We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
MonteQuest
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Today's gas prices may not be wrecking the economy or even prompting dramatic changes in driving habits. But public transit agencies in Chicago, Columbus, Denver, Jacksonville, Miami and New York all report increases in ridership and say gas prices may be part of the reason. A Gallup Poll taken this month also found that concerns about the cost of gas rivaled worries about unemployment, jobs and wages.
