The great American drilling boom is over.
The number of oil and gas rigs deployed to tap new energy supplies across the country has plunged to less than 1,200 from 2,400 last summer, and energy executives say the drop is accelerating further.
And yet all we heard last fall were the gimmicky chants of drill baby, drill! Even Sarah Palin deigned to "correct" future VP Biden in her one and only shot at coming across as a serious candidate.
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As Oil and Gas Prices Plunge, a Frenzy of Drilling Ends
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