Demand demands attention
With soaring gas prices, along with the lie propagated by pro-drilling factions that increased domestic production will offer significant relief, 69 percent of Americans now favor increased offshore drilling, up 20 percent since last year.
Oil prices are set on the world market, influenced by world supply and demand, world events and a great deal of market speculation. Can we really flood the market with enough oil to effectively influence the price? Wouldn’t we have more clout by reducing our demand, the largest in the world?
Profit will always be the primary motivation for oil companies and their pro-drill lobby. Their position has never wavered. They drill not to reduce the price of oil, but to capitalize on it. Who it is sold to is insignificant.
To be sure, domestic oil production is an important piece of our overall energy strategy and there are economic benefits to be considered. But, while proponents of accelerated offshore drilling consistently promise relief at the gas pump, the news media consistently fails to report the truth about the effect, if any, on retail prices. That failure, and people’s short-term memory, has resulted in this renewed support for offshore drilling.
Joel Gassaway
Kettle Falls, Wash.