George Heitmann: Good economics, good politics on oil drilling -- themorningcall.com

George Heitmann: Good economics, good politics on oil drilling -- themorningcall.com: "Offshore drilling and the opening of ANWR have become controversial political issues that are now dividing Democrat and Republican leaders. Sen. Barack Obama is carefully wording his opposition, allowing future scope for changing his position should political expediency dictate. House leader Nancy Pelosi is more adamant in her opposition. Sen. John McCain, as presidential candidates are wont, is also cautious in his endorsement of offshore drilling, giving support with qualifications, and is opposed to ANWR drilling. President Bush is fully in favor of expanding our search for additional domestic oil reserves. Sixty-seven percent of the American public, based on a recent poll, favor such drilling; a good reason for the caution and qualifications of our presidential candidates.

Sen. Obama and Democrat leaders have stressed that such an opening to wider oil company exploration will not have any immediate effect on oil prices. They rightly observe that it takes several years before newly probed oil regions can be properly assessed, and, if deemed economically viable, brought into production. But, one should also note that there is a much shorter delay than there once was between exploratory drilling and the online production that follows an economically successful discovery."