Posted on 03/10/2022 10:08:08 AM PST by ChicagoConservative27
(CNN)As US oil and gasoline prices skyrocket, politicians in both parties have called for a seemingly easy solution: Drill our way out of the problem to ease prices at the pump and supply additional energy to Europe.
"The president must end his war on American energy," Republican Sen. John Barrasso of Wyoming said in a recent statement. "Republicans have been demanding the administration take the shackles off American energy producers since President Biden took office. We have the energy at home and we must use it."
But the US is already the world's top producer of crude oil, producing about 11.6 million barrels of oil per day as of December -- and that supply is increasing, energy experts told CNN. The country is also the world's largest consumer of oil, using about 21 million barrels per day in 2019 -- 20% of the world's total.
(Excerpt) Read more at cnn.com ...
The more supply, the lower the price.
Any idiot can figure that out, but our Anti-American left is comprised of persons, each of which is not just any idiot.
Why breathing won’t help you live- CNN
The law of supply and demand has been revoked?
Yup. Using the resources under your feet and processing them is never the answer is it. OMG!!!!!! The stoopid is physically painful.
The price of gasoline in Saudi Arabia is $2.18 to $2.30 a gallon. Why is that CNN? Apparently CNN does not believe in supply and demand.
Of course there’s no easy solution. It took a long, long, time for the Green Weenies to dig us into this hole. But that is not an argument to keep digging.
Cock-a-doodle Non News.
CNN is right, we have to kick out all of the Democrats as well.
Stop posting these liberal opinion columns.
I understand gas prices are based on ‘future’ projections....so we can start producing now and prices would fall down the road.
Aren’t we the worlds number one user also?
The trend is the key—if markets see a trend of increasing supply the futures markets will react.
Oil is fungible: an increase in supply anywhere in the world will decrease prices. That’s why the administration is begging dictatorships like Iran and Venezuela for more oil. The only one they haven’t tapped is Canidastan
cnn lies about everything and yet so many useful idiots believe every word.
Supply and Demand laws do not apply to climate change.
So says the Communist News Network that knows NOTHING about fundamental economics.
It’s a brave new world...
“The more supply, the lower the price.”
That is the old way of thinking. It is outdated. Now we know the new truth that printing gazillions of dollars is not inflationary, and increasing the supply will not lower the price. And global warning is our worst enemy and it makes China a dear friend. And you are a racist if you don’t accept this.
drilling our own oil wont work cuz global warming
doncha know
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