Even if they start drilling tomorrow it will take 5 to 10 years. So not sure if it will have any immediate effect on gas prices.

I think that is the goal, to stop gas from being 12.00/gallon in 2018.

I am all for offshore drilling, but long term relief is not the goal of McCain's FULL-THROATED support of offshore drilling. He wants to drill for relief for "the here and now." The timetable for actual well production doesn't allow for that to happen. BTW, his position was different three weeks ago.

http://www.huffingtonpost.com/2008/0..._n_107872.html

In late May, during a campaign town hall, McCain was asked about the prospect of coastal drilling. His answer then was far more nebulous and skeptical of the idea compared to his recent, full-throated endorsement.
On a campaign stop in Greensdale, Wisconsin, the Senator suggested that turning to the nation's coast for energy needs would be something of a waste in time and effort and do little to resolve America's broader energy needs.

"[W]ith those resources, which would take years to develop, you would only postpone or temporarily relieve our dependency on fossil fuels," McCain said when asked about offshore drilling. "We are going to have to go to alternative energy, and the exploitation of existing reserves of oil, natural gas, even coal, and we can develop clean coal technology, are all great things. But we also have to devote our efforts, in my view, to alternative energy sources, which is the ultimate answer to our long-term energy needs, and we need it sooner rather than later."

Those remarks differ widely from the sentiment offered by the Senator yesterday, in which he presented coastal drilling as a move that would "be very helpful in the short term resolving our energy crisis."

"I believe it is time for the federal government to lift these restrictions and to put our own reserves to use," he said on Tuesday, "as a matter of fairness to the American people, and a matter of duty for our government, we must deal with the here and now, and assure affordable fuel for America by increasing domestic production."

I'd agree with most of that, but this was about Bush's proposal which could be argued as the same as McCain I guess.

Either way, I'm for off shore drilling, I'm for Alaska drilling, I'm for more refineries and eased EPA restrictions.

I know the thread is about Bush. Inexplicably, both Bush and McCain are now urging costal drilling at the same exact time, couple that with that McCain's drastic change of heart on the issue. It smells of political pandering, IMO.

Political pandering...well have a look at Mr experience Obama...pretty sure he's into political pandering as well... News flash..this is a presidential race, and political pandering is to be expected..

I agree with Wags..more drilling is needed, especially for the future....

Alright, we all agree that coastal drilling is good:thumbup: ... high gas prices bad.:thumbdown I'm sure Mr. Obama is engaged in pandering. Although I agree that pandering is commonplace in today's political world, should we expect and accept it? To be pandered to is not a good thing.

Pandering:

To cater to the lower tastes and desires of others or exploit their weaknesses.

In politics, pandering is to portray one's views to fit in line with a certain crowd of voters the candidate is attempting to impress, when often, these are not the candidate's true beliefs. A candidate may engage in pandering out of desperation if s/he is already losing a race, or if polls taken prior to an election show others as being in the lead.

Pander is also synonymous with pimping. I like that, "Political Pimping."

Someone.. quick... call [insert favorite rapper's name here] I have an idea for a new hit song.

It should have been started 10 years ago. We would be pumping it today if they did.

Here is a good read from Time regarding offshore drilling.

http://www.time.com/time/business/ar...0.html?cnn=yes

YOu are absolutely right on this one. As someone that works in the industry, I know what the lead time is in getting new reserves to the downstream operations. We can drill all we want now, but you can't produce it and the best estimate is like you said 5 years down the road.
All my pipes that I need to get the oil from the ground were ordered 2-3 years back. For me to get materials to complete my wells, I will need to order 3 years in advance, and prices of the raw materials have quadrupled due to strong demand from China and India.
The bottom line is that we need to alter the demand part of the equation, and that involves a mutifacet approach.

• We need to strengthen the dollar which is accounting for about $40/bbl increase due to its weakness caused by the twin deficits.
• The geopolitcal risk will have to addressed: presence in Iraq and war posture towards Iran- that is adding fuel to the fire
• Tight supply with increasing demand. Like I mentioned earlier, we have a huge influence on the demand part of the equation but quite minimal influence on the supply part in the short term (2-5 years). It is also a wrongly held myth that OPEC can increase production whenever they want- not true.
• Cost of basic raw materials that are used in well conctruction have quadrupled due to demand of these materials,and weakness in the dollar which is the currency of trade. This feeds back to the supply part of the equation, and also the lifting cost as well.

So I believe the solution is a multifacet one.