McCain supports lifting ban on offshore drilling
Republican presidential contender John McCain said he will announce Tuesday his support for relaxing a ban on US offshore oil drilling to ease what he called the domestic "energy crisis."
"Tomorrow, I'll call for lifting the federal moratorium for states that choose to permit exploration," McCain told reporters Monday in Arlington, a Washington suburb.
"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."
A 1981 law banned states from allowing oil companies to conduct offshore drilling and exploration. Virtually the entire Atlantic and Pacific coastlines are protected, along with significant sections of the Gulf of Mexico.
McCain was expected in a speech Tuesday to elaborate on his plan to expand drilling, although he reiterated his opposition to drilling in Alaska's Arctic National Wildlife Refuge (ANWR) despite President George W. Bush's call to open the protected area to oil exploitation.
"I believe that ANWR is a pristine area. Obviously, I've felt that way ever since we put it into permanent preservation status," McCain said.
"But I also believe that lifting the moratoria from off-shore drilling or oil and natural gas exploration is something that we should place as a very high priority."
He said states could be provided with additional incentives, including greater shares of revenues of the companies doing the drilling.
Like McCain, Democratic presumptive nominee Barack Obama opposes drilling in the ANWR, but he also reportedly supports maintaining the offshore moratorium.
New York's main oil futures contract closed Monday at 134.48 dollars per barrel after nearly topping 140 per barrel earlier in the day, despite news that Saudi Arabia was ready to raise output.
AFP
