Gasoline Expected to Rise to $5.00 to $6.00 a gallon

i was visiting a conservative friend of mine...who worked the oil field in the gulf for years.....he swears all we have to do is uncap the wells already there...and when i mentioned the bp disaster...he pointed out that was drilling....not uncapping....how much of this is true? i am not sure....after all he is a conservative
 
Geo political events are driving commodities traders into a form of panic buying.
They have run up the price of crude oil( West Texas Intermediate crude) on the New York Mercantile Exchange( NYMEX) has run up from $84 per barrel three weeks ago to over $100 per barrel before settling today with a slight drop.
The price yesterday fell due to a news story alleging Libyan leader Kadhafi had been shot and killed.
Although Other OPEC nations have pledged ot make up for the roughly 1.5 million barrel daily output form Libya's wells, commodities traders continue to fear anti- government strife will spread to other Gulf Arab nations and most importantly, Saudi Arabia.
Unfortunately with the US and other economies on shaky ground, this does not bode well for any kind of economic recovery. In fact some analysts have stated that if the present spike in oil and gasoline prices continues, it could send the US and European economies into a second tail spin.
In any event, there is no end in sight of the current run up in prices.
 
What makes anyone think that Obama, or any other President, has sway over world oil pricing?
Yeah...Obama and his pie in the sky ideas about solar and wind energy and his idiotic drilling bans.
Clinton and his seizing of lands under which there are billions of barrels of unharvested oil and natural gas.
 
What makes anyone think that Obama, or any other President, has sway over world oil pricing?
Yeah...Obama and his pie in the sky ideas about solar and wind energy and his idiotic drilling bans.
Clinton and his seizing of lands under which there are billions of barrels of unharvested oil and natural gas.
Jimmy Carter put in place a plan that would by now have made us at least competitive with Germany in its development of solar technology which presently supplies over 25% of their electrical energy. Because we import only 20% of our energy (oil) from the Middle East we would by now be totally independent of that source.

But Ronald Reagan scrapped Carter's solar energy plan and he removed the solar panels that Carter had installed on the White House roof.

mediastudy.com
 
The best place to look for the truth on how much oil there is available are the USGS figures. You see Conservatives claiming 400 billion to a trillion barrels for the Bakken formation, then read from the USGS that the field has about 3 1/2 to 4 billion recoverable barrels. Since we use between 10 and 20 million barrels a day of oil in this nation, that is about a years supply for us.

World production has flatlined for a while now in the face of rising demand. On a demand and supply market. Come on, now, you free market mavens, doesn't that have a certain meaning?
 
Bush created much of the problems that drove the oil prices up with his incompetant and idiotic adventures in the Mideast. Today, the problems are created by the people in the Mideast that wish to have a say in their own government.

In both cases, there is also the background fact of rising demand and declining production.
 
Bush created much of the problems that drove the oil prices up with his incompetant and idiotic adventures in the Mideast. Today, the problems are created by the people in the Mideast that wish to have a say in their own government.

In both cases, there is also the background fact of rising demand and declining production.
To respond to both posts..
Government incompetence combined with an insistence in kowtowing to environmental lobbyists and deference t foreign intersts has created this intolerable condition here in the US.
Given our vast reserves of these natural resources, we should be calling the shots in oil and natual gas production. Still with all the nonsense occuring the US is the #3 largest oil producing nation on the planet. We should be #1.
Now with this latest oil and gasoline price spkie our economy will take a nosedive.
Stat heard yesterday...For every penny rise in the price of gas, over $100 biillion in spending power is removed from our pockets....
BTW, the problems we are seeing in the Middle East today would have occured with or without US interference. Bank on that.
 
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What makes anyone think that Obama, or any other President, has sway over world oil pricing?[/QUOTE

Do you deny that the gulf oil drilling ban has had no effect on prices?

It's about state rights. Here in Florida for example we should have the right to either allow, or deny oil drilling off of our shores. The constitution doesn't grant the federal government-or any body to either allow, or restrict oil drilling. Therefore it's up to the states individually.

