Last Updated ( Sunday, 22 February 2009 11:15 )
WASHINGTON -
Fifty miles out and not on Georges Bank, those are two of the key
points in the energy bill passed last night by the US House of
Representatives that would open previously off-limits coastal areas to
oil and gas drilling. Georges Bank, the most important fishing grounds
in new England, was spared at the last minute thanks to hard work by
Massachusetts representatives. more from Boston.comLast Updated ( Wednesday, 17 September 2008 00:58 )
"Drill Baby Drill" - It'll be good for the environment.
That's the argument advanced by Robert Hahn and Peter Passell in a NY Times editorial today. Drilling in new areas won't really change the price of gas they say, but it will generate $1.85 trillion (that's trillion with a "T") of revenue. After $400 billion (that's billion with a "B") to compensate for the loss of wilderness, the costs of clean up etc., there's still a nearly $1.5 trillion upside. They factor in the slight benefit of lower cost gas and being less vulnerable to supply disruptions and find an additional $200 billion in upside. Here's the question they ask environmentalists: "If a big chunk of that $1.7 trillion could be spent on preserving wilderness that didn’t happen to sit astride vast quantities of oil, would you really choose to spend it on keeping human hands off the currently protected sites?"
Last Updated ( Thursday, 18 September 2008 00:21 )
Last Updated ( Wednesday, 03 September 2008 00:35 )
Last Updated ( Wednesday, 27 August 2008 01:26 )