Oil is a globally traded commodity. Meaning all of the production and demand globally determine the price point of a barrel of sweet crude. If the US produced 1% more oil in 5-6 years, which they could, it COULD influence gas prices by 1%.
Except then OPEC would produce 1% less oil in order to maintain prices as is. Domestic drilling to save money is a lie. You CANNOT lower gas prices by drilling anywhere. The only thing you can do is affect global supply and that is only if OPEC and other oil conglomerates allow you to change supply, which they would not.
GET OVER drill baby drill. Oil prices and gas prices have NOTHING to do with where oil is obtained or produced. It is ALWAYS sold on the global market even if it comes right out of your back yard, it is instantly NOT AMERICAN if you choose to sell it, which is all anyone does with it.
That being said drilling more would produce a few thousand more jobs while barely destroying too much of our environment, given that you believe destruction of the environment is ok so that billionaires can make more billions with no gain for any of us.
Oh, by the way, if you think you can get 75 cent gas like the Saudis you are right. You just have to live in something other than a free market or a democracy. The Saudis require oil producers to GIFT the oil and gas they sell to the nation from state owned gas stations.
ReplyDeleteIn the good ole US of A, we would call that HYPER socialism; forcing companies to give up their bounty to the state.
Republicans are just outright lying about domestic drilling.