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Drill, Baby, Drill?

May 6, 2011 - by Donny Shaw

Oil prices may have had their biggest drop since 2008 yesterday, but that didn't stop the House from using the bubble to push forward their legislation to expand offshore oil drilling. By a vote of 266-149 yesterday, the House passed the "Restarting American Offshore Leasing Now Act," which would force the Secretary of the Interior to conduct lease sales on three drilling sites in the Gulf of Mexico and one of the coast of Virginia. The Obama Administration had put these leases on hold indefinitely following the BP spill in order to ensure that the lax regulatory environment that made that spill possible had been improved. So far, however, Congress has not passed a single piece of legislation to improve offshore drilling safety

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