OCS Moratorium Expires

Wednesday, October 14, 2009

The ban on offshore drilling quietly expired on September 30th. However, the battle is far from over as OCS leasing opponents are expected to continue their efforts.

According to Sen. Robert Menendez (D-NJ), "Expanded OCS drilling is bad energy policy, bad environmental policy, and it will do nothing to lower the prices at the pump, now or ever. This country deserves a serious debate about energy and not just election year posturing."

Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-NM) said: "We'll revisit this issue next spring."

The issue will no doubt be the subject of an energy discussion that will include initiatives for renewable fuels, tax increases for oil and gas producers, and assistance for low income families.

The bill will also include plenty of "pork." The measure, like all Washington initiatives, will require spending more money and result in little if any actual energy production.

[Source: "There's little celebration as OCS leasing moratoriums expire," Nick Snow in Capital Commentary, Oil & Gas Journal]

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