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06/23/2008
General Interest — Quick TakesBush urges Congress to lift bans on OCS leasingUS President George W. Bush urged Congress to lift oil and gas leasing bans on the Outer Continental Shelf as the first of four steps to increase domestic supplies in response to soaring prices.“Experts believe that the OCS could produce about 18 billion bbl of oil. That would be enough to match America’s current oil production for almost 10 years. The problem is that Congress has restricted access to key parts of the OCS since the early 1980s,” Bush said on June 18.“Since then, advances in technology have made it possible to conduct oil exploration in the OCS that is out of sight, pr...
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