Study: Atlantic drilling could give economy $23.5B boost (government, dollar, Obama)

[mysticaltyger]

Originally Posted by celcius

$23B per year. Not small potatoes.

Would be interesting to see which of the energy companies will start sniffing around. Odds are this is a large project only economical for the oil majors.

I'm not saying it wouldn't help, but it's still small potatoes when you have an economy that produces trillion in income every year. I also think environmental concerns are legitimate.

[munna21977]

A big boost to Wall Street Biggies and their special exclusive Funds. War in Iraq also brought a big boost to corporations like Halliburton. How about boost in Minimum wages???

[nezlie]

How about leaving some oil for future generations? Or do we need to consume everything for our own use?

[pvande55]

You can bet your bottom dollar Obama, or whoever is in office, will allow it. But will the oil companies start drilling? Don't count on it. They have other fields that look more promising.

[Ruth4Truth]

Originally Posted by MrWillys

I wonder what the business owners along the gulf coast feel about this? Maybe ask some of the people in Valdez Alaska too? I just make this comment for balance, and clearly the OP's original post does not approach the subject matter with any objectivity. We could just appoint the ceo of Exxon Mobile to head up the epa and solve all our problems.

This is the first thing that came to mind when I saw the OP. We just went through a scene on the Gulf Coast. That issue needs to be considered carefully before plunging full speed ahead.

[mysticaltyger]

Originally Posted by Ruth4Truth

This is the first thing that came to mind when I saw the OP. We just went through a scene on the Gulf Coast. That issue needs to be considered carefully before plunging full speed ahead.

Yes, absolutely. Honestly, though...I really don't think there will ever be any 100% safe way to drill for oil from underneath the ocean.

[texdav]

Too late really has oil and gas industry has moved on. We are now at point that we for first time since carter was president creating more crude than we import. That without a energy policy in decades and a administration doing all he can to block for special interest. Its was funny listening to him brag about in that last speech as if he was responsible for it. Typical community organizer who never done anything but make promises.

[Osito]

Oh yeah. Then we can destroy one more ocean for the sake of our economy!

[Lincolnian]

How about the trillion dollar boost involving in building a new electrical grid coupled to next generation renewable/green power systems? What about health savings realized and jobs created by the reclamation of our decaying cities and purifying of our rivers, streams and soil to eliminate caustic carcinogens? Or how about the new transportation opportunities or markets created by locally-sourced healthier, less environmentally damaging food supplies?

There are huge potential economic drivers within and outside our borders when we move beyond "drill baby drill" not to mention preserving the world for future generations to enjoy.

[Mircea]

Originally Posted by sargentodiaz

Wow! A real boost to the economy without government spending. Think Obumbler and his Greenie buddies will allow it? Maybe everyday Americans will fight back and put people in office who will help the economy.

Originally Posted by celcius

$23B per year. Not small potatoes.

You spend $60 Billion per year on the "homeless" (snicker).

Since this is the Economics Forum, we should probably do Economics, specifically the Economics of Oil.

Black Sea Pipeline. Don't know what it is? Search C-D, I've commented extensively showing maps and other graphics.

5 Million barrels per day.

Small potatoes? By comparison TAPS is transporting ~375,000 barrels per day.

Central Asia has 5x to 7x more oil than all of MENA (Middle East/North Africa).

When that oil gets rolling onto the Market, the price of oil will drop. What happens when the price of oil declines?

The US will be forced to cap wells and shut down entire fields, plus halt some technologies, such as freaking, because the cost to operate them is greater than the cost of oil.

Canada's tar sands goo will be meaningless.

Some of you might want to do what Satayana suggests, and that is remember the past. You capped well and shut down fields in the 1970s and 1980s, because they were not profitable to operate. You uncapped those wells and started pumping again from the closed fields about 10 years ago.

While the price of oil may fluctuate, the cost to operate a well/field never fluctuates....it constantly increases.

Originally Posted by Lincolnian

How about the trillion dollar boost involving in building a new electrical grid coupled to next generation renewable/green power systems?

How about a magic wand to give the US $TRILLION+?

These estimates are more than 1 year old, but the cost to modernize and upgrade your Electrical Grid was $3.5 TRILLION.

Modernizing means removing all of the electrical components from the 1920s through the 1970s at your switching stations, main stations and sub-stations and replacing the antiquated equipment with, uh, modern equipment.

Due to the nature of the growth pattern of the US, there are many towns and cities in the Midwest that have only 1950s and 1960s technology, while in the Plains States and Southwest, the technology is often from the 1960s-1990s.

Originally Posted by Lincolnian

What about health savings realized and jobs created by the reclamation of our decaying cities and purifying of our rivers, streams and soil to eliminate caustic carcinogens? Or how about the new transportation opportunities or markets created by locally-sourced healthier, less environmentally damaging food supplies?

There are huge potential economic drivers within and outside our borders when we move beyond "drill baby drill" not to mention preserving the world for future generations to enjoy.

How about you read all of the studies that show that for every "green" job created, you lose 2.0-2.5 other jobs?
Better yet, why don't you ask the Spaniards if they want to go "green?"

Petro-chemically...

Mircea