conversationpc wrote:I don't think the price would go down as much as he thinks it would but I do think those ideas would help substantially.
If the President released 1/3 of our Strategic Oil Reserve into the market you wouldn't believe how fast the price of a barrel of oil would tank...and yes the speculators would get burnt BIG Time...
If they would have opened ANWAR in 1998 there would be an (estimated) 1 million barrels per day more oil in the supply chain, and that is JUST from ANWAR.
We do need to develop the alternative energy ideas too. I drove a Prius out in California last week and it was AWESOME getting 50MPG. ALL cars should be getting that now.
Newt has it right on every point and if ANYTHING is underplaying how dramatic the drop in prices would be from #1 and how much #2 would help.