Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFACT CHECK: More US drilling didn't drop gas price
FACT CHECK: More US drilling didn't drop gas priceBy SETH BORENSTEIN and JACK GILLUM
Associated Press
March 21, 2012
WASHINGTON -- It's the political cure-all for high gas prices: Drill here, drill now. But more U.S. drilling has not changed how deeply the gas pump drills into your wallet, math and history show.
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 more domestic oil drilling worked as politicians say, you'd now be paying about $2 a gallon for gasoline. Instead, you're paying the highest prices ever for March.
Sometimes prices increase as American drilling ramps up. That's what has happened in the past three years. Since February 2009, U.S. oil production has increased 15 percent when seasonally adjusted. Prices in those three years went from $2.07 per gallon to $3.58. It was a case of drilling more and paying much more.
Read the full article at:
http://www.kansascity.com/2012/03/21/3504160/fact-check-more-us-drilling-didnt.html
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 1303 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (14)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
FACT CHECK: More US drilling didn't drop gas price (Original Post)
Better Believe It
Mar 2012
OP
mindwalker_i
(4,407 posts)1. Prices didn't go down becuase..
There were too many regulations,
Oh, reducing regulations didn't help?
Well then prices didn't go down because they didn't get to drill in ANWR,
Or because there isn't a big hose to the tar sands,
Or because people are mean to oil execs,
And didn't give them another tax break,
Or because nobody offered to blow then,
Or because the sky is still blue and there wasn't a bill passed to paint it orange,
Or because there isn't a big statue of Grover Norquist,
Maybe because Obama hasn't released his birth certificate (enough)...
There will always be something.
usregimechange
(18,373 posts)2. Gives new meaning to "drill baby drill" right into your wallet
badtoworse
(5,957 posts)3. It has certainly lowered the price of natural gas
I heard today that the cash price dipped below $2 per MCF recently. That is very cheap.