I suspect that the bump in popularity from this particular bit of news (providing it turns out to be true) will have a much more favorable effect on President Obama’s poll numbers than the hard-fought health care bill did--and it’s one of those wild things that might actually find significant bipartisan support.

The Obama administration is expected to announce by Wednesday its updated plan for oil and natural gas drilling in U.S. waters, including whether to allow exploration for the first time along the U.S. East Coast.

The plan could pave the way for a significant new domestic source of energy, helping to reduce U.S. dependence on oil imports and boost supplies of natural gas used to displace coal in power plants as the country works to reduce emissions of climate-changing greenhouse gases.

Last month, Interior Secretary Ken Salazar said he wanted to release the updated drilling plan by the end of March.

This is smart politics, though, like former President Clinton co-opting welfare reform. While it could alienate the progressive left (I still know people who refuse to forgive Clinton for welfare reform), it could provide significant cover from attacks from the center and right. Which cover he will use, of course, either to work on immigration reform or a cap-and-trade bill.

Call it a hunch.

But, as is often said, the devil is in the details. Until we know precisely what the proposal is (and what the cost will be--because everything has a cost), it’s too early to start praising this proposal. In politics, as in magic acts, what we see is just an illusion designed to keep us from what’s happening in the background. Keep your eyes on both hands and a tight grip on your wallet.