The AP analysis used Energy Department figures for regular unleaded gas prices adjusted for inflation to 2012 dollars, oil production and oil demand. The figures go back to January 1976, the earliest the Energy Department keeps figures on unleaded gas prices. Phil Hanser, an economist and statistician at the energy consulting firm The Brattle Group; University of South Carolina statistics professor John Grego; New York University statistics professor Edward Melnick and David Peterson, a retired Duke University statistics professor, looked at the analysis, ran their own calculations, including several complicated formulas, and came to the same conclusion.
When U.S. production goes up, the price of gas "is certainly not going down," Melnick said. "The data does not suggest that whatsoever."
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Nuclear fuel, hydroelectric project, and natural gas are some of the most predictable and inexpensive forms of alternative fuel.
Solar and wind is expensive and/or unpredictable in the US. We should look to Germany, which is on track to More..
I have been posting this explanation for a long time now. Drill, baby, drill may produce jobs, but it will not lower the price at the pump nor will wean us off of oil dependence. Oil, as the story notes, is a commodity sold on the market. And More..
@ David
The fuels you favor – nuclear, coal, natural gas, etc. – all receive massive subsidies from the federal government. Indeed, nuclear is the worst, with subsidies from start-up (check out how Utah’s proposed More..