Will drilling here really save any money? The oil companies are still going to try to get as much as the market will bear. Congress will want to add another energy tax to it. I’m thinking we might slow the cost down but I don’t see a drop in prices.
My husband contends that if we start drilling the Saudis will do what they can to lower their prices to discourage us from drilling.
America is awash with energy resources. But we have placed the vast majority of them off limits.
If we begin to drill, and everyone knows that new supplies are in the offing down the line, it will affect the marketplace price of fuel by depressing it.
These would be supplies outside the Cartel’s control.
Price is crucial but even price is not everything. We need to get off foreign oil, for national security sake.
And should have long ago...
Drilling is a “long” term strategy to make us energy independent. That is a National Security Issue. Whether or not it lowers prices in the short term is irrelevant. It will lower prices in the long term and make our country free from the whims of the Hugo Chavez’s and the Middle East. That is what needs to be emphasized.
Even if the prices don't initially drop sharply, I suspect that they will begin to drop more and more with time.
Once the drill bits strike the ground, and the oil is pumped out by the thousands of gallons, you will witness another drop in the price of oil futures.
Just stay on your congress critters and the McCain camp about drilling.
Otherwise, the price of oil futures will only continue to rise as OPEC continues to maintain its grip on our Republic.