As I stated above, I am somewhat ignorant concerning the oil reserves available if the ban on offshore drilling was lifted. Chris Shultz, at the Energy Collective, gives a little more insight. It appears that there are around 21 billion gallons of proven oil reserves that would be available.
The US consumes about 21 million barrels of crude oil a day. This is a little over 7.6 billion barrels a year, and that figure will rise as our daily consumption rises.
I still stand by my assessment that we need a long term energy policy which accounts for regional variability in natural resources. These types of plans often smell of political pandering since they have such short term impacts. At least this plan isn't as asinine as repealing the gas tax! Environmental quality should not be sacrificed for short term economic gains.