The US House approved an energy bill that would allow offshore drilling as close as 50 miles from the Atlantic and Pacific coasts, with an insistence of Massachusetts members which would prohibit oil and gas drilling around Georges Bank, saving New England’s premier commercial fishing grounds from potential harm.
According to source the legislation also promotes investments in renewable energy and energy efficiency, paid for by eliminating tax exemptions for oil companies and increasing their royalty payments, and it authorizes more funding for heating assistance for low-income people.
It is told that the bill has got major votes by the Democratic for expanded ocean drilling reflects mounting political pressure from an electorate deeply concerned about the distressed economy and high gasoline prices. The bill was initially rejected by the Democratic leaders criticizing Republican proposals to end a longtime ban on offshore drilling, saying new wells would take years to produce oil and gas and thus have no immediate impact on prices.
House Speaker Nancy Pelosi told that it’s time for an oil change in America, and this bill represents that. But House minority leader John Boehner called the bill “a hoax on the American people,” saying it “won’t do a damn thing about energy” because the vast majority of known offshore oil is within 50 miles of shore and would therefore still be off-limits and because it would not promote the development of nuclear plants or coal-to-liquids technologies.
