In order to expand its oil and natural gas exploration base in the Atlantic, eastern Gulf of Mexico and to the northern shores of Alaska, the Obama administration has come up with a new offshore-drilling strategy.

The above mentioned areas have been considered since they have as much as 80 per cent of the total undiscovered oil reserves. President Obama has said that it is going to be a part of the larger energy strategy of the US.

Now drilling can be done in these places.

This becomes even more important since the rally that began in January is cooling down and the spending and other economic conditions have cooled. But even with that the demand for oil has not gone down. The prices too are going up and that would have an impact on the economy.

Talking to the press, during an event at the Andrews Air Force Base in Maryland, President Barrack Obama said that the passing of this legislation is important since it is needed for the betterment of US industries. Besides, such kind of initiative is also needed to save the planet.

The change is happening in the 2007-2012 exploration and development program.