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Oil Drilling and Automobile Fuel Economy: The Relative Impact on Oil Prices

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Publication Date:

Publisher(s): Center for Economic and Policy Research

Author(s): Dean Baker; Matthew Sherman

Topic:

Keywords: Oil supply; Energy consumption

Type: Brief

Coverage: United States

Abstract:

This issue brief compares projected savings from drilling in presently restricted offshore zones, savings under the Energy Independence and Security Act of 2007, and the projected savings from the fuel efficiency schedule proposed by Senator Obama. The issue brief projects savings through 2027, the year in which offshore drilling would reach peak capacity.