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Title: We Can't Drill Our Way Out of High Gas Prices
Source:
AOL news
URL Source: http://www.aolnews.com/2011/03/09/o ... ur-way-out-of-high-gas-prices/
Published: Mar 9, 2011
Author: Roland Hwang
Post Date: 2011-03-09 22:29:29 by go65
Keywords: None
Views: 17166
Comments: 25
As the price of oil soars above $100 a barrel, Americans are experiencing sticker shock at the pump and economists are concerned about our fledgling economic recovery. Solutions exist that can get us off the oil market roller coaster, but they won't be found in more domestic oil fields. No matter how vocal the drilling supporters become, they still won't be able to address America's acute vulnerability to the whims of the global oil market.
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#1. To: Happy Quanzaa, Rek, godwinson, jwpegler, no gnu taxes, lucysmom, skip intro (#0)
A good read, I hadn't been aware of the fact that domestic oil production has actually increased since Obama became President, rising to its highest level in almost 10 years: http://www.ft.com/cms/s/0/8698ae80-4503-11e0-80e7-00144feab49a.html#axzz1FXvTX1ED
Since January 3, 2011, Republicans have controlled the power of the purse.
Some people would say we are being smart and sucking the foreigners dry before we use our own oil. I think we should drill more though.
I think we should drill more though. Read the article - if we tap all the known reserves in the U.S. tomorrow we'll have a 3 year supply.
Since January 3, 2011, Republicans have controlled the power of the purse.
Don't tell me you believe that.
The USA has less than 4% of the world's population. Meanwhile, for decades the USA has ruthlessly destroyed the planet using over 25% of the world's production of petroleum products. Go65 is correct and on target (as most always)
We have about 21 billion barrels of known reserves, we import about 4-5 billion barrels a year. So figure a 3-4 year supply if all known reserves are instantly tapped. There's the possibility of another 100-120 billion barrels out there, but drilling would take years assuming it's feasible and you ignore the environmental impacts.
Since January 3, 2011, Republicans have controlled the power of the purse.
That is a sign of us being more successful. Nothing wrong with that
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, http://www.nextenergynews.com/news1/next-energy-news2.13s.html And that is just one state.
It won't lower the price one dime. We already have plenty of oil already in storage and are building more everyday. The oil companies sell it to the highest bidder and the rest of us either pay that price or go without.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
No, but you sure as hell can build more refineries. That's the bottleneck problem.
Well, [W.A-R.'s] got to do something for attention, his multiple personalities aren't speaking to him any more, and his imaginary friends keep finding excuses not to come over.
That is your opinion. I think we need more refineries. I wouldn't mind a drill here stay here policy.
There's plenty of gas and oil. It's an artificial market, and supply and especially demand has nothing to do with the price, as long as they can store it until they get their price.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
What would you recommend for getting us out of this mess we are in?
Should government force the private sector to build more refineries?
You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you. Ludwig von Mises in a letter to Ayn Rand
They should put gags in all the green weenies. Then loosen up the regulations and give tax breaks and lawsuit shields. That and any other good ideas that citizens could come up with to speed the process along. What has it been since the 70's or 80's since one has been built. I think that is what I heard. Correct me if I am mistaken.
How many proposed refineries have the greenie weenies prevented from being built in the last ten years?
You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you. Ludwig von Mises in a letter to Ayn Rand
To many. They are a factor.
The refineries in my area been able to increase in size and capacity. Why build new ones?
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
So that supply can be increased thereby lowering prices. I don't support monopoly capitalism.
Since 1981 the industry has shut down 192 refineries as a result of low profits (too much capacity) and reduced competition.
You have the courage to tell the masses what no politician told them: you are inferior and all the improvements in your conditions which you simply take for granted you owe to the efforts of men who are better than you. Ludwig von Mises in a letter to Ayn Rand
Think of oil as being more like a fair trade item, like Levis used to be. Why should operations be duplicated when many already in existence can and are being expanded. There's a lot more infrastructure to a refinery that just the facility itself.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
The only way you get more refineries built is if the government builds and operates them. The "for-profit" energy companies don't invest in building new refineries because it hurts profits. Instead they've simply expanded capacity at existing refineries.
Since January 3, 2011, Republicans have controlled the power of the purse.
How about we do what Palin did in Alaska and impose a windfall profits tax on energy companies and use that to give everyone a refund toward high gas prices?
Since January 3, 2011, Republicans have controlled the power of the purse.
not quite. http://www.snopes.com/politics/gasoline/bakken.asp the 2008 USGS analysis showed about 3-4 billion barrels that are recoverable with current approaches, less than a 1 year supply. RAND's analysis said there are potentially 800 billion barrels of oil locked up in shale, but it would take 20 years to develop the technology to get to a point where the field would deliver a million barrels a day (less than 10% of what we import in a day). At some point conservatives need to accept the fact that if you want to reduce dependency on foreign oil you need to develop alternative technologies or reduce consumption.
Since January 3, 2011, Republicans have controlled the power of the purse.
Plus they tend over take up all the good beach/waterfront properties. With docks running hundreds of yards out to sea in order to offload the tankers, and every inch of remaining bare land paved over. Then they get complaints from the wealthy, mainly Republican voting neighbors who paid big bucks for theirs that they ruined the view and polluted the water.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
#2. To: go65 (#0)
#3. To: A K A Stone (#2)
Some people would say we are being smart and sucking the foreigners dry before we use our own oil.
#4. To: go65 (#3)
Read the article - if we tap all the known reserves in the U.S. tomorrow we'll have a 3 year supply.
#5. To: A K A Stone, go65 (#4)
Don't tell me you believe that.
#6. To: A K A Stone (#4)
Don't tell me you believe that.
#7. To: buckeroo (#5)
The USA has less than 4% of the world's population. Meanwhile, for decades the USA has ruthlessly destroyed the planet using over 25% of the world's production of petroleum products.
#8. To: go65 (#6)
#9. To: A K A Stone (#8)
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times,
#10. To: go65 (#0)
#11. To: Rek (#9)
It won't lower the price one dime.
#12. To: A K A Stone (#11)
That is your opinion. I think we need more refineries. I wouldn't mind a drill here stay here policy.
#13. To: Rek (#12)
#14. To: A K A Stone (#11)
That is your opinion. I think we need more refineries. I wouldn't mind a drill here stay here policy.
#15. To: lucysmom (#14)
Should government force the private sector to build more refineries?
#16. To: A K A Stone (#15)
They should put gags in all the green weenies.
#17. To: lucysmom (#16)
How many proposed refineries have the greenie weenies prevented from being built in the last ten years?
#18. To: A K A Stone (#15)
What has it been since the 70's or 80's since one has been built. I think that is what I heard. Correct me if I am mistaken.
#19. To: Rek (#18)
The refineries in my area been able to increase in size and capacity. Why build new ones?
#20. To: A K A Stone (#17)
To many. They are a factor.
#21. To: A K A Stone (#19)
So that supply can be increased thereby lowering prices. I don't support monopoly capitalism.
#22. To: Rudgear (#10)
No, but you sure as hell can build more refineries. That's the bottleneck problem.
#23. To: A K A Stone, rek, lucysmom, rudgear (#19)
(Edited)
So that supply can be increased thereby lowering prices. I don't support monopoly capitalism.
#24. To: A K A Stone (#8)
(Edited)
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times,
#25. To: go65 (#22)
he only way you get more refineries built is if the government builds and operates them. The "for-profit" energy companies don't invest in building new refineries because it hurts profits. Instead they've simply expanded capacity at existing refineries.
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