Drill! Drill! Drill!

[midcan5]

It's because it's idiotic to get oil from foreigners when we have it right here.

Hmmm... and I hope all your purchases are made right here in the good old USA.

 

[Ravi]

Nah.. could not have ALSO been influenced by Bush's cutting of the Executive Federal ban...

Also good to go back and stick our heads in the sand and bring this up again when prices re-rise... global demand is not going to get LOWER

If you think the markets are that shaky that a meaningless gesture by Bush can bring prices down then I guess we should be regulating them more closely.

The sticking the head in the sand bit is Americans pretending that since prices fall there's no reason to conserve.

 

[Tech_Esq]

I don't know if anyone has noticed, but gas prices are dropping from a combination of conservation and a slightly stronger dollar.

There's no need to drill. There's no shortage of gas and no shortage of oil.

I'm not sure if that's sand your head is in, but regardless, increased supplies are the only insurance we can have against price spikes. Everything else is pretty much out of our control. The fed could tighten the money supply but that would be suicide with the economy on the brink. The only smart play is to increase supply of the oil commodity to decrease upside risk.

Even if supplies are not immediately available firm commitment to increased supplies will drive futures prices lower resulting in lower prices at the pump. (Rather like jaw-boning the issue only better).

 

[Care4all]

Nah.. could not have ALSO been influenced by Bush's cutting of the Executive Federal ban...

Also good to go back and stick our heads in the sand and bring this up again when prices re-rise... global demand is not going to get LOWER

ABSOLUTELY NOT!

Cutting the executive ban did nothing and would not do anything because lifting the executive ban was and is meaningless without congress doing the same....

However the legislation on the hill to regulate speculators more than likely, and conservation world wide intentional or nonintentional due to the economies slowing world wide and a tiny bit of the dollar value upwards has made prices drop....

THIS IS what can be done immediately to affect our prices...some pipedream that may never come true, was not a part of it....imho.

care

 

[Jeepers]

Why would you have waited until people were killed?

Thats when it became obivious that fanatics with state ties possibly supported by oil money could be a threat to US citizens at home.

How do you get off assuming that people are "Johnny come lately" to the desire to drill. That's a big ass assumption.

If I was going to get off on something, it wouldnt be assuming... IT, however, is not a big assed assumption... did I miss the primary candates yelling Drill, Drill, Drill.... did I miss the republicans giving up their last break to grandstand on the capital.... actually if I remember Jim Webb, quite possibly your Senator, actually stayed throughout the christmas break to keep congress in session.. he was there alone last I checked.... and He left the cameras and the lights on.... How many pubs stayed around to discuss the need to drill oil. Hell you cats could have been screaming about drillin for jesus....Actually I challenge you to proove that oil was at the forefront of american and political thought once the hullibaloo from katrina oil related price hikes faded away....

I've been pushing for it since at least 1992.

Oil was what... 20 dollars a barrel. Many locations were either not known or not worth the effort... Hell since 92 how many fuel efficient vehicles was Detroit crankin out. Oil was cheap and plentiful... Few outside of oil companies were arguing for new drilling... so kudos if that was you.. granted I highly doubt it...

If it would take ten years to see it (which it doesn't, but that's the current vogue disinformation) we would have been swimming in oil for the 6 years if dems hadn't vetoed the damn thing. Thank your hero Bill Clinton for that.

still swimin in oil btw... that being said, I am all for responsible drilling... but, I think alternative energies need to be explored and not by oil companies.. arent they given a tax credit to explore energy alternatives? Heres a thought, Invest in universities and other non oil companies that have a vested interest in developing new energy alternative technologies...

Now stop changing the subject. Why not drill where the oil is? We all know where it is, let's go get it. Take your millions of acres back and let's go get some damn oil.

Um.. yeah.. Ok Nostradamus.... You'd be a valuable asset to any oil man if you had that information... How are you with lottery tickets?

 

[DiamondDave]

If you think the markets are that shaky that a meaningless gesture by Bush can bring prices down then I guess we should be regulating them more closely.

The sticking the head in the sand bit is Americans pretending that since prices fall there's no reason to conserve.

Nice add on... considering that has never been my stance...

I conserve... many people supporting drilling conserve with more efficient vehicle options, synthetic oil lubes, etc... but inflating tires, etc is not going to do it (and have not caused this price downturn on their own).... on the other hand, I certainly would not be for gestapo tactics to force people to not keep the heat in their house at want they want, or to drive more than X miles a year, or rationing...


You guys blame speculators when the price goes up, yet you don't believe that lifting a ban (with possibly lifting other bans in the future) would not have an effect on price speculation...

 

[Tech_Esq]

ABSOLUTELY NOT!

Cutting the executive ban did nothing and would not do anything because lifting the executive ban was and is meaningless without congress doing the same....

