President Bush Urges Congress To Lift Ban On Offshore Drilling
Amid a climate of $4+ gasoline, President Bush states that "Families across the country are looking to Washington for a response,". Bush stated that offshore drilling could produce over 18 billion barrels of crude oil.
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Gasoline Inventories Decline
The Energy Department reports that gasoline supplies fell 1.2 million barrels last week. Analysts were forecasting an increase of 1 million barrels.
Crude oil is currently trading down 15 cents at $133.86 a barrel.
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