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.
Whoever adds more product WILL lower the price given demand and all else remaining the same. It doesn't matter if its the US or Russia, added supply lowers the price.
However that is NOT the same for the price of gasoline. You have to separate the two. Oil is a world priced commodity. Gasoline is tied to the wholesale price of that product AND the cost of crude oil. For example, the price of unleaded on Monday settled at just under $3 per gallon.
So, you can't compare gasoline and crude in the same way.
