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Domestic Drilling Doesn't Decrease Gasoline Prices
eldavojohn writes "As the political rhetoric heats up, there's something puzzling about drilling inside the United States. Essentially, it doesn't reduce what we pay at the pump. From the article, 'A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S. domestic oil production by The Associated Press shows no statistical correlation between how much oil comes out of U.S. wells and the price at the pump.' If the promises that politicians made when they opened U.S. drilling were true, then we should be paying about $2 a gallon now. Instead it's $4 a gallon. Minnesota Public Radio pulls some choice quotes from both parties and wonders why this decades-old empirical observation goes seemingly completely unnoticed."
Here is an example for you.
You think the price of gas is going up before a holiday so you rush over to the gas station a few days in advance and fill up your car and an extra gas can to avoid the higher price. You are actually speculating.
So that should be illegal right? Oh wait you mean when the "other guy" does it because he is just being evil and trying make money off of it and only when he buys a whole bunch of gas! Like say a farmer or a businessman or an airline......
Oh wait you mean those really bad "other guys" buying and selling futures in the stock market. Those evil jerks drive up the prices right? So now the regional distributor has no fuel to carry your city through said holiday because he can only buy fuel when it's his turn at the set low price and when you go to fill up your car at the gas station they have no gas................Starting to get the idea yet?
The President or Congress or some beurocrat in Washing would get to pick when you get fuel for your city based on it's need, and since you and your city didn't vote for them in the last election (or pay bribes) they choose to put you very low on the waiting list for that wonderful cheap fuel. See isn't central planning fun!!
You need to go take a couple a couple of economics classes and I don't know maybe read a little history from the WW1 & WW2 and about the fuel shortages during the 70's to find out that price fixing and rationing does not work......ever
Come back when you head has a little more content in it and maybe then you can have a valid opinion.
Yeah, supply and demand doesn't effect the law of supply and demand. I call bullshit on this. If it doesn't then why is Obama giving speeches about how drilling is increased under him. You libtards can't have it both ways. You can't say drilling won't help, and in the same breath say you are drilling all you can, especially when defying a court order to re-open drilling in the gulf, and blocking a pipeline. This site is supposed to be about tech. But, if we want to turn it into stupid political oneupsmanship then we can do that. Liberals, the all powerful government can solve every problem except gas prices/food prices.