Would gas prices come down if we allowed all the additional oil drilling that the neo-cons want?
Actually it would make the rich richer-it is such a small amount it would no affect the world market-which dictates the price of gas-
Actually it would make the rich richer-it is such a small amount it would no affect the world market-which dictates the price of gas-
August 1st, 2009 at 11:00 pm
No. The US doesn’t have enough refinery capacity to make more gas even with more oil. Seems people want cheap gas but don’t want a dirty refinery nearby.
We have actually lost refinery capacity since the 70’s even though we have more people, more cars, and drive more miles.
August 1st, 2009 at 11:00 pm
You’re right, but you miss a key point about current oil prices.
American refineries aren’t operating at full capacity. The oil companies could be producing more, thus increasing supply and lowering prices, but they prefer to keep it at current levels, becaus they can earn record profits that way.
August 1st, 2009 at 11:00 pm
OPEC has a large influence on prices by determining the output. If we stopped buying it, prices would decrease. Oil is the past, we need a different source of energy. The population keeps increasing and our oil supply is finite.
August 1st, 2009 at 11:00 pm
To answer your question;
It would save the money we send overseas for oil currently that is for sure. If we got 1 million barrels of oil per day from ANWR America would save 100 million dollars per day in payments currently sent overseas. But we need to build more refineries to convert the oil to gasoline, that will lower the price of gas in America. Right now refineries are running at capacity and its not enough.
August 1st, 2009 at 11:00 pm
My thoughts are… gas prices will never come down no matter what you do. It’s basic economics. People in the market for gas have already proved that they are willing to spend this much on gas so why would the producers bring the price down?? Once the market hits the price that consumers are no longer will to pay (and who knows what that will actually be) then it will regulate itself and stay at that price where the the most people are will to pay the highest price.
August 1st, 2009 at 11:00 pm
Well I think your info is flawed . New technologies allow for safe drilling AND the capability to reach previously difficult to reach oil .
Then ask yourself 2 things –
Should we not do everything we can to support ourselves ?
AND
When’s the last time a U.S. land-based oil drilling operation had a major spill ? Hmmmmmm ?
August 1st, 2009 at 11:00 pm
no it wouldn’t.the purpose of what you sadly missed was to have more access and to loose the grip of foreign oil.we don’t have the refining capacity because they voted that down also.
August 1st, 2009 at 11:00 pm
Yes they would come down significantly. There are millions upon millions of gallons of oil just sitting there in ANWR, but the left-wing liberal environmentalists are blocking any development of the region because a few elk might lose their homes.
If the Libs don’t want to drill in the US, don’t whine about high gas prices!!
August 1st, 2009 at 11:00 pm
Well now that our congressmen and senators have passed the bill to tax the oil companies, our gas prices will rise dramatically along with food and everything else. You just watch. Yes I do believe we (the USA) should be able to drill on our lands and seas. It is going to be YEARS to get this country OFF so called oil. Even then, we WILL need oil to make ethanol and such. Furthermore, I do believe we are going "too fast" with so called remedies. Some of these remedies such as ethanol will be far worse for the environment than the former. This stuff needs to be looked at. I strongly believe, we will no longer be lining the pockets of the "oil companies", we WILL BE LINING THE POCKETS of the "Al Gore’s" and the like.
August 1st, 2009 at 11:00 pm
No. The reserves in Alaska are not that big plus it is not the US market that dictates world oil prices.
August 1st, 2009 at 11:00 pm
No…..and it has nothing to do with making the ‘rich richer’…it has to do with the current lack of investment that the established oil refineries are making in their own backyards or with their current drilling practices. They could easily increase production and bring prices down, but they chose not to. It would seem to me that they want to deplete the oil of OPEC nations until they are left with nothing…and save our oil so that later down the road they can turn the tables on OPEC and force them to pay outrageous prices because we will have the only oil available.
August 1st, 2009 at 11:00 pm
ofcourse it would. We have more shale oil in this country than ALL the oil in Arabia. this is not a neo con thought though, this is a SANE thought
August 1st, 2009 at 11:00 pm
Gas prices likely would not go down, because oil is short in supply. But it would slow down inflation and debt for a time.