[krek-sikUp]

Stossel is doing an hour special on oil right now on FNC...

He'll be showing an interview with Palin shortly.

They already discussed what I've been telling everyone for years. That you can't change world supply significantly by opening up drilling in the USA. If geologists are correct, federla lands and offshore areas could produce an additional 1 million barrels of oil a day, in a world where we consume 88 million barrels a day.

That's a 1.1% increase in global supply. So, if you're paying $3.50 a gallon for gas now, perhaps that would get your gas all the way down to $3.46 a gallon...





Disclaimer: I support more domestic production. But I want everyone to know that it won't drop the price of oil in any meaningful way.