GAS PRICES ?

KD4UPL wrote:
It amazes me how many people choose to look anywhere except for basic economic principles when talking about economics. Conspiracy theories, rouge nations, evil government, evil corporations, etc., etc.
It's all about supply and demand. The US used to be a huge importer of oil. Mexico, Venezuela, and the Middle East sold us a lot of oil. Thanks to new discoveries of oil in the Dakotas and new drilling techniques to get it the US doesn't need to import as much oil anymore. When supply goes up and importing costs go down the price of petroleum products goes down. Oil production in this country is greater than it's ever been, largely thanks to the oil boom in North Dakota. It's basically the "drill baby, drill" philosophy that was made fun of by the left several years ago. The oil companies have indeed been drilling and prices have dropped. OPEC isn't happy about loosing market share so their dropping prices trying to keep selling us oil but we just don't need to import that much anymore.
If the Keystone pipeline gets built I would bet prices will go even lower because now the transportation costs of oil will be even lower. Domestic economic development, engineering, use of our own natural resources, etc. are leading to improved economic conditions. If more people understood these things we wouldn't be in half the economic mess we are in this country.