If speculation drives oil prices, how does “drill here, drill now” assure cheaper gas?

Speculators know that we can only increase the oil supply by 1% in several years, a drop in the bucket, and demand will exceed that.

7 Responses to “If speculation drives oil prices, how does “drill here, drill now” assure cheaper gas?”

  1. avail_skillz Says:

    It doesn’t, it is a scam so oil companies can boost futures contracts and sell them before the price goes back to 70 a barrel when the value of the dollar comes back up.
    This way they’ll already have the oil sold at 100+ a barrel and delivering it when the price is $70.

  2. ~Haunted~ Says:

    it does nothing but it sure sounds good at a convention

    Drill Baby Drill Git R done ! yeehaw

  3. Chi Guy Says:

    You KNOW that logic and intelligence is a waste of time on neocons. They only believe what Fox News allows them to.

    Neocons are the epitome of hypocrisy and contradiction.

    Look at some of the responses. They STILL belive that oil pulled from US soil belongs to the USA and not the world market. Why? Because Fox News told them so. Didn’t I tell you?

  4. The Lady Says:

    It doesn’t assure cheaper gas, it only insures that we are less reliant upon foreign oil, new and better fuels are a much better way to get there.

  5. DukeofDixie Says:

    I think we should just stick our head in the sand, why do anything, not drilling , is like not saving for retirement or like going to your neighbor to buy water because you refuse to drink your own water

  6. getmeouttahere Says:

    It doesn’t, it is just something easy to say to get conservative votes.

  7. Mephisto Says:

    Now you are assuming that just ‘because’ someone will drill here today, it will not drive prices down.

    Presuming that we start drilling, the question remains, can it be refined with the refineries in use or is there a need to build more refineries.