You have a point, but it is not going to allow us to go back to the days of dollar gas, or even $2.50 gas. There is still a lot of oil produced in the US, not enough to fill our needs, but enough to help a little. It would lower prices a great deal if it was sold at the cost of proiduction. And some of our oil is actually exported, because ocean shipping costs are cheaper than pumping or hauling it around CONUS.
When the Norwegians and Brits were pumping North Sea oil, their prices didn't drop, when the North Slope was pumping, our prices didn't drop.
Private enterprise takes big financial risks to explore for and produce oil, when they do find it they are going to charge whatever the market will bear. I'll concede there are valid business justifications for keeping prices high, but the Democrat(sic) Party is not one of them.
Flame » in reply to Well there is the tiny bit of savings from the elimination of tanker freight.
Re: Well there is the tiny bit of savings from the elimination of tanker freight.
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- Obama: U.S. has only 2 percent of world reserves.
