President Bush lifts ban on off-shore drilling, says Congress must act to give Americans access to vast oil resources off of US coasts

Bush Lifts Ban On Offshore Drilling

Bloomberg
July 14, 2008

President George W. Bush said today he’s lifting a presidential ban on drilling for oil and natural gas on the U.S. Outer Continental Shelf, setting up a showdown with Congress over a separate ban it put in place in the 1980s.

“Today I’ve taken every step within my power to allow offshore exploration of the OCS,’’ Bush said in a statement at the White House. “This means the only thing standing between the American people and these vast oil resources is action by the U.S. Congress.’’

Democratic leaders in both houses of Congress rejected the president’s call, saying the move to end the moratorium would have no effect on prices and better options are available.

A BBC investigation on U.S. war profiteering estimates that $23 billion of taxpayer funds has been “lost, stolen, or not properly accounted for in Iraq.”

A BBC investigation on U.S. war profiteering estimates that $23 billion of taxpayer funds has been “lost, stolen, or not properly accounted for in Iraq.” The figure, which uses U.S. and Iraqi government sources, is meeting resistance from the Bush administration, which pushed through a gag order in dozens of court cases involving the alleged mismanagement of funds by private contractors.


The BBC:

The BBC’s Panorama programme has used US and Iraqi government sources to research how much some private contractors have profited from the conflict and rebuilding.

A US gagging order is preventing discussion of the allegations.

The order applies to 70 court cases against some of the top US companies.

To date, no major US contractor faces trial for fraud or mismanagement in Iraq. Read the rest of this article here.

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