Will oil drilling lower gas prices?

I am doing research on oil drilling, but it's really hard to find a straight answer. Someone help!!!!Will oil drilling lower gas prices?
Economists say that more drilling in the US would have only a minor effect on oil prices (pennies). More drilling around the world might have more of an effect -- nobody knows because there are too many factors involved and nobody knows quite how much oil we can take out of the ground -- many major fields are tapped out and more to the point, governments have nationalized most oil drilling and they don't get as much out of the fields as private companies would.Will oil drilling lower gas prices?
As gas prices fall lower and lower there is no incentive for new oil wells to be drilled. The economy has tanked and therefore demand for oil and gas has tanked with it. This has caused prices to plummet during the past year. As long as prices stay low don't look for any new wells to be drilled.
depends on who does the drilling,but yes if there is more oil,then there is more supply which means lower prices. but you also need more refinery space to get gas supplies up. you need new oil companies to spring up and take lead if you want lower prices,plus you want more domestic oil,keeps money in our own country
The biggest problem is that even if we drill it has to be refined. The U.S. hasn't built many refineries in the last few years because of the tight resections. The ones we have built are in areas to susceptible to hurricanes. Building in Alaska can be a problem because of the extreme cold makes it a difficult process.
Not necessarily. What domestic drilling will do is put more oil on the market. The other end of the equation is whether demand increases, decreases, or stays the same.


Hopefully, we allow domestic drilling not to lower oil prices, but to move away from OPEC.
No high oil prices are not the result of supply and demand, they are the result of speculation and price gouging.





Funny how prices have come down but supply and demand have change little, it is because the gougers knew we were on to them.
good job edna..you are one of the few that actually pays attention !!!!





it's the speculators that regulate pricing...then comes supply and demand...but it's way down on the list. Drilling will do almost nothing to change oil prices....
gas car's have been out of date for over 50 year's. there was a car that was made in the 70's or 80's that ran on water Liquid Oxygen and hydrogen split from water. was the Fuel.
yes. Why? Because if no one drills, prices go up up up .
No.