Drill here & now-Pay less? Bullshit

[Seasons]

I've seen more and more bumper stickers popping up with the words "Drill here. Drill now. Pay less."

More like "Drill here, drill now, rip the whole place the fuck apart, wait seven years for the leasing, and another five for the production of what will turn out to be about eigth years worth of oil, then pay the same price, if not more."

Good idea morons.

According to the department of energy, America consumes one quarter of the world's oil, yet only sits on less than three percent of the world's known reserves.

I love the earth i love on, and i don't think tearing everything up to go and drill off of every beach, and inside every national park, refuge, and forest is going to be worth a few years worth of oil.

We should find a way to solve the problem, and not just fuck up our homeland for put it off.

This is just my opinion, though.. here is an article on the matter, giving arguments from my point of view.

Please, discuss.

[uhnoesanoob]

Funny, Bush merely mentioned the possibilty of drilling in other places, and oil has gone down like 18 bucks a barrel. I think the more you have of something the less able companies will be to jack up the prices.

[Blackhawkdown]

Actually the sooner we start drilling the sooner prices good down. The effects would be immediate, sure we may not see a drop of that oil for 7 to 10 years, but we would see the immediate decline of the price of gas. See here's the thing, and it's one most people don't care to mention, oil prices aren't based off how much oil is currently available to the market. Now the price of oil is speculative, it's based off how much oil people think there will be available in the future. So if we start drilling for oil the price of oil will go down as the future supply of oil increases.

Asides from that, nobodies really sure how much oil the US contains. But more then likely its more then a couple of years worth. Fact is that it doesn't need to last incredibly long, it just needs to have the immediate effect of lessing the price of oil while we search for a more viable energy alternative in the interim.

What's more is that drilling for oil really isn't this destructive thing anymore. Can't vouch for ANWAR right now as far as environmental concerns go, but I know a thing or two about offshore drilling. Fact is offshore drilling barely affects the environment, in fact it can be beneficial. Annually far more oil naturally leaks out of deep sea deposits then is spilled, and Oilrigs provide a reef of source for underwater life to flourish off of. Oilrigs are clean to, the majority of the muscles people eat in California come from Oilrigs because the water is cleaner out were the rigs are then off the beaches were muscles used to be harvested from.

[callofdutyfreak]

huh. I guess its true. You really do learn something new every day.

[SmilezRoyale]

While you're right that the ACTUAL effects of drilling would not effect us for some time. However, seeing as most people ignore the facts, simply announcing that the united states would start drilling again would probably scare the people in high places to lower the prices. However, the logic of "Let's not drill because it won't effect us immediately." Was used in the 90's... very ironic.

[Seasons]

At 7/19/08 05:44 AM, Blackhawkdown wrote: See here's the thing, and it's one most people don't care to mention, oil prices aren't based off how much oil is currently available to the market. Now the price of oil is speculative, it's based off how much oil people think there will be available in the future. So if we start drilling for oil the price of oil will go down as the future supply of oil increases.

That sounds very incorrect. I'm pretty sure we are already doing some drilling, as most politicians who are for drilling here have said it would take a few years to begin as all our leasing and production lines are full. I'm sorry but i think you're just flat out wrong. This is supply and demand holding hands with capitalist profiteering, not some goofy illusion

[Memorize]

Well, we haven't built a new refinery for decades (30 years). And our dependancy has only increased dramatically since.

But we've gotten better to the point where the oil that washed up is mostly natural (63%), only 1% is from oil extraction and 4% from transportation.

And since the US is heavily importing oil, i'm all for more drilling off the coasts if it means more energy independance and less oil spills over the ocean.

[adrshepard]

I seem to remember in 2003 with Katrina that the price of oil spiked because the U.S. oil rigs in the area were forced to shut down for a little while. It would seem that they were actually pumping enough to affect the price or speculation played a part.

Either way, I don't see how domestic drilling could make the price go anything but down. And so long as the expected production justifies the investment, I don't see the problem, or how the percentage of world oil the US has makes any difference.

It certainly makes more sense than dumping 50 billion dollars into every alternative energy source that comes along and pray that one of them proves to be some revolutionary technique.

[Christopherr]

I find it funny how the Democrats are pushing for drilling our own leases before ANWR.

They don't realize that every lease isn't a great place to drill, and that's the case with the leases they are pushing to drill.

Yes, they want us to drill on relatively dry ground before we drill in a location with significant amounts of oil.

[hrb5711]

At 7/19/08 10:27 AM, Seasons wrote: That sounds very incorrect. I'm pretty sure we are already doing some drilling, as most politicians who are for drilling here have said it would take a few years to begin as all our leasing and production lines are full. I'm sorry but i think you're just flat out wrong. This is supply and demand holding hands with capitalist profiteering, not some goofy illusion

From what I have read 40-60% of oil prices are speculative. It is based on the future supply of oil. All we have to do is say we will open up more places to drill and prices will drop immediately. We don't even have to start building anything for an immediate affect.

While supply and demand do of course play a part, ending oil speculation is a cause we can fix for these oil prices going wild.

I was going to put up links, but just google Oil price Speculation and you can pick any page that comes up.

[homor]

the new york times is not a trustable source for information other than goverment secrets.

[alchemylord]

At 7/19/08 02:08 PM, Christopherr wrote: I find it funny how the Democrats are pushing for drilling our own leases before ANWR.

They don't realize that every lease isn't a great place to drill, and that's the case with the leases they are pushing to drill.

Yes, they want us to drill on relatively dry ground before we drill in a location with significant amounts of oil.

But your forgetting there could be very little to no oil in ANWR. So if there isn't that much we would have spent billions of dollars and man hours and destroy a national park for a couple 100,000 barrels of oil. When all that time, effort, and money could have been used in the research, development, and production of oil free cars.

[CIX]

I hear so many conflicting views from the same left-wing side it's laughable.

You say we won't see (we already have) any noticeable price drops in years to come.
Some want to 'ban' oil speculation, which conflicts with your view.
Some want to socialize--I mean nationalize--oil refineries. Funny how this was never discussed when oil was below a dollar.
Some want to tax oil companies on their 'windfall' profits. Exxon has record profits because there is an increased global demand for oil while there is a dwindling oil supply, the increase in cost of refining crude oil, and the US dollar is the petrodollar that OPEC trades in and its steadily losing its value. For pragmatic reasons, oil companies will just pass the increase cost onto consumers. Government taxes are at 15% of the wholesale price and Exxon's net profit earnings are 10%, some of the lowest in any industry.
Some want to subsidize alternative fuels like ethanol. That was a great plan if you meant to cause world wide food shortages.