Will US Congress Approve Offshore Oil Drilling in 2008?

• 8
  ziibos

(hide summary▲)

On July 14, President Bush today lifted a presidential ban on offshore oil drilling on the outer continental shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gasoline prices. The White House hopes that record crude oil prices and a national average price for regular unleaded gasoline of nearly $4.11 a gallon will weaken opposition to new the new offshore drilling. Among the opponents are environmental groups, tourism interests, commercial fishermen and most Democrats in Congress.

Sen. John McCain, the presumptive GOP nominee, has endorsed opening the outer continental shelf for exploration. The expected Democratic nominee, Sen. Barack Obama, opposes lifting the moratorium, arguing that drilling would take years and would have no appreciable impact on gas prices.

Prediction Guideline

• Your score is calculated at the end of the closing day by: (outcome accuracy x time weight).
• Time weight represents how much time you hold your prediction. So the early you predict, the higher your score if you get it right.
• If you update your prediction, we will score all your update(s) based on their time weight.

STEP 1:  My Prediction

	ZiiValue (chance)	MyValue (0% to 100% chance)	()	Possible Outcomes
	37%			Yes
	63%			No

STEP 2:  Comment

Submit Prediction Cancel