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  #25  
Old 09-17-2008, 02:35 PM
zookarama zookarama is offline
 
Join Date: Jan 2007
Location: Central Illinois
Posts: 32
Default this ain't rocket science

PAULL:
"What do you think is causing the current drop in oil prices? Do you think that trend towards trying to increase US domestic oil supply had no effect?"

Well yeah, I do think that. My understanding is that the recent (small) drop in gas prices is due to simple market demand pressures. Gas became so expensive this summer that we drivers simply drove less and thus the demand for gas went down. That brought the price down a little as many market observers have noted. If/when we resume our old driving habits, the price will go up again.

I'm a 61 year old middle class guy from deepest Illinois and I don't believe for a moment that drilling for oil (i.e. handing out drilling leases,) will have any significant effect on the price of gas.
I don't think that there is a short term fix for this problem; all the fixes are long term ones and we'd better face up to that. IMO, the most sensible long term fix is a combination of conservation (enthusiastically promoted by our politicians,) and a genuine committment (that means bigtime funding,) to finding new, and continuing to improve current, sources of energy.
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