WJR recently asked Jay Young to come on the air in Detroit, MI to discuss the surge in gas prices. Young is a fourth-generation oil and gas professional with years of experience in the United States. Kevin and Tom of WJR addressed the frustration of many business owners and drivers due to the high cost of gas, which Young attributed to the lack of support from the Biden Administration for drilling in the US. He notes that companies like Exxon and ConocoPhillips are making billions of dollars and would normally use that money to drill for oil and gas in the US. However, since they lack support from the government, their supplies are going down, while the demand for oil and gas continues to rise.
Young proposed that the government should provide support for drilling in America rather than seeking oil and gas from foreign countries. He said that the less the country is dependent on people like OPEC, the better it is. When the supply of domestic oil and gas is adequate, gasoline prices at the pump will come down. Every business that uses fuel has to pay more because of the increased price of gas. Young vouches for the support of the government and said Biden should revise his stance on drilling, adding that “we need the support of our head guy where the buck stops, more than anything else.”
In conclusion, Young pointed out that drilling increases supplies, which eventually rubs off on its prices. The cost of drilling has become more economically and ecologically friendly. Therefore, there is no reason for oil and gas companies not to drill more, and doing so would ultimately drive down gas prices. Young also suggested that companies would have used money made from profits to drill than just sit and decide to increase gas prices. The government must do something to aid the oil and gas industry and create a friendly environment that would enhance more drilling.