Monday, August 25, 2008

Pelosi says case needed for U.S. offshore drilling U.S. House of Representatives Speaker Nancy Pelosi said on Sunday that expanded oil drilling in federal waters could be included in a broader energy bill if advocates can prove its viability as a solution to America's energy problems. Pelosi, a California Democrat who reversed her outright opposition to expanded offshore drilling earlier this month, said the oil industry and its allies in Congress must also agree to royalties on oil profits to fund the development of renewable energy resources. She criticized President George W. Bush and other Republicans for presenting offshore drilling as an answer to the recent rise in U.S. gasoline prices, saying expanded drilling would not affect prices for a decade and then only by a small degree....

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