Navigating a middle course between environmental advocates and oil companies, President Clinton announced today a 10-year extension of the moratorium on oil drilling off virtually all United States ocean coastlines.
Do not read the following if you have high blood pressure.
Although there have been relatively few drilling-related oil spills in American waters, Mr. Clinton said, ''Even under the best of circumstances, is it really worth the risk?''
With worldwide oil supplies plentiful and domestic gasoline prices at near-record lows, extending the moratorium carries little political risk for the President.
In what I consider to be the understatement of the last 100 years...
The oil industry, always interested in finding new petroleum sources, said the President's decision to ban further offshore exploration worsened the nation's dependence on imported oil.....
''The moratoria's extension is unfortunate,'' Chris Kelley, an institute spokesman, said, ''because it ignores the near-perfect performance of the American petroleum industry in operating offshore in a safe and environmentally sensitive manner.''
''This regrettable decision, which is not in the long-term interests of American consumers, is particularly bad policy at a time of record U.S. energy imports,'' Mr. Kelley continued, reading a prepared statement. ''Ultimately, the extension means a smaller future supply of domestically produced oil and natural gas and a lost opportunity to create American jobs.''
Now you know. Be sure to vote for your Democratic Rep, Senator and Pres candidates.
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