The so-called Gang of 10 plan would lift drilling bans in the eastern Gulf of Mexico, but retain an environmental buffer zone extending 50 miles off Florida's beaches and in the South Atlantic off Virginia, the Carolinas and Georgia, but only if a state agrees to the oil and gas development along its coast. The states would share in revenues from oil and gas development.
Drilling bans along the Pacific coast and the Northeast would remain in place under this compromise.
The plan also includes energy initiatives Obama has endorsed. "It would repeal tax breaks for oil companies so that we can invest billions in fuel-efficient cars, help our automakers re-tool, and make a genuine commitment to renewable sources of energy like wind power, solar power, and the next generation of clean, affordable biofuels," Obama noted.
"Like all compromises, it also includes steps that I haven't always supported," Obama conceded. "I remain skeptical that new offshore drilling will bring down gas prices in the short-term or significantly reduce our oil dependence in the long-term, though I do welcome the establishment of a process that will allow us to make future drilling decisions based on science and fact."
Nevertheless, Obama said the plan, put forward by mostly moderates and conservatives led by Sens. Kent Conrad, D-N.D., and Saxby Chambliss, R-Ga., "represents a good faith effort at a new bipartisan beginning."
He has not endorsed off shore drilling as a solution to our energy crisis. He has said he would not oppose the legislation as it is being proposed, at the moment, by the gang of ten.
They will not be back until Sept. No legislation will be written or passed around Congress for months and months and months.
He is saying if the Eastern states - choose to engage in off shore drilling - circumscribed, controlled etc etc then it's up to them.
How long will it take a state to get an amendment thru it's own Senate? How long then for the impact studies? How long for the oil companies to jump thru all the EPA hoops before even attempting to drill? Years and years.
Which all 10 of the gang of ten know!!
It's a sop. It shuts up the drill now idiots.
By being flexible on a matter that means nothing - because it will never come to pass - isn't flip flopping or treason or whatever heinous crime some care to paint it.
And if the legisaltion does not meet his approval - if it even gets written in a year or so - then he can veto it.
This is what he has said he would give us - smart politics. Bipartisan politics. Working government.
Finally.