Do you think SIMPLY drilling for more oil will reduce gasoline/diesel prices?
Many people say to me, especially here in Texas, “They need to open up ANWR and the Gulf of Mexico for drilling, and there are lots of capped wells in Texas that could be pumping….” To which I reply, that’s not the problem: What we need before we drill more, or begin oil shale exploration, is to build more refineries to PROCESS the oil, and we haven’t built a new one in decades. Our refineries our AT CAPACITY!
So, how many of you agree with me that the paperwork involved to get permits for refineries should be rewritten? The technology to build safe and environmentally friendly refineries is there, let’s DO IT!
Yes, I think that drilling for more oil will lower oil prices. It is called supply and demand.
I ALSO think that you are correct, In stating that we desperately need more refinery capacity.
But I do not think that we can build a refinery that can do the two things we need to do-refine gasoline economically AND get past the very strict EPA regulations of today.
So instead we buy gas from refineries in other countries where they produce massive amounts of pollutants.
Is it not the same environment? Is this penny wise and pound foolish?
Can we say “not in my backyard”
I think that we could ease up on the EPA regulations, lower gas prices and still produce refined products at a fraction of the pollution output of other countries.
I also think that this would be what is best for us all in the long run.
Now lets consider who the greedy oil people are! Could it be the stock holders, as in just about every major investment portfolio and retirement group in the country.
And yes, I believe it will bring down prices very quickly, it is called the futures market, or oil speculation.
Offshore Oil Drilling Technology Conference – VOA Story
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