This week, Obama announced that the U.S. is opening up new areas of our coastal waters to be used for offshore drilling for oil and gas (Is Offshore Drilling Worth the Risk). Hundreds of million acres will be utilized in an attempt to reduce dependence on foreign oil and make money from the sale of leases. Lots of energy companies and economists have been big advocates of the increased drilling since gas prices began rising, hoping that there will be “decades of new oil fields to plunder”, but environmentalists think that there isn’t as much oil to be found in these offshore areas. They believe that there might be more risk than reward.
It isn’t known how much this will affect our economy, but it is definitely going to impact the ocean. Think about the habitats that will be affected in the ocean by the drilling taking place deep in the oceans. What if there are oil spills? But there may be a huge payoff if a large amount of oil is found. At the least it creates more job opportunities for lots of people. This could be a disaster waiting to happen or benefit to America’s economy; only time will tell.
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