In an effort to create jobs and gain back some GOP support, Obama disappointed some of his anti-capitalism environmentalist friends who don’t want energy taken from the coastline.
The President said this is part of his strategy to move us away from fossil fuels and foreign oil to rely on more homegrown fuels and clean energy.
"The only way this transition will succeed is if it strengthens our economy in the short term and the long run," the president said. "To fail to recognize this reality would be a mistake."
Another words; the government cannot continue to grow and tax and spend, without new creating new jobs to pay for it.
Israel and Iran
I would also like to bet that last week's meeting with Israeli’s Prime Minster had something to do with this decision.
If Israel attacks Iran, global oil prices are most likely going to increase very quickly and for a nation with a high dependence on foreign oil prices – this is a national security issue.
Although it will take many years before these new oil sources can be brought to full production, they can be used to talk the price of oil down – by threatening to use our own oil if foreign nations try to use oil prices to hold us hostage in trade or currency or military negotiations.