House of Representatives approves offshore-drilling bill…
What’s in the House offshore-drilling bill?
(Christian Science Monitor)
The House of Representatives approved a bill on Tuesday September 16th, 2008 that would relax the federal ban on offshore drilling and try to expand renewable energy.
The bill, which was adopted by a vote of 236 to 189, was backed by Democrats, who long fought the lifting of the 26-year ban but have been under intense political pressure to look as though they are taking steps to ease high gas prices. Republicans, whose vociferous calls for expanded offshore drilling have been met with widespread public approval, opposed the bill, claiming that it did not offer enough financial incentives to coastal states. On the final roll call, 221 Democrats and 15 Republicans voted for the bill; 176 Republicans and 13 Democrats voted against it.
The 290-page Comprehensive American Energy Security and Consumer Protection Act, as the bill is known, contains a number of important provisions. Here’s a succinct breakdown from Christian Science Monitor.
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NYMEX: Light, Sweet Crude Oil (CL)
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NYMEX: Natural Gas (NG)
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NYMEX: Heating Oil (HO)
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EIA: Retail Prices
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Bloomberg: Wind Energy Index
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MAC: Global Solar Energy Index