Saudi officials have consistently said the country would provide enough oil to supply the market. The kingdom announced a 300,000 barrel per day production increase in May and said before the start of the Jiddah meeting that it would add another 200,000 barrels per day in July, raising total daily output to 9.7 million barrels.
Saudi Arabia said it will boost oil production, but experts say it falls short of lower US gas prices

Oil shale in Colorado, Utah and Wyoming could yield 800 billion barrels of oil for the global market. That is more than the proven reserves of Saudi Arabia and certainly enough to help drive down gas prices in America. But political posturing has prevented us from even beginning to plan how we can utilize this resource.
Skewed logic over oil shale - The Denver Post

The federal government estimates the nation's outer continental shelf might hold 85.9 billion barrels of crude, including 10.13 billion barrels off California. For comparison, the United States consumes about 7.56 billion barrels of oil per year. The nation's sea floor also could hold 419.9 trillion cubic feet of natural gas, equal to U.S. consumption for 14 1/2 years. But the federal estimates are just that - estimates.
The lowdown on offshore oil reserves

What more can be said? The numbers speak for themselves......

Have a good one!:s4:
Psycho4Bud Reviewed by Psycho4Bud on . McCain credits Bush for drop in oil price Republican John McCain on Wednesday credited the recent $10-a-barrel drop in the price of oil to President Bush's lifting of a presidential ban on offshore drilling, an action he has been advocating in his presidential campaign. The cost of oil and gasoline is "on everybody's mind in this room," McCain told a town-hall meeting. He criticized Democratic rival Barack Obama for opposing drilling on the Outer Continental Shelf. Bush recently lifted the executive order banning offshore Rating: 5