President Obama is set to propose today a sweeping plan to allow for offshore oil and natural gas drilling along much of the Atlantic coastline, the eastern Gulf of Mexico and the north coast of Alaska. Environmental groups and many politicians from coastal states have opposed expanded offshore drilling, citing the environmental risks associated with spills. Under Obama’s plan, the environmentally sensitive Bristol Bay in southwestern Alaska would be protected from drilling. The New York Times reports the proposal is intended to reduce US dependence on oil imports, generate revenue from the sale of offshore leases, and help win political support for the Democrats’ comprehensive energy and climate legislation. Major questions remain over the proposal. Much of the oil and gas may not be recoverable at current prices, and it is not known how much potential fuel lies in the areas opened to exploration.
Obama Proposes Lifting Offshore Drilling Moratorium
HeadlineMar 31, 2010