Obama to Announce Extended Off-Shore Drilling Plan

March 31, 2010  |  

(Bloomberg) — U.S. President Barack Obama will today announce proposals to allow oil and natural-gas drilling off U.S. coastlines in the Atlantic Ocean and Gulf of Mexico when he delivers a speech on energy security.

Obama will propose allowing exploration off the coast of Virginia and, if a Congressional moratorium is lifted, in the Gulf of Mexico 125 miles (201 kilometers) off the coast of Florida, according to an administration official speaking on the condition of anonymity.

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