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Bush removes executive ban on offshore oil drilling
President George W. Bush has removed the executive ban on offshore exploration on the Outer Continental Shelf, the OCS, that has stood since his father was in the Oval Office. Speaking in the White House Rose Garden, the president blamed the Democratically-controlled Congress for rising gasoline prices that averaged more than US$4.07 a gallon at the 4th of July holiday weekend. That is 13 cents more than last month and US$1.09 higher than a year ago, according to the American Automobile Association. `For years, my administration has been calling on Congress to expand domestic oil production,` ... |
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Biofuel policies in OECD countries costly and ineffective, says report
Government support of biofuel production in OECD countries is costly, has a limited impact on reducing greenhouse gases and improving energy security, and has a significant impact on world crop prices, according to a new study of policies to promote greater production and use of biofuel in OECD countries. OECD’s Economic Assessment of Biofuel Support Policies says biofuels are currently highly dependent on public funding to be viable. In the US, Canada and the European Union government support for the supply and use of biofuels is expected to rise to around US$25 billion per year by 2015 ... |
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