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Great minds: Saudis prove EIA's point

Posted on June 25, 2008

By Joseph RommI am glad that so many in the energy debate have picked up on one of the two messages from my previous post (see EIA to McCain: Drop offshore [drilling] ). But in listening to the radio and TV debates, I realize that some people have the impression that U.S. Energy Information Administration said offshore drilling might eventually lower oil prices. It did not. It found that allowing offshore drilling would have no significant effect on prices as far out into the future as the analysis projected.Why should it lower prices? Offshore drilling is projected by EIA to deliver le...

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