What's hilariously predictable is that when gas prices rise into the $4/gallon range, Republican politicians invariably cry out for more and more oil drilling here at home. It sounds like an easy fix, right?
Except they're ignoring several important facts when they make their pleas:
With US consumption of oil at 25% of the global total, and reserves at 2-3% of the global total, we will never be able to drill our way to energy independence.
The time lag between being awarded a lease and bringing oil to market is on the order of 5-10 years, at best. According to the NY Times, tripling production here could result in lowering prices at the pump by 3-5 cents--in 2030.
The current pitch for drilling in the Gulf actually lowers safety standards below what they were before the BP spill.
Any oil drilled in the US goes into the world market, and is as apt to be used in China or India as here at home.
Most of the easily accessible oil has already been tapped. Now they want to go into ecologically sensitive places that could be forever ruined, in hopes of making a few more bucks' profit for the already filthy rich oil companies.
Lest anyone doubt what their real priorities are, keep in mind that we taxpayers continue to shell out billions of dollars in subsidies for companies making the biggest profits in the history of the world, because Republicans have blocked any attempts to roll those subsidies back. We the people are paying more in taxes to help the profits of oil companies. And Republicans are supposed to be the low-tax party? Give me a break.
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