You can drill as much as you want - gas will not become cheaper.

So this is about Obama vs Romney; same difference.

It very well could work if there wasn't all of the government intervention that you mentioned you want in the last post.

This is bullshit. Keystone won't do anything for the POO in America. Firstly the XL is to EXPORT THE OIL TO ASIA so right there, that's shot down. Secondly pretending all 500k bopd went into the American market it would only mean an extra 2.6% supply (pretending there wasn't a similar decrease in oil imported from other markets which there would be). Basically it's enough for a few pips for the futures traders for a week to sell the news. Oil production and drilling (although not leases) is up under the Obama administration (but not because of them), it's why there is a gas glut and all the shale producers are hunting condensate rich gas and shale oil. Unlike with oil, America doesn't have the infrastructure to export gas in any great quantity. Hence low prices as the supply can't be soaked up by the world market. As soon as producers build the infrastructure LNG will be exported as well bringing local gas prices back up. It's totally different with oil.
Seriously most of you guys have no idea of the timelines and scale involved in hydrocarbon exploration and the macroeconomics of oil. Neither Obama nor Romney is going to change the price at the pump more than 1% one way or the other with regulation, certainly not within the timeframe of a presidential term (unless they socialise it, which they won't).

Oil Vender and Crack Venders Do Business the Same :D

You are absolutely correct. This year US is a net exporter/importer. We are sending tons of petroleum to other countries. The drilling thing is geared to greed and pimping US resources for the profits to a few. peereodd.

Supply would get larger except every time there is a glut, there is a fire, there is a rebel raid on an oil facility or there is maintenance to be done, suddenly, at half the refineries. Price will only go up from here. It may "ease" from time to time to fool the fools but price of petroleum only has one overall direction and it is not down.

Wait 10 years and hear the excuses they make for the price of solar or wind going up. "Sun was not as bright as usual this week", "winds died down", "dog ate my solar panel"...

Oil companies don't control the prices , supply and demand determines the price and unfortunately oil companies don't control the supply - OPEC does.

Doesn't help blaming oil companies - blame OPEC if you don't like higher gas prices. So yes drilling for more more oil onshore will increase supply and should lower prices assuming OPEC doesn't lower output to counter that move.

The oil market isn't a free market

I hope to be solar by the end of this year at my home; and, off the power grid at my offices by the end of next year. The feds and city have some serious rebates and tax credits right now that cover 65 to 70% of the install costs.

OPEC only controls a small portion of the supply. Oil companies have a part every step of the way from exploration to delivery. Speculators working in collusion with Wall Street and the Oil companies drive up the prices for their benefit. It has been shown that oil companies sell their oil to subsidiaries to drive up the bidding by allowing competitive bids between "separate" entities to drive prices up. Seriously, pay attention. This is all public data available to you.

The public and gas station owners get fucked. Did you know that gas station owners earn on average 1-2 cents per gal profit? Nice margin. Why do you think they all have become kwiki marts? Only real chance for profit.

you must not be american! lol

Any amount it drops is money out of OPEC's pocket. Do you honestly believe they wouldn't take supply action to keep the value exactly where they want it?

The price you pay at the pump is what OPEC wants you to pay. Nothing can change that except for a nationalized oil industry (something we should have done a long time ago, but likely never will).

Gas and oil are commodities, the less around the higher the price.

Look at the Diamond market to see how it's not in the oil companies interest to flood the market with oil and gas. It's also a resource that isn't going to last for ever, so making it cheaper so people can consume it faster is also a stupid way to go. About as stupid as giving away the product for free to get more sales. So not surprised so many here think it a good idea. :oh crap!!!

If you want to save on your fuel bill, use less. It really is that simple.

I think you guys are right. Let's just leave all this oil and gas in the ground and see if we can come up with something new. In the meantime let's watch what happens when the cost of food goes through the roof as transporting it becomes more and more expensive with the price of fuel going up.

Talk about a tax on the middle class...

Or we could read this news report from May 2012 talking about the fact that oil companies have now made GIANT discoveries of oil right here in the U.S. that could make us energy independent and have no need to import oil.
http://www.usatoday.com/money/indust...NCE/54977254/1

Effectively buying us plenty of time to develop new technologies in green energy without having to make it so expensive to fill the tank for lower and middle class Americans (rich people don't care if it costs $100 to fill the tank)

Great idea. Leave it in the ground for now and run the US on foreigners oil. When they have been depleted, become the majors world oil supplier.

Far better than drill everywhere and running the US on it's own oil and running out. The price dropping is a myth. It's not in the oil companies interests to go around drilling everywhere to supply you with cheap oil. For them it's better to get more money for the same production, than the same money for more production.

You seem to be complaining about prices a lot recently. As you're rich I wonder why. If you truly want to cut your fuel bill, buy a smaller car, get a bike for short trips, or one of these http://www.fueleconomy.gov/feg/best-worst.shtml and your gas bill will plummet. Much faster than any saving at the pumps. And if more Americans drove these cars, fuel imports will drop like a stone.

As for food prices. How about the Government taxes you more so they can give the farmers more in the grants. Or really hit farmers with huge fines for employing illegal labour so they have to employ US citizens and pass the cost onto you. I hear about the immigrant problem from a lot of posters here.

As the OP says. They can drill and drill, the price isn't going down much on a barrel and cents at the pump. You need to find new ways to save money.

Here's more ideas.

http://michaelbluejay.com/electricity/solar.html

http://www.scientificamerican.com/ar...-a-box-sunfish

http://www.siliconsolar.com/diy-solar-panel-kits.html

You live in the desert, the sun hardly stops shining. For a few $100s you could cut your electricity bill. Which it seems is your prime interest today.