Offshore drilling isn't a short term solution either. Bush tries to make it sound like we could just start pumping tomorrow, and that's absolutely ludicrous. If we STARTED construction tomorrow, the earliest any of them would come on line is 2013, more likely 2015+. Oil rights are big, complex structures and take a long time to build.
Besides which, the amount of oil they would generate is negligible. From the articles I read on this, the consensus seems to be that even if we opened up every square foot of coastline to drilling, the price impact it would have would be about 6 to 10 cents a gallon. 5-10 years from now.
Even if it ere right now, 10cents on $4/gallon is a difference of 2.5%. Do you really feel the risk of mass ecological havoc all over our coasts is worth 2.5%? Accidents ARE inevitable. Just look at what happened a while back in Santa Barbara for one example.
No, we would be far, far better served by sinking every dollar that would have gone into that boondoggle into research and development of non oil based fuels, and thus reducing our NEED for oil. Hell, plant hemp everywhere. The seeds are full of oil, which can be directly processed into biodiesel. The plants can be used for paper, fabric, animal feed, or even treat them like has been discussed with Switchgrass, and ferment it down into ethanol. Far less land/water/etc intensive than corn based ethanol too.
So, in any case, offshore drilling wouldn't help gas prices more than a tiny bit, and that not for going on a decade. All it would really do is further despoil our coasts make the oil companies even more rich.
Edit: From that very NYT article:
a 2007 analysis by the agency concluded that opening up drilling in the moratorium area “would not have a significant impact on domestic crude oil and natural gas production or prices before 2030.”
Even the guy working as a consultant for the oil companies admitted it would be at LEAST 6-7 years before any appreciable amount was pumped out of the ground, even if we started today. I don't see why anyone should even think of kowtowing to Big Oil on this one. Offshore drilling will not help in the short or even mid term. I would hope that by 22 years from now in 2030, we would have finished our transition away from being so utterly oil dependent and onto new, sustainable technologies, and thus wouldn't need the oil anyway.
Again, not just no, but HELL no.
-Arlos