Drill All Day, Just Know it Will Have Minimal Effect

As long as the conversation is about drilling the GOP is going to win it. Why? Because more drilling gives us more oil. What isn't getting told, because Democrats have no idea how to message, is no matter how much more we drill, we'll never be able to make an ounce of difference in world oil supply, which is the market that regulates prices. And besides, even if we did drill enough to offset what Saudi Arabia produces, or even a small producing country like Libya, OPEC would just cut back on their production stabilizing the world market to practically what it is today keeping prices sky high.

Sure oil speculators drive up prices because they pry on fear.  That doesn't change the fact the surest way to cut prices is to consume less oil.  At least that's how it works in a market-based economy.

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• No shortage of crude oil by OPEC (seattletimes.nwsource.com)

*Update:

Something else entirely that goes completely unmentioned in the oil debate is the American government subsidizes oil companies. Yes, the American tax payer subsidizes big oil companies with $4 billion a year in tax breaks.

These are corporations that make tens of billions of dollars in profit every 3 months.  And routinely they pay little to no taxes!  At a time when we are facing trillion dollar budget deficits and fighting two wars on two fronts, it is completely immoral to continue this path.

Meanwhile we are paying $4 a gallon for gas while Big Oil companies profit $10 billion per quarter and pay little to no income taxes on it.  To show how ridiculous this is, Exxon Mobile could cut the price of gasoline to $2/gallon and still profit about $5 billion a quarter.