With Crude at $145...

[ihookem]

Better hope the gov stays away or it will go up for sure and we will have shorages too.

[MikePA]

Originally Posted by Charlesaf3

We use too much oil.

I disagree 100%. If you want to blame yourself, be my guest but leave me out of it. I use the oil I need. It's annoying, albeit trendy, to blame Americans for this. The issue is purely one of supply versus demand and until we start showing the world, particularly the financial world, we have the will to increase our own supply, the price will continue to go up. Conservation might be good but it is not going to solve this problem, neither will wind, nukes or buying electric cars. All the pontificators who say drilling wont lower the price of fuel...No duh. It will take 5 - 7 years. Wind, electric cars, etc. will take longer, if at all. If we started a national effort ala putting a man on the moon and said we are pulling out all stops to become energy self sufficient in 5 - 7 years, the price of a barrel would drop like a rock. Why? Because speculators would have some reason to believe supply will increase.

[EddieWalker]

Originally Posted by MikePA

I disagree 100%. If you want to blame yourself, be my guest but leave me out of it. I use the oil I need. It's annoying, albeit trendy, to blame Americans for this. The issue is purely one of supply versus demand and until we start showing the world, particularly the financial world, we have the will to increase our own supply, the price will continue to go up. Conservation might be good but it is not going to solve this problem, neither will wind, nukes or buying electric cars. All the pontificators who say drilling wont lower the price of fuel...No duh. It will take 5 - 7 years. Wind, electric cars, etc. will take longer, if at all. If we started a national effort ala putting a man on the moon and said we are pulling out all stops to become energy self sufficient in 5 - 7 years, the price of a barrel would drop like a rock. Why? Because speculators would have some reason to believe supply will increase.

I agree with Mike on this, but want to add a little to it. The demand for oil is claimed to have increase, but the increase is only marginal. If we pretend the demand for oil has increased 100% and doubled in the last year, which is hasn't, then the price of oils should follow that demand. Since the price of oil is increasing much, much faster then demand, that must mean that demand isn't the issue. China and India are getting the blame, and while the are using more oil, it's not such a significant amount that current supplies cannot handle it.

The oil producing countries are not pumping at full capacity. The can increase the amount of oil if they wanted to, but they chose not to because of all the money they are making at the price they are receiving. Nowhere in the world is there a shortage of oil and amount of production that's coming out fo the ground is handleing the world demand quite easily.

The only really variable here is the stability of the oil supplies and the ability to make a profit on that instablity. Watch Iran and see how their threats and bluffs affect the price of oil. Watch how they threaten Isreal or anybody else when the price of oil drops. It droped today, so Iran will come up with a new threat of some kind this week and the price will shoot back up again.

If the United States drilled and pumped the known oil supplies that we have her, the price of oil would collapse. It's just that simple. There is no shortage of oil, and there is no reason for people to say that we're running out. This empty cry has been going on for 40 years, and we know of more oil today then we knew of back then.

The only reason we don't drill for oil is that certain politicians rely on votes from those who still believe the BS that oil is bad. They do not offer a solution, but still refuse to do what's best for the country. They are at 9% approval and are still in the way of fixing the problem. They invent silly reasons that don't make any sense, they stall and point fingers, and accomplish nothing. If we want to blame ourselves for the price of gas, then it's because we've voted these corupt fools into office and we're starting to pay the price for their coruption.

Eddie

[unreconstructed]

Go Eddie!!!

[Runner]

Right on, Eddie.

[WTA]

I don't believe we are running out either. All that garbage is being spread around to further the cause of the global warming crowd. It's funny that 20 years ago we were headed into another ice age. It's amazing that nearly everyone here was around for all of that and should remember it but doesn't.
Now we're all going to die from skin cancer and crops will wither from the heat. Yeah right.
If the government tells us we are running out of oil and we can't drill then you can bet your life they have a reason for it. A reason like wanting to use corn for gas.
Why would we switch to it when it cost's more, burns less efficiently and jacks up our food prices if there wasn't a very good reason.

Well, if we don't then the whole world will burn up in global warming.

Sure I believe everything I hear from the government. Why don't the rest of you?

Obama keeps saying it's pointless to drill because it will take 10 years for any of that oil to hit the market. Yeah, that makes sense. If I keep telling myself that there's no reason to save for my retirement because it will take 10 years to get to a comfortable amount in my savings to do any good then what's the point? Why save at all?
This is about the dumbest argument I have ever heard. He has an agenda and everyone needs to get that through their head.

If we don't start drilling now and building more refineries NOW then we will be screwed in 10 years! It's as simple as that. A lot more screwed than we are now. It would be a start at least and a whole lot better than the government sitting on their butts doing nothing.

[actionaj]

I think this country should drill ware ever there is oil. No mater if it is under my house or the white house. Not only is it good for the economy but most importantly for national security. I will not vote for any politician that is against drilling. And as far as global warming I think it is bunch of bull. They use it to blame everything on from increases in kidney stones to poison ivy. But mostly they use it to push political agendas. When I was in grade school in the late 70s and early 80s all you heard then was the coming ice age this, ice age that. How can that change in such a short amount of time? We need to take care of the environment too, but do it with logic and reason not because of some Hollywood fad. I agree that congress should do something either if it's right or wrong that's better than just sitting on there butts and wasting money on dog and pony shows. I think its time we kick all of them dead beats out and start over.

[WTA]

The government doesn't care one bit about the environment. Take these new light bulbs they are requiring us by law to use now. Two years ago it was mercury this and mercury that and now they want us to use more of it in these darn light bulbs.

Next time I break one I'm calling the fire department hazmat team and telling them I'm scared for my life because it has mercury in it.

Look at this:
YouTube - IMPORTANT INFORMATION ABOUT ENERGY SAVER LIGHT BULBS!


All to save the planet and reduce the effects of global warming. The government wants us to forget everything they told us for the last 20 years and get on board with this newest fad.

Last year here, was the coldest on record. This one is colder than last so far too. Also while the government says we are running out of oil I got oil in one of my irrigation wells. GO figure!
I wish I had the cash to have the pump changed and it drilled deeper to pull that stuff out of the ground. I've run black oil burning boilers before and would be totally self sufficient in energy here real fast.

[Mickey_Fx]

In case you haven't noticed, the Pres lifted the EO yesterday to open up oil/gas exploration off the coast. Futures price of Aug delivery dropped $9/bl after the announcement. Some oil Exe's say they already have several wells drilled off the Cal coast and could have oil pumping within a yr, just need for the congressional ban to expire this Sept or is lifted.

So much for the talk that lifting the ban won't have any impact on oil prices and no additional oil for many yrs.

[unreconstructed]

The bunch in Washington think 10 years because it takes them 10 years to change a light bulb--which may be a good thing. I have lived in oil patch now for 27 years--the independents oil producers know how to get things done. The majors will be a little slower but they know how to make hole too.

The political class in this country is sucking us dry and have no credibility about anything that comes out of their pieholes. At least in my view. They are just po'd because the Clinton administration made such a bad deal on the off shore royalities--no deal a farmer at the kitchen table would have ever made.