“Drill, Baby, Drill” or “Lies, Baby, Lies”


The Republicans are at it again- claiming that the way to lower prices at the pump is to increase domestic US production. This despite the fact that production is at its highest level

Sp the Associated Press sat down and analyzed the data going back 36 years. And surprise, surprise- there is no correlation. In fact, some of the eras of highest production  saw the highest prices at the pump, and some eras of lowest production saw the lowest.

“Since February 2009, U.S. oil production has increased 15 percent when seasonally adjusted. Prices in those three years went from $2.07 per gallon to $3.58.U.S. oil production is back to the same level it was in March 2003, when gas cost $2.10 per gallon when adjusted for inflation”

Seasonally adjusted U.S. oil production dropped steadily from February 1986 until three years ago. But starting in March 1986, inflation-adjusted gas prices fell below the $2-a-gallon mark and stayed there for most of the rest of the 1980s and 1990s. Production between 1986 and 1999 dropped by nearly one-third. If the drill-now theory were correct, prices should have soared. Instead they went down by nearly a dollar.

 

The data can be found HERE and just one of the news stories discussing it here

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About drugsandotherthings

I am a criminal. Because I have used cannabis and psychedelics extensively. I have tried many other drugs, but never cared for the uppers, downers, or dissociatives. I love craft beer, and absinthe, but don't care much for alcohols effects- which quite frankly, are boring and dangerous. Science is my religion. I am in my 40's, and have travelled extensively. And often forced myself outside of my confort zone. I am employed, a respected member of my communtiy, an animal lover, an environmentalist, a political junkie, and the realities I have experienced continue to push me further to the left of the political spectrum.
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