He is right. There is huge worldwide demand, and most of the supply comes from abroad. As soon as the US increased drilling, the Saudis would probably cut their output slightly to keep the price stable.
You’re correct. This is how they control the price, availability, production of oil. We’re the chumps.
“As soon as the US increased drilling, the Saudis would probably cut their output slightly to keep the price stable.”
True, but at least US money would be staying in country rather then going overseas not to mention more US jobs being created.
Drill, pump, refine and sell only domestically. We legislate/regulate the crap out of everything else, why not energy independence by legislation/regulation?
Exactly. So we would make more money domestically and foreigners would make less.
This is the slap-on-the-forehead obvious fact that the greenies always want us to forget when they keep telling us domestic oil production will not have any effect.
That's only a part of the equation. Drilling will begin to bring some sanity to the US energy situation. Utilizing all our resources will eventually result in the US being self-sustaining in energy. We do not need to continue to utilize power from outside sources. It is a security issue as well as a budget issue.