Secondly, the largest oil reserve is in the form of shale in the Rockies and it takes digging up and processing 10,000 pounds of stone to get just ONE barrel of oil at a much more expensive cost than the current price of oil. This will NOT decrease oil prices, and may even add to the price of crude.
Lastly, even the oil companies agree that the most easily accessible oil fields in ANWR only 4 to 10 billion barrels of oil. The US consumes 7 billion barrels A YEAR! How long will that last us?
I think most stable minded individuals agree that drilling for more oil is not the answer to our energy crisis and will only help the big oil fat cats in the long run.
We need to invest in innovative new energy sources.
The hydrogen fuel cell is the wave of the future and will revolutionize the way we live!Do Republicants know that domestic oil drilling won't decrease the price of oil?
I've been saying it all along. It's a ploy, and I've began to wonder lately (not seriously, but nonetheless) if the rising gas prices isn't a way to try and get the public to cave in to what the gas companies want.Do Republicants know that domestic oil drilling won't decrease the price of oil?
See you can do both!! Drill more oil now and AT THE SAME TIME new alternatives can be found!! It is not an either or proposition!!
NO ONE has any idea how much oil is actually in ANWAR. The only surveys ever done where back in the 60-70's with outdated technology.
Congress won't even allow anyone to go and find out with newer technology because they are afraid the answer will be A LOT MORE THEN MOST PEOPLE THOUGHT!
McWar, Bush and the oil boys just want to extend their business profits. What makes you think they would lower the prices once they find the oil? They are capitalists who are only interested in profit.
We need to take the money and invest in wind, solar and hydro-electric alternatives. Which is what Obama wants to do.
They know, they just don't care. It means more product (thus more $$$) for them. If they can get it approved by telling us it will lower our gas prices, they'll do it.
One other thing people don't seem to understand about the oil industry. THERE IS NO SUCH THING AS AN ';AMERICAN OIL COMPANY';. The Oil Co's are International Corporations. The oil they get from drilling will be sold worldwide, to the highest bidder, and the Corp. gets the $$$. Their principle stock holders may be american citizens, but there is nothing in it for anyone else.
You are absolutely wrong if we were able to drill on our coasts we could be totally dependent within 5-10 years... not to mention all of the recent shale oil and gas that has been found in North Dakota and Texas..... there are formations of oil and gas that are known to be way bigger than anything the middle east has or ever had and we can only see the edge of it due to restrictions on exploration
And taxing the sh!t out of oil companies and/or nationalizing them will, right?
OK libs, here's an economic lesson - more of something to sell does lead to lower prices, but you make up your loss on price due to more volume to be sold. That's how Sam'S Club and BJ's make their money.
The oil companies don't care about America they care about profit. I find it naive from people to believe that the oil companies will forfeit their earnings somewhere else to sell the oil here at a loss of profits. They say we drank the Kool Aid but to me it seems they are so retarded.
You do know the deffinition of ';invest'; right? That means for the future. We need to solve the problem NOW. You know in the present. Unless you can pull those hydrogen fuel cells out of your a$$ oil is our main sorce of energy at the moment.
nice try to spin the issue. It will not work though. This is a winning issue for republicans and could possibly cost the democrats the presidency and congress?
The majority of American's want domestic drilling. Are you saying we should continue relying on the Middle East for our oil supply? Brazil has managed to become energy independent and they did it by drilling FIRST in their own country.
Shhh, you shouldn't tell them these facts they tend to get angry and tell you that their master is 100% correct about destroying the environment for profit.
May be not, but it will keep the capital from going out of US...
But I agree, the only answer is the alternative fuels...
Ive heard that oil will only last 2.5 years and wont affect the price for 5 years.
I don't think most republican are aware of how the futures market works at all, or that such a thing exists.
They don't actually know anything other than talking about Liberals in a derogatory manner.
It would take so long because of the liberal environmental bans.
';fat cats';
you're entire rant is cliched nonsense.
You should ask T Boone Pickens, a man making billions on oil speculation.
