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Fact Sheet: Allowing Offshore Exploration to Help Address Rising Fuel Costs
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For Immediate Release Office of the Press Secretary July 14, 2008

Fact Sheet: Allowing Offshore Exploration to Help Address Rising Fuel Costs

ÿÿWhite House News

ÿÿÿÿÿ President Bush Discusses Outer Continental Shelf Exploration

President Bush Lifts An Executive Ban On Oil Exploration In America's Outer
Continental Shelf And Calls On Congress To Lift Its Legislative Ban

Today, President Bush lifted an executive ban on producing oil from the
Outer Continental Shelf (OCS). ÿThis means that the only thing standing
between the American people and these vast oil resources is action from the
Democratically controlled Congress. ÿTo reduce pressure on prices,
President Bush recognizes the need to increase the supply of oil 
especially here at home.ÿ ÿFor years, his Administration has called on
Congress to expand domestic oil production.ÿ Unfortunately, Democrats on
Capitol Hill have rejected virtually every proposal  and now Americans are
paying the price.ÿ When Members of Congress were home for the Fourth of
July recess, they heard a clear message from their constituents: take
action now to expand domestic oil production.

Increased Access To Offshore Exploration In The OCS Is One Of The Most
Important Steps To Expand American Oil Production

Experts believe that OCS areas under leasing prohibitions could produce
about 18 billion barrels of oil. ÿWe will not know for certain until
exploration is allowed. ÿThe problem is that Congress has restricted access
to much of the OCS since the early 1980s. ÿSince then, advances in
technology have made it possible to conduct oil exploration in the OCS that
is out of sight, protects coral reefs and habitats, and protects against
oil spills. ÿWith these advances  and the dramatic increase in oil prices
 these Congressional restrictions have become outdated and
counterproductive.
  þ 

    Last month, President Bush asked the Democratic Congress to lift this
    legislative ban and allow the exploration and development of offshore
    oil resources.ÿ He committed to lift an executive restriction on this
    exploration if Congress did so, tailoring his executive action to match
    what Congress passed.ÿ However, it has been almost a month since he
    urged Congress to act  and the Democratic leadership has done
    nothing.ÿ They have not moved any legislation, and as Congress has sat
    idle, gas prices have continued to increase.
  þ 

    This failure to act is unacceptable to American citizens  and it is
    unacceptable to President Bush.ÿSo today, he has issued a memorandum to
    lift the executive prohibition on oil exploration in the OCS.ÿ With
    this action, executive branch restrictions on this exploration have
    been cleared away, except forÿareas within existing marine sanctuaries.
    ÿAreas near Florida are also off limits until 2022 under the Gulf of
    Mexico Energy Security Act.
  þ 

    This is a difficult period for millions of American families.ÿ They are
    rightly angered by Congress' failure to enact common-sense solutions.ÿ
    Today, President Bush has taken every step within his power to allow
    offshore exploration of the OCS.ÿ All that remains is for Democratic
    leaders in Congress to allow a vote.ÿ

The Time For Democrats In Congress To Act Is Now

Democratic leaders can show that they have finally heard the frustrations
of the American people by matching the action President Bush has taken
today, repealing the Congressional ban, and passing legislation to
facilitate responsible offshore exploration.ÿ This legislation must allow
States to have a say in what happens off their shores, provide a way for
the Federal Government and States to share new leasing revenues, and ensure
the environment is protected.ÿ
  þ 

    Republicans in Congress have proposed several promising bills that
    would lift the legislative ban on oil exploration in the OCS.ÿPresident
    Bush calls on the House and Senate to pass such good legislation as
    soon as possible.
  þ 

    This legislation should also take essential steps to expand domestic
    production from oil shale and in Alaska and to increase refining
    capacity. ÿCongress should clear the way for our Nation to tap into the
    extraordinary potential of oil shale  which could provide Americans
    with domestic oil supplies that are equal to more than a century's
    worth of current oil imports.ÿ Congress should permit exploration in
    currently restricted areas of northern Alaska  which could produce
    roughly the equivalent of two decades of imported oil from Saudi
    Arabia.ÿ Finally, Congress should enable the expansion of our domestic
    refining capacity  so that America will no longer have to import
    millions of barrels of fully refined gasoline from abroad.

These Proposals Will Take Years To Have Their Full Impact, So We Should
Move Quickly

For the long run, we are dealing with the demand for oil by promoting
alternative energy technologies. ÿPresident Bush's Administration has
worked with Congress to invest in gas-saving technologies like advanced
batteries and hybrid vehicles, mandated a large expansion in the use of
alternative fuels, and raised fuel efficiency standards to ambitious new
levels. ÿWith all these steps, we are bringing America closer to the day
when we can significantly reduce our reliance on oil.

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