What do you think about the ';drill now'; theory when oil prices are falling due to the slight increase in USD?

...value.





Does it appear that oil prices are falling without US offshore drilling?What do you think about the ';drill now'; theory when oil prices are falling due to the slight increase in USD?
A slight decrease... If we increased the supply, and continued to lower the demand, then the price would plummet. Kind of like Pelosi's rating in Congress.





Besides, I'm not happy with $3.55 a gallon, I want $2.50. The funny thing is, that Congress said it would take 10 years, but it was less then 10 days after Bush lifted his ban when the gas price fell. If Pelosi would lift her head out of Mr. Greenpeace's lap, she would allow the vote to lift the congressional ban, and we would be enjoying affordable fuel before Christmas!





Come on CG, I thought you had increased the IQ points a little. What do you think about the ';drill now'; theory when oil prices are falling due to the slight increase in USD?
Oil prices have fallen, in large part because demand is down world wide, leading to an increase in supply, which prompted investors to take their money out of commodities (see oil) and put it back into stocks. The bottom line is that we need to lessen our dependence on foreign oil as much as possible for both economic and security reasons.





The difference between America and most of the rest of the world is that we have the natural resources to become completely self-sufficient. Imagine how much stronger the dollar would be if we would extract enough oil to not only fuel the US, but also become the primary global exporter. Oil drives our economy. It's the life blood of our goods and services. Our automobiles (freedom machines) don't run on wind or solar power, and this is a problem we sure can't inflate our way out of!
The Fed can't maintain this low discount rate. I expect it to double incrementally over the next 12 months. This should help boost the dollar even more, sending gas prices lower still.





Ironic that people assume that if Congress leases more land to the oil companies that they oil companies would immediately start drilling. When you suggest that Congress pass a bill directing the oil companies to drill now or lose the leases, conservatives call it socialism. Hilarious!
Drill Here. Drill Now. Pay Less.





It is not only costly, but extremely dangerous to be relying on OPEC for a majority of our oil. Most member nations of OPEC our hostile to us, so becoming energy independent should be top priority. Drilling will be a part of that. But I'm not just for drilling. I'm for anything that works: Wind power, solar power, electricity, clean coal, nukes, Chuck Schumer's hair. Anything.
and they would drop more if we drilled. We are trying to get off of foreign oil along with lower prices.





You must be incredibly short sighted if you think the problem will be gone as soon as gas prices go down. We are sending billions of dollars a year to countries that mostly hate us. They could cripple our economy with a simple embargo. Also some of that money goes to funding terrorist. So high gas prices is just one problem, we need energy independence and drilling is the first step in that.
The real reason we don't drill here is we want to use up all of OPEC's oil first and drain their fields to the last drop. When this happens, OPEC will cease to exist and all that crap happening the middle east won't matter to us anymore, why should it? They have nothing else, except sand export, but we have our own deserts.





All the money that we sent over there to buy oil will come back to us, the rest will be forced to buy from us, as we would be the No. 1 producer if we wanted to. Everybody will love the Unites States, we would have the oil.





That is the grand plan of our government, they're not stupid, we just pretend to be while the middle east continues to pump all the oil they have.





Think about it.
There is a lot of oil here in the USA - On land . I don't like oil -but would much rather see Americans reap the profit and also hire Americans. I think it was North Dakota where millions of barrels of oil was discovered. I still believe that Green energy via wind and solar for electricity is a great near future plan.
It isn't just the rise of the dollar that accounts for the fall in oil. But, to answer your question, I say yes, we should develop more domestic energy resources, including drilling for oil. If we don't, gas will cost $40 per gallon in ten years.






I still dont believe in offshore drilling. I think that what we need to do is take this opportunity to begin implementing the alternative energy manifesto created by the Department of Energy to create energy independence and to bankrupt OPEC!
Iran is only baiting the trap again, they will plug up the Straight of Hormuz and your gasoline will cost you another arm and a leg. We need to drill our own oil, build our own refineries and tell Iran to take a hike!
I strongly believe in offshore drilling and drilling in ANWR. We need to get off the foreign oil. I'm not buying for one minute that the slight drop in price is going to be anything long term.
Didn't you know that republicans are responsible for the drop in oil prices just because they talked about drilling?





Yep, that's what they're saying.
Offshore drilling will effect prices in the future. Don't worry about current conditions, plan ahead and reap the rewards later on.
Oil is still a very hot commodity. We should be taking advantage of the oil market.





The more we drill, the less why buy overseas.
Humm, so they artificially raised oil prices knowing we'll sooner or later cave in and give them more oil leases. What a bunch of con artist.
Obama is now FOR offshore drilling. His most recent flipflop.
They are dropping because of the Bush speech 24 days ago. Notice gas has dropped 24 days strait now. The last thing Muslims like Obama want us to do is not need them for oil!
Keep drilling till all the oil is used up. Then we have less to argue about.
The same as I thought of it when prices were rising. The ';drill now'; calls are just a GOP gimmick.





High prices caused US consumers to buy less fuel... THAT pushed prices down.
It doesn't make any sense to drill now.
Yeah, so much for that election year BS huh?