Obama To Lift Ban On Offshore Oil Drilling

"President Barack Obama announced plans Wednesday to reverse a decades-old U.S. ban on new drilling for oil and natural gas off some parts of the country's shores. The president's decision also reverses a stance he took in the 2008 election campaign. President Obama said allowing some new offshore drilling will help meet the nation's energy needs while alternative energy sources are being developed. ""So today, we are announcing the expansion of offshore oil and gas exploration, but in ways that balance the need to harness domestic energy resources and the need to protect America's natural resources,"" said President Obama."