This useless gesture would result in only a tiny percentage of savings. The savings would be much more than the weekly variability in the price itself. Who would notice it? Furthermore, the oil companies, which (already receive their inexplicable multi-billion dollar subsidies) would simply jack up the price, because the market has already proven the prices people are willing to pay. The government would have to collect these taxes in another way (since tax cuts do not equal spending cuts).

In other words, it's a worthless political ploy before voting season.

Woops, I meant to say "the savings would be much less than the weekly variability"

I got it..Thank you for your answer.

It is a joke that isn't funny. Drill !!!!

Maybe.....I'm not sure on this one....on the one hand, I can see where this looks "politically correct" and a political move- on the other, ANY kind of help would be good at this point....

We need to lower the price of oil, We need to exploit our own resources, the price of oil will fall like a rock just at the notion of the US drilling for our own, this action will also help strengthen the dollar which will cause the cost of oil to come down even further. That's a start.

It's a political band aid, designed to give incumbents who vote for it leverage. Those who don't vote for it will have it used against them.

Exactly. This is how insane legislation gets passed--because of how it sounds, rather than what it does.

So in otherwords, it's "politically cool" because it looks "politically cool" and nothing else?

At this point, anything is better than nothing and every little bit helps.