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Politics : American Presidential Politics and foreign affairs

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To: calgal who wrote (42511)	4/1/2010 6:01:19 PM
From: DuckTapeSunroof	Read Replies (1) of 71588

Re: "That is a bold move, and something he should do." I believe that most Americans approve, (in general), of the idea of opening coastal drilling up --- albeit with some significant opposition in certain quarters. Disney and real estate / tourism interests in Florida for one have uniformly been opposed to drilling off their shores (which is, I'm sure, why Obama suggested 125 miles, longer off shore then other areas, for FL.) One thing to keep in mind though... it will take decades to drill out these areas. (Added supply will be incremental at best.) And, right now anyway, the world is currently awash in oil because of the lowered global demand from the global recession. OPEC, (and others), have significant unused pumping capacity at the moment.... (Much of the recent rise in prices has nothing whatsoever to do with any 'shortage' of supply --- because there is no current shortage, the world is currently over-supplied and storage levels are at record highs. Probably it's financial markets all betting on one side of the trade that has caused the recent rise....)

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