With gasoline prices rising again, many are asking what can be done to keep our fuel costs affordable. Dr. David Kreutzer, an energy economics expert at the Heritage Foundation, recently wrote a report on this issue, and offers this solution: “We need to drill. While not a cure-all, allowing new drilling in the gulf of Mexico and elsewhere would help moderate prices. This is simply the law of supply and demand. However, despite the majority recommendation of its own scientific panel, the Obama administration has stopped virtually all new drilling in the Gulf of Mexico. The administration should reverse this policy so we can start producing more oil at home and be less vulnerable to petroleum price hikes.”
February 28, 2011 by CFACT,
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