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Old 06-18-2008, 09:58 AM
areyoushittin'me?'s Avatar
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Oil is a commodity traded on the world market.

Most of the oil companies are international nowadays.

Yes, if we drill it, there would be more taxes in the coffers, however, due to subsidies the effect wouldn't be all that great if drilled here.

Still, we have limited supply and the problem is the vast recent increases in demand by other countries such as China and India.

World consumption is over 80 million barrels per day.

Saudi's could increase production by about 1 million barrels per day...

...that's what? About 1 and a quarter percent?

Figure it out.
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