Offshore Drilling Package Future Unclear

Offshore Drilling

Offshore Drilling

Democrats are in danger of having the legislation fail, since oil-state and Blue Dog Democrats are siding with Republicans, who are almost-universally opposed to it.

The bill would ensure more stringent standards imposed on offshore drilling practices, as well give presidential commission full veto power over all oil investigations.

The Gulf’s restoration would also benefit greatly from the bill.

It would also require drilling companies to disclose the ingredients used in their chemical cocktails, as well oblige them to provide full estimations of environmental damages that their drilling would produce, as well as full-compensation responsibilities during spills.

However, much argument might be created, if the other side lays the claims that once even the strictest new regulations are upheld, the moratorium banning deepwater exploration is to be lifted indefinitely.

The Republicans and officials from Gulf-states have long since opposed the ban that they claim has severely damaged local economies.

Bill Politics

Despite the White House reacting positively towards the bill, the House of Commerce remained sceptical, calling it perhaps a panicked solution to the catastrophic Gulf spill.

Democrats have claimed that the reform is supposed to prevent a second disaster from happening, yet Republicans have stated that it is simply a financial manipulation of the tragedy, and that rather than make deepwater drilling as safe as possible, instead American jobs are being destroyed, and taxes raised criminally.

The bill razing the liability cap of the oil companies is also a sore issue for the Republicans who have claimed that the no-limit liability would make insurance claims soar beyond reason.

In that, they are supported by the business community which concur that without the cap, independent producers will perish, and the Gulf’s economy will plummet in turn.

-Chris Termeer