Why All the Gas Price Stability? Try Looking at Domestic Energy Production

Why All the Gas Price Stability? Try Looking at Domestic Energy Production

Michigan State University | February 23, 2015 | by Dennis Pennington

With all of the recent geo-political unrest in the Middle East, consumers around the nation may be wondering why gas prices haven’t sky-rocketed the same way they did back between 2004-2006. The cause of this stability is directly connected to the fact that our nation has increased its domestic production of crude oil and ethanol. The increased California energy production has caused our nation to be able to decrease its dependency and reliance on foreign oil. Alongside our increased energy independence, Americans have also taken to more fuel-efficient vehicles and have begun to drive fewer miles. The combination of production and policies in the United States are not only having a positive impact on the economy, but it has also begun to loosen the hold of foreign producers. Domestic energy production is really the only way to keep gasoline prices from running rampant the same way it did a decade ago.

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Californians for Energy Independence is a coalition that supports state and local policies that allow for continued domestic energy production and opposes those policies – such as oil taxes and energy bans—that would hinder production and increase reliance on foreign oil.

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