Paying off $15 trillion national debt in 38 years.

[healthmyths]

Now with fracking, slant drilling among recent oil recovery methods this increase known recoverable oil to the below 4.7 TRILLION barrels!

With entire domestic production from below resources consumed by USA of 6.6 billion barrels a year it would take 684 years to consume 4.7 trillion barrels.

BUT lets assume 50% is exported at $100/barrel and USA makes $50 royalty fee per barrel.. on 2.3 trillion barrels is over 300 years $400 billion a year ..
National deb $15 trillion would take 38 years JUST from OIL REVENUE royalties alone!

URL="http://www.indexmundi.com/energy.aspx"]http://www.indexmundi.com/energy.aspx [/URL]
FACT: OIL resources that USA uses 18,810,000 barrels / day.
FACT: 4.7 TRILLION BARRELS in USA that Obama could open up!
100 feet or less of Gulf 2.8 billion barrels
Virginia 0.3
Anwr Alaska 10.0
Bakken formation 3,600
CO,UT,WY 1,100
total 4.713 Trillion barrels or 686 years at above consumption rate!

U.S. oil resources: President Obama’s ‘non sequitur facts’ - The Washington Post

 

[healthmyths]

If Alaska get $20 per barrel in royalties per year..
The USA royalties would be the same on the OIL the USA could export 61.3 billion a year earning the USA at $20/barrel another $1.2 trillion a year in INCOME..
SO what's stopping the USA from being the OPEC to the world?
What about the cost of national defense going down as "oil strategic producers" no longer our concern!
WHY is the common sense approach DENIED by Obama???

North Slope oil fields accounted for an average of 20 percent of the nation’s domestic production between 1980 and 2000. Currently, Alaska accounts for about 13.2% of U.S. production.

The oil and gas industry generates an overwhelming majority of Alaska’s general fund revenues. In FY 2009, the state collected $5.18 billion in revenues from the oil industry, accounting for 88.8 percent of Alaska’s unrestricted general fund revenues.
How much of the oil produced in the U.S. is consumed in the U.S.? - FAQ - U.S. Energy Information Administration (EIA)

 

[Mr. H.]

Export 50% of our production? LOL

And what happens in Alaska when oil drops to $20/barrel?

Silliness you are full of young Jedi.

 

[healthmyths]

Export 50% of our production? LOL

And what happens in Alaska when oil drops to $20/barrel?

Silliness you are full of young Jedi.

Then wouldn't that BE GREAT????
Since one 42 gallon barrel of oil produces 19.4 gallons of gas!
At $20 per barrel or at 47 cents per gallon that means a gallon of oil going to the refinery would cost the refinery 47 cents per gallon.
If the barrel generates 19.4 gallons of gas the cost of crude converted to gas is 68% of a gallon of gas at the pump.

So at 68% of a gallon of gas cost being CRUDE:
Taxes 12.00% $0.12
distribution /marketing 7.00% $0.07
Refining 13.00% $0.13
crude oil 68.00% $0.68

So you would be happy to know that AT $20 per barrel BECAUSE there is ok now read carefully .. THE SUPPLY INCREASES and the price goes down!
Gas would be $0.96 per gallon at your suggested rate of $20 / barrel OIL!

SO what would be so wrong with $1/gal gas????

 

[Robert_Stephens]

Now with fracking, slant drilling among recent oil recovery methods this increase known recoverable oil to the below 4.7 TRILLION barrels!

With entire domestic production from below resources consumed by USA of 6.6 billion barrels a year it would take 684 years to consume 4.7 trillion barrels.

BUT lets assume 50% is exported at $100/barrel and USA makes $50 royalty fee per barrel.. on 2.3 trillion barrels is over 300 years $400 billion a year ..
National deb $15 trillion would take 38 years JUST from OIL REVENUE royalties alone!

URL="http://www.indexmundi.com/energy.aspx"]http://www.indexmundi.com/energy.aspx [/URL]
FACT: OIL resources that USA uses 18,810,000 barrels / day.
FACT: 4.7 TRILLION BARRELS in USA that Obama could open up!
100 feet or less of Gulf 2.8 billion barrels
Virginia 0.3
Anwr Alaska 10.0
Bakken formation 3,600
CO,UT,WY 1,100
total 4.713 Trillion barrels or 686 years at above consumption rate!

U.S. oil resources: President Obama’s ‘non sequitur facts’ - The Washington Post

There is no mention of the rapidly growing $15,460,750,000,000+ national debt in your post. You may have missed this:

The most vexing thing is the $15,455,800,000,0000+ debt and counting. No matter what we are, Obama is, the next Pres, it does not matter as $20,000,000,000,000 is the final cut off.

It is mathematically impossible at that point to pay off our incurring debt. The reason is at that amount, even if government were to cease all operations and concentrate all taxes on paydown of that amount of money, it is self perpetuating.....

And that is only $4.6 trillion dollars away.......

Number 13 of the 13 points of the end of civilizations, without exception, over the last 5000 years.---Insurmountable debt.

Consider.

Robert

 

[NYcarbineer]

Export 50% of our production? LOL

And what happens in Alaska when oil drops to $20/barrel?

Silliness you are full of young Jedi.

Then wouldn't that BE GREAT????
Since one 42 gallon barrel of oil produces 19.4 gallons of gas!
At $20 per barrel or at 47 cents per gallon that means a gallon of oil going to the refinery would cost the refinery 47 cents per gallon.
If the barrel generates 19.4 gallons of gas the cost of crude converted to gas is 68% of a gallon of gas at the pump.

So at 68% of a gallon of gas cost being CRUDE:
Taxes 12.00% $0.12
distribution /marketing 7.00% $0.07
Refining 13.00% $0.13
crude oil 68.00% $0.68

So you would be happy to know that AT $20 per barrel BECAUSE there is ok now read carefully .. THE SUPPLY INCREASES and the price goes down!
Gas would be $0.96 per gallon at your suggested rate of $20 / barrel OIL!

SO what would be so wrong with $1/gal gas????

Who can make money producing US domestic oil if the market is $20 a barrel?

 

[healthmyths]

Export 50% of our production? LOL

And what happens in Alaska when oil drops to $20/barrel?

Silliness you are full of young Jedi.

Then wouldn't that BE GREAT????
Since one 42 gallon barrel of oil produces 19.4 gallons of gas!
At $20 per barrel or at 47 cents per gallon that means a gallon of oil going to the refinery would cost the refinery 47 cents per gallon.
If the barrel generates 19.4 gallons of gas the cost of crude converted to gas is 68% of a gallon of gas at the pump.

So at 68% of a gallon of gas cost being CRUDE:
Taxes 12.00% $0.12
distribution /marketing 7.00% $0.07
Refining 13.00% $0.13
crude oil 68.00% $0.68

So you would be happy to know that AT $20 per barrel BECAUSE there is ok now read carefully .. THE SUPPLY INCREASES and the price goes down!
Gas would be $0.96 per gallon at your suggested rate of $20 / barrel OIL!

SO what would be so wrong with $1/gal gas????

Who can make money producing US domestic oil if the market is $20 a barrel?

Who made money when it was at $20/barrel in
1978 $14.95 $51.75
1979 $25.10 $77.31
1980 $37.42 $102.61
1981 $35.75 $88.85
1982 $31.83 $74.49
1983 $29.08 $65.91
InflationData: Historical Oil Prices Table

SO would that be great???
ALSO oil at $20 /barrel means MORE money to spend for other GDP components!