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Home Front: Economy
Senate Backs Offshore Energy Inventory
2005-06-22
WASHINGTON -- The Senate voted Tuesday to inventory all offshore oil and gas resources _ a step environmentalists saw as a threat to bans on drilling _ and debated a challenge to President Bush's climate-change policies.

Many senators from coastal states criticized the offshore energy inventory as a prelude to gas drilling in waters that have been off limits to energy development for nearly a quarter-century. Supporters of the measure called it necessary to know what resources the country has available if they are needed. An attempt by Sen. Mel Martinez, R-Fla., and several other coastal senators to strip the inventory requirement from a broad energy bill was turned back 52-44.

Later the Senate turned its attention to climate change, one of the most contentious issues facing senators as they move toward approving sweeping energy legislation by the end of the week. The House passed its version of a national energy policy in April.

Most Republicans rallied around a climate proposal offered by Sen. Chuck Hagel, R-Neb., which would avoid mandatory greenhouse emission cuts. It would focus instead on providing government incentives to develop and make available new technologies _ both domestically and for export to developing countries _ that would reduce carbon emissions.

A more ambitious proposal, strongly opposed by the White House, was expected to be offered by Sens. John McCain, R-Ariz., and Joe Lieberman, D-Conn., that would require greenhouse emissions to be cut back to where they were in 2000 within five years. It also would allow for an emissions credit trading system aimed at holding down the costs to industry. The two senators have argued that mandatory emission caps are needed to make progress on dealing with the potential of climate change.

The administration has opposed regulating carbon or other greenhouse gases, arguing that voluntary actions by industry already is reducing the growth of greenhouse emissions and to go further would harm the economy and raise energy prices. "The McCain-Lieberman amendment will put coal out of business," said Sen. George Voinovich, R-Ohio, as he expressed his support for the Hagel proposal.

Hagel described his measure as "a market-driven, technology-based approach" to dealing with climate change without imposing mandatory emission-reduction requirements on industry. Yet it will dampen the growth of greenhouse gases both in the United States and in developing countries, he said.

It would establish a system of loan guarantees and provide other incentives to spur private companies to develop technologies that would capture carbon or promote development of cleaner coal and other fuels. Hagel acknowledged that the energy bill already contains incentives for such programs, but he said his proposal would focus more closely on emissions specifically affecting climate.

Environmentalists have dismissed Hagel's approach, arguing that it would do little to move climate policy beyond what the Bush administration already is doing: relying on voluntary industry measures and focusing not on actual reduction of greenhouse emissions, only on slowing their growth.

The inventory of oil and gas resources beneath the nation's Outer Continental Shelf was strongly criticized by some coastal senators who argued it would lead to drilling in areas that have been off limits to energy development since the 1980s. "It's the first step to drilling. It's the proverbial camel's nose under the tent," declared Sen. Bill Nelson, D-Fla., who said the Interior Department already is conducting an inventory of offshore energy resources every five years.

Proponents of the drilling inventory argued that the country needs to know more specifically what offshore oil and gas resources might be available in future years. "This gives Americans full information of what is there," said Sen. Mary Landrieu, D-La. "This is not a drilling amendment."

Oil and gas development has been banned for more than two decades in almost all of the country's coastal acreage outside the western Gulf of Mexico. Congress enacted the first moratorium in 1981 and later expanded its reach and reaffirmed it every year. A succession of presidents have continued the moratorium since 1990. The latest extension, issued by President Bush, expires in 2012.
Posted by:Steve White

#7  Ymmmy! Drum brakes all around!
Posted by: Shipman   2005-06-22 16:48  

#6  My first car was a 66 Delta 88. It rocked but needed premimum at a grade now called racing fuel!
It was a great car. He should have got jail time just for drowning the car let alone the girl.

400hp 425 SuperRocket with 13-1 (I think) compression ratio. (yeah it would sometimes continue on after shut off. Changing the sparkplug under the airconditioner really sucked too and was a great way to slice open your hand.)
It, also, taught me the danger of speed... I flew over a hill at 128MPH and saw a stop light, narrow bridge, town with lights and more. Started pumping the brakes and the fluid just boiled away.. Lucky all the lights were green. Slowly went to the side and waited for the breaks to cool before continuning the trip.
Posted by: 3dc   2005-06-22 10:47  

#5  Nah. Unlike '67 Delta 88's, amphibs usually float.
Posted by: tu3031   2005-06-22 08:50  

#4  Chappaquidic Amfib driver

<¶;¤)
Posted by: Teddy SnotenSot   2005-06-22 02:34  

#3  If Ted the Chappaquidic Amfib driver is against windmills near Martha's Vinyard, maybe he won't object to an offshore drilling platform instead as a constructive alternative.
Posted by: Alaska Paul   2005-06-22 02:14  

#2  Fastest way I can think of to reduce CO2 production is to cut interstate power lines into California and New York. Oil and gas pipelines too.
Posted by: ed   2005-06-22 01:54  

#1  So... rather than have our coasts explored and drilled for oil we should give away a significant portion of our national treasure to a bunch of Saudi oil-ticks?

Seems like a sad bargain to me.

Inventory! Explore! Exploit!

Use it now while we can... some day oil will be superceded by some other form of energy.
Posted by: Leigh   2005-06-22 01:42  

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