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US oil industry pushes for expansion of offshore drilling (2:42)

US oil industry pushes for expansion of offshore drilling (2:42)

The U.S. oil industry is seeking to pressure the Obama administration into reconsidering its decision to limit offshore drilling along U.S. coasts - a decision made following the BP oil spill disaster last year. A new study commissioned by the American Petroleum Institute says oil demand in the U.S. will grow by 50 percent by 2035. Without greater access to new offshore wells, the trade group says, U.S. dependence on foreign sources will grow. But as Mil Arcega reports, some argue the solution to America's energy independence is less oil, not more.

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