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Will More Drilling Lower Gas Prices?

News 2011/05/10 18:34:03
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If you've filled up your gas tank lately you know we're in a serious crisis. Prices at the pump are at near-record levels and aren't expected to fall for another month or two.

Many pundits attribute this spike to the Democracy Spring across the Middle East and the fears that uncertainty in the region could lead to a choked-off supply of crude.

But Washington Examiner columnist David Limbaugh sees a very different gremlin at work here, namely, President Obama. In a searing column condemning the White House's energy policy, Limbaugh (yes, he's the younger brother of Rush) argues that Obama is getting a pass from the same liberal media that excoriated former President George W. Bush for rising gas prices under his watch.

"Or could it be that they aren't critical because they share his bias against conventional energy and believe the pain caused by his policies is necessary to move us toward alternative energy sources?" Limbaugh wondered.

According to Limbaugh, when gas prices went up during Bush's second term, the failed former Texas oil man took "proactive steps" to increase supply and reduce prices, while Obama has "taken action to impede conventional energy sources and shove us into alternative ones … Obama told us he would bankrupt the coal industry. He's pushing high-speed rail down our throats despite the lack of public demand for it and our inability to finance it."

Limbaugh wonders why there aren't calls for investigations into these comments and others, including one from Energy Secretary Steven Chu, who he quotes as saying, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe."

He suspects the president's goal is to suppress or shut down the existing oil infrastructure in the U.S. in pursuit of alternative energy priorities, though, so far, Obama's push for high-speed rail and increased alternative energy avenues have mostly fallen victim to budget battles and GOP stonewalling.

The solution is, of course, drill, baby, drill.

Open more coastal waters for exploration, lift the seven-year ban on drilling off the Atlantic and Pacific coasts and in the eastern Gulf of Mexico. Though experts have said those areas are not thought to contain enough reserves to solve our long-term energy crisis and that it could take a decade or more to actually see that drilling bear black gold, Limbaugh said Obama's "crippling policies" are having a ripple effect on the many vendors, suppliers and restaurants that help fuel the domestic oil industry.

The bottom line, though, is that despite the worst environmental disaster in U.S. history last year with the BP spill, Americans like Limbaugh, and his brother, are more concerned about rising gas prices than environmental damage.

"Obama is no less determined to cram his preferred energy alternatives down Americans' throats than he was to force-feed us socialized medicine. Again, where is the outrage?" Limbaugh wondered.

Do you agree that more drilling is the answer?
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Top Opinion

  • 56lady☆POTL JLA BTO-t- BCRA... 2011/05/10 21:11:06
    Yes
    56lady☆POTL JLA BTO-t- BCRA-F's
    +13
    Not only will it drive down the cost of gas but it will also CREATE JOBS!
    JOBS! JOBS! JOBS!
    GOOD PAYING JOBS!
    It takes time to move and set up the rigs! so relief will not be immediate.

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  • ɟʇʇoɔs 2011/06/24 04:42:48
    Yes
    ɟʇʇoɔs
    I don't want to be forced to take the bus with weirdo's and losers
  • Jeremy 2011/05/13 12:43:47 (edited)
    Yes
    Jeremy
    It would, eventually. It's not like they could open up wells tomorrow and prices would plummet by memorial day, as some of you seem to think. Also, there is a lot of "blame obama" (what else is new). How quickly you forget (probably convienently) that obama lifted bans on gulf and atlantic drilling, until BP screwed that up. George bush lifted bans on alaskan drilling until some whiny "save the reindeer" group sued and put a stop to that until the case is heard. If you really want to play the blame game, you have to go back to clinton. there was a call and support for drilling, but he wouldn't sign the bill, stating basically that it would be pointless since it would take 10+ years to see results. That was 14 years ago.
  • IMAOZI 2011/05/12 15:12:15
    No
    IMAOZI
    I would like to know WHY the prices can go up not only three times in one day but also mid-pump BUT it takes WEEKS for the price to fall.
  • Matt M 2011/05/12 04:18:03
    Yes
    Matt  M
    and no. It's simply more complicate that slogan-based screaming.

