How high will gas prices go before we start drilling for our own oil?
We do drill for our own oil. The thing is, the easy oil was tapped out a long time ago, so prices have to get pretty high before it’s worth it to run an well in the US. As prices go up, though, pumps are brought on-line. America doesn’t have huge reserves, though, and there are some that argue that it makes strategic sense to tap those reserves only when imports are unavailable.
