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Thu Mar 22, 2012, 01:22 AM

U.S. drilling won't lower gas prices, study shows

It's the political cure-all for high gas prices: Drill here, drill now. But more U.S. drilling has not changed how deeply the gas pump drills into your wallet, according to an Associated Press statistical analysis of 36 years of data.

Political rhetoric about the blame over gas prices and the power to change them - whether Republican claims now or Democrats' charges four years ago - is not supported by cold, hard figures. And that's especially true about oil drilling in the United States. More oil production in the United States does not mean consistently lower prices at the pump.

<snip>

When you put the inflation-adjusted price of gas on the same chart as U.S. oil production since 1976, the numbers sometimes go in the same direction, sometimes in opposite directions. If drilling for more oil meant lower prices, the lines on the chart would consistently go in opposite directions. A basic statistical measure of correlation found no link between the two, and outside statistical experts confirmed those calculations.

<snip>

The statistics directly contradict the title of GOP presidential candidate Newt Gingrich's 2008 book "Drill Here, Drill Now, Pay Less," as well as the campaign-trail claims from the GOP presidential candidates.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/21/MNE51NO6PT.DTL

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Reply U.S. drilling won't lower gas prices, study shows (Original post)
Fozzledick Mar 2012 OP
JaneQPublic Mar 2012 #1
apnu Mar 2012 #3
progressoid Mar 2012 #2


Response to JaneQPublic (Reply #1)

Thu Mar 22, 2012, 09:52 AM

3. Thanks! That link is awesome! (nt)

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Response to Fozzledick (Original post)

Thu Mar 22, 2012, 09:28 AM

2. duh.

But that won't stop the RW spin machine.

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