    A good prospect could take 10 years to bring into production. So drilling holes all over the place will do nothing for your forth of July gas prices. Nothing. Absolutly Nothing.

    But since we are forseeably a hydrocarbon based society, if we don't drill holes, prices will increase over the longer term more sharply than if we did not drill holes.
  • EdWhiteSpace 2011/05/11 21:03:31
    Yes
    EdWhiteSpace
    SAFE drilling may be. Not what we are doing now.

    After the Horizon catastrophe that dumped millions of gallons into our waters and into the fish we'll eat - along with hundreds of thousands of gallons of chemical dispersant to hide it so it wouldn't show up on beaches - we are currently giving deep water drilling permits at a break neck pace, and in deeper water than the Horizon was in USING THE SAME SAFETY MEASURES. Yup, the same backflow preventers that failed, was studied, and shown to be ineffective if there is a blow out are being installed on the rigs being put in now.

    Nice, huh?

    But if they could work out containment domes, a failsafe backflow preventer, etc. I think we need to drill and get away from foreign oil instead of sending them our money to use against us.
  • JAKE~PWCM~JLA 2011/05/11 20:48:56
    Yes
    JAKE~PWCM~JLA
    simple economics, more supply lowers the price.
  • jubil8 BN-0 PON 2011/05/11 20:45:06
    No
    jubil8 BN-0 PON
    Let's hear first that oil company profits are down...
  • Matt M jubil8 ... 2011/05/12 04:21:22
    Matt  M
    +1
    Heck yeah, drive down profits on those bastards! That way they will not invest at all! And that will be great because....uh....hmmm...uhh...

    Heck yeah, drive down profits on those bastards...
  • jubil8 ... Matt M 2011/05/29 18:09:21
    jubil8 BN-0 PON
    Gee, as long as we continue to subsidize them, they'll have money for investment. You don't seriously think they'll stop looking for more sources because regulations make them adhere to certain standards, do you? If that were the case, Shell could have saved MILLIONS by walking away from the Arctic Refuge when their permits were denied 4 years ago (or so). They're still there...

    I don't think LIMITING profits to, say, $400B instead of $500+B is going to destroy Big Oil's incentives. But you go ahead and buy their side of the story. I could care less.
  • Joseph ... jubil8 ... 2011/05/12 14:40:42
    Joseph Michaels
    More indication of ignorance from the followers of the left. The oil companies already have one of the lowest profit margins of any company out there. If you took away their profits all together, we would barely notice it at the pump.
  • jubil8 ... Joseph ... 2011/05/12 22:07:35
    jubil8 BN-0 PON
    +1
    I love it when people use big words they don't understand.

    love people understand laughing smiley  animated
  • Joseph ... jubil8 ... 2011/05/13 00:23:06
    Joseph Michaels
    Do you mean profit margin or ignorance?
  • jubil8 ... Joseph ... 2011/05/14 22:20:20
    jubil8 BN-0 PON
    Your silly attack amused me. But I'm not interested in continuing to talk you.
    silly attack amused continuing talk penguin slapping penguin  animated
  • Joseph ... jubil8 ... 2011/05/17 01:24:07
    Joseph Michaels
    So you don't have anything to say so you are just going to use stupid comments to try and discredit me? You liberals just never stray from the play book do you?
  • jubil8 ... Joseph ... 2011/05/17 03:03:26
    jubil8 BN-0 PON
    I stated my opinion. You're the one who attacked, and I refuse to engage in an argument with you. Too bad if that leaves you boxing shadows. I don't care.
  • Joseph ... jubil8 ... 2011/05/29 17:06:36
    Joseph Michaels
    You did not state an opinion. You resorted to insults as a way of ending the conversation.
  • jubil8 ... Joseph ... 2011/05/29 17:57:20
    jubil8 BN-0 PON
    1. My answer to this poll: [No] Let's hear first that oil company profits are down...

    2. Your reply to me: More indication of ignorance from the followers of the left...

    THAT'S AN ATTACK. Did you bother to reread the conversation before replying above? Or is your grasp of rhetoric so poor that you don't know what constitutes a verbal attack?

