Here is a good article from Mother Jones, which follows its recent issue focusing on energy. The article discusses how allowing off shore oil drilling as proposed by McCain will have virtully no impact on oil prices:
http://www.motherjones.com/mojoblog/archives/2008/06/8708_mccain_on_off_s.html"At America's current consumption rates (20.8 million barrels of oil per day), the oil resources made available from lifting the moratorium would last this country less than two and a half years.
This shouldn't come as a surprise. The United States has just 3 percent of the world's oil reserves but consumes 25 percent of the world's oil. It should be clear we're not going to get out of this problem on the backs of our own oil rigs. Temporary solutions such as lifting the moratorium and drilling in the Arctic National Wildlife Refuge (which McCain opposes) only bolsters the illusion that America's long-term energy problems can be solved through achieving fossil fuel-based energy independence. That's a pernicious myth, and one that inhibits real progress."