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In response to the March 5 letter titled "'Drill, baby, drill' will not lower gas prices," I am pleased that others are investigating the high cost of oil.
Gasoline was the largest export from the U.S. in 2011, for the first time in 62 years. Our U.S. refineries can produce gasoline from all the oil we produce and import, and still have some to export.
But while we are the third largest producer of oil in the world, we still import 49 percent of our oil from other countries. So by drilling for more oil, we would increase the supply of oil, and hopefully reduce the cost of oil (it has worked for natural gas).
In any case, it would definitely have the positive effect of making us less dependent on foreign oil, particularly from the Middle East.
Complicating the cost of gasoline are the speculators buying futures and betting on the rise of oil prices. At one time the oil futures were regulated, but in 2000 it became legal to buy outside the regulating agency, and opened it up for investors to buy over the counter.
It is disappointing that our elected "leaders" have no apparent plan for energy and just blame others for higher gasoline costs.
I will be looking for candidates in the upcoming election who can articulate a realistic energy plan.