President Donald Trump’s fervent push for more domestic drilling appears to be spurring some rather serendipitous side effects in gas stations across the country, where oil prices have been steadily dropping.
According to Bloomberg, these drops in gas prices trace back to a increase in U.S. drilling and a slated reopening of Libyan crude ports. The result has been a drop in oil prices, which translates to a drop in gas prices.
U.S. oil this month dipped below $50 a barrel for the first time in 2017 as near-record U.S. stockpiles and rising output weighed on the production reductions by OPEC and its allies …
U.S. drillers boosted the rig count by 14 to 631 last week, data from Baker Hughes showed. They have added 106 machines to fields this year. The nation’s crude output has climbed to 9.1 million barrels a day, the most since February last year, according to the Energy Information Administration.
Considering that oil and gas prices have been dropping since 2014, however, it would be unfair to attribute recent reductions in price solely to President Trump.
Still, the underlying point remains that so long as Trump continues to open up drilling across the nation, including on federal lands, it is likely that oil prices will continue dropping literally everywhere: in Georgia, in Tennessee, in Oklahoma, etc.
As noted by the radical leftist blog Mother Jones, “Donald Trump wants to drown the world in oil” by repealing any regulations that stand in the way of accelerated drilling. Of course, this is a good thing, though Mother Jones tried awfully hard to make it seem otherwise.
Reuters: Oil falls as investors cut bullish bets on worries over U.S. output
WDEF: Gas prices keep falling as spring break approaches
Naples Daily News: AAA: Oil plummets; gas prices could fall 5 to 10 cents
Oil makes the world — i.e., the same world inhabited by leftist lunatics — run, so more of it would be a good thing, would it not?
Plus, the sort of offshore oil drilling envisioned by the president actually leads to fewer environmental problems and disasters than importing oil, according to University of California at Santa Barbara political science professor Eric Smith.
“There are three problems with importing oil: First, spills from tankers and barges are the largest human-caused source of oil in the oceans,” he wrote in an op-ed seven years ago for The Washington Post.
“Second, the countries from which we import oil have lower environmental standards than the United States has … Third, shipping oil to the United States requires burning a huge amount of diesel oil, the exhaust from which is greenhouse gas pumped into the atmosphere.”
Bing, bang, boom. Oil is good, and drilling for oil is even better.
And would you like to know what’s best?
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