Drilling for oil off the shores of America
The debate over offshore oil drilling set against high gas prices, environmental concerns, oil speculation, and the politics of energy.
John McCain and other Republicans say it's time to start drilling for oil off the shores of America. Barack Obama leads those Democrats who say, not so fast. How soon would gasoline prices be affected? Would just the intent to drill send the right message to the rest of the world? What about dealing with climate change?
The price of oil crossed the $100-a-barrel threshold at the first of this year. Last week, it hit a record $147, then dropped below $130. But it's creeping up again today. Nobody expects to see $100 a barrel ever again. That means high gasoline prices are here to stay.
From President Bush on down, Republicans are advocating an end to the moratorium on off-shore oil drilling. High gas prices are increasing public support, even though there would be no direct impact for decades. "To the Point" talks to Congressmen on both sides of what's shaping up as a major election-year issue. Would the declared intention to expand domestic supplies send the right message to oil producers and speculators around the world? Should oil companies drill first on land they've already leased? What about seizing the moment to get off oil and deal with global warming?
Guests:
- Mike Conaway: Congressman (R-TX)
- Earl Blumenauer: Congressman (D-OR)
- Ben Geman: Senior Reporter, Greenwire News Service
- Robert Dillon: Columnist, "Fairbanks Daily News-Miner"
- Eric Smith: Professor of Political Science, UC Santa Barbara
Hosted by award-winning journalist Warren Olney, "To the Point" presents informative and thought-provoking discussion of major news stories — front-page issues that attract a savvy and serious news audience.
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