I disagree with this decision. Oil exploration isn't the evil boogeyman that that the wackos have created in the minds of the public, especially in the states of Florida and California. It's a lie, supported by those with an anti-growth, anti-logic agenda.
On the other hand, we're not talking about world-class reserves, and it would have, by itself, no significant impact on daily domestic production. I'm in the oil industry and there are even some places that I don't think should be drilled. Arlington Cemetary, for example, LOL.
The problem here isn't really the loss of production. It's the reinforcement of the idea that energy production is incompatible with responsible protection of the environment. That is simply wrong.