How Much Does Increased Oil Drilling Save You? CHART - WhoWhatWhy

How Much Does Increased Oil Drilling Save You? CHART

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According to the Natural Resources Defense Council, the oil companies are having the last laugh with the notion that increasing drilling will lower prices. NRDC makes the argument that more drilling will only increase the total profits of the oil companies, but not benefit the public. Meanwhile, the biggest way to save at the pump? Switch to a more energy-efficient vehicle.

Um….duh!  Common sense rules again.


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0 responses to “How Much Does Increased Oil Drilling Save You? CHART”

  1. Avatar Kurt says:

    To every left-wing liberal moron, if you’d take the time to educate yourself properly versus taking talking points for facts, you could figure this out on your own….
    The oil company’s profit margin is…. you ready for this????….. 8%!  Not revenue.  Not profit.  Profit MARGIN – 8%  For the government educated folk out there, that means 8 cents on the dollar.  Where does all the $$ go?  Taxes – look it up!  Don’t take my word for it – that’s what liberals want you to do.  As for “drill baby drill,” thanks to the EVIL SPECULATORS (that’s means regular investors to normal people that aren’t trying to demonize), prices at the pump would see an instant drop the instant it’s announced due to the expectation of the availability of more fuel.  You’d see that just from lifting the ban on offshore drilling , even before the oil companies started drilling the first new oil well.

    • Avatar Russ Baker says:

       Oil company sock puppet, no doubt. Any “moron” can look up oil industry profits–which are the biggest of ANY industry.

  2. Avatar Phoenix says:

    How about just driving slower?

  3. Avatar Tom2750 says:

    How big of a trailer can a Prius pull ?? Makes it hard to work

  4. Avatar eric says:

    Another piece of liberal garbage. Let’s take a look at what the oil companies actually do for our economy and how they employ millions of people, and unlike certain people (Warren Buffet) they actually pay their taxes.

    Furthermore, to assume that increased oil drilling would not decrease the cost of gas is just ridiculous. Theoretically, when supply goes up, price tends to go down. We have obscene amounts of oil reserves in our country, enough to keep us independent from the Middle East oil beyond any of our lifetimes.

    • Avatar eric says:

       Actually, I am a 21 year old college student with an open mind.

      Nice try though “Larry”

    • Avatar jdirtNOW says:

      eric, i’ve felt your pain, i gradumated w/BSME04…and i hope you’re starting to look at the economy you’re about to try finding a job in and realize it looks a mess…friendly advice: nobody will ever care what you think until you’re a man (40). in  the meantime, “liberal garbage”? c’mon man. trust that charts can be tailored to suit any argument. don’t get tricked into choosing sides.  everyone knows we’re saving our oil for WWIII which if you’ve not noticed is brewing up something hot!

      an open mind is a terrible thing  to waste, focus on school and try not to make a baby, you’ll inherit this mess all too soon.

    • Avatar Larry says:

      How does offering your age make you less of a sock puppet? What’s your connection to the blog you linked to–that would be a more informative declaration.

    • Avatar Tamara says:

      The quote (from I forget which mathematician) is: “In theory, there is no difference between theory and practice, but in practice, there is.”  Yes, theoretically gas companies will pass on their savings to us.  In practice, fat chance.

      As to the obscene volumes of oil reserves in our country, we have the strategic oil reserve, which contains a whopping 36 days of oil at current usage rates.  Everything else is still in the ground, in wells that are performing at less and less capacity each year.  OR they are in oil shale or oil sands, and getting to that is even harder.  Getting oil out of oil sands is like getting pure cocoa back out of a chocolate muffin.  You know it’s in there, but getting it out takes a heck of a lot of processing. 

      We need to wean ourselves from oil.  Peak oil is real. 

    • Avatar Edwcorey says:

      You quote the industry, which is going to put its claims in the best possible light. At 21 you have plenty of time to learn that almost everything you will ever hear is a lie, and conservatives lie the most—because their lives are based on faith. A contrary view:

    • Avatar Floridatexan says:

      I say this, eric, as someone whose various family members have worked in the oil business for decades.  Theoretically, you would support someone who believes in policies that benefit you; well…so much for theory.   Commodity futures markets are being manipulated for quick profits; hoarding is taking place; the dollar is wobbly since Bush tried to kill the economy; and you are buying into the notion that oil companies care what you pay at the pump.   Wrong…oil companies care about the BOTTOM LINE..economics lesson over. 

    • Avatar randydemo33 says:

      The oil drilled in the United states is not owned by the US it is owned by the oil company. They sell it as a comodity to the highest bidder. Oil production is up and use is down 10% in the US but gas prices are at an all time high. So much for supply and demand. If we don’t buy it and at the price the oil company want then they sell it to India and China. That is free market

    • Avatar josh says:

      actually, much of the oil in drilled in the u.s. is owned by the u.s. the drilling rights on national land or offshore is leased to the oil companies. the lease rates for the oil is much lower here than most countries (e.g. saudi arabia).