Offshore Drilling (vote, Republican, gasoline, president)

[RangerDuke08]

Both Obama and McCain will drill offshore in Florida, Georgia and South Carolina, they know "we can't drill our way out" but they also know "drilling bridges the gap to energy independence and tommorow's renewable energy".

[calmdude]

Originally Posted by RangerDuke08

Both Obama and McCain will drill offshore in Florida, Georgia and South Carolina, they know "we can't drill our way out" but they also know "drilling bridges the gap to energy independence and tommorow's renewable energy".

Agree. We need to do both - reduce demand (as Democrats want) and increase supply (as Repulicans want).

[ontheblock]

Originally Posted by calmdude

Agree. We need to do both - reduce demand (as Democrats want) and increase supply (as Repulicans want).

Very true - just need to make sure that it doesn't become a crutch that we actually push towards the renewable energy sources and don't just sit back and soak up lower oil prices

[domino]

Originally Posted by southernnaturelover

They why was there drilling off the coast of Louisiana and Texas before the oil prices went up?

The offshore Louisiana and Texas Gulf of Mexico has been developed over time. The large inexpensive fields were developed first, as prices went up, more expensive areas further offshore were developed. With new technology, more areas became economical to produce. Another factor that makes development of this area economical is the existing infrastructure (pipelines, gathering facilities, proximity to refineries).

I am sure there are areas offshore where development as today's prices is feasible, but it's not the panaceae that the Republicans claim.

[Mike from back east]

Originally Posted by RangerDuke08

Both Obama and McCain will drill offshore in Florida, Georgia and South Carolina, they know "we can't drill our way out" but they also know "drilling bridges the gap to energy independence and tommorow's renewable energy".

True enough. Drilling will only provide a tiny amount, if and when it ever gets done. Drilling NEEDS to be part of a total team of solutions which relies heavily on other forms of energy, relegating oil to a back seat and shifting tax incentives to the other energy forms.

The "drill baby drill" bumper sticker mentality of some politicians is an empty promise, mere campaign slogans designed to play on current anger at high gasoline prices. Although its decently good politicking, its damned poor policy. Wind, solar, nuclear, natural gas, hydro, tidal and geothermal are where we now need to focus tax incentives and policy initiatives.

Most folks don't know that our nation has NEVER had a stated "National Energy Policy" that sets the course for the next 20-50 years, sets priorities for tax incentives, goals, metrics, etc. The damage done to our national security and pocketbooks by a lack of such a policy is clear. It's high time we had one.

[LML]

I'm really curious. How many of you realize that the oil that is pumped does NOT belong to the U.S.A., even though it comes from the U.S.A. It belongs to the company that pumps it. That company may well be owned by people from other countries...and often is. That company is free to sell the oil pumped from the U.S.A. to any country they wish. How many know the percentage of oil that is pumped from Alaska and sold to Japan is larger than the percentage sold in the U.S.? Just curious because everyone seems to believe that pumping oil off shore in our country will automatically provide oil to our country. This is so not true. We do not have a nationalized oil company.

[TuborgP]

Originally Posted by southernnaturelover

They why was there drilling off the coast of Louisiana and Texas before the oil prices went up?

Ok ask yourself when were those rigs started and what was the start up cost then. Do some research on the cost of offshore drilling rigs and what the demand was for them when prices were over $120. If the rig was started ten years ago obviously the break even cost was much less. Also you use up the easiest to get to oil first and then the more you need the more expensive it becomes. The analogy is a home using well water. As you use up the water closes to the surface and need to go deeper what happens to the price you pay to have it drilled? Up or down? Why do you think oil would be any different?

[TuborgP]

Originally Posted by LML

I'm really curious. How many of you realize that the oil that is pumped does NOT belong to the U.S.A., even though it comes from the U.S.A. It belongs to the company that pumps it. That company may well be owned by people from other countries...and often is. That company is free to sell the oil pumped from the U.S.A. to any country they wish. How many know the percentage of oil that is pumped from Alaska and sold to Japan is larger than the percentage sold in the U.S.? Just curious because everyone seems to believe that pumping oil off shore in our country will automatically provide oil to our country. This is so not true. We do not have a nationalized oil company.

Probably not many. It can and will be sold at market price. Also for gasoline the best to use is light sweet and that is really in short supply. Pumping more heavy crude is not going to help gasoline emissions and price.

[Mircea]

Originally Posted by southernnaturelover

They why was there drilling off the coast of Louisiana and Texas before the oil prices went up?

Um, an intelligent person would probably figure out because they had been drilling there for decades, um, you know, um, since like 1947.

[calmdude]

Originally Posted by LML

I'm really curious. How many of you realize that the oil that is pumped does NOT belong to the U.S.A., even though it comes from the U.S.A. It belongs to the company that pumps it. That company may well be owned by people from other countries...and often is. That company is free to sell the oil pumped from the U.S.A. to any country they wish. How many know the percentage of oil that is pumped from Alaska and sold to Japan is larger than the percentage sold in the U.S.? Just curious because everyone seems to believe that pumping oil off shore in our country will automatically provide oil to our country. This is so not true. We do not have a nationalized oil company.

I am aware of the exports from Alaska and other places - but not all the oil is exported out. In either case, the extra production goes into the global supply pool, and we have 25% of the world's demand. Even a small percentage increase in supply impacts proces sigificantly. If you look at the places where new oil is available, it is often costly, or it is in Russia / mid-East etc - so, we are actually making others rich(er).