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Coastal Oil Drilling Becomes US Campaign Issue
 President Bush and Republican presidential candidate John McCain are both calling for an end to a moratorium on developing oil and natural gas resources along much of the U.S. coastline. Democratic presidential candidate Barack Obama opposes such a move, saying the country needs to move away from oil. Meanwhile, public-opinion polls show U.S. consumers favoring more development of domestic resources to offset high fuel prices. Energy has become one of the main issues clearly dividing the two U.S. political parties as they prepare for their national conventions. With oil trading on the world market at above $130 a barrel, U.S. consumers are feeling the economic impact at the gasoline pump and in increased food prices. During a speech Tuesday in Houston, Senator John McCain called for an end to a moratorium on energy development in coastal areas. 'The broad federal moratorium stands in the way of energy exploration and production,' he said. The ban, which has been in effect since 1981, covers more than 80 percent of the U.S. coastline and the outer continental shelf. The ban was put in place to reduce the chances of environmental damage from oil spills and in part to protect the tourist industry. Senator McCain once opposed development in coastal areas, but he says the rapidly rising cost of fuel makes it necessary. 'As a matter of fairness to the American people and a matter of duty for our government, we must deal with the here and now and assure affordable fuel for America by increasing domestic production,' he added. Posted by: Fred 2008-06-19 |
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