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Remember that moronic chant that the Republicans started during their convention, something like Let’s Drill Baby, or Drill Drill Drill…Ah, thank you, Sarah. Anyway, it turns out that while Americans were distracted with news about our terrible economy, the GOP made good on their promise, and the drilling has begun. The Bush Administration has begun the process of oil exploration off the coast of Virginia, and debate over the issue has officially been closed. The Department of Interior is now set to lease 2.9 million acres of the ocean to oil and natural gas companies, less than 50 miles off the coast of Virginia. The administration’s own best estimates show that this area could contain about 130 million barrels of oil, which amounts to a little less than a week’s worth of oil for the United States, at current consumption rates. The incoming Obama administration will now have to tackle this issue head on upon taking office, and the Bush crew is working tirelessly to make sure the drilling process begins before Obama can be sworn in.

Hey everybody. I’m Farron Cousins, and you’re watching The Raw Roundup on The Daily Left – brought to you by Raw Story and GoLeft TV. Here are this week’s top stories:

In case you missed it, Dick Cheney recently admitted to authorizing torture, which is a war crime. While making an appearance on MSNBC’s The Rachel Maddow Show this past Wednesday, Senator Carl Levin said that Cheney’s admission was nothing short of a confession. Senator Levin oversaw an 18-month long investigation into the Bush administration’s torture policy that established that the abuse of prisoners at Abu Ghraib, and Guantanamo Bay resulted from policies introduced by George W. Bush. Levin spoke on the need for further investigations, and the ultimate necessity for indictments in order to hold those responsible for torture policies accountable. Levin was hopeful that the Obama administration would take some major steps on the issue, seeing as how the current Justice Department is not willing to do so. He also talked about the need for an independent commission that could be appointed by the Obama administration to examine the role of the CIA in the treatment of U.S. detainees, since their role has not yet been made clear. Levin concluded by saying that, with all the facts, they may or may not lead to indictments, or possibly civil action.

The federal government seems to believe that, even though they haven't been paying taxes, we should use tax dollars to bail out America's failing financial institutions. Mike Papantonio of Air America's Ring of Fire talks about how corporations (like AIG) managed to avoid the IRS for years by hiding their money in offshore accounts. These are the same companies who are being rescued by the $700 billion bailout.