OPEC. So no matter how much “we” drill, what we pay at American gas stations remains unaffected.
it’s true if we drilled more oil in America and it was sold to
Americans, OPEC would not make any money from Americans (except where
OPEC nations have invested in American oil companies), OPEC nations
would still sell their oil to everyone else in the world, still reap
unbelievable windfalls week after week, still have money to influence
our government, Saudi Arabia would still have plenty of money to spread Wahhabism,
OPEC would still control the price of oil, and the American economy
would still be vulnerable to the capricious and hostile whims of OPEC
Oil’s worldwide monopoly on transportation fuel would remain unchanged.
Drilling “our own” oil would improve America’s trade deficit, and it would generate
American jobs. But if it doesn’t lower gas prices, if it keeps us stuck
as a one-fuel economy, if it keeps our economy stuck riding the ups and
downs of OPEC’s whims, and if it keeps the money flowing to OPEC from
the rest of the world, drilling more is only a partial solution at best.
Fuel competition, however, is a complete solution. It will solve all those problems and more.
Read more: Drill Baby Drill.