Jeff Johnson
The Department of Energy estimates that it would take more than 20 years for either production levels or prices to be affected by a repeal of the ban on offshore drilling. Because the amount of oil at stake is so tiny (about 19 billion barrels, equivalent to around seven months of global consumption), it won't do much at all to ease jitters or help deflate a bubble in oil markets.
energy drilling oil offshore McCain politics Bush 2008
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