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?
Comments (4)
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.
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!
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.
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!