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  • Obama OKs Oil Exploration Along Atlantic Coast, But Not Drilling

    03/28/2012 3:23:03 PM PDT · by Oldeconomybuyer · 17 replies
    ABC News via Yahoo! News ^ | March 8, 2012 | Devin Dwyer
    The Obama administration today endorsed new oil and gas exploration along the Atlantic Coast, setting the stage for possible future drilling lease sales. The announcement by the Interior Department sets into motion what will be at least a five year environmental survey to determine whether and where oil production might occur. There are also no guarantees the administration will approve drilling permits at the end of the environmental review. "The president's actions have closed an entire new area to drilling on his watch and cheats Virginians out of thousands of jobs," said Rep. Doc Hastings, R-Wash., who chairs the House...