If DRILL DRILL DRILL were an effective way to reduce oil costs, wouldn't the oil companies be resisting?

such a move.





I mean, why should they support something that would reduce the value of their own product, and hence reduce the value of their company.





Are they in this for altruistic reasons or are they in it to make money?If DRILL DRILL DRILL were an effective way to reduce oil costs, wouldn't the oil companies be resisting?
Actually the oil companies would love to drill more as demand goes up so that they sell more so they make more money.If DRILL DRILL DRILL were an effective way to reduce oil costs, wouldn't the oil companies be resisting?
Oil companies don't really make more money by the cost going up, they make money because of the large volumes of oil they sell. The government makes about 40 cents off each gallon of gas sold while the oil companies make about 9 cents. Seems like the governmetn wouldn't want prices to go down. People are taking public transportation, riding bikes, buying fuel efficient cars, the oil compay may make slightly more when the price goes up but would make tons more if the price stayed low and they could just sell more oil.