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More Drilling Won't Lower Gas Prices: Soaring Domestic Production Has Failed to Ease Pain at the Pump


Green Lifestyle  (tags: environment, energy, protection )

Cher
- 597 days ago - livinggreenmag.com
In an introductory economics class, the first thing the teacher sketches out on the blackboard is a strikingly simplistic graph: two curves making a swooping "X" between the two axes--the economic model of supply and demand.



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Comments

David C. (29)
Sunday January 27, 2013, 7:49 am
You know I do so wish the the US had to pay the same money for their gas at the pump as we do in the UK.
 

Kit B. (276)
Sunday January 27, 2013, 9:50 am

I agree with you David. We live in false world of cheap gasoline and heavy abuse of the use of cars. When people do not understand basic economics they assume that the price of gasoline is determined by the president, and even logic will not convince them otherwise. Everyone needs to read this article.
 

Allan Yorkowitz (452)
Sunday January 27, 2013, 10:15 am
Even with the over produced amount of oil we currently have, it does not mean a darn thing at the pump.
 

Past Member (0)
Sunday January 27, 2013, 1:17 pm
"Greed" is the name of the game for 'corporate amerika'!
 

Lois Jordan (55)
Sunday January 27, 2013, 2:33 pm
Noted. I didn't see where the article explained how oil speculators "fix" prices, or anything regarding the massive subsidies they're receiving on top of tax breaks and loopholes. The Quants on Wall St. are more than happy to display their massive greed in this area.
 

Natalie V. (27)
Sunday January 27, 2013, 3:07 pm
noted, thanks
 

. (0)
Sunday January 27, 2013, 3:25 pm
The only things that change prices are hearsay and fairy tales.
 

Penny C. (79)
Sunday January 27, 2013, 3:33 pm
Noted.
 

Michael M. (5)
Sunday January 27, 2013, 5:09 pm
Well duh! Big demand for energy around the world is what is keeping the prices high. That is something stupid people of the "drill, baby, drill" crowd just simply do NOT understand basic supply and demand capitalism.

And no, stupid t-baggers, even Saudi Arabia has high energy prices except they socialize a vast majority of the energy prices the common people pay. You RWNJ's do not like socialism right?

And you DO know what will happen if the prices drops too much? Same thing the natural gas companies do: Shut down production until prices goes back up. OPEC does the same thing too.
 

Nancy Crouse (5)
Sunday January 27, 2013, 9:52 pm
Money money money. They want more... greed, self gratification, delusional, self-absorbed, immoral, soleless. Stop the insanity someone please!
 

Colleen L. (2)
Sunday January 27, 2013, 9:59 pm
I wish all of these money hungry drill crazy villians would vanish or fall deep down into a big hole and never come back again. Thanks Cher
 

Lloyd H. (46)
Monday January 28, 2013, 6:32 am
Fact is that supply and demand has not been a realistic model for pricing crude oil prices for decades. The biggest American insanity, aside from the belief that Americans pay real prices at the pump, is the concept of American Oil. You know the morons that actually believe that Oil, Natural Gas, et alia that comes out of wells, mines etc. on American soil are US owned and traded on the US markets only. There are far to many that are simply to stupid to grasp the fact that once a well is drilled every thing it will produce is instantly on the World Market subject to the same profiteering and speculation as every other barrel produced anywhere in the world. There is no such thing as American Oil and "Drill Baby Drill" is a bumper sticker slogan written by Oil Company puppets to delude the simple minded in to stupid actions that affect nothing, except Corporate Profits and Campaign donations never the price at the pump.
 

Rhonda Maness (602)
Monday January 28, 2013, 11:11 am
Thanks Cher
 

Carol H. (229)
Monday January 28, 2013, 4:16 pm
noted, thanks
 
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