Bloomberg: President Barack Obamas call to restrict oil exploration on 12 million acres of the Arctic National Wildlife Refuge probably wont have much practical impact for an area already off-limits to drillers, though its created a new fault line with the Republican-led Congress.
The White House on Sunday said it would ask Congress to designate core areas of the 19.8 million-acre refuge as wilderness, including its 1.5 million-acre coastal plain that geologists believe lies atop a rich oil reserve....