the Federal off shore drilling ban. The next step is for a similar bill in the works to pass in the Senate, and after that a conference committee must iron out the differences and then it goes to the White House for a signature.
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The ban would have expired later this month anyway. This puts a ban on drilling from 100 miles in unless the states agree then drilling can occur from 100 to 50 miles in. However, this bill also eliminates the royalties that have been paid to the states. This bill keeps 90% of our oil off limits. This bill does is just another ban.
http://news.bbc.co.uk/2/hi/business/7620282.stm
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