Its all about supply and demand. Demand is outstripping supplies right now. Coupled with a weak dollar, the price is extremely high.
If we drill, the oil can be brought to market and there is extra supply which will drive the price down. If we open up the drilling, I am all for making it a requirement to use it first in the USA before being sold. But if we get huge inventories, the oil companies should be able to sell it on the open market or to our allies.
Your being sold snake oil if you believe the alternative fuels are the answer. The real cost of a gallon of ethanol laced gasoline is more like $6 a gallon if you take away the subsidies. Hydrogen or CNG fuel are the only real alternatives in my eyes, but the distribution network will take 15 to 20 years to build.
So until we have that in place and affordable Hydrogen and CNG vehicles, we are going to have to rely on oil.
· 1 decade ago