    Apparently on one hand you think you can say anything and it's acceptable; on the other you're so thin-skinned that you can't stand being laughed at. Awwwww. Don't dish it out if you can't take it, sweetpea. And YOU dished first. I won't engage in a debate with you on the merits of the question because you aren't worth the effort.

    [If there are any words or concepts in this message that you don't understand, get out your Funk & Wagnalls and figure them out for yourself.]
  • Matt M jubil8 ... 2011/06/03 19:39:54
    Matt  M
    Well that was entertaining!

    So jubi, what exactly is it that YOU do for a living? Please explain why your choosen segment of the economy is special and should bear less burden that the most fundamental industry in the world?
  • Seonag 2011/05/11 20:28:59
    Yes
    Seonag
    Supply and demand.
  • Dickens 2011/05/11 19:11:21 (edited)
    No
    Dickens
    +1
    ...conservation of resources and development of alternate energies is our only real choice. There just isn't enough oil still left under the U.S. to make any real difference; that's why Arab countries own us (well half, anyway; reagan & friends gave the manufacturing half to China.) We squandered our oil reserves on 400HP engines for 75 years. The only oil available here in any amount is in CO, UT, WY & NM, (way more than in Saudi Arabia); the problem is that it's all locked up in shale, and very difficult and expensive to recover. Any significant pumpable oil reserves have been found and drained.
  • JessyBear 2011/05/11 18:52:36
    Yes
    JessyBear
    and anywhere else we can get it in this county - along with an all inclusive plan to use all - all - all alternative fuels - such as coal - nuclear - natural gas - solar - and wind - hydro electric and any other out there new bio fuel we can come up with - we need to sink big $$$$$ into a technological advance that will outdate oil and bring all Americans back to a better standard of living - that's all it's going to take for us to have a natural economic BOOM and get our country back on track.
  • WGN 2011/05/11 18:46:14
    No
    WGN
    +1
    What "Gas Crisis"? We have enough oil. What we need are windfall profits taxes, price controls and a huge push towards alternative fuels.
    Any oil that would come from drilling would be subject to the same market speculation ( the speculation that is driving up the price of oil, not supply and demand) and would therefore cost the same as the oil we have now.
  • tom C WGN 2011/05/11 19:07:09 (edited)
    tom  C
    Winfall profits???? Its against the law to make money now???
    the truth is Obama has demonized oil companies...when they supply the energy that makes this whole country run.....

    EXXON profit margin 9.56% ..is that too high?
    Well then you must Really HATE APPLE as their profit margin is 22.36%!!
    http://finance.yahoo.com/q/ks...
    http://finance.yahoo.com/q/ks...

    Obama has no plan for alternatives...as they still cost way more than fossil fuels and
    He has only approved 2 LOANS for construction of new nuclear plants..when he promised much more...
  • WGN tom C 2011/05/11 21:05:13
    WGN
    It is against all normal rational thought to give tax breaks to corporations that have quarterly profits in the billions. Internal speculation by oil companies (buying their own oil over and over at inflated prices) is part of what is causing the rise in prices. It does not cost any more to pump oil out of the ground today then it did 5 years ago. The money made by this fraud should be taken away. End of story. It is called Corporate Rape.
    The numbers you are quoting are not quite accurate because of changes and differences in bookkeeping that favors putting money into places that are not actually real. i.e. Your numbers, the one's that Exxon Mobil likes to throw out, are "their numbers" not what is real, but what is nicely done by a hundred accountants trained to show what the company wants you to see.
    Whether or not Obama or congress has no plans is irrelevant. There should be plans, but we have a SCOTUS that allows corporations to continue to influence the government and the electoral process for the sole purpose of their own well being.
  • tom C WGN 2011/05/12 12:14:19
    tom  C
    Those numbers are not mine ...they are accepted numbers approved by the securities and exchange commission and are as accurate as any other corporation's.....the FACT that APPLE has higher profits doesnt open your eye?
    It does take more to get oil out of the ground now as compared to 5 yrs ago....
    The easy oil is not available anymore....Obama has banned drilling on 75% of our coastline...
    along with tougher regulations in the US and around the world has driven cost....
    Also new techniques to get that "tougher" oil such as horizontal drilling are way more expensive...
    Obama not having a plan is irrelevant???!!!
    He promised over and over..a move to alternative energy...but has no plan...
    The cost of alernative is currently prohibitive,,,$40,000 for a chevy volt is not the answer compared to a combustion engine in the chevy Cruze ECO that gets 42 mpg and costs $19,000 half of the Volt.....
    That influenece you speak of..is another promise OBAMA broke...


