Earth Equity News

Pelosi Intent on Maintaining Moratorium Against Offshore Drilling. By Carl Hulse, NYTimes, July 17, 2008. "[As] House speaker, [Nancy Pelosi] can prevent a vote on expanded drilling from reaching the floor. And she and [Senate Majority Leader] Harry Reid... appear intent on holding the line against calls to approve drilling in areas now off limits. They argue that the oil and gas industry is not aggressively exploring large expanses it has already leased on land and offshore. They have also urged Mr. Bush to pour some fuel from national reserves into the commercial supply chain in an effort to lower prices. Trying to demonstrate that Democrats are not opposed to drilling in acceptable locales, the House is scheduled to vote on Thursday [today] on a proposal that would deny oil companies any new leases unless they can show they are diligently exploring existing holdings. The measure would also require annual lease sales from lands in Alaska set aside as a National Petroleum Reserve, and direct the Interior Department to make sure a pipeline is linked to the reserves. Democrats, not subtly, are calling the measure the Drill Responsibly in Leased Lands, or Drill, Act."