It will, but not by much, and only for a short time.
who cares
What I don't get is why? Why should we be dependent on foreign oil? Do you want the foreign nations to have control over us? That is the way we are headed. Other nations are getting richer and'; STRONGER AGAINST US';. If we do not drill for our own oil god knows what will happen next. Say the refuse to sell us oil? What do we do then? Scratch our heads and say geesh? as they laugh. Drill for the oil now bring down demand and in the mean time Get started on the Hydrogen fuel cells.
For now Oil, runs everything in American. We should not be dependent on other nations to survive.
Corn and rice is not the answer either. Hope people are buying stock in food because they will skyrocket next.
Farmers will use most of their land to grow corn and rice for ethanol which in turn will make everything else go up. I mean really up!
(veggies, lack of land) Milk ,bread, cheese, eggs, ect. We feed our animals feed. Don't you think Farmers will be paying higher prices to keep our animals fed? for us to have healthy animals to produce the eggs, cheese, milk and red meat....ect,ect. We will see the price of food soar because of ethanol production. Corn and rice will more then triple and in turn food will triple. We are heading for a great depression. it will come.
So drill in ANWR, off shore, anywhere we can. ';PEOPLE'; should come first.. get as much oil from the US as we can to bring down supply and demand until we develop the hydrogen fuel cell. Wake up!
We need to use our resources until we can come up with the answer for the fuel problem. Both sides don't want this because they are in the pockets of environmentalists and oil companies. Don't believe the lies they tell you. If we would build more refineries(which the oil companies and the environmentalist are against) and up our own oil production, we would have lower prices and would have enough to last until the hydrogen cell's can be perfected or whatever the next big thing is. You shouldn't try to mislead people, the truth is we have the ability to get by until we can be oil independent, and we should do so, now!
OK, the oil goes onto the INTERNATIONAL MARKETS. When SUPPLY is increased then the prices will FALL on those markets! Doesn't matter where it is exported to. And the oil that is going to asia is drilled by ASIAN companies. So if American companies drill and find oil then it will be traded in the western hemisphere.
Did you ever take an economics course? even the mention of brining more oil to the market can send the price of oil diving. Like in the 80's.
And one of the main reasons oil is so high is that Environmentalists will do anything to keep oil high so they can push their own agendas through.
Before saying something stupid I would do a bit more research than looking at one site. Like try getting a degree in Capital markets and Investments. Like I did. See the markets are mostly psychological and when people feel good about them they go up, when they feel bad they go down. They even studied the affects of weather on markets, Cloudy rainy/snowy days mean down market, Sunny Happy days mean up markets.
You could NOT be more Wrong
First of all, Alaska has vast Oil Reserves which the Democrats have blocked drilling on since 1995 which is WHY we RELY on THEIR Oil NOT OUR Oil
Second the untapped '; shale '; Oil Reserves in the Rockies would yield more Oil than Saudi Arabia has.
Europens have already proven the pros %26amp; cons of drilling:
con - England has not made ANY attempt to drill for Oil %26amp; gas is now over $ 9 a Gallon in England %26amp; their economy is a disaster.
pro- Sweden has drilled for Oil ( with no spills or negative impact to the environment ) %26amp; gas is plentiful %26amp; their economy is healthy.
Alternative energy needs to be developed but we can't WAIT 25 years for it to be developed commercially.
We NEED TO DRILL %26amp; USE OUR OIL ( NOT THEIR OIL ) NOW.
By drilling we can save our economy although we may, admittedly, have to relocate the nests of 9 owls.
We could pass a law preventing the export of domestic oil. Using our own oil means we are not importing as much of it from countries like Iran and Venezuela. It will buy us time to get our infrastructure in place and new technologies developed for alternative fuel sources. For each study saying that our domestic oil supplies are insuffiecient, there is another saying we have enough to last 100 years. Somebody must be lying. I don't know who to believe because both sides have an agend to push.
Why can Europe develop oil shale and build nuclear power plants without hurting their environment and we can't?
Why can Europe had fuel effiencient autos that run on bio-diesel and we can't?
Why can Brazil obtain energy independance and we can't?
Well, that's NOT what the experts say. Because as soon as we open up our own resources to oil extraction, the speculators on the futures market will react accordingly.
