There’s a way to control gas prices

In the past, Saudi Arabia could cut its oil output to offset any increases from U.S. drilling. That’s not true if we double our oil production together with Canada.

Saudi oil output is 10 million barrels per day. We currently produce 6 mbd and Canada produces 2. Together Canada and the U.S. could produce 16 mbd. If so, Saudi Arabia couldn’t cut output by 4 mbd without creating social unrest: Saudi Arabia would have to keep output at 10.

Other OPEC nations such as Iran, Iraq, Libya and Venezuela must sell every drop they produce.

Fracking has revolutionized oil production.

Experts have said we — Canada and the U.S. — will increase output to 12 mbd by 2015 with fracking alone.

Couple that with opening the outer continental shelf, ANWR and federal lands to drilling, and we could produce 16 mbd.

It goes without saying that we would be in a better position to withstand the impact of a sudden cutoff of Mideast oil if we increased our production of oil, though increased production couldn’t completely insulate us from higher prices resulting from such a dramatic event. This is where the strategic petroleum reserve would come into play.

Our strategy should be to open up all our potential drilling sites, aggressively use fracking, and then drill, drill, and then drill some more. This would keep world oil prices from increasing as China and India increase their usage of oil. It’s also the best way to keep gasoline prices under control.

OPEC nations couldn’t survive if OPEC tried to cut its output in the face of this juggernaut.

I deal with facts and write for Power For USA. See www.powerforusa.com.

Donn Dears

Geneva