In 36 Years Of Data, Not A Shred Of Evidence That Drilling Reduces Gas Prices

And as we drill and use up oil, there is less left and it is harder and more expensive to obtain.

http://thinkprogress.org/green/2012/03/21/449164/ap-fact-check-in-36-years-of-data-not-a-shred-of-evidence-that-drilling-reduces-gas-prices/

By Rebecca Leber posted from ThinkProgress Green on Mar 21, 2012 at 7:10 pm

Experts deny that drilling brings down gas prices, despite how often Republicans claim to have the “silver bullet.” Now, the Associated Press reports that an analysis of 36 years of Energy Information Administration data shows “no statistical correlation” between domestic oil production and gas prices.

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Domestic oil production is at its highest level in eight years. According to the AP, if drilling dictated gas prices, they should already be at the $2 Republicans promise. However, gas prices fluctuate based on a variety of factors, including speculation and tensions in the Middle East.

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