Funny, how just the mention of us drilling for oil has helped the price come down.?

1) Do you think the push for more exploration will last past the election, or is it just lip service?





2) Will we be placated if gas prices come down again and forget about all this energy talk?Funny, how just the mention of us drilling for oil has helped the price come down.?
Well, it's not just drilling, we are also talking about using other resources to power our vehicles, namely Natural Gas, which can with little modification actually help replace a bulk of our existing vehicles fuel. CNG conversions are very feasible.





And actually being done in countries like Iran.Funny, how just the mention of us drilling for oil has helped the price come down.?
Dude, you are so wrong! Oil is a commodity, it's price is a matter of supply and demand. As demand decreases (like it did when prices were high and people were not driving as much) supply increases and prices come down. ';Mentions'; of anything do not set prices. Imagine how much gas prices would come down if we all drove more fuel efficient cars.
The Alaskan pipeline was in the works before this election, it will continue afterwards, that's natural gas, not oil...and it's just the start








I also noticed that the price of gas is coming down...We're down about 30 cents a gallon in less than 3 weeks :)





EDIT: @Teener: $3.70 here today in Northern Kentucky...Was $4.00 and over
Started going back up today.





1. No it will be explored be whichever party wins.








2. No, we can't ignore the problem.We have to explore alternative energies and we have to do it now. We cannot keep depending on the middle east for oil. Heck we can't keep depending on oil alone.





Down 30 cents a gallon in 3 weeks? Geez lucky you. I'm still paying 3.81.



It is just the age old fact that long term price elasticity is larger than short term price elasticity. People substitute away from oil, the people who put prices high get nervous, and so on.
Yes, and funny how Chris Matthews fails to see a connection but somehow connected Palin's speech with a drop in the stock market.
1. Yes, but it takes years to get oil out of prospective wells.


2. No, because they'll still be too high.