Obama’s Plan for Off-Shore Drilling: What’s Next? A Palatine Financial Report

April 8, 2010 - PRLog -- On Wednesday, United States President Barack Obama announced plans to expand oil drilling off of the US Coast. This plan may ease gas prices and also create jobs, which is good news for the nation’s millions of unemployed people. However, environmentalists are worried about shore line damage. States that depend on tourism also worry that this will negatively affect them.

The Palatine Financial team believes that any real impact will not occur for a long time. Anthony Perry, Director of Public Relations at Palatine Financial, believes that drilling may take 4-10 years before it has an impact in domestic fuel production.

This attitude seems to be echoed by industry leaders, including assistant secretary of energy David Sandalow, who was once quoted as saying, “Drilling offshore to lower oil prices is like walking an extra 20 feet per day to lose weight.” However, no person can be sure of the exact impact, as nobody is exactly sure how much oil is available beneath the seas that surround the United States.

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