Letter: Global Oil Production Has Little Impact On Oil Prices

Domestic drilling also doesn't cut gas prices

   

In regards to your “Home Drilling Does Little to Lower Gas Prices” post today on American Breaking Point, excellent read. Thanks!

I thought you might find the charts and commentary found here of interest:

NYT oil Letter: Global Oil Production Has Little Impact On Oil Prices

 

While the commentary takes a bit more of a political spin the charts themselves make it quite clear that global production has little impact on price movement, that drilling more at home didn’t lower prices, and that the global prices move in tandem regardless whose in office.

– Mitch Gurney, Vallejo, CA

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