Krugman on Oil Drilling and McCain

01Aug08

Paul Krugman gives a nice synopsis of the problems with McCain’s push for oil drilling as a solution to higher gas prices. The money quote:

… the U.S. government’s own Energy Information Administration says that removing restrictions on offshore drilling wouldn’t lead to any additional domestic oil production until 2017, and that even at its peak the extra production would have an “insignificant” impact on oil prices.

I’d like to see the Energy Administration source he is quoting. I guess I’ll google it later.

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