Drill Here, Drill Now, Pay Less
It is beyond axiomatic that the solution to our dependence on fossil fuels is not to be found solely in tapping additional sources of fossil fuels. Nonetheless, it is also apparent that the solution, which will necessarily be multi-faceted and involve a fair amount of societal change, will not happen in the short run (i.e. next ten years). Accordingly, it seems that tapping additional sources to buy time to bridge to the long-term solution makes sense. It makes sense from an economic perspective, as energy costs are a supply side item, and lower supply costs are a boon to the economy, as well as from a national security perspective, money to the Middle East, or Venezuala, funds those who would rather see this nation perish. So, I join the many who say “Drill Here, Drill Now, Pay Less!“
Filed under: Economics & Taxes • Energy • Mark S.
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Drill here, drill now may indeed help ease VERY slightly our dependence upon foreign oil. But it will not mean we pay less.
The energy department tells us that MAYBE we could see some more oil from offshore drilling in 10-20 years and that MAYBE that will result in paying a few pennies less per gallon. IF things go well.
Reducing our consumption is the ONE surefire way of reducing our dependence on foreign oil AND it is the one sure way of saving personal dollars.
Don’t believe the hype though. Offshore drilling is no money saver at the pump. Not in any significant way. And selling it as a way of pandering to people’s desire to pay less at the pump is only a way of feeding an addiction and does not help discourage that addiction.
Let’s drill, drill, drill…in Minnesota first.