Will more drilling bring down oil prices?

or will the prices just stay the same?





Personally, I think it was all a scam. There were laws against drilling in these offshore areas for years. The only way to get the public and environmentalists to approve was by raising the prices high enough so ppl panic, and in turn approve of drilling offshore to lower prices. Once that is done, the oil companies can still charge whatever they want for oil.





http://www.businessweek.com/lifestyle/co鈥?/a>Will more drilling bring down oil prices?
Just the threat of more drilling will lower prices. The public wants more oil production in our own country. They always have. Now we just need to throw the obstructionist democrats out of office and tell the environmental wackos to just shut up.





The anti gun liberals got spanked today. Now it's time for the people to spank the environmental radicals. And the democrats who kowtow to them.Will more drilling bring down oil prices?
Increased drilling will bring down oil prices but how much is unknown.





The oil prices are not a scam. It is the result of speculation of higher demand because of the modernization of China and India and stagnant supply. OPEC supply remains the same, the US isn't drilling for viable oil supplies in its territory, and viable alternatives are not being created. Changing any of these three supply factors will change the equation and lower prices.
The only thing that is going to bring prices down at the pump is for the consumer to stop using fuel for long periods. Unfortunately most of us have a lifestyle that is dependant on it. So we are screwed.
This is an expensive place to drill.





Hubbert's Peak theory explains it. The cheapest oil to drill is in the Middle East right now (if you exclude the cost of the occupation).
The oil prices are artificially manipulated by OPEC and they even admitted this. By Sept after the high summer demand for gas, the prices will go back to some semblance of normality.
Wrong on all counts. Increase the supply, you lower the demand and vice versa. Increased supply means lower prices. It's about as simple as simple gets.
It is a scam. Additional drilling will bring down prices in about 10 years when petroleum is no, longer out main energy source.
shipping is a big cost in oil





shipping $ 3.00 per barrel of oil (size of ship used to transport)


tax $ federal + state tax


oil company cost $$$
Drilling what? Opening up another drop when there is already a bucket? That will probably reflect nothing in fuel costs at the pump...
It is indeed all a scam. But from both sides o the political view. The republicans are raking in the money as are some democrats. The majority of democrats want the price of oil to go through the roof so that we stop using as much oil and go to more ';green'; methods of transportation and utilities. The problem lies in we are all spoiled to our vehicles and our adjustable thermostats. There also lies trouble in that the price of groceries are skyrocketing meaning that those below the poverty line (which is a growing number as well) are looking to the democratic party to support them..so guess what else is going to rise? Thats right...taxes. We will have to support more people who are on welfare. I am a true blue American man. I believe in what are forefathers developed. But I fear a government that has gone too wild with their personal wants and needs. The American people are getting fed up...the question is..how much more can we tolerate? It is indeed time for change in our government. But Barack isnt the answer my friends. He is no different than any other politician. John isnt it either,he too has special interest money backing him. True change means we FLUSH Washington D.C. of all the current politicians and replace them with folks who have NEVER held public office. True change means term limits on ALL congress and senate seats. Two terms and youre out..next person in line takes over. As long as we have folks like Ted Kennedy making a career out of politics we will have corruption on a scale many will never understand. Its time to vote them ALL out and replace them with average Joe types. THAT IS TRUE CHANGE. But thats merely my opinion