"On Wednesday night’s “Hannity and Colmes”, Karl Rove disputed my statement that the Energy Information Administration has claimed that drilling for oil would not reduce prices."

http://liberalland.com/2008/08/07/official-government-statistics-corroborate-that-drilling-wont-reduce-oil-prices/

(watch video) http://www.youtube.com/watch?v=Scz2aDnX7VU

Think Progress goes into more detail than time allowed on the TV show. Here is what the EIA, which provides offical administration statistics, says:

http://thinkprogress.org/2008/08/07/rove-eia-oil-prices/