However the legislation on the hill to regulate speculators more than likely, and conservation world wide intentional or nonintentional due to the economies slowing world wide and a tiny bit of the dollar value upwards has made prices drop....

THIS IS what can be done immediately to affect our prices...some pipedream that may never come true, was not a part of it....imho.

care

Hard as it is to believe, I think the signing of the Executive order did have a marginal impact. Remember markets are emotional as well as rational. Having a triple lock on something an watching one of the locks get unlocked has an impact rationally as well as emotionally. There is a calculation that takes place about the relative pressures increasing or decreasing the likelihood that drilling can occur. I suspect that Obama now deciding that oil drilling is necessary played a part in the last couple of weeks too.

 

[Jeepers]

Obama didnt say it was neccessary... he said he will put responsible drilling on the table if... you cats will work with me to aleviate imediate economic pressures that americans are feeling, as well as working to remove our dependance on oil via new technologies...

Its called a concession..its used to forge a bipartisan agreement that will benefit america. Its what the pre-bush congress used to do..

 

[DiamondDave]

you cats will work with me to aleviate imediate economic pressures that americans are feeling,

otherwise known as give more entitlements... buy votes for me... and keep with a Robin Hood system of punishing earners and rewarding sloth... then I will think of doing the right thing with energy

 

[Care4all]

Hard as it is to believe, I think the signing of the Executive order did have a marginal impact. Remember markets are emotional as well as rational. Having a triple lock on something an watching one of the locks get unlocked has an impact rationally as well as emotionally. There is a calculation that takes place about the relative pressures increasing or decreasing the likelihood that drilling can occur. I suspect that Obama now deciding that oil drilling is necessary played a part in the last couple of weeks too.

the reason i do not believe what we may open up to drill will make one iota of difference is because all of that moratorium oil adds up to about 1% of the world's oil reserves if all drilled at once....i don't see how THAT increased world oil supply would do anything but something minor, like a 5 cent change on gas prices and this i read from economists, and i believe them...based on all the information they have....

this doesn't mean i can't be wrong, but logic dictates such in my opinion, especially since we are on a global market for oil....

ALL OF THE OIL that we drill now in America is only 3% of the world's oil supply/reserves and the USA uses 27% or the world's oil supply/reserves....

we drill every new spot that we can in the gulf moratorium areas and we WILL STILL BE USING and purchasing 25% -27% of the world's oil....i don't think it will make much of a difference....it does not reason, for it to make a difference with it being so little, compared to our needs.

care

 

[Care4all]

otherwise known as give more entitlements... buy votes for me... and keep with a Robin Hood system of punishing earners and rewarding sloth... then I will think of doing the right thing with energy

only the top 20% quintile in the USA are advancing, everyone else are left behind.....including the hard working middle class....

 

[DiamondDave]

the reason i do not believe what we may open up to drill will make one iota of difference is because all of that moratorium oil adds up to about 1% of the world's oil reserves if all drilled at once....i don't see how THAT increased world oil supply would do anything but something minor, like a 5 cent change on gas prices and this i read from economists, and i believe them...based on all the information they have....

this doesn't mean i can't be wrong, but logic dictates such in my opinion, especially since we are on a global market for oil....

ALL OF THE OIL that we drill now in America is only 3% of the world's oil supply/reserves and the USA uses 27% or the world's oil supply/reserves....

we drill every new spot that we can in the gulf moratorium areas and we WILL STILL BE USING and purchasing 25% -27% of the world's oil....i don't think it will make much of a difference....it does not reason, for it to make a difference with it being so little, compared to our needs.

care

Well.. other figures put our untapped KNOWN reserves at about the same amount as what Saudi Arabia has... that can and will make a difference

We will continue to use more oil than most any other nation (only considering China is now gobbling down oil like a person with an eating disorder at an all you can eat Chinese buffet).... we are the most advanced country on the planet... that is not going to change... so it is best to do what we can in terms of supply until the other alternatives are viable in the scope that we need

 

[DiamondDave]

only the top 20% quintile in the USA are advancing, everyone else are left behind.....including the hard working middle class....

And of course, you expect those who do advance and earn owes everyone else in a socialist/marxist/Robin Hood style of wealth redistribution...

As I have said many times and I will CONTINUE to say many times... you are the only one responsible for you.... I owe you nothing of my earnings for you to take care of yourself.. you are not entitled to crap... you have the right and the freedom to succeed just as you have the right and the freedom to fail.... you want more, earn it... do what you have to do

 

[Mr. Right]

Just like all market manipulation, this bubble is no different.

The Government restricts business.

Business passes the cost of restriction on to you.

You pay either way.

Business is about making money.

Government is about power.
[Money is power]

The American ideal was for people to be able to make it on their own.

The government is growing and business is leaving because of big government.

Pretty soon all there will be is little people and big government. Big business will be selling to who ever can afford to buy.

