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Drill baby drill and let the oil companies make a killing selling the oil they find to China When they mess up then they can run to countries like Russia and share the profits with them.
Lol, you must be kidding me. You think decreasing the use of oil by 30% would have no effect on the economy? How would cars go, factories run, planes fly?
Your argument assumes no change in behavior of oil consumers.
Quote:
If the US used 30% less oil their would be a whole lot of oil sloshing around the world. Therefore the price would drop. Price is a function of supply and demand.
The U.S. consumes 25% of the world's oil production. That is about 20,000,000 per day. Reduce that amount by 30% brings you to about 14,000,000 b/d a reduction of 6,000,000 b/p. So what we are talking about is 30% of 25% of the world's supply consumed by the U.S., which according to my poor math skills comes out to a whopping 7.5% increase in the total world wide supply of oil.
One other thing that you might consider, this increase in price comes at a time when U.S. demand for oil is and has been in decline. So as a result of relying on just simple supply and demand model (which failed) you also aren't considering the actual factors that have led to the recent upswing in prices, instability in the middle east causing speculation in the oil markets.
I laugh because the people who complain the most are the ones who insist on driving their gas guzzling trucks and suv's.
I drive an 1987 Nissan 4x4 pick-up that gets 7 mpg highway and 0 mpg city, and you will never hear me complain. I also intentionally rev my engine at stop lights to demonstrate my ardent support for Global Warming.
Your argument assumes no change in behavior of oil consumers.
The U.S. consumes 25% of the world's oil production. That is about 20,000,000 per day. Reduce that amount by 30% brings you to about 14,000,000 b/d a reduction of 6,000,000 b/p. So what we are talking about is 30% of 25% of the world's supply consumed by the U.S., which according to my poor math skills comes out to a whopping 7.5% increase in the total world wide supply of oil.
One other thing that you might consider, this increase in price comes at a time when U.S. demand for oil is and has been in decline. So as a result of relying on just simple supply and demand model (which failed) you also aren't considering the actual factors that have led to the recent upswing in prices, instability in the middle east causing speculation in the oil markets.
The US also generates 25% of the world's wealth. Are you going to gut that by 30% as well?
I drive an 1987 Nissan 4x4 pick-up that gets 7 mpg highway and 0 mpg city, and you will never hear me complain. I also intentionally rev my engine at stop lights to demonstrate my ardent support for Global Warming.
The US also generates 25% of the world's wealth. Are you going to gut that by 30% as well?
You know, I really get tired of having to repeat myself over and over again. Under what scenario would the U.S. be able to reduce its oil consumption other than by changing behaviors, i.e., relying on mass transportation, increased usage of hybrid, electric and hydrogen power sources, use of alternative energy, a using other alternatives to petroleum based products etc?
Now I know even considering these options in an anathema to some of you folks, I would suggest that you can do like that old advertising slogan went, you can pay now or you can pay later, but eventually that is what is going to have to take place. Trying to remain on oil based economy is like a heron addict thinking that methadone is the same as being drug free.
Explain in the greatest of detail exactly how drilling will lower the price of gasoline.
---pulls up a chair
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When they mess up then they can run to countries like Russia and share the profits with them.
