The Republicans promised that if the USA could just produce more oil, the price we pay for gasoline at the pump would go down. Drill Baby Drill, they urged. The Republicans lost with this argument in the 2004 and 2008 presidential elections, but Barack Obama
In the 2008 elections, the old oil economy was rejected by voters, who supported candidates promising a new focus on sustainable energy. Why, then, are the Democrats in Congress now acting like Republicans, and supporting dirty old energy interests?
Big oil companies have said that increased oil drilling and oil refining capacity are necessary for a reduction in the price of oil. Nonetheless, here we are with a significant, rapid decrease in the price of oil without those conditions. How has it happened?