Let's not go uncorking the Champagne just yet...

Democrats to let offshore drilling ban expire

Good news…

(House)Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer.


Not so good news…

While the ban on energy development will be lifted if the Senate goes along with the House action, it doesn't mean any federal sale of oil and gas leases in the offshore waters - much less actual drilling - would be imminent.

The Interior Department's current five-year leasing plan includes potential leases off the Virginia coast but probably would not be pursued unless the state agrees to energy development. And the state is unlikely to do so without Congress agreeing to share federal royalties with the state. (ed.: Nor would any state for that matter)


Since its now painfully obvious we are not going to farm our way out of this energy crisis, we’ll take solace that things have at least moved off of top-dead-center with respect to doing something concrete in addressing the energy crisis.

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