We don't want drilling because it'll greatly hinder our economy. Our tourism would get hit really hard-let alone if something like the BP spill happened again, which would then hit our fishing, boating, ports, etc.. We have too much to risk just to slightly lower gas prices for the nation as a whole. Floridians shouldn't be subjected to unconstitutional risks to our economy just for people in the other 49 states (talk about big government).

The majority of Floridians are against off-shore drilling here. It's against our state law not to drill here. If you can point out an area of the US constitution that states the federal government has the right to overstep that law-by all means show it. If you can't (which you can't)-too bad, so sad-get over it.
 
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What makes anyone think that Obama, or any other President, has sway over world oil pricing?[/QUOTE

Do you deny that the gulf oil drilling ban has had no effect on prices?

It's about state rights. Here in Florida for example we should have the right to either allow, or deny oil drilling off of our shores. The constitution doesn't grant the federal government-or any body to either allow, or restrict oil drilling. Therefore it's up to the states individually.

We don't want drilling because it'll greatly hinder our economy. Our tourism would get hit really hard-let alone if something like the BP spill happened again, which would then hit our fishing, boating, ports, etc.. We have too much to risk just to slightly lower gas prices for the nation as a whole. Floridians shouldn't be subjected to unconstitutional risks to our economy just for people in the other 49 states (talk about big government).

The majority of Floridians are against off-shore drilling here. It's against our state law not to drill here. If you can point out an area of the US constitution that states the federal government has the right to overstep that law-by all means show it. If you can't (which you can't)-too bad, so sad-get over it.

The majority of Floridians aren't even Floridians. They live half the year in New York or New Jersey.
You go ahead and keep buying into the enviro-nazi propaganda. If there were oil rigs off the FL coast, you would not have a clue their presence. The entire story behind FL's off shore ban was based on the California spills of the 1970's. Oil production technology is far more advanced. The BP explosion was an accident.
If anything, FL taxpayers would benefit from off shore oil production in the form of royalties from said production.
Look, it's either we here in the US start realizing that with economic freedom comes a little risk or we remain under the thumb of people who don't like us very much.
BTW, to a certain distance off the shoreline ,yes the State has jurisdiction. Beyond that , I believe it is three miles, offshore waters come under federal jurisdiction. It is through cooperation between the federal government and states that offshore drilling is limted.
However, if push came to shove and the country needed the oil, we'd get it. and of course the respective state would receive ample compensation.
This is not about "slightly lower gas prices"..This is about doing the right thing and harvesting our own natural resources. You complain about risk. You mention fisheries and tourism twice. Sounds like you have an agenda. an agenda that is somewhat self centered.
Newsflash...we're all in this together. Last time I checked Florida was still part of the United States of America.
This is about economic independence and economic security. Do not ever forget that.
We don't get to that point without a little risk.
If we used your theory about avoiding risk, there would be no air travel and no cars.

The States Rights clause in the Constitution does not apply here.
 
Bush created much of the problems that drove the oil prices up with his incompetant and idiotic adventures in the Mideast. Today, the problems are created by the people in the Mideast that wish to have a say in their own government.

In both cases, there is also the background fact of rising demand and declining production.

You left out the Yom Kippur War and ensuing embargo, Iranian Revolution, and the war between Iran and Iraq. Or were all those Bushes fault too?
 
Jimmy Carter put in place a plan that would by now have made us at least competitive with Germany in its development of solar technology which presently supplies over 25% of their electrical energy. Because we import only 20% of our energy (oil) from the Middle East we would by now be totally independent of that source.

But Ronald Reagan scrapped Carter's solar energy plan and he removed the solar panels that Carter had installed on the White House roof.

mediastudy.com

Cartier financed his pipe dreams on the backs of American industry and workers by confiscating billions of dollars of private capital in the guise of the "Windfall Profits Tax". Domestic oil production took a nose dive as a result. Imports skyrocketed.

No- he is the precise reason we are so fucked up today. He had his chance and blew it.

Imports are imports. We would be totally independent of Middle East oil today if we were to open the Outer Continental Shelf and the Eastern Gulf of Mexico, ANWR, and if we LIFT THE GODAMN MORATORIUM IN THE CENTRAL GULF.
 

It's about state rights. Here in Florida for example we should have the right to either allow, or deny oil drilling off of our shores. The constitution doesn't grant the federal government-or any body to either allow, or restrict oil drilling. Therefore it's up to the states individually.

