Gas Prices at $2.50 in a single day
How you say?
Foxnews "The Five" mentioned this simple solution quite sometime ago.
There are several mixtures of fuel that our Oil/Nat Gas companies have to mix up on their own expense before they can sell it to gas stations in various parts of the United States. Which means the fuel mixture you get in California isn't the same as Mississippi or Michigan or etc... Then of course there are the seasonal mixtures throughout the year that add to that.
Why on EARTH would an Oil/Nat Gas company spend GOBS of $$$ creating 36 mixtures of fuel before they can then be allowed to sell it, when they could just ship and sell it over seas to China?
So the soluton is sto standardize all of these mixtures to a single mixture that only changes seasonally.
Once that is done then yes $2.50 a gallon gas is achievable.
Of course toss in off-shore, on-shore drilling and you drop the prices further. Throw in Keystone Pipeline and Drilling in Anwaar and prices will be extremely cheap. Expand horizontal drilling techniques and again....even better.
But, I believe a single legislative action done over night to standardize the fuel mixtures would dramatically drop the price of the fuel.
Above is an nice article on the subject of Gasoline Reformulations of which AT LEAST 18 reformulations existed in 2002 and many more reformulations occured since then, especially under President Obama.
So the next time you see $4.00 gallon of gas, you can ask yourself why when President Obama is declaring "This is not my fault" is he not bothering to fix it?