I’m hosting Local Edge Radio today (Updated)

I’m in the driver’s seat. I’m going to be talking with David Weiss of the Center for American Progress about oil prices. I will also chat with Professor Andrew Koppelman, the John Paul Stevens professor of law at Northwestern, who will be in the house to talk about the Health Care law. Finally, I will spend most of the 5 o’clock hour to talk about Trayvon Martin. You can call in – 828-252-4348.

More from ThinkProgress.com:

Experts deny that drilling brings down gas prices, despite how often Republicans claim to have the “silver bullet.” Now, the Associated Press reports that an analysis of 36 years of Energy Information Administration data shows “no statistical correlation” between domestic oil production and gas prices.

AP writes:

U.S. oil production is back to the same level it was in March 2003, when gas cost $2.10 per gallon when adjusted for inflation. But that’s not what prices are now.

That’s because oil is a global commodity and U.S. production has only a tiny influence on supply. Factors far beyond the control of a nation or a president dictate the price of gasoline.

When you put the inflation-adjusted price of gas on the same chart as U.S. oil production since 1976, the numbers sometimes go in the same direction, sometimes in opposite directions. If drilling for more oil meant lower prices, the lines on the chart would consistently go in opposite directions. A basic statistical measure of correlation found no link between the two, and outside statistical experts confirmed those calculations.

Just spoke with Andrew Koppelman. Great conversation. I’ll have an update a little later on tonight.

We are currently talking with Barry Summers of Save Asheville Water. We are talking about ALEC.

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One Response

  1. Look at refinery figures for Jan. 2012 – Feb 2012. Yes, the rig count is up, but many U.S. refineries are operating at severely reduced capacity. 1.) It is typical for refineries on the Gulf Coast to shut down sections of their operations this time of year to perform maintenance prior to the heavy, summer “driving season”. 2.) Many refinery operators have been “flagged” by the EPA and required to upgrade the refineries, at a cost of hundreds of millions of $. Instead of doing this, many have merely shut down entire sections of the operations. 

    We saw this in the domestic steel industry in the 1970s and 1980s with the result being that Japan, mainly, who had poured the development $ into their mills, were up and running at full capacity and wrestled much of the world market away from the U.S.. This, as you know, led to the eventual demise of Bethlehem Steel and many of the other big concerns. 

    Theoretically speaking, much of the same is going on in the domestic oil industry. It is time for these folks to “bite the bullet”.

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Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

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