October 1, 2008
Drilling ban dies
The President signed into law yesterday a continuing resolution that lacked any language to continue a 26-year long Congressional ban on offshore energy development.
The National Ocean Industries (NOIA) said it was "pleased that these rigid prohibitions have now been removed."
"Now, as a nation, we are free to engage in an actual policy debate over where it is and is not appropriate to explore for and produce oil and natural gas from our offshore reservoirs," said NOIA President Tom Fry. "There is already an extensive public process to solicit input from companies, individuals, state leaders and environmental organizations. This debate will now be that much more robust since 85% of the lower 48's OCS is no longer simply closed off from consideration."