A bold announcement on offshore drilling brings little relief to drivers
Gas prices are still soaring, pressuring President Bush to lift an executive ban on offshore drilling. The action has no practical effect unless Congress follows suit, but the political payoff is clear: the president says drilling will increase domestic oil production and help drive down prices ? Congress is holding it up. Where else is there oil to be had? Guest: Carola Hoyos, chief energy correspondent at the Financial Times, based in London
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