US to open offshore oil drilling for the first time
Posted by admin . Published on 31 March 2010, Received
Obama might have found the easy route to get US out of the current financial mess. Yes, he is now planning to allow offshore oil and gas drilling off Virginia Coast. That could not only cut down the import of oil in the future, it may also give an immediate push to employment in the entire region.
Oil drilling involves huge investments and also needs major manpower deployment for years together. The decision also could help the US in reducing the cost of their balance crude oil purchases. If US is able to find major oil reserves in the region, that could well propel another round of economic growth for the largest country in the world.
