Congress rushes disaster assistance through House
By Sherry Koonce
The Port Arthur News
A quarter-century ban on offshore drilling in the Atlantic and Pacific expired this week. Language that would have continued the ban was omitted from the spending bill.
The Associated Press reported Wednesday that Republicans have made lifting the ban a key campaign after gasoline prices soared beyond $4 a gallon this summer and public opinion turned in favor of more drilling. President Bush lifted an executive ban on offshore drilling in July.
The Interior Department estimates there are 18 billion barrels of recoverable oil beneath coastal waters now off-limits, the AP reported.
“This is great news for energy independence,” Poe said. I think it will immediately help stabilize or decrease the cost of fuel because of the threat of competition with OPEC.”
Poe said the nation would likely have seen a greater decrease in fuel prices, had it not been for the damage sustained to Texas refineries because of the Hurricane.
The spending bill is expected to be voted on in the Senate this week, and has the support of President Bush, Poe said.
Also in the bill:
• $600 billion appropriated for 2009 budges for the departments of Defense, Homeland Security and Veterans Affairs.
• $25 billion in federal loans to help Detroit automakers retool factories to produce automobiles meeting new emissions and fuel efficiency standards.
• Funding for heating and air conditioning subsidies were doubled to $5.2 billion.
• Keeps most domestic agencies operating at current funding levels through March unless Congress separately enacts their budgets.
Contact this reporter at skoonce@panews.com.