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Atlantic ocean, and the eastern gulf of mexico, smaller area, but possibly the richest in terms of oil. it's thought to old about 3.5 billion barrels of oil. let me now show you the conservation side of it. this is increasing domestic energy production, he also wants to talk about conservation. he made the announcement at a military base and he's talking about the increamsed use of biofuels in military vehicles, purchasing 5,000 hybrid vehicles for government use and increasing the fuel-efficiency standards for new cars. tomorrow, by the way, the federal government will enact new fuel effi...

Save taxpayers money, promote efficiency and conservation. that is the single best thing we can do when we're talking about the oil industry, to stimulate the economy. giveaways to an industry that is the most profitable industry in the mhistory of the world doesnt help the economy. forcing drivers to pay more money at the gas pump doesn't help the economy. the best thing we can do is promote efficiency and increase vehicle standards. >> again no, disagreement except that why wouldn't drilling for more oil bring down the price of gasoline? it's a supply and demand issue. if there's more oil ou...

Seconds. listen to this. >> $75, and that's probably will last me about three or four days. that's ridiculous. gas prices is ridiculous. >> and we will drill here. we'll drill now. and this is a matter of national security and energy independence and economic prosperity. drill, baby, drill. >> believe me, if i thought there was any evidence at all that drilling could save people money who are struggling to fill up their gas tanks by this summer or this year or even the next few years, i would consider it. but it won't. and john mccain knows that. >> that's the kind of campaign that senator oba...

Henry? more now on president obama's plan to open vast areas to oil and natural gas drilling. the plan the president announced would open about 167 million acres over the atlantic ocean, from delaware to central florida, also opening some parts in northern alaska. you can see that on the right of your screen. we've moved alaska to the right. it is not a fast-track deal. it will be years. the interior department, which has to study the conditions and then they lease it out to oil companies, president obama argues that this is needed to help end america's addiction to foreign oil. so, it's a t...

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