McCain: Open for O&G Exploration

Tuesday, June 17, 2008
John McCain favors expanded O&G drilling.

John McCain, the presumptive Republican presidential candidate, will score points with the offshore oil and gas industry with his recommendation to lift federal moratoriums that restrict drilling for oil and gas, in the name of energy security. In a recently release, he stated  "I'll call for lifting the federal moratorium for states that choose to permit exploration. I think that this, and perhaps providing additional incentives for states to permit exploration off their coasts, would be very helpful in the short term in resolving our energy crisis. We've seen the impact of it in the form of food prices, the form of gasoline, and the form of threats of inflation, and indeed indications of inflation. We must embark on a national mission to eliminate our dependence on foreign oil and reduce greenhouse gases through the development of alternative energy sources. And, as I said, exploration is a step toward the longer term goal. And, I will repeat my advocacy of a gas tax holiday, which is impacting low-income Americans on a fixed income who are driving automobiles that consume gasoline at a greater rate, and they're driving further, and I think that they deserve a break."

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