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Monday
Jul112011

API CEO: Leases To Drill For Oil Do Not Necessarily Mean Oil Is Found

AuthorStaff DateMonday, July 11, 2011 at 12:07PM

American Petroleum Institute CEO Jack Gerard tells reporters during a conference call Monday that when oil compaines buy leases, it does not mean that there is oil, and compared the process to buying a fishing permit but not knowing whether there are any fish. (1:00)

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