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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Publicly, U.S. airlines are wringing their hands about rising
fuel costs and using the continued spike in oil prices to
justify each round of fare increases and new charges for
former freebies like seat selection or checking a second
bag. Many carriers claim consolidation is the only viable
option to survive escalating operating costs. But
privately, higher oil prices may be the cause of great
jubilation in some airline board rooms. In the long run,
some U.S. airlines could benefit substantially from a
protracted fuel price crisis, and they may be some
airlines you'd least expect.
