The argument that more drilling, fewer regulations will bring down oil price spikes is a tired old story-
The oil industry recycles it for every international crisis, nevertheless; and the media take it seriously (sort of). Once again they are exposed, although simple logic tells us that a strategy that takes years to implement will not impact a short term price jump.
Oil and Gas Industry sitting on 7,200 drilling permits. By Environment & Energy and Environment Daily on March 29, 2011