Now we can talk for days (and I�m sure we will, because people here are just incapable to sticking to the subject) about why we should drill domestically for oil.
But I would like to keep this discussion focused on domestic drilling and how it lowers the price of oil or gas at the pump. The intent is to bust the myths associated with this subject.
Of course it doesn't have anything to do with the price of oil if you believe the price is controlled by a vast conspiracy. Is that your position?
Not at all, I don�t go for conspiracies in general. Oil is a worldwide commodity and the price is set on a worldwide market. If the US drilled EVERY LAST known reserve, we could change our imports by about 9%. Now that actually WOULD make a change in oil prices, but the change would be very small.
Jorge mentions something about the US having only 3% of world reserves. Not sure where that came from, but that�s complete BS. The US has a whole lot more oil than that, but not enough to change the world supply/demand situation. US oil production peaked in 1971 and has decreased every year since; that�s the fact. If we drilled EVERYTHING, we could spike up, but NEVER anywhere near where we were in 1969.
Hey, I�m ALL FOR domestic drilling, but to think it will change the supply/demand situation is just wrong, it wont.
