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 Post subject: Bush Lifts Oil-Drilling Ban in Alaska's Bristol Bay
PostPosted: Thu Jan 11, 2007 7:07 am 
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http://www.truthout.org/docs_2006/011007D.shtml

The Bush administration yesterday moved to boost U.S. oil and gas supplies by lifting a long-standing moratorium on drilling in Alaska's Bristol Bay, as OPEC accelerated plans to reduce supplies in order to prop up sagging crude prices.

Days before the House is expected to roll back oil industry tax breaks, the Bush administration also decided to boost royalty rates by a third for ultra-deep-water oil and gas drilling. The action eliminates extra incentives that had been given to offset some of the high costs of operating in those offshore areas. The Interior Department said the change would generate an additional $4.5 billion over 20 years.


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PostPosted: Fri Jan 19, 2007 12:30 am 
Bush did something ELSE right! Cool! Alaska is a sovereign state that is PERFECTLY capable of deciding an issue like this, for itself.


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