When estimates of the effect of speculators are up to 60% of the rise in oil prices, then, yes, it will definitely have an impact.
Drilling is a very good answer to the current crisis, and it is especially more beneficial to the US, in that we'll be sending less money to people who don't like us, and spending that domestically.
Our current and short term energy needs will not be met with new energy sources that won't be around for a while.
Drill, dig, and build nuclear plants and more refineries. That's the only way we're going to meet our energy needs until a new energy source is found.
I'm all for investing in alternative energy, however, when do you expect alternative energy to be a feasible and inexpensive source of fuel? We've already seen the debaucle of ethanol and how it's driven up the cost of grains and food. How long are we supposed to linger with gasoline the price that it is? I bet you live in a city where you have ample access to a mass transit system and don't have to worry about driving 70 miles round trip to work everyday like my husband does. ( we live in Montana which consumes the most gasoline/diesel per capita in the nation. When you live in rural areas like this, mass transit is not an option)
Fact is that just the mention and the passing of legislation for the drilling of more oil, will make speculation drop dramatically. That's the first thing. The other thing is that while drilling for oil today, may not have an impact on prices for another 5 or 6 years at best, it WILL increase tax revenue and infrastructure by creating more jobs and opportunity in places like rural Montana, Wyoming, and the Dakotas for starters, and as a Montana resident, I'm all for it.
When you create jobs and opportunity in as many areas of the country as possible, you also strengthen the American dollar, which is another part of the problem of expensive fuel and goods overall.
So, you are all full of condemnation for the drilling of oil, yet you offer no feasible solution for the short term to address the problem NOW while we develop new technologies and alternative fuel endeavors. What are we supposed to do in the meantime?
Yes it will! If we drill now on the coast we would have usable oil in 2-3 years! The Rockies is the one that would take 10 years ! We have enough KNOWN oil ocean side to last at least 10 YEARS! We have MORE OIL than all of the MIDDLE EAST PUT TOGETHER! If we drill now here today, GAS WILL DROP 40-50 Cents TOMORROW! Its the SPECULATORS driving up oil prices! They are buying it all up and only getting PAPER not even the OIL! Its sickening! They know Democrats are against almost ANY kind of ENergy whatsoever and would make a FORTUNE buying all they can now! UNLESS, we drill now these Speculators will loose BILLIONS! Lets DO IT! Im sick of money hungry gold diggers! We need to BURN THEM! Americansolutionscom
Anyone that says we wont see the oil for 10 years is a LIAR! These guys in the market who don't even sell GAS - the speculators are buying the gas up, getting a paper deal its theirs, then in 5-10-20 years make BIG BUCKS! Its INVESTORS and they are laughing while buying it up! They could give a HOOT that us poor folks are HURTING! While they eat shrimp and steaks every night , we eat Ramen Noodles! GET UM! Americansolutionscom
It's not in ANWR, dear. You obviously do not keep up on your news.
The largest known oil shale deposits in the world are in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.5 to 1.8 trillion barrels. Not all resources in place are recoverable. For potentially recoverable oil shale resources, we roughly derive an upper bound of 1.1 trillion barrels of oil and a lower bound of about 500 billion barrels. For policy planning purposes, it is enough to know that any amount in this range is very high. For example, the midpoint in our estimate range, 800 billion barrels, is more than triple the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, 800 billion barrels of recoverable resources would last for more than 400 years.
Sure, 400 years is also only a temporary solution. In 400 years, that will be their problem. But it won't be a problem---- because I'm sure within the next hundred years we will not be depending on oil to fuel our cars anymore.
And it's not only republicans. Read a poll. 77% of Americans want to drill.
They know this they are just so far up Mccain and Bush's Asssss that they cant think clearly.
we need to think about our FUTURE not just right now. What is best for our future?
instead they are worried about how ';racist'; Obama is and how hes such a ';muslim'; lol! you know the REAL issues here
It will take up to 3-10 years before we would even see any of that oil... Obama is correct.. flip flopping McCain is wrong.. he should have stuck with his guns in the beginning..
OBAMA 08!
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