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Idea#157

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Issues: Domestic »

Oil Drilling

Speaker Pelosi,

The law of supply and demand is the center piece of Economics and a main principal behind the capitalist system. The more scarce a resource becomes, especially with escalating world demand, the more it costs. Why do you not believe that increasing the supply of oil would lower the cost?

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Submitted by jbones0420d 3 years ago

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Comments (4)

  1. jwlevis said:

    How about because it would take nearly a decade for new development in ANWR to actually hit refineries. Also, current US oil resources in restricted areas would only meet 6 months of the current world supply. No analysis has ever shown that completely opening the US to oil drilling would lower gas prices by more than a few pennies. It's a short sighted policy that offers no real benefits except to oil companies, who are already doing very well.

    3 years ago
  2. trouble97018 said:

    Not to mention that the oil companies are sitting on LOTS of oil and gas leases and WILL NOT DRILL. Let them use up the leases they already have!

    3 years ago
  3. halszkac said:

    As the other comments say - plus the real solution is to put those resources we can muster into seeking new sources of energy, not drilling ourselves into a deeper hole.

    3 years ago
  4. bojo1235 said:

    You three simply don't understand. Please listen to Mark Levin.

    Once again I must explain:

    the goal of a business is to make a profit. If their costs exceed their profits,

    they ought to be out of business.

    When a business makes a profit, that is a good thing.

    When they get taxed, we, the American taxpayers, pay those taxes, besides the ones we pay on our

    paycheck.

    Just because it would take a decade (highly questionable) does not mean oil companies should not drill.

    For many years these companies have been in the business of making a profit by drilling and selling, so

    if they think they could make a profit by drilling in some more places, then we should let them. They only

    way they get real benefits, is if they sell enough to us!

    3 years ago