Wednesday, July 23, 2008

Lower gas prices


For 2 weeks now since President Bush lifted the offshore drilling ban, we have seen gas prices come down. Yet it doesn't seem that they go down as quick as they go up. Now lets look at the way gas goes up in price. As OPEC raises the price of crude oil the next day (or even the same day) gas prices go up. Now I know as well as the rest of America that the oil that we are buying today is not going to be at the pump tomorrow. That means that the Government or price gouging us, raising the price of gas to cover the new cost of oil we wont use for 5 years. Sounds to me like they need to be questioned about it. Its not only the trusted elected officials that do this to us, its the big oil guys as well. They claim that they don't make as much money yet they have reported record profits the last 3 years...... While America is going broke just to drive to work these fat cats are living the high life with huge tax breaks and free gas.

Now I had a conversation with a friend of mine this weekend and told him about an idea to lower gas prices. Keep in mind I have no education outside of High school in economics. The U.S. has millions of barrels of oil. I say we should start drilling our own oil now as planned by the President. Take all the oil we have in reserve and flood the market with it $40.00 under current cost. What will that do? That will send OPEC into a price fit. They will not know what the hell to do. (Id love to see the look on their faces) The rest of the world would turn to the U.S. for oil and we are making instant money. That oil we paid $40.00, $50.00, $60.00 etc. for we now just made money on. So now your starting to get it. WOW we lower our own cost of gas and were making money on the oil we over paid for! Now I know that there would be more to it than that but it makes sense at least from a civilian stand point.

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