  • sglmom 2011/05/11 18:39:19
    Yes
    sglmom
    +2
    And accompany this with a LOWERING of the HIGH Taxes that we pay on the cost of fuel at the pump as well .. and yes, it will not only lower gas prices ..

    But have the MORE SIGNIFICANT Effect of letting those who WORK HARD EACH AND EVERY DAY have MORE in their pockets to stimulate the economy in their hometowns by having MORE to spend .. a bit of breathing room .. more to save .. and building MORE JOBS too!
  • WGN sglmom 2011/05/11 18:49:48
    WGN
    I seriously doubt that any of those things, except jobs, will come from drilling. Oil does not follow the usual economics of supply and demand. It is a commodity and is subject to speculation. Any new iol would cost the same as the oil that we have plenty of now.
  • sglmom WGN 2011/05/11 18:57:25
    sglmom
    You know what .. I live rurally .. and have seen what happens with the HORRIBLE politics .. that comes out of the beltway and from corruption locally as well as in the state ...

    We DO Need to accompany not only the Drilling and production WITH a lessening of the TAX BURDEN on those who are affected the most .. that means those of us who DO WORK HARD EACH AND EVERY DAY and pay our bills ..

    ADD to this .. actually making those in Politics KEEP THEIR HANDS OFF the Directed Taxes (like the ones on Fuel .. actually PUT IT to building/maintaining roadways .. There are STILL Dirt Roads where I am at .. and in many areas of the USA too outside of the cities .. our ROADS are maintained by those of us who live there .. NOT by the TAXES that we pay .. that gets siphoned off for the cities .. ) and FICA (That should NEVER have been siphoned off for all those give-aways either).

    I know that IF Given the chance to see a lowering of prices/TAXES .. there'd be those of us .. barely hanging onto our businesses .. wanting to expand our base .. and actually .. if we had more opportunities .. we'd definitely HIRE for sure.

    As it is now .. that is not going to happen.

    DRILL .. Just DRILL and CUT our Taxes too ...
  • lin sugar lips 2011/05/11 18:35:40
    Yes
    lin sugar lips
    +2
    DRILL BABY DRILL!!! We have plenty of it.
    drill baby drill plenty
  • WGN lin sug... 2011/05/11 18:50:15
    WGN
    If you believe that idiot, you will get all your dreams answered- And I guarantee that you will not like it.
  • lin sug... WGN 2011/05/11 18:52:29
    lin sugar lips
    +1
    He sure as hell has you beat. That is a map of all the oil and the government has been buying up all that land. Take your head out of your ass and learn something.

    http://www.sodahead.com/unite...
  • WGN lin sug... 2011/05/11 18:56:13
  • lin sug... WGN 2011/05/11 19:01:48
  • WGN lin sug... 2011/05/11 21:06:31
    WGN
    Spoken like a true conservative!
    Wake UP!
  • lin sug... WGN 2011/05/11 23:49:57
    lin sugar lips
    +1
    sober up!! sober kool aid
  • davyd god loving patriot 2011/05/11 18:23:40 (edited)
    Yes
    davyd god loving patriot
    +1
    should have drilled years ago, thank nobama and the voters and the eco-nuts
  • HappiestGirl 2011/05/11 18:22:50
    Yes
    HappiestGirl
    +1
    Yes, if it was drilling in U.S. properties and accompanied by more oil refineries and less dependency on middle east oil.
  • Tink123 2011/05/11 18:21:53
    Yes
    Tink123
    +1
    If we drilled here we would have no dependence on foreign oil. So I'd say yes -- yes it is.
  • Defend Western Civlization 2011/05/11 18:07:03
    Yes
    Defend Western Civlization
    +1
    When will obam let Americans drill for our own oil
  • snyski 2011/05/11 17:54:50
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