The Case for More Drilling
Proponents of drilling more said gasoline prices would drop. Without government assistance, more drilling did take place – oh, baby, did we drill. Sure enough, natural gas prices dropped, but gasoline prices remained elevated. This conundrum is teaching us some important new lessons, which may shape how we proceed toward energy independence.
First, the nation is already energy independent in two sectors: electricity and natural gas. For the last decade, most of the nation's electricity has been produced from domestic sources, so there has been very little oil generating our electricity. The same is true with natural gas. With the recent drilling boom, most of the nation's natural gas is produced from domestic sources....445 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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