Can offshore drilling really make the U.S. oil independent?

Even if U.S. energy policy goes "drill baby drill," there will be no escape from the vicissitudes of the global oil market.

The new leases will drive up the value of oil company stocks because those stocks are valued by the companies' ownership of proven reserves. But, even by 2030, offshore drilling will not have a significant impact on oil prices because oil prices are determined on the global market. The amount of total production anticipated—around 200,000 barrels a day—would be less than 1 percent of the total projected international consumption. --Scientific American reports here.