Is this whole new drilling exploration thing going to make a difference anywhere except in politics?

[phleshdef]

Will any drilling ever actually happen? Why aren't they drilling in all the places where they all ready have the go ahead?

I'm not pro-drilling at all. I think its a waste of time and of course there are the environmental concerns which go without saying.

I believe the President is making a political calculation here and its risky, especially with the tendency of some of us on the left to knee jerk react without actually trying to see whats really going on. But honestly, is this anything more than throwing the drilling advocates a phony political bone so that a greater political argument can be made for the upcoming climate/energy bill fight?

[polichick]

1. He'll get no more Republican support now...

...than he got on the stimulus and the healthcare bill - so the people get shit instead of good policy AGAIN.

[phleshdef]

2. That doesn't exactly answer my question but thanks.

[polichick]

4. The answer is yes. nt

[zulchzulu]

8. If the Republicans go on record saying they are against offshore drilling...

...they can walk into that steaming pit of political quicksand if they want.

The drilling won't happen, but they have to say they are for drilling.

Checkmate.

[polichick]

9. The point is, they still won't vote for a decent energy/climate bill. nt

[NJmaverick]

3. The oil companies haven't bothered to develop what they already have

so odds are good they will do the same with the extra they get.

[depakid]

5. Nope- won't put a dent in the coming supply crunch

and the unfortunate reality is that these areas are going to eventually be drilled as American's insatiable appetites, wasteful lifestyles and magical thinking will demand it.

[Cha]

6. Well, what it accomplishes..

is the haters getting to work up a frenzy..so they're happy.

[damntexdem]

7. Yes, it will foul the environment.

[unc70]

18. Possibly foul the Chesapeake Bay and the Pamlico Sound

Other than destroying the largest estuary system in the North Atlantic, what could go wrong?

Much of the Virginia coast and all of the NC coast is a giant hatchery that is critical for almost all marine life in the NA. either directly for the species or indirectly for its food chain. In addition, it is critical for huge flocks of birds that depend on the areas around the Pamlico.

[HughMoran]

10. Nope. They are already taking oil where it's profitable

...and it's likely none of these contracts will be fulfilled. Much ado about very little. Many areas are still off limits, so it's not like it was opened up everywhere.

[Mojorabbit]

11. I disagree

I live in Central Fl and the republicans in our legislature are all for drilling, they also want a cut of the profits to go to the state which is in bad financial shape. I am not counting on a maybe that contracts will not be fulfilled.

[Hawkeye-X]

12. Trust me - it won't be.

It's a brilliant move by Obama to try to get the gas prices down - it would force the oil companies to spend more money on building new refineries to process the oil - and they WONT do it.

Hawkeye-X

[jeanpalmer]

13. More likely it's to prempt the ongoing spike

in gas prices from becoming a poltical issue. Also, it's an indication they think gas prices are headed higher. I take it to mean it's time to buy oil. That's how the oil market interpreted it. Oil prices reached a high today not seen since Oct 2008 -- spiked up on Obama's announcement.

[FlaGranny]

14. Randi Rhodes

yesterday claimed the "drilling" was to counter speculating on oil prices - the speculation is what is driving up the prices. She is the only person I've heard (on TV or radio) who thought that was the reason.

Sometimes I think Obama is very, very underestimated. I've been guilty of it at times myself. I think that 99% of the time he knows exactly what he is doing, why he has to do it that way, what he can get out of it, and just how far he has to go to get as much as he can.

[jeanpalmer]

15. His proposal won't have any effect on speculation

That's because it will produce little oil overall and none in the near future. Speculation on oil peaked in mid-2008, and since then many speculating hedge funds have gone out of business. But it's still there, just not at the same level of intensity. But if the price keeps going up, it will attract more speculators.

However, we are entering the driving season when oil and gasoline prices tend to rise sharply. And we're starting from a high base price -- oil at $83 a barrel and gas at ~$3 a gallon. It was the sharp increase in oil and gasoline prices in the first half of 2008 through July that preceded and many say caused the slowdown in the economy and the collapse of the stock market in September. So Obama has reason to worry about another spike up in gas prices and its consequences. With housing prices still weak, interest rates rising, and little improvement in employment, a gas price spiral upward could tip the country into a second dip recession.

[JustABozoOnThisBus]

16. It will appease the Republicans

The repubs will smile, nod their heads, praise the bipartisan attitude toward energy,

and then they will all vote "no" on any piece of legislation that's the least bit progressive.

This appeasement gets us nothing.

:hi:

[Vinca]

17. As my late grandfather, an old Vermonter, might have said,

it'll amount to a "pisshole in the snow."

[phleshdef]

19. LOL. Sounds just like my grandmother.

[Sebastian Doyle]

20. Hell yes it's going to make a difference!

It's going to be great for my stock portfolio. Thank God for the oil industry!

[DatManFromNawlins]

21. It will create new habitat for fish and sea creatures

The kooks who have no clue about rigs and drilling will tell you differently, but that's a fact.

[lunatica]

22. Is drilling the same as exploration?

Offshore oil exploration or offshore oil drilling. Aren't the different things?

[TransitJohn]

23. I might get more work closer to home.

But it won't accomplish anything big-picture at all.