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How
to Solve the Debt Crises |
national debt
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4.
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America
Must Allow for More Drilling for Oil and Building of Refineries
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| By opening more areas in the United States to oil drilling - specifically Alaska- it gives income to the United States through leases to drill oil as well as if America could sell oil to foreign countries. This will also increase the oil supply - the law of supply and demand and speculation will cause the price of oil to drop. Currently - Americans spend $400 to $500 monthly for gas. The price of gas is currently down - because of the recession and people not working. It is the law of supply and demand. With people not working and driving to work - the demand for oil is down - so the price is down. If the economy grows (jobs are created) more people will start working and driving to work. The demand for gas will increase - therefore gas prices will go up and hurt the economy. It is one bad cycle. Now is the time to drill for oil. If the price of gas was so low that families spent $100 a month on gas - it would give the American family $400 to $500 a month in additional discretionary spending money. Money to spend on eating out, clothing, entertainment and not on gas. This would cause an upswing in the economy and a multiplier effect would occur as people spend money - business grows - more people work and then they spend money causing even more growth in the economy. |
