In Miami, Obama Goes Full Bore on Gulf Oil and Gas Drilling

What a difference a rise in pump prices makes.

Speaking at the University of Miami on Thursday, President Barack Obama boasted of an agreement with Mexico that will open an additional 1.5 million acres in the Gulf for oil and gas exploration.

This from a president who imposed a moratorium on offshore drilling a year ago.

But this being an election year -- and the price of gasoline nearly doubling under his tenure -- Obama is now chanting "Drill, Baby, Drill" like a Texas oil baron ... or Sarah Palin.

Obama said the new tracts in the Gulf contain an estimated 172 million barrels of oil and 304 billion cubic feet of natural gas.

Welcome back, BP.
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