" We're announcing the expansion of offshore oil and gas exploration but in ways that balance the need to harness domestic energy resources and the need to protect America's natural resources," Obama said, "This announcement is part of a broader strategy that will move us from an economy that runs on fossil fuels and foreign oil to one that relies more on homegrown fuels and clean energy. And the only way this transition will succeed is if it strengthens our economy in the short term and long term."
He added: "To fail to recognize this reality would be a mistake."
Obama said, "This is not a decision that I've made lightly." He addressed environmentalists by saying he had studied the issue for over a year and concluded it was the right thing to do considering the nation's need for energy and the need to produce jobs and keep American businesses competitive.
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