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Bush Again Calls for Offshore Oil Drilling

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President Bush once again called on congress to allow oil companies to drill for oil, in the outer continental shelf. Mr. Bush called on House speaker Nancy Pelosi, to take a vote on a bill that he says will help lower gas prices. (Aug. 12)

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: AssociatedPress

Length: 01:49
Rating: 3.18
Views: 781

Tags: bush  drilling  energy  offshore  oil  

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Video Comments

Dalypics (November 30, 1999 at 12:00 am)
... But I do know that the hemp plant (Cannabis Sativa) can be used to provide shelter, food, medicine, fiber, fuel and thousands of other uses with minimal impact on our planet so I ask, can fossil fuel do the same?youtube com/watch?v=QA2wf691-Rwyoutube com/watch?v=Ne9UF-pFhJYpeace out, MjD
ckekinit (November 30, 1999 at 12:00 am)
along with everyones savings in their 401K. Just my observation. I do not trust the govt when our social security will be solvent in 2019? This just seems like another Scam. I can't believe people 1/2 a million people would sign a petition for Drill Drill Drill and 4000 would sign a petition to save our Bill of Rights? What is happening to this country?
ckekinit (November 30, 1999 at 12:00 am)
Ok then answer me this ...why did oil go to $145 then down to I think it is $105 today? not 100% positive did not see close. Manipulation? Don't say speculation that word does not jive with me ... especially when we can not see the traders. I am thinking of ICE. Run by Big Banks? Something is fishy here?? I understand where you are coming from (free market) but I feel like that has turned into DOG EAT DOG. Elite Ethics and Morals have tummbled ...
Thill029 (November 30, 1999 at 12:00 am)
As for other countries bidding on the oil, the oil will end up selling for MARKET price. So once again your assumption is incorect. Other countries wouldn't be offering any more than the oil is worth, because if the US wants to sell it for higher than it's market value, then other countries would just buy it from the Saudis. The US would have to compete with the Middle East, and that would drive the prices down for the whole world.
Thill029 (November 30, 1999 at 12:00 am)
ckekinit that is not at all how the market works. First of all, although you won't see the oil for several years, USA's offshore drilling will drive down the price of oil the SECOND they announce that they will be drilling. This is because the middle east will have to start pumping way more in order to sell off as much oil as possible while they still have a head start on America. As a result the supply will increase, and the prices will drop.And as for other countries bidding... t
dawg098 (November 30, 1999 at 12:00 am)
neo-con republicans are pathetic losers
ckekinit (November 30, 1999 at 12:00 am)
It will be several years before we see any oil hit the market and then, according to the oil experts, we will see only 3- to 5-cent savings. Now, when the oil does start flowing, will it be ours? Of course not. It will belong to the oil companies, and they will sell it to the highest bidder. The only ones that will benefit from drilling here and drilling now will be the oil companies, not you and not me. Oh, by the way, what happened to all the oil we were supposed to get out of the Iraq war?
GeminiAzules (November 30, 1999 at 12:00 am)
There is oil under a neighborhood in Texas.. and the oil company got permission to get core samples on the empty lots in the neighborhood.
CraftLulz (November 30, 1999 at 12:00 am)
We have oil under our village, foreigners are always asking m y village elders permission to drill, but we tell them no.
RageMoreNow (November 30, 1999 at 12:00 am)
God bless Bush!!

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