If we get Oil down to $2.50 a gallon in 30 days our economy is fixed. If I remeber correctly we have about 50 years worth of oil reserves without even using most of Alaska for drilling. Start off shore drilling now and in 5 years we can put it back.

It absolutely time for the US to change its drillling policies. We have reserves available if we would only drill. Depending on Arab oil is foolish at best. If we go into an aggressive drilling program in a few years we could become oil independent. the price would drop significantly. at the same time we must develop reliable alternative fuels that are less expensive and renewable. Hydrogen is the most logical. It the most abundant potential fuel available that burns clean and is totally renewable.

We have to demonstrate a willingness to act in our own interest.Just declaring that we are aggressively developing our own oil reserves as well as nuclear and all alternatives will slow the price speculation.We may have to establish a "floor' for oil, for example a 1980 equivalent pricing of $90.00 a barrell $3.00 at the pump to let capitalism and themarketplace take off.Any difference in the price paid and the floor can go into tax credits to incent changing the fleet etc.

If the US used its military to build windmills out in the sea of high wings then we would have enough electric to heat our homes and run electric cars. making oil obsolete!! then we don't need oil anymore regards Joseph

We need to become self reliant again. Or, we could attempt to trade with, not instill fear in, other nations that could give us more oil than we could use if only we didn't play god in the middle east.

It's a sad day when Americans are duped into fear and financial depression over a nation defending herself, not even on the scale we do.

Obama, would not drill for oil if president. How can this guy be taken seriously, when we are 20 or more years from benefiting from all the other alternative energy sources? My understanding is the so called climate issue in regards to drilling offshore and on the continent, is the reason. Drilling has never been cleaner or more efficient.

Coal can be gasified for half the price of middle Eastern crude, yet Obama and the Democratic party is blind to what makes total sense. They have sold their souls to a nebulous and iffy science, the yet proven man caused global warming condition.

Obama and his party is thumbing their noses at the majority of Americans demanding we become energy independent. Shameful. I thought they worked for the majority of Americans? What a do nothing, arrogant bunch!

Stan, you comment that: "If we go into an aggressive drilling program in a few years we could become oil independent." Are you saying this out of blind faith and uninformed hope? Or are you accessing some erroneous data. A couple hours search of mainstream reporting should be enough to convince you that there is no way on Earth that we can ever become oil independent by drilling reserves in American territory. We currently use about 21 million barrels of oil a day and produce about 8 million a day. At this time even oil-connected people: the CEO of Chevron, T. Boone Pickens (a fairly conservative man, I'm told), the IEA pronounce the death of the idea of drilling ourselves to energy independence. Tom Evslin at this site http://blog.tomevslin.com/2008/06/if-i-cant-have.html , makes the point well: we need to accept and promote any number of concurrent strategies to work our way to energy independence, and though drilling the costal areas and ANWR may be one, one will not do the trick, and none will do the trick in a few years.

Wow, how many off-base comments in one comments page? "Coal can be gasified for half the price of middle Eastern crude?" There is no price for middle Eastern crude except the price of oil on th eworld market. We can "gassify" coal but, if you think the lack of refinery building over the last 30 years is bad, try to finance a gassification plant. Then finance as many of them as there are current refinerys. Maybe in thirty more years. And can it be done for $70 a barrel?

Capitalism and the free market as regards a floor for the price of oil? This is an oxymoron of the first water. Government control through price floors works in Germany and much of Europe. Not much of a free market thing, though.

"If we get Oil down to $2.50 a gallon in 30 days our economy is fixed. If I remeber correctly we have about 50 years worth of oil reserves." I suppose you mean gas at $2.50 a gallon; oil at $2.50 a gallon is $105 a barrel, a great improvement, but not an economy fixer. Do you suppose oil will hit $105 by mid-August?

How about taking away the ethanol subsidy that our gov gives to the U.S. makers, take away the tax on foreign ethanol imported, reverse the law mandateing that only corn be used for ethanol, and you'll knock 1.50usd off a gl of gas and reduce your food bill as well. But that's really not the point we must not bury our heads in sand thinking if we do no harm to others, they will stop lusting for our blood. Isreal would be the testing ground of Iranian missiles but the great satin the ultimate objective. So no matter what; there will be a confrontation with Iran, unless they are denutered by someone else. Yes the sabre rattleing has taken its' toll on the U.S. consumers so has refilling the strategic reserves while doing this, and giving the govn of Florida a pass on offshore drilling. How many Katrina type failures have we had were before or once upon a time, we were quite capable getting things done.