Obama Seeks To Open Offshore Oil Drilling In the U.S.

The Obama administration is proposing to open area for the first time for offshore oil and gas drilling in the waters along the Atlantic coastline, the eastern Gulf of Mexico and the north coast of Alaska.

The proposal would "end a longstanding moratorium on oil exploration along the East Coast from the northern tip of Delaware to the central coast of Florida, covering 167 million acres of ocean," according to the New York Post.

This could be viewed as a positive for a number of oil & gas stocks today:

• Exxon Mobil Corp. (NYSE: XOM)
  
• Halliburton Company (NYSE: HAL)
  
• Schlumberger Limited (NYSE: SLB)
  
• Anadarko Petroleum Corp. (NYSE: APC)
  
• EOG Resources (NYSE: EOG)
  
• Apache (NYSE: APA)
  
• Pioneer Natural Resources Co. (NYSE: PXD)
  
• Berry Petroleum (NYSE: BRY)
  
• Chesapeake Energy (NYSE: CHK)
  
• Devon Energy (NYSE: DVN)
  
• Noble Energy (NYSE: NBL)
  
• Newfield Exploration Co. (NYSE: NFX)
  
• EnCana Corp. (NYSE: ECA)
  
• Cabot Oil & Gas Corporation (NYSE: COG)
  
• EXCO Resources (NYSE: XCO)
  
• Southwestern Energy (NYSE: SWN)
  
• Ultra Petroleum Corp. (NYSE: UPL)
  
• Bill Barrett Corp. (NYSE: BBG)
  
• Plains Exploration & Production (NYSE: PXP)
  
• Quicksilver Resources (NYSE: KWK)
  
• SandRidge Energy (NYSE: SD)
  
• Energy Select Sector SPDR (NYSE: XLE)

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