I can't figure out why Republicans think if more oil were found here the price would go down. They can't possibly be that stupid.
Supply and demand?
Can you show me any example where more supply has been found, where it actually affected the price of oil in a downward motion?
Honestly, I have not found one.
there have been HUGE MEGA FINDS of oil over the past decade and not a one, NOT ONE increase in supply from these finds has lowered the price of oil/gasoline.
It should work the way you propose....it should lower the price if more supply is found, BUT IT HAS NOT.
Now the only legitimate reason I can think, of why it has not, could be that no matter what they find, it can't keep up with the rising demand?
Under President Obama, we in the USA have increased our supply greatly...yet, no decrease in prices....instead oil and gas companies are exporting the excess oil and gasoline?
Are you aware of this? What do you think is going on here Quantum?