Oil drilling has some effect on gas prices

The Associated Press story (March 22) is misleading at best. The Fact Check headline, “More U.S. drilling didn't drop gas prices” exacerbates the illusion. The story leaves one with the impression that any additional oil production here is ineffectual. That conclusion is not correct for several reasons.

Oil usage worldwide has increased dramatically, particularly in large developing countries like China and India, and, because oil is fungible and priced according to supply and demand and, while production in this country is not likely to have a large impact on world prices, any increase in oil production anywhere increases supply and has at least some impact on world prices.

Any increased production in this country provides needed jobs here.

Oil produced in the U.S. aids in keeping money here, decreasing our international balance of payments deficits.

Oil imported from foreign producers adds to our costs because of transportation expenses.

So, while the “Fact Check” story might include technically correct information, the conclusions drawn might coincide with the “fact” that worldwide increases in corn production over the last 10 years have not lowered the price of corn.

Dick Roggensack

Waukon