How low will gas prices go if we allow offshore oil drilling? And how long will it take?
Has there been any actual studies of what the price of gas would be in the US if we ramp up offshore drilling? Will it go down by .10 cents, or will it go down by or more. In other words, is it worth it? Should we spend the start up cost on just transitioning to alternate energy?
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March 14th, 2010 at 1:39 pm
It will go down about a nickel over the next decade at the best. It’s not going to have huge longterm effects except on the environment. Even if the US drilled all over the country we’d only have 2-3% of the needed national supply.