President Obama: Drill, Baby, Drill

ABC News - On Wednesday morning at Joint Base Andrews Naval Air Facility in Washington, DC, President Obama will announce that his administration will allow the lease sale to go forward for oil and gas exploration 50 miles off of the Virginia coast -- the first new sales of offshore oil and gas in the Atlantic in more than two decades.

The Department of Interior will also allow seismic exploration for oil and gas in the Outer Continental Shelf from Delaware all the way South to the tip of Florida, to assess the quantity and location of potential oil and gas resources. A White House official says that the president will also approve a lease sale in Alaska's Cook Inlet, while canceling another lease sale in Alaska's Bristol Bay because of environmental concerns. (Lease sales in Alaska's Chukchi and Beaufort Seas are essentially being suspended pending further scientific review.) Read more.

In 2008 Obama spoke AGAINST offshore oil drilling