EIN News says, "Oil Drilling Approvals by EPA Expedited Under House-Passed Bill The Environmental Protection Agency would have to issue or deny air permits for offshore oil drilling within six months under legislation passed by the U.S. House. (bloomberg.com)".
Unfortunately, EIN News has this wrong. An EarthJustice website probably has it correct. http://earthjustice.org/news/press/2011/house-passes-bill-that-would-rush-oil-drilling-permits.
According to EarthJustice, which is apparently an environmental organization, the House-passed bill H.R. 1229 requires the Department of Interior to decide whether to approve a drilling permit within 30 days after receiving an application and allows only two 15-day extensions of this deadline. Notice that it is the Department of the Interior and not the EPA.
While the EPA is a significant danger to the economy, it appears not to have anything to do with oil drilling. The big problem with the EPA is establishing regulations to control emissions of carbon dioxide from power plants, which will significantly increase the cost of electricity through carbon capture and will also allow the development of a carbon tax, which will again increase the cost of electricity.
Sec. Salazar of the Department of the Interior has been the main instrument to deter oil and gas drilling by denying drilling permits. He works for Pres. Obama, whose objective is to foster the development of wind and solar energy, even at the total expense of reducing the economic capacity of the US.
I am pleased to see that the House has taken this action, and hopefully will have the support of the Senate. There is likelihood that Obama may veto it, but he has a strong incentive to be reelected in 2012, and if he feels that there is strong public support for the bill, he may sign it.
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