If more drilling is not the answer, why the cries to use Strategic Oil Rerserves?

[healthmyths]

Those of us "drill baby drill' anywhere supporters have always been criticized by complaints "oh ANWAR wouldn't supply more then 6 months".. or drilling won't lower gas prices... YET...
THESE SAME ANTI-drilling crowd???
Ed Markey urged the Obama administration to release oil from the nation's Strategic Petroleum Reserve to combat rising fuel costs during a press conference ...

The U.S. government has the power to deploy millions of barrels of oil to drive prices down.”


ONE of the BIGGEST and loudest critics of drilling NOW cries to release SPR..


The biggest and loudest DUH possible!

SO this classic liberal idiot WANTS to take OIL PAID for with lower prices in hopes of LOWERING speculators oil price thus lowering gas prices?

With one stroke of the PEN Obama could unleash Federal land leasing on 80% of unleased federal land and prices would plummet!

WHY you idiots ask??
Speculators would see what little kids... MORE OIL exploration.
MORE OIL discovered to INCREASE THE SUPPLY and DRIVE DOWN prices!

NOT by releasing already found oil.. BUT FINDING NEW OIL!!!

 

[GuyPinestra]

Too simple, too smart, too easy, and doesn't push the radical agenda...

"Drill baby, DRILL!" makes too much sense for the libtards to comprehend.

 

[occupied]

Releases from the strategic reserve is a direct attack on the speculation spike that has nothing to do with supply anyway.

 

[Mr. Shaman]

With one stroke of the PEN Obama could unleash Federal land leasing on 80% of unleased federal land and prices would plummet!

Yeah....sure....Federal-land resources would lower the value of oil-assets, worldwide. Let's see you convince speculators of that, Skippy.

We surely wouldn't want to press Big Oil, regarding oil they.....

.....ALREADY OWN!!!!!

 

[healthmyths]

With one stroke of the PEN Obama could unleash Federal land leasing on 80% of unleased federal land and prices would plummet!

Yeah....sure....Federal-land resources would lower the value of oil-assets, worldwide. Let's see you convince speculators of that, Skippy.

We surely wouldn't want to press Big Oil, regarding oil they.....

.....ALREADY OWN!!!!!

Why would already produced oil i.e. oil from Strategic Petroleum then lower prices except on the premise "there is more oil supply" right?

Drilling produces more oil supply. Would that not be true?
So by drilling on ANWR and eliminating all the barriers Obama's administration HAS put up.. more oil means less speculation.

BUT again that concept is just to alien to you isn't it?

 

[Meister]

Tapping the strategic oil reserve would bring the price of a gallon of gas down 4-6 cents?

Yeah...that is the plan.

 

[healthmyths]

Tapping the strategic oil reserve would bring the price of a gallon of gas down 4-6 cents?

Yeah...that is the plan.

Well even if it brought it down 4-6 cents.. objective reached : lower prices.

BUT remember there are ONLY 700 million barrels in the reserves.

But there are:
Known USA reserves: 6.5 Trillion barrels.
2.8 billion in 100 feet or less off Gulf coast
.3 billion offshore Virginia
10.0 billion in Alaska National Wildlife Reserve (ANWR) Alaska Oil Anwar
500.0 billion in Bakken Formation
6,000.0 billion barrels of oil equivalent. America's total oil shale resources
6.513.1 Trillion BARRELS
U.S. HAS MASSIVE OIL

Now oil speculators have to take in consideration not all 6.5 trillion recoverable so
discount 50%...
Leaves 3.25 trillion barrels..
USA uses
Annual U.S. oil production 2.002 billion barrels.
Annual U.S. oil imported 4.292 billion barrels
Total USA Oil consumption 6.294 billion barrels.
The Oil Drum | World Oil Capacity to Peak in 2010 Says Petrobras CEO
3.25 trillion barrels divided by 6.29 billion (USA use/year) total years: 516 years!

So why NOT DRILL baby Drill?

 

[Meister]

Tapping the strategic oil reserve would bring the price of a gallon of gas down 4-6 cents?

Yeah...that is the plan.

Well even if it brought it down 4-6 cents.. objective reached : lower prices.

BUT remember there are ONLY 700 million barrels in the reserves.

But there are:
Known USA reserves: 6.5 Trillion barrels.
2.8 billion in 100 feet or less off Gulf coast
.3 billion offshore Virginia
10.0 billion in Alaska National Wildlife Reserve (ANWR) Alaska Oil Anwar
500.0 billion in Bakken Formation
6,000.0 billion barrels of oil equivalent. America's total oil shale resources
6.513.1 Trillion BARRELS
U.S. HAS MASSIVE OIL

Now oil speculators have to take in consideration not all 6.5 trillion recoverable so
discount 50%...
Leaves 3.25 trillion barrels..
USA uses
Annual U.S. oil production 2.002 billion barrels.
Annual U.S. oil imported 4.292 billion barrels
Total USA Oil consumption 6.294 billion barrels.
The Oil Drum | World Oil Capacity to Peak in 2010 Says Petrobras CEO
3.25 trillion barrels divided by 6.29 billion (USA use/year) total years: 516 years!

So why NOT DRILL baby Drill?

I really doubt that when the price of a gallon of gas reaches ...say 4.50....that people are going to be jumping for joy over the price being 4.44-4.46 because of the tapped resource.

We do need to drill baby drill to make a serious dent in the price. We also have to make sure that it isn't sold else where.

 

[kaz]

Releases from the strategic reserve is a direct attack on the speculation spike that has nothing to do with supply anyway.

Actually speculators are speculating on price based on the projection of supply and demand for oil. If they are wrong, they lose their asses. Reality and liberalism go together like spaghetti sauce and anvils.

 

[kaz]

I really doubt that when the price of a gallon of gas reaches ...say 4.50....that people are going to be jumping for joy over the price being 4.44-4.46 because of the tapped resource.

We do need to drill baby drill to make a serious dent in the price. We also have to make sure that it isn't sold else where.

Actually oil is a commodity, so increasing supply will only reduce price if it increases global supply enough to reduce price. And it makes no difference where it's drilled or sold. So for example when we drill oil in Alaska and ship it to Japan and buy the same amount from the Middle East, it does make a difference in price only so far as it increases global supply enough to affect price. We do it that way actually to reduce shipping costs. And it makes sense.

What it does do is reduce our dependency on foreign oil. The higher our domestic production, the more we are internally generating our energy sources and the less net capital we are exporting. We are also less at risk of an embargo as Alaskan oil could be diverted to the US. But saying that transactionally we should have higher shipping costs so we can use our own oil doesn't make economic sense.