Thursday, December 30, 2010

Oil exploration: America is being left behind

Fuel prices keep going up. Why? There is less drilling going on here. I wonder if that oil rig, which I drove past after driving west from Wichita three years ago, is still pumping oil?

The harsher than usual winter in the Northeast is another strain on oil supplies. Most homes are heated by oil there.

Meanwhile, a de facto ban on new oil well permits in the Gulf of Mexico continues.

Yes, we could be looking at $5-a-gallon gasoline prices soon. Meanwhile, the Wall Street Journal (paid registration required) reports that outside of the United States, energy firms are planning to aggressively explore new sources for oil.

America is being left behind. And we'll be paying for it at the pump.

More change I can't believe in.

Related post:

$5-a-gallon gas coming?

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