Now that Bush has made his official announcement to 'let all drill' I wonder when the US and global markets will be able to reap rewards from that. Who is caring about the environment now eh?
International Level: International Guru / Political Participation: 3231 100%
Even if we start to drill no today it will take what six months or more before oil is coming from that drill site? Then it will take another six months before we see a reduction of imported oil? So we are stuck paying these high oil prices and fuel prices for another year at least. I think the oil companies will still charge us more because of the new rigs they have to put together and drilling costs. I doubt we as Americans will see a reduction in the price of fuel withing the next three years.
Oil dropped another $6 a barrel. Even with prices falling and new drilling I don't see us getting much of a reprieve. It may stop prices from climbing any higher but I doubt we will ever see much of a cut.
International Level: Activist / Political Participation: 32 3.2%
We seem to be settling down for a run at 1.30 per litre. Funny it was that a week ago then went up a bit now they announce a 6 cent drop and it is still then same.
International Level: Senior Politician / Political Participation: 188 18.8%
Dems argue against drilling
Gas prices are soaring, pocketbooks are suffering---yet Democrats are still finding excuses not to drill for more oil. Nancy Pelosi called the Bush plan to drill a 'hoax' and tells the oil companies to drill on the land they are leasing from the government. Seemingly content with waiting for magical new energy sources, Democrats would like you to believe that the oil companies are just leaving money out there on the table. Here's the rest of the story on why the evil big oil companies aren't drilling on these leased properties from the government.
Ref. https://www.glennbeck.com/content/articles/article/198/12393/
I still have a hard time with the fact that oil prices are dropping some but the prices at the pumps are holding steady or going up. If it is cheaper to get the gas now why can we not see a little bit of a price roll back to help our pocket books?