20 Experts Who Say Drilling Won't Lower Gas Prices

[Bill USA]

3. I guess I'll have to disabuse you of some faulty thinking. You are saying that if changes in oil

production in the U.S. don't have any affect on gasoline prices that that means we could cap all the wells currently producing oil - taking our production to zero - and this would not have any affect on oil/gasoline prices. This of course is obvious nonsense.

The article is talking about increases or decreases to our total oil production. You are then equating that with stopping ALL production and saying that stopping ALL production would not have any affect on prices. The two are not the same. We produce about 11% of the total world's crude oil production so capping all producing wells and stopping all production in a short period of time, would have an impact on prices.

When we increase our oil production we do not double it in the short term or reduce it to zero. Our ability to change the level of oil production is not that great. It takes years to increase oil production just a few percentage points.