Can department of Commerce or energy be involved with lowering the price of crude oil prices in U.S? If so How?
- 6 years agoFavorite Answer
The government can easily lower the prices of all fuels by charging 1) less tax at the pumps, etc., 2) less money for Applications to Drill - which went from $50 per application in 2006 to $6500 per application by 2010. The oil and gas companies pass on all THEIR expenses to we, the consumers. Have you noticed on your bills the charges for various taxes, charges for transportation, taxes for states, counties, cities, etc., all sorts of fees involved. Every year the companies "ask" for an increase in prices due to THEIR "increases". I have NEVER seen a time when they have not received whatever they ask for. The federal, state, and local governments are the MAIN culprits in the high prices of EVERYTHING!!!!! The USA also sends a whole LOT of unrefined oil and gas products to China, Japan, and numerous other countries overseas. We do not have the capabilities to refine these products due to EPA laws, which are only getting worse!!!Source(s): 30 Years in private and federal energy departments.
- Larry PhischmanLv 76 years ago
Oil prices are kept high by oil speculators, not the government.