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Drill Already

National Review by The Editors

Putting a bunch of new oil on the market is a lot more likely to lower prices than is throwing billions of dollars at phantom technologies, as the New ERA plan calls for doing, or slapping oil producers with punitive new taxes.

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Congress will soon consider massive new taxes — roughly $80 billion — on America's oil and natural gas industry, yet this level could produce devastating effects on our economy, all when America can least afford it.

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