America’s hooked on oil, but more drilling in the Gulf of Mexico won’t drive fuel prices back down, as Republican political activists try to claim :-
US production is only a small percentage of world supplies – and this won’t increase significantly even with more homeland drilling.
Gasoline prices are going to remain vulnerable to global events, global markets and global nerves.
The oil production companies that operate in the American market are quite happy to maintain higher prices for fuels. Think about it.
If the Americans want to fill up their tanks less expensively, what’s really needed is to consume less oil – and that means using smaller, lighter cars with higher fuel efficiency.