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471

US To Expand Offhore Drilling to Ease Oil Prices

The White House on Wednesday made a new push for expanded offshore drilling to help lower fuel prices

US To Expand Offhore Drilling to Ease Oil Prices

The White House on Wednesday made a new push for expanded offshore drilling to help lower fuel prices, days after new government data showed American petroleum product exports hit record levels, Reuters reports.

President George W. Bush called on Congress to pass legislation before its month-long August recess to allow more offshore drilling.

"To reduce pressure on prices, we need to increase the supply of oil, especially here at home," Bush told reporters.

Bush this month lifted an executive order that had banned drilling in most U.S. waters and wants Congress to end its own drilling ban before lawmakers leave town in August.

The exports set a record for the month and were up 31 percent from a year ago.

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