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Will "Spill, Spill, Spill" Derail "Drill, Drill, Drill"?

Fire boats battle a fire at the off shore oil rig Deepwater Horizon April 21, 2010 in the Gulf of Mexico off the coast of Louisiana.
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Fire boats battle a fire at the off shore oil rig Deepwater Horizon April 21, 2010 in the Gulf of Mexico off the coast of Louisiana.

Just weeks after President Obama proposed opening more waters to offshore drilling, an explosion and subsequent leak on a Gulf of Mexico oil rig has brought the issue back to the front page. The Kudlow Report wants to know how the recent spill will impact this already contentious political debate. So, we put the question to The Kudlow Caucus...

Take our poll below and tell us what you think! Watch "The Kudlow Report" tonight at 7pm ET and find out what out caucus members have to say or check back here later for a summary from our caucus members.


The Kudlow Caucus Breakdown

Yes
Jerry BowyerChief Economist, Benchmark Financial Network
It shouldn't, but it will. Because natural leakage is greater than rig leakage and because most of the artificial leaks are from tanker-imported oil, the Kill Drill triumph will give us more oil pollution. Obama never really wanted to drill in the first place, and now he's been given a convenient rationale.

Yes
Andrew B. BuschGlobal Currency and Public Policy Strategist
BMO Capital Markets
There will be Congressional investigations and lawsuits that will deter the President from moving forward on his initiative.

Yes
Kellyanne ConwayCEO and President
the polling company™
Yes, this spill will be the end of drill, drill, drill IF the President does not make it clear that any oil company that spills will bare the entire cost of the spill and any drilling that is done is done with best available control technology. The public is going to be outraged if the tax payers have to foot the bill of this spill. The spill could have been completely avoided using best available control technology. It’s a big if and Obama is unlikely to exhibit this type of leadership because he’s under attack from the environmental base.

No
David P. GoldmanSenior Editor
First Things
Obama has no incentive to do a u-turn on this one. He can ignore pressure from the left of his party and the Republicans will support him on it.

Yes
David GoodfriendLawyer
"Drill baby drill" now spells "suicide" in politics. With any one Senator able to filibuster, and with Senators from both parties populating delegations from Florida to the Carolinas to Maryland, don't expect any new offshore wells.

Yes
Jim LaCampPortfolio Manager, Portfolio Focus, RBC Wealth Management
Co-Host, Opening Bell Radio Show, Biz Radio Network
Due to the size of the spill, it appears that environmentalists will hold sway for at least a year. Beyond that, I think we’ll go back to drill drill drill.

Yes
Art LafferFmr. Reagan Economic Advisor
Chief Investment Officer, Laffer Investments
Yes, yes, yes. That's my guess, guess, guess.

Yes
Donald L. LuskinChief Investment Officer, Trend Macrolytics LLC
Yes it will – but in a way it’s a false question. There was never a “drill drill drill” possibility on the table anyway with this administration, despite their slight posturing to the contrary in an attempt to have it both ways..

Yes
Steve MooreSr. Economics Writer, The Wall Street Journal Editorial Board
The oil spill has been the environmentalists' dream come true. They will exploit the disaster every time drilling comes up. This is a hug setback for energy security.

Yes
Peter Navarro
Business Professor
University of California, Irvine
Yes, this spill will be the end of drill, drill, drill IF the President does not make it clear that any oil company that spills will bare the entire cost of the spill and any drilling that is done is done with best available control technology. The public is going to be outraged if the tax payers have to foot the bill of this spill. The spill could have been completely avoided using best available control technology. It’s a big if and Obama is unlikely to exhibit this type of leadership because he’s under attack from the environmental base.

No
James Pethokoukis
Money & Politics Columnist
Reuters
High oil and energy prices will win out over gruesome pictures of oil-covered animals in the end. Expanded offshore drilling will become a growing part of the US energy portfolio. But there might be more fund for clean energy as a response.

Yes
Mark Walsh
Political Strategist and Campaign Innovator
Yes, of course, but ONLY to those who were against DBD (drill baby drill) before, or on the fence. Those, like Bill Krystol on Fox have already weighed in and said keep DBD, but do it closer to shore. The Gulf spill is a “Rorschach Test” for how you view oil exploration. You will see what you want to see....

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