Quote:
Originally Posted by gimpy117
but the thing is, how will domestic energy production help unless wall street reduces it's prices on the commodities market? We can make all the crude we want here, and unless the price per barrel of oil goes down on th market we'll just have a lot more gas priced over $4.00 a gallon. Team R keeps saying drill baby drill, saying it will lower prices, and while thats a ice thought it's not that simple, especially was oil prices ignore supply and demand.
but yes Armike, the subsidies are totally unnecessary in todays market.
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A lot more gas will help keep prices down a little but at least some of the money will stay here instead of going to foreign interest. Some of them don't like us very much.
Oil does follow supply and demand as the recent big drop in price during the recession proves. 2007 or 08 oil was well above $130.00 a barrel. During the recession it went to well below $100.00
Gas was above $4.50 and dropped to about $3.00
Two Billion dollars/year deduction divided by five oil co. will not amount to a hill of beans. They only pay a small percentage of that in taxes.
It's a deduction not a credit.
This whole thing is a feel good sham.
Magic