AP BS: US Drilling Doesn’t Drop Gas Prices

This is why I have been saying it: More drilling doesn’t cut gas prices. It’s a story. And it’s a fact-check from the AP. AP’s done a fact-check story: “More US drilling didn’t drop gas prices — It’s the political cure-all for high gas prices: Drill here, drill now. But more US drilling has not changed how deeply the gas pump drills into your wallet, math and history show. A statistical analysis of 36 years of monthly, inflation-adjusted gasoline prices and US domestic oil production by The Associated Press shows no statistical correlation between how much oil comes out of US wells and the price at the pump.”

Now, uh, once again I find myself near speechless here.

This is a raw, naked assertion of flat-out excrement.

This is BS of the highest order.

Therefore, as I said earlier, we may as well not produce steel. We may as well not produce wheat, corn, you name it. It doesn’t matter. US production of these items has no effect on the price. It says that right here in AP: More drilling didn’t drop the gasoline price. Isn’t it as simple as saying, “Okay, take the US share of produced oil off the market, and what would happen to prices?” Are they trying to tell us that the amount of oil we produce and put on the global market is so insignificant that it wouldn’t matter? Boy, I remember during the Bush administration, we got to $3 a gallon, and there was a conspiracy going on!

The media stopped everything to trying to get to the bottom of it. “Who is responsible for this $3-a-gallon gasoline?” Now, here we are in the golden era of the Obama regime, and $5 a gallon? “Hey, it’s just the market at work, and it’s really not as bad as you think.” But at $3 a gallon, if they coulda put Bush in jail for it along with Karl Rove, they would have. If they coulda rounded up all the executives at ExxonMobil, Rex Tillerson and the boys, they woulda done it and they woulda put ’em in jail. Now, everybody knows that gasoline prices are “subject to many factors.” There are speculators who look into the future.



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