Location: Pantego, Texas, United States

Thursday, October 23, 2008

The United States consumption of gasoline is about 390 million gallons per day. A reduction in pump price of 1 cent per gallon represents an addition of about $1.4 Billion per year in the pockets of Americans. A reduction of $1 per gallon would be over $140 billion per year, the bulk of the money going to lower income people. So why do the Democrats oppose efforts to increase oil production by the US? Such production has enormous benefits for the United States. For one thing the royalty payments to the government would be good. Second, the reduction in price of oil resulting from an increase of production in the US of even 2 million barrels per day would have a negative impact on the economies of Iran, Venezuela, and Russia who are adversarial towards us, and would
also reduce the income of Arab states who do not wish us well.


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