Gas prices at the pumps

[joeksr]

OK.
I'm no economist. Don't really understand what drives the price of fuel at the pumps. I have read any number of posts here about why fuel costs so much and how drilling our own won't have any effect for 10-15 yrs.

But.
President bush removed the ban on drilling.
Still can't drill (Til, If and When, maybe when hell freezes
over) The DEMOS and EcoTerrorsists say we can.
Price at the pump has dropped $.50 in a week.

Anything else happen that I don't of ?
Does it cost less to drill, pump process and deliver the fuel
to the pumps this week than it did last week ?
Is the fuel in the storage tanks going bad and they have to
get rid of it fast ?
Are the oil cartels lowering the price of fuel to support the
poor Jananese who can no longer afford to run their boats
to kill all the tuna ?

Would someone with much more knowledge about these things please explain to me why the cost of Gas at the pump has dropped $.50 a gallon in the last week ?
Looks like simple cause and effect to me, but what do I know.

Can't be because the president lifted the ban could it?
Are the folks in charge of oil gettin scared ?
Are they losing sleep, having nightmares that america just
might become independent of them?
Did all the speculators bail out? Did they go broke ?
(maybe they can get welfare so we can still support em).
Was some law passed that we all have to drive Hybrids?
(Try pulling your boat with one of them).
Maybe we all cut back so much they lowered to price to get
us to use more ?

IMAGINE, What would happen if we actually started drilling.

[seapower]

Not trying to be a smart _ _ _ here,but I've kinda come to the conclusion you're either gonna drive or walk. They win unless we simply stop buying the product (same thing with imports we keep complaining about). I see were gas is coming down a little. I put fuel in my truck last night, it's over .75 a gallon higher than gas. The problem is diesel is less refined than gas, so it should cost less. Like it or not we are getting screwed plain and simple. I've got some sure fire way's to get us out of this "Oil Mess", but they are not very politically correct. Frank

[Tuna Tyme]

What would happen if we started drilling:

1 Exxon would have made 18 Billion in three months not 11
2 the fishing around the rigs would be out of the world
3 trade deficit would go down from all the new exported oil
4 will they sell it to us at a lower cost the China NO
5 As long as the price is set on wall street it will be high
6 Maybe the west coast of florida will soon look like Oil City Texas with the new Refineries, or what about inshore of Nags Head with all the rigs on the 50 line. I would love to be able to work shut down in NC then smack some Wahoo next to a rig. lets keep pushing maybe it will happen.