President Bush did his old oil buddies a solid today by proposing that offshore drilling be allowed in a half dozen areas that are currently considered off limits.  This will have to be taken up by President Elect Obama and his new Secretary of the Interior Ken Salazar.

In spite of a global decrease in demand for oil Bush is seeking to allow drilling in new areas off the coasts of California, Alaska as well as in the Gulf of Mexico and along the Atlantic coast.   It will be interesting to see how the Obama administration responds to this.