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Detailed text transcripts for TV channel - CNN - 20100331:17:08:00

Than 125 miles or closer to 125 miles to shore because that way nobody can see it from shore. there are benefits and disadvantages. people who agree with it and people who don t agree with it. we re going to look at those. the richest area that is going to be opened is here though in the eastern gulf of mexico. about 3 1/2 billion barrels of reserves are probably in that area. now, there are two parts to the president s announcements. one is increasing oil production, domestic oil production. we reduce our dependence on oil from elsewhere in the world. the other one is conservation. here s what the president is also pro poeszing. increased use of biofuels in military vehicles. he made this announcement at a military base. also, purchasing 5,000 hybrid vehicles for military fleet. and increasing fuel-efficiency standards for new cars. we re going to hear more about this tomorrow. you probably saw poppy harlow at the chevy auto show looking at the volt and nissan leaf ....

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Detailed text transcripts for TV channel - CNN - 20100331:18:06:00

It s like the days when oil was $140 bucks a barrel, and we probably don t watch it as much as we should. you probably remember this trusty oil barrel that has been part of my life for a long time. this is what oil settled at $82.37. why does it have people concerned? well, because we re in a tough economy right now. a lot of people aren t working. a lot of people aren t driving. they ve changed to smaller cars. why is oil that expensive even when the economy is how it is? well, that has led the president to announce something that seems to some people like a bit of a turnaround, particularly of democratic policy. the idea that he will allow offshore oil drilling in areas that have not, until now, been used for offshore oil drilling. i ll explain it to you. but, first, listen to the president in his own words the bottom line is this, given our energy needs, in order to sustain economic growth and produce jobs and keep our businesses competitive, we are going to need to harness tr ....

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