Why is that jeffmo? Supply and demand doesn't work anymore
"That's because oil is a global commodity and U.S. production has only a tiny influence on supply. Factors far beyond the control of a nation or a president dictate the price of gasoline.
When you put the inflation-adjusted price of gas on the same chart as U.S. oil production since 1976, the numbers sometimes go in the same direction, sometimes in opposite directions. If drilling for more oil meant lower prices, the lines on the chart would consistently go in opposite directions. A basic statistical measure of correlation found no link between the two, and outside statistical experts confirmed those calculations.
"Drill, baby, drill has nothing to do with it," said Judith Dwarkin, chief energy economist at ITG investment research. Two other energy economists said the same thing and experts in the field have been making that observation for decades.
The statistics directly contradict the title of GOP presidential candidate Newt Gingrich's 2008 book "Drill Here, Drill Now, Pay Less," as well as the campaign-trail claims from the GOP presidential candidates."
personally,I think the entire "drill baby drill" thought process is simply driven by politicians doing what they are being paid to do by oil people.
in the fall prices go up and we hear that it because the refineries have to switch over to fuel oil for hearing.recently we heard that the increases were cause buy the tensions w/ Iran.the Gulf spill created an increase at the pumps.when there's too much supply and they're SUPPOSEDLY not selling enough,the prices go up.in my area the prices would go up every thursday and the reason was supposedly because they sell more gas on the wekends.how many more excuses can they come up with?
It's never ending and as for me,I'm tired of hearing BS excuses from the oil companies.people would be better off if they quit trying to over-think the cause for the higher prices and just say that it's greed plain and simple.
how fast do you think the gov't would step in and do something if hospital emergency rooms would raise THEIR rates on Friday mornings because they are busier on the weekends than the rest of the week?
