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Old 06-27-2008, 12:50 PM
 
3,283 posts, read 4,674,788 times
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Seems to me that the republicans believe that more domestic production will help bring down prices. one question i would love to ask them is if domestic production should be traded on the free market or kept for domestic consumption aka communist style?
the saudis are upping production by 500 000 !barrels per day. the effect on prices? ZERO in fact prices have gone up
if we were in a position to pull another 500 000 barrels per day at home it seems to me that this would have zero effect too!?
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Old 06-27-2008, 05:29 PM
 
8,632 posts, read 9,181,541 times
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Quote:
Originally Posted by 58robbo View Post
Seems to me that the republicans believe that more domestic production will help bring down prices. one question i would love to ask them is if domestic production should be traded on the free market or kept for domestic consumption aka communist style?
the saudis are upping production by 500 000 !barrels per day. the effect on prices? ZERO in fact prices have gone up
if we were in a position to pull another 500 000 barrels per day at home it seems to me that this would have zero effect too!?
You have a very narrowminded near sighted view of thing's. Now listen up, First off , even if it didnt effect the price we should be going after it, instead of being so dependent on other countries, but it would absolutely lower the price before a drill ever touched the ground. Drilling domestically is a part of the solution, obviously we should be looking at and have been conserving, and continue to make progress toward's alternative's. I strongly believe that in the end the most succesfull and widely used alternative to oil for our cars has not even been discovered yet! Anyone that thinks that in 20- 30 years ,that there will not be a huge world wide demand for oil, is smoking their breakfast!
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Old 06-27-2008, 05:41 PM
 
Location: Apple Valley Calif
7,475 posts, read 20,234,331 times
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I believe if we started drilling in all of the places we have oil in the US, just the sight of the derricks going up will assure the Arabs will start dropping prices immediately. They have the upper hand right now, but even starting to drill will bring them off of their high horse. Like 777 says, in 20 or 30 years, the arabs will be famous for nothing more than the world's largest beach. They better save their money, because when their oil has no value, they have no othr products, and will be staqrving to death. Then, when they want to buy cornrom us,it will cost $200 a bushel
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Old 06-27-2008, 05:45 PM
 
3,912 posts, read 4,858,628 times
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At least we would be exporting less of our money to foreign countries.
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Old 06-27-2008, 07:17 PM
 
Location: South Seattle Suburbs
3,350 posts, read 5,959,546 times
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We consume so much oil that anything we start drilling on our own would be a drop in the bucket. Besides, there's nothing we can do to control the growing demand for oil in developing nations, which is contributing to the current price spike, along with speculation.

People want to drill because they think it will fix all our problems and restore their cheap oil. It won't. It's not a solution.
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Old 06-27-2008, 08:13 PM
 
Location: hinesburg, vt
1,574 posts, read 4,424,272 times
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Domestic drilling and production increases may not lower prices, but to not develop our own sources for oil, be it crude or shale, is just not responsible. The absolute need for oil for hundreds of uses and applications will not substantially diminish over the next several decades irregardless how sucessfull we may be in getting various alternative energy sources on line. Hence, you really have question and wonder how any elected official can really be totally against developing our own resources for future needs and necessity. All sources of energy need to be on the table.
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Old 06-27-2008, 08:48 PM
 
48,516 posts, read 84,056,192 times
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Ifg we can go from 30% of our needs to 40-50% that is alot of money stopped from going out of the country. Not to even count the less we will be dependent on unstable supplies. When demand increases 50% i the world in the near future we will need all we can produce and you don't get returns in less thyan five years.I agree we need all the nergy resource we can get in the near future because the deamnd and price now is nothing to what will occur unless we do.Alternatives to replace crude at the rate we consume and the energy of crude compared to most alternatives will not be seen by many reading this.
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Old 06-27-2008, 11:23 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,064,828 times
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Short term, yes. Long term, no. Alternative energy is needed longterm, but that will take decades to transition to and we don't have decades. Of course it will take 3-5 years before the first barrel of oil will come out of ANWR (don't believe leftist 10 year estimates). However, the effect on the prices will be felt immediately after the announcement of drilling.
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Old 06-27-2008, 11:41 PM
 
Location: Sacramento
13,784 posts, read 23,832,033 times
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Quote:
Originally Posted by bchris02 View Post
Short term, yes. Long term, no. Alternative energy is needed longterm, but that will take decades to transition to and we don't have decades. Of course it will take 3-5 years before the first barrel of oil will come out of ANWR (don't believe leftist 10 year estimates). However, the effect on the prices will be felt immediately after the announcement of drilling.
I agree, this would have a pretty important impact on prices in the near term.
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Old 06-28-2008, 12:18 AM
 
955 posts, read 1,957,089 times
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Quote:
Originally Posted by bchris02 View Post
Short term, yes. Long term, no. Alternative energy is needed longterm, but that will take decades to transition to and we don't have decades. Of course it will take 3-5 years before the first barrel of oil will come out of ANWR (don't believe leftist 10 year estimates). However, the effect on the prices will be felt immediately after the announcement of drilling.
The analysis of bchris is correct. A firm, unequivocal action plan to drill will have an immediate effect on the futures market which, after all, exists to help provide certainty to the markets. I'll bet that people have no idea how the airline industry, as just one example, uses the futures market to be able to plan with some certainty their future operations.

Here is another problem or two with not drilling and hoping for other solutions. The pessimists say that it will be ten to twenty yers before oil will be provided from new sources. This is with proven technologies in an industry with known and proven capabilities. Yet it is the same people who really believe that windmills, solar, and biofuels will be able to come on line immediately. We are talking about industries that are in their infancy. Anyone who is familiar with product life cycle theory knows what happens with costs and production capabilities at the beginning of the PLC.

Here is another dirty little secret that many are afraid to talk about. As prices continue to increase for oil, the choices that people higher up on the income scale will be modified. People will do less discretionary travel, buying, etc. It is these sectors which typically employ many of the lower skilled workers like hospitality, restaurant, etc. occupations.

People in these sectors will be hit by a double whammy. First, lower hours worked coupled with increasing fuel prices. This is the sector that is most unlikely to be able to adapt to change. These are the people who will be least likely to be affected positively by new sources of energy.

Take plug in vehicles. Where will the problems be? In a vehicle parked in a locked garage in some suburb or miles of wires strungs out from sockets with questionable electric amperage capabilities in high density living conditions? You must look yourself in the mirror and answer the question honestly.

Conservation? Take a look at where recycling takes place and again answer honestly what economic strata recycles. Mass transit? Light rail? Will these be available immediately? Will they be on line quicker than if we drill for oil?

It is just the crowd that rails against the "disparity between the rich and the poor" who is unwilling to look at the fact that not drilling will increase this disparity.
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