Sensibly Averting the "Policy Reaction Disaster"

I highlighted Obama really bad calculus with this drilling moratorium a few days ago. Today, the WSJ gets down into the weeds on just how bad a decision this could potentially be. Fortunately, it is fairly obvious blunder that even the Obama people can see and Ken Salazar is already walking this one back. The motive for the walk back could be rational and policy-driven or it could be politically driven - the impact of a lasting moratorium would have been a disaster for the economy and for Obama. I'll give him the benefit of the doubt and chalk this up to good decsion-making.

UPDATE: A little extra color: the oil that we don't produce has to come from somewhere. Right now the only folks with any spare capacity to speak of are the Saudis, and they just don't turn on the spigots. You have to pay them some mind. Obama doesn't want that, nor should he.