The Expansion of Offshore Drilling

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The Obama administration has loosened the restrictions on offshore oil drilling off northern Alaska and the East Coast.

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Given the peculiarities of petroleum extraction, the public shouldn’t buy any arguments that it’s going to accomplish a lot in terms of energy independence or payback for taxpayers.
Mr. Obama's plan would push current oil and gas production in the western Gulf of Mexico eastward. Given today's realities, it may be the best of a bad situation.
Editors Note: