How would you then explain that there were 562 more rigs drilling for oil & gas in the United States last week then there were the same week of December a year ago in 2009?
Yes, oil prices are up and due to that fact, domestic drilling has increased.
However, if you want cheap oil, you will have to hope that oil prices crash and that would result in there being no additional drilling in the US.
So, what would you like?
Cheap foreign oil?
Or
Expensive domestic oil?
And the fact of the matter is that there in no such thing as Cheap Domestic Oil.
And when oil hits $125.00 a barrel we will be drilling like crazy here in the USA!
“And when oil hits $125.00 a barrel we will be drilling like crazy here in the USA!”
Only when and where big government permits.
Does it occur to anyone we should be tapping the oil field in the Gulf where the accident occurred earlier in the year? We know there is a plentiful supply. Obama will never allow it.
WRONG!
Taxes/FEEs/Regulations are to high in the US for the oil companies!
Take them off and watch the gasoline prices drop by $2 a gallon!!
$.60 plus cents at the pump for taxes!