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The ban is lifted on offshore drilling...So where are all the republicans at? Are they running to the shores with shovel in hand or what? Oh yeah, nobody has made a single move to even begin drilling... Urgent, right?
They lifted the ban and IMMEDIATELY the price of gas went down because the SUPPLY went up, the fact that they have not pulled anything out of the ground did not stop the price of fuel to go down because the supply is AVAILABLE. It did not take 2 years, it did not take 10 years, or 15.. The price is going down NOW.
More record oil profits last quarter. How long do you think they are going to allow the price of gas to drop? Oh wait...since the price of gas is not dropping at the same rate as oil then I guess they are still making out. No matter. McCain or Obama will save us
This is trickle up economics at its finest. Reagan had it right, but it trickled up instead of down. I believe Obama can reverse the flow of some of that money by taxing those profits reasonably and reducing taxes on middle and lower class Americans.
They lifted the ban and IMMEDIATELY the price of gas went down because the SUPPLY went up, the fact that they have not pulled anything out of the ground did not stop the price of fuel to go down because the supply is AVAILABLE. It did not take 2 years, it did not take 10 years, or 15.. The price is going down NOW.
That is not why the price of gas has dropped...why don't you provide a link that indicates your info.
Prices are NOT up, they have started going down. I think its suspicious that they dont go down as fast as they go up, but your info is wrong that prices are going up.
They just started reporting that in year to year comparisons by month, total miles driven is down big...and sure enough, prices are starting to drop under $4. Facts please...not emotion.
Isn't it interesing that prices are going down just before the election? I believe they want us to elect McCain, and the oil companies will raise prices after the election whoever is elected.
"That's because, along with falling global crude-oil prices, the refining capacity of the U.S.'s Gulf Coast that was lost as a result of Hurricanes Ike and Gustav is coming back onstream, which will mean a significant increase in gas supply next month."
THere taxes would rise a from 35% to 39%...and they would lose their tax breaks and subsidies...I think they make enough money to survive. Those tax breaks and subsidies can be used to investigate alternative fuel options...something that they do not do. Because they know it will put them out of business. They dominate our lives and it is time to stop and go the other way. Drilling for more oil is not a permanant solution. It is a band aid that might lower our price at the pump by a nickle...and that won't even happen for several years.
They lifted the ban and IMMEDIATELY the price of gas went down because the SUPPLY went up, the fact that they have not pulled anything out of the ground did not stop the price of fuel to go down because the supply is AVAILABLE. It did not take 2 years, it did not take 10 years, or 15.. The price is going down NOW.
The first part is due to speculation which controls the price of oil per barrel oddly enough.
The continued drop is not because of lifting the ban however. The continued drop is because we are in a recession despite the fact that the WH still cannot admit we're in a full blown recession and not just a 'some states' are in a recession.
Danielle is right about drilling. The funny thing about all the drill, drill, drill is that the oil companies have had drilling & speculating rights all over the place in large quantities. But for whatever reason they haven't been exercising those rights. Even during the discussion of whether to lift the ban or not they could have been drilling in new places they have as yet left untouched but no.
I don't know about anyone else but I find it really freaking interesting, and wrong, that the oil companies post all these big profits yet WE, the taxpayer, pay for all their old wells that have dried up. Meaning they are subsidized every quarter/year for those old no longer producing wells. Why we do that is beyond me and maybe if we didn't they'd be forced to do a little more drilling. As it stands why put out all that high cost expenditure when they can instead continue to make money off that dead well as if it were still alive.
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