We don't want drilling because it'll greatly hinder our economy. Our tourism would get hit really hard-let alone if something like the BP spill happened again, which would then hit our fishing, boating, ports, etc.. We have too much to risk just to slightly lower gas prices for the nation as a whole. Floridians shouldn't be subjected to unconstitutional risks to our economy just for people in the other 49 states (talk about big government).

The majority of Floridians are against off-shore drilling here. It's against our state law not to drill here. If you can point out an area of the US constitution that states the federal government has the right to overstep that law-by all means show it. If you can't (which you can't)-too bad, so sad-get over it.

The majority of Floridians aren't even Floridians. They live half the year in New York or New Jersey.
You go ahead and keep buying into the enviro-nazi propaganda. If there were oil rigs off the FL coast, you would not have a clue their presence. The entire story behind FL's off shore ban was based on the California spills of the 1970's. Oil production technology is far more advanced. The BP explosion was an accident.
If anything, FL taxpayers would benefit from off shore oil production in the form of royalties from said production.
Look, it's either we here in the US start realizing that with economic freedom comes a little risk or we remain under the thumb of people who don't like us very much.
BTW, to a certain distance off the shoreline ,yes the State has jurisdiction. Beyond that , I believe it is three miles, offshore waters come under federal jurisdiction. It is through cooperation between the federal government and states that offshore drilling is limted.
However, if push came to shove and the country needed the oil, we'd get it. and of course the respective state would receive ample compensation.
This is not about "slightly lower gas prices"..This is about doing the right thing and harvesting our own natural resources. You complain about risk. You mention fisheries and tourism twice. Sounds like you have an agenda. an agenda that is somewhat self centered.
Newsflash...we're all in this together. Last time I checked Florida was still part of the United States of America.
This is about economic independence and economic security. Do not ever forget that.
We don't get to that point without a little risk.
If we used your theory about avoiding risk, there would be no air travel and no cars.

The States Rights clause in the Constitution does not apply here.

-How does the States Right clause in the Constitution not apply here? Explain.
-Again I ask you where in the Constitution does it give the rights for the federal government to have federal waters past the 3 miles, and where does it allow the federal government to allow off shore drilling off the shore of other states


-For the record, I'm a "real" Floridian
-It's not about the environment-it's about our economy here in Florida. I don't care whether there's drilling in Alaska, or off California shores-it's not my state. I wouldn't be the one at risk. If those states want to do it-more power to them. For me it's not about being an "enviro-nazi".

-Oil is not a normal commodity that follows a typical supply and demand curve. The demand is intricate in virtually everything (shipping, plastic, travel, etc.). It's the demand that makes oil so expensive-not the supply. The sooner people realize this-the better..
-I agree you don't get much if you don't risk. That's fine. People should risk their own state. The people of this state doesn't want off shore drilling. Period. Florida doesn't tell other states what to do-others shouldn't tell ours what to do.

-Yes you're right 3 miles off the coast and you're in federal waters (about 9 miles into the gulf-as low tides hit parts of land out there). However federal waters themselves aren't constitutional. Point out where in the constitution it gives the federal government the constitutional power of such. Also the federal government shouldn't subject Florida to the risk if Florida doesn't want it (we don't). Again if other states do-fine drill there.

And maybe us in Florida wouldn't notice the rigs off shore. Maybe you're right. But tourists still wont come anywhere near as much. People from other places would look at Florida and say...oh look they have drilling-let's go somewhere else for vacation. And that doesn't affect the other states-it affects ours. All things the same-are people going to go to a place with beaches that has offshore drilling, or no offshore drilling? They're going to go to the one without drilling.
 
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What makes anyone think that Obama, or any other President, has sway over world oil pricing?[/QUOTE

Do you deny that the gulf oil drilling ban has had no effect on prices?

It didn't even when the disaster was taking place. You DO know, I hope, that all oil drilled in the United States doesn't stay in the United States. That, and the deep sea drilling moratorium was lifted last October. You might begin by keeping current, then move to any one of hundreds of articles that will tell you that oil is a speculative commodity, it's price depending on betting how high it will go.
 

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