That's A Penny To You, 62 Cents For Me

clipped from campaignspot.nationalreview.com Besides, very few proponents of offshore drilling believe that this idea alone is the way to reduce gas price. Note that the EIA report cited by the Obama fan says that with offshore drilling, domestic crude oil production would only increase from 2.2 million barrels per day to 2.4 million barrels per day, while the natural gas production increases only 1.8 percent higher than keeping the areas off limits to drilling. Gross’ article states, “eliminating the Congressional ban on exploration and production on the coasts and on federal lands that are currently off limits for exploration would allow for the production of oil and natural gas equivalent to about 3 million barrels per day.”) Also note that Democratic Sen. Chuck Schumer uses the magic math to insist that another million barrels a day from Saudi Arabia would bring the price down by $25 a barrel and 62 cents a gallon, while the exact same amount coming from ANWR would lower prices by a penny.