What makes conservatives think that more drilling will bring down the cost of oil when…?

right now the rise in gas prices is directly attributed to greater profit margins for gasoline refiners, gasoline reserves are in the upper limit of the average range for this time of year, refinery utilization capacity is only 83.4%, the amount of gasoline supplied to the market is increasing at less than the 3.5% growth in GDP (indicating a decline attributable to changes in consumers’ driving habits) and Motor Gasoline Production is declining in spite of an increase in oil reserve stocks.

You think oil and gas companies are going to pull more oil out of the ground just so the can pay to build more facilities to store it, while also getting less of a return on their investment?

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/pdf/highlights.pdf

Also, if Obama is so against oil production, then why did the US Government just approve a new type of offshore oil platform for exploring in the Gulf of Mexico?

http://online.wsj.com/article/BT-CO-20110317-716647.html
Apparently I over-estimated my audience.

Listen up short-butters; there’s a lot more to Supply and Demand for commodities than "More Oil = Price Go Down". If the report that I cited isn’t of use to you because you aren’t able to read and interpret the numbers that’s not my shortcoming.
typo-should have been "short bussers"

9 Responses to “What makes conservatives think that more drilling will bring down the cost of oil when…?”

  1. Hillbilly treason rags Says:

    Because conservatives are ignorant liars.

    Gas prices spiked when the Prudhoe Bay field was brought online during the 1970s.

  2. Growth vs Oil Says:

    Just like a gas tax holiday they already know what you are willing to pay.

  3. Lastname Comma Firstname Says:

    Obviously you never heard of Supply and Demand. What a CEO makes is irrelevant, all of those greedy people could make $0/ year and the price of gas would not change a penny. Please, I beg of you enroll in a ECON 101 at your local community college

  4. Shovel Ready Says:

    You really didn’t buy that supply and demand stuff in economics class, did you? There needs to be a villain in your mind for your mind to be at peace.

  5. ahandle101 Says:

    Increased supply would lower prices due to the costs related to government oversight of the storage of the excess supply. Oh, who am I kidding? The Obama government doesn’t even oversee the drilling much less the storage, as seen by the BP Gulf Coast spill.

  6. bobemac Says:

    Obama sure has you believing his rhetoric and lies. huh…

    and there is still no deep sea off-shore drilling..

  7. Mudmarine Jones Says:

    American oil,dummy.
    We can’t control foreign prices but we can set a fair price for American oil.

  8. Will Says:

    The proof is in the pudding. With the tragedy in Japan and considering how much oil Japan uses. Have you seen the price go down because of the lack of sales to Japan?

  9. Sig Sauer P-239 Says:

    Nice spin, libby!

    Let’s say the price doesn’t go down.
    We still get tons of good high-paying jobs and much more national security. Those things cannot be denied!