From the Raleigh N&O:
Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts -- including North Carolina's shoreline -- to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4-a-gallon gasoline prices this summer.
Republicans have made lifting the ban a key campaign issue after gasoline prices spiked this summer and public opinion turned in favor of more drilling. President Bush lifted an executive ban on offshore drilling in July.
"If true, this capitulation by Democrats following months of Republican pressure is a big victory for Americans struggling with record gasoline prices," said House GOP leader John Boehner of Ohio.
Congressperson Boehner must be referring to the expected 3% (at most) reduction of gas prices in 2025. But, regardless of the phony gas price issue, the net benefits of offshore drilling are way, way positive (even considering climate change) so the official Environmental Economics blog position is in favor.
