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Whether you're new to economics or just want to deepen your understanding, this course covers the basics and connects them to today’s pressing issues—from inequality to public policy decisions.
Each week, you'll receive a reading guide that distills core principles, offers actionable takeaways, and explains how they affect the current world. While the full ebook enriches the experience, the guides alone provide a comprehensive understanding of fundamental economic ideas.
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By MATTHEW DALY and BRENDAN FARRINGTON, Associated Press
WASHINGTON (AP) - In a reversal, the Obama administration said
Wednesday it will not pursue offshore drilling off the East Coast of the U.S. and the eastern Gulf of Mexico.
A senior administration official told The Associated Press on
Wednesday that because of the BP oil spill, the Interior Department
will not propose any new oil drilling in waters off the East Coast
for at least the next seven years.
President Barack Obama's earlier plan - announced in March,
three weeks before the April BP spill - would have authorized
officials to explore potential for drilling from Delaware to
central Florida, plus the northern waters of Alaska. The new plan
allows drilling in Alaska, but officials said they will move
cautiously before approving any leases.
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Interior Secretary Ken Salazar planned to discuss details of the
decision later Wednesday.
The eastern Gulf - an area stretching from 125 to 300 miles off
Florida's coast - was singled out for protection by Congress in
2006 as part of a deal with Florida lawmakers that made available
8.3 million acres to oil and gas development in the east-central
Gulf. Under that agreement, the protected region is to remain off
limits to energy development until 2022.
But the administration had entertained the idea of expanded
drilling, until the BP spill that spewed an estimated 172 million
gallons of oil into the Gulf. In order to open more of the eastern
Gulf to drilling, the administration would have to ask Congress to
lift the drilling moratorium.
The new plan does not affect the Pacific seaboard, which will
remain off-limits to drilling in federal waters.
Officials for the major oil drillers and firms that service the
industry did not immediately respond to requests for comment from
The Associated Press.
The decision to abandon offshore drilling along the East Coast
follows questions raised by the president's oil spill commission as
to why top-level administration officials were not consulted before
the drilling expansion was announced in March.
At the time, Obama said he did not make the decision lightly and
had looked at it closely for more than a year with Salazar and
other administration officials.
But in August, White House Council on Environmental Quality
chairwoman Nancy Sutley and National Oceanic and Atmospheric
Administration chief Jane Lubchenco told the commission that they
were not directly involved in the decision.
Florida has long banned drilling in its state-controlled waters
- those immediately off its shores, before federal jurisdiction
takes over farther out - because of fears that a spill would damage
its beaches, the state's biggest tourism draw. But even state
lawmakers, including Gov. Charlie Crist, were considering opening
those waters to drilling before the spill.
On Wednesday, Crist called the decision "wonderful news"
"That's news that will be very favorably received by the
tourist industry throughout the state, but also by the people,"
Crist said.
He also said he's not surprised that the BP spill would make the
administration take another look at its management plan,
considering it was one of the country's largest environmental
disasters.
"If that's not a wake-up call, I don't know what would be,"
Crist said. "If that doesn't have an impact on your thinking, you
must not be thinking."
Sen. Bill Nelson, D-Fla., who has long fought for drilling bans
off Florida's Gulf coast, praised Obama for "listening to the
people of Florida."
---
Associated Press writer Dina Cappiello contributed to this
story.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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