Gore's Presidential Campaign Takes Aim at Oil and Gas Industry with Drilling Ban

Vice President Al Gore's statements on Thursday have likely sent a chill through the oil and gas industry, as he pledged to stop oil drilling in federal waters offshore California and Florida, even in areas where companies already have existing leases. In a bid to capture the California and Florida votes in the 2000 presidential elections, Gore played the green card heavily during a campaign event, emphasizing his commitment to protecting oceans and coastal waters from offshore oil drilling. This move comes as a surprise to the industry, which was already concerned about the administration's shift towards natural gas as a cleaner-burning fuel. Gore's statements fly in the face of a recent cabinet report and a Department of Energy report highlighting the oil and gas industries' environmental safety record.

Key Takeaways:

• Gore's presidential campaign has announced plans to stop oil drilling in federal waters offshore California and Florida, even in areas where companies have existing leases.
• The move is seen as a bid to capture the California and Florida votes in the 2000 presidential elections, and is being criticized by the oil and gas industry.
• Gore's statements contradict the administration's policy of turning to natural gas to help reduce greenhouse gas emissions.
• The American Petroleum Institute (API) has commented that Gore's statements are at odds with the Clinton administration's promotion of natural gas as a cleaner-burning fuel.
• Gore's statements also contradict a recent cabinet report recommending improvements to the production of outer continental shelf petroleum reserves.
• Gore's pledge to ban drilling off the coasts of California and Florida is a reversal of existing policies, which have allowed drilling in some areas.
• The oil and gas industry is concerned that Gore's statements will have a negative impact on the country's ability to secure domestic energy sources.

Statistics:

• According to a report by The Oil Daily, the Clinton administration's policy has already limited drilling areas in the US.
• The American Petroleum Institute reports that natural gas demand is increasing, and that the industry is promoting natural gas as a cleaner-burning fuel.
• The Department of Energy report cited by Gore mentions the oil and gas industries' environmental safety record, with statistics on reduced emissions and increased efficiency.
• The cost of drilling in federal waters offshore California and Florida is estimated to be high, with companies investing billions of dollars in existing leases.

Sources:

• The Oil Daily
• American Petroleum Institute
• Department of Energy report
• Al Gore's presidential campaign
• The Clinton administration
• George W. Bush