Sunday, April 17, 2011

Would gasoline prices come down if offshore drilling were again allowed to expand?

Is it time to “drill, baby drill”?  If Obama lets up on offshore drilling again (forget what happened in 2010), will gas prices stabilize or come back down?

There is still a lot of debate on how much oil can be produced domestically in the US and Canada at $100 a barrel, and it seems that as soon as it starts, the price drops and domestic production stops and we revert back.

But, ah, there is the carbon footprint, and climate change.  But peak oil might be further away than we think. The conservatives (or at least the Ayn Rand crowd, especially this weekend) may be right on that one.  Watch out for Wyatt’s Torch.  (Go see the movie.) 

Picture: Arlington VA, near Ballston, Friday night.  Along Four Mile Run it was over $4 for regular. 

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