Re: “Drilling doesn’t lower gas prices” (TNT, 3-25).
The argument that revolves around whether drilling for more oil will lower gas prices is a distraction from what should be a major goal: the reduction of imported oil.
Since we must, for the foreseeable future, continue to import oil, it would seem to make sense to import from our friendly, Canadian neighbors rather than from the Middle East or other countries, like Venezuela, that view us less favorably. That should be sufficient reason to justify the Keystone pipeline.
Another argument against oil development in the U.S. revolves around the fact that some of our oil is exported rather than used here. Doesn’t it make sense that if you have an excess of oil in one place, you should sell it where you can? Doesn’t that bring money into this country? And isn’t that a good thing?
The price of oil is established primarily by the OPEC cartel. It accomplishes this by controlling output, thus ensuring prices remain high. While U.S. oil companies benefit from higher prices, they have little or no control over them.
It’s frequently said that oil company subsidies should be eliminated. It’s my understanding that they do not receive any subsidies; however, they do receive the same tax breaks as any U.S. manufacturing company. Isn’t that fair?
Let us develop our own energy resources, be it oil, natural gas, coal, nuclear, wind, solar or tidal power. And let those resources be developed as the free market determines, with a minimum of government involvement.