More U.S. drilling didn't drop gas price

[PA Democrat]

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, math and history show.

A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S. domestic oil production by The Associated Press shows no statistical correlation between how much oil comes out of U.S. wells and the price at the pump.

If more domestic oil drilling worked as politicians say, you'd now be paying about $2 a gallon for gasoline. Instead, you're paying the highest prices ever for March.

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.

http://www.post-gazette.com/stories/news/us/more-us-drilling-didnt-drop-gas-price-627882/

[obxhead]

1. Nationalizing our oil supply would do more than

any amount of new wells will do for oil prices. Even that would do next to nothing to relieve the price of gas though.

Funny how that's never mentioned by the drill baby drill crowd.

[zbdent]

2. "Drill, baby, DRILL!*"

* - this message paid for by the National Petroleum Industry. The speaker has been compensated for his or her endorsement.

[TheKentuckian]

3. One more reason the Reich Wing and "Sensible Centrist" should not ever

be taken seriously.

We knew this to be true the whole way and now they STILL press the same non-solution in hindsight.
What they are is greedy, lying dumbasses who should be sat in the corner for a few decades until they can act with any sense.

We now how much there is, we understand the rate of consumption, and we understand how the market works and yet and still the same moronic answer comes from the whole bunch and even from those who damn well know better such as the President. He knows full well and still bends the fuck over for these mouthbreathing fuckwits and extreme liars.

I'm starting to think the DC definition of credible is bullshitter who is always well beyond wrong and favors dangerous actions with no reasonable return.

[taterguy]

4. You can repeat that truth all you want but people won't believe it

Cheap petrol is too essential to the American way of life.

It'll be too late before we recognize that the era of cheap gas is over.

Domestic taps started running out 40 years ago.

When Carter tried to reduce consumption he was run out of office so no pol will ever try that approach again.

[LucasD]

5. Prices go up...

... U.S. demand drops, refineries close, oil goes overseas, less oil here, demand remains, prices go up.

What a beautiful business model to be in eh? You can't lose money, because you can always keep
prices where you want them.

Oh and...

http://www.crudeoildaily.com/2011/02/us-oil-refining-faces-biggest-shake-up.html