Is That a Yes to Offshore Drilling ?
Posted by Srikant Rajan | # |
05:21:26 pm on October 1, 2008

Historically , congress has enacted bans in in offshore drilling along pacific and atlantic coasts due to environmental concerns and impact on tourism industry.Now the US senate has voted to open waters off the atlantic and pacific coasts to oil and gas drilling.The purpose of this legislation is however not clear as it allows for drilling in areas 50 miles away from sea, into areas that contain just 5 % of the estimated reserves.Even this drilling is subject to coastal states agreement which may not be very forthcoming as this legislation does not give them any share from royalty earned by energy production.

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Comments  

Kevin@Great Wall of China Facts
October 11, 2008

Do you think that offshore drilling should occur? I would like to hear your opinion!

 

Srikant Rajan
October 12, 2008

Hi Kevin,
Offshore drilling is essential in the short run to enable an easy transition into other renewable generating sources.That said , we must not rely on oil for out long term energy needs.
 

 

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