It looks like Government and Business are just two big whores fighting over the same corner.

What I wanna know is, Who's the Pimp?

 

[Jeepers]

otherwise known as give more entitlements... buy votes for me... and keep with a Robin Hood system of punishing earners and rewarding sloth... then I will think of doing the right thing with energy

OMFG.. You are seriously the biggest idiot here, and thats hard to do... WTF...entitlements, what does a frigging entitlement have to do with what I said.. do you even understand what an entitlement is.... jesus christ you are one stupid individual...must be one of those bitter clingers.. your taste in music is pathetice too.. sammy beats dave anyday of the week...

 

[DiamondDave]

OMFG.. You are seriously the biggest idiot here, and thats hard to do... WTF...entitlements, what does a frigging entitlement have to do with what I said.. do you even understand what an entitlement is.... jesus christ you are one stupid individual...must be one of those bitter clingers.. your taste in music is pathetice too.. sammy beats dave anyday of the week...

Yes... when the asshole Obama mentions (thru your paraphrase) "you cats will work with me to aleviate imediate economic pressures that americans are feeling"

Yep... sounds like he wants to tie his little entitlement packages into it as a stipulation for why he would possibly allow for more areas opened for drilling

 

[Tech_Esq]

the reason i do not believe what we may open up to drill will make one iota of difference is because all of that moratorium oil adds up to about 1% of the world's oil reserves if all drilled at once....i don't see how THAT increased world oil supply would do anything but something minor, like a 5 cent change on gas prices and this i read from economists, and i believe them...based on all the information they have....

this doesn't mean i can't be wrong, but logic dictates such in my opinion, especially since we are on a global market for oil....

ALL OF THE OIL that we drill now in America is only 3% of the world's oil supply/reserves and the USA uses 27% or the world's oil supply/reserves....

we drill every new spot that we can in the gulf moratorium areas and we WILL STILL BE USING and purchasing 25% -27% of the world's oil....i don't think it will make much of a difference....it does not reason, for it to make a difference with it being so little, compared to our needs.

care

The actual multiplicity of factors that impact the price of oil are far too many to form a simple opinion based on a few factors and say "it's only worth a couple of cents." Maybe so, maybe not, but how about we stop navel-gazing and actually find out?

I'll make you the same trade, you can have the 68 million acres, and just give the oil companies 2,000 acres in ANWR. What do ya say? Should we find out if your theory is right or wrong? Seriously, back to the question, we KNOW where some oil is, why not allow the drilling there? Saying it is only going make little difference really isn't an answer. So, we drill 1%. Then Brazil with their new oil find drills 1.5%. Then China forces Cuba and Sudan to drill 1%. Pretty soon you're talking real oil.

It all has an impact, just like less supply all has an impact. If Iran decides to cut the Straits of Hormuz (blocking oil from Iran, Iraq and Kuwait) and Venezuela decides that it only wants to sell oil to China. We would be screwed royally if only for a little while.

 

[Jeepers]

But then there is always Mr Right to consider on th idiotic factor... granted he does have posts that dont speak of third grade knowlege of societal isms.

 

[Jeepers]

Yes... when the asshole Obama mentions (thru your paraphrase) "you cats will work with me to aleviate imediate economic pressures that americans are feeling"

Yep... sounds like he wants to tie his little entitlement packages into it as a stipulation for why he would possibly allow for more areas opened for drilling

What about bushes economic stimulus plan. Was that an entitlement?.. . oh.. bush gave money to everyone, he must be redistributing gdp, he must be a comunist... Since only the wealthy pay taxes, bush must be a pinko robin hood.

What about releasing some of the petroleum reserve. what about closing down the enron loophole... all things not entitlements that would decrease economic pressures...

 

[Tech_Esq]

What about bushes economic stimulus plan. Was that an entitlement?.. . oh.. bush gave money to everyone, he must be redistributing gdp, he must be a comunist... Since only the wealthy pay taxes, bush must be a pinko robin hood.

What about releasing some of the petroleum reserve. what about closing down the enron loophole... all things not entitlements that would decrease economic pressures...

Yes to Bush being a pinko commie bastard (oh you didn't say bastard, oh well)

Perfect analysis showing you know the right answer but refuse to accept it. Hmmm....good thing I'm not psychologist, I might suggest a disorder exists.

We don't have a "petroleum reserve" We have a Strategic Petroleum Reserve. That one word, you know, Strategic...makes all the difference. I don't need short term price relief, I need energy independence and making me more vulnerable by releasing oil from the reserve that is suppose to be there for me if Iran cuts the Straits of Hormuz and Venezuela only does business with China, isn't making me feel better either way.

Ok, you fondly remember the pre-Bush days of horse trading and compromises. I want to stick a drill in every major source of oil in this country over the next five years. What do I need to give you to make that happen?