Drill here, drill now.

[Pete]

Drill here, drill now.

Not while I'm POTUS

"The Obama Moratorium: No offshore drilling while he’s in office"

Read more at the Washington Examiner: http://www.washingtonexaminer.com/op...#ixzz0hocvQXkS


"...The Obama administration’s six-month delay in approving new offshore drilling leases in federal waters will become a new three-year ban, Interior Secretary Ken Salazar quietly told reporters last Friday. Which means that no new oil and gas leases will be approved during President Obama’s term even though two –thirds of the American public supports such activity................"

[monsterhunter]

Since when does this POTUS give a crap about what the people want anyway? While he is busy admiring himself in the mirror, he may as well just increase our dependancy on foreign oil.

[Sigaba]

Originally Posted by monsterhunter

Since when does this POTUS give a crap about what the people want anyway? While he is busy admiring himself in the mirror, he may as well just increase our dependency on foreign oil.

See, that's just cynical.

The current president does care about what the people want. How do I know? Because he says so. Over and over and over again. When a politician from Chicago says something over and over and over again, it has to be true.

Here's why his moratorium makes perfect sense. The ban will allow his administration to continue super [duper] secret negotiations with the Kingdom of Saudi Arabia for a massive consignment of grade A sand.

Using hot air from his vice president and the speaker of the house of representatives, the sand will be turned into glass and the glass used to make a network of super [duper] giant mirrors.

In the greatest act of civil engineering since Katie Couric's last face lift, these mirrors will be positioned throughout the United States so that no American can turn his or her head more than fifteen degrees without seeing the reflected glory of the president.

The warmth of the glory will reduce energy costs and restore the vitality of the economy. The brightness of the glory will illuminate the wisdom of the president's policies for all of us too stupid to see how great they were in the first place.

[Peregrino]

Democrats - the only force in the universe that can have our cake and eat it too.

[Don]

Originally Posted by Broadsword2004

Regarding off-shore drilling, the Democrats always say it won't lower the price of gas because the influence of the American oil industry on the global price of crude is too small.

But then whenever oil (and hence gasoline) prices are going up, well then all of a sudden they do a 180 and are accusing Big Oil of gouging the American consumer.

I fail to understand how an increased domestic supply will not cause the price to go down...basic supply and demand. More oil...more gas...less demand...lower price.

Oh, yeah, I get it...more domestic production means more oil on the GLOBAL market, which further dillutes the US ability to lower global price. I've heard our largest oil company is not even in the top 15 worldwide.

So, why try to manipulate world market prices when we can reduce oil exports and keep more of the oil within our borders? Why is the price of a gallon of gas in Venezuela $.12? Forget about Chavez and the current situation...back in 95 when I was there it was not very different. Would this have anything to do with the amount they retain vice put on the world market?

I guess the answer is obviously about political/economic dogma. Our game is about turning a profit, not socialism. What do y'all think? Am I off track?

[Sten]

Originally Posted by Broadsword2004

Well from my limited understanding (very limited I might add!) of the oil industry, it isn't affected just by supply and demand. It also is affected for example by the number of refineries. There might be enough oil to lower prices but if the refining capacity is limited, that will keep prices higher.

Some say its environmentalists who don't allow the construction of more refineries, but I've also read the oil industry does not want more refineries either because that way it keeps oil more costly.

Oil companies operate on a very small profit margin and the oil industry is cyclical.

The other part is the financial markets, which influence the prices of commodities as well. That oil bubble in late 2008 was financial, it had nothing to do with lack of supply to meet demand.

Man the oil companies have it hard, poor little guys.

[The Reaper]

I said previously that I wished President Bush had done the following. There is no reason that our current leadership could not do the same, if they had the intestinal fortitude.

1. For the short term, we are going to drill offshore, in the Bakken Formation, in ANWAR Alaska, if it is proven to have, or likely have oil, we are going to drill there, as soon as we can get the rigs on site. We are going to mine coal as well, and drill the hell out of natural gas. That should put quite a few people to work, drop gas prices as soon as we announce it, and put the current oil exporters on notice that we are moving along, soon to be without them and their oil. You tree huggers can kiss my ass. This is about our future survival as a nation. You will be fine with the results when we are done. We are going to be oil exporters, if we want, by the end of this phase.

2. For the mid-term, we are going to start fast-track construction on nuclear power plants. I would like to see at least 100 in the next ten years. Might start installing some of those small scale community-type micro plants as well, if they can be made practical. Sorry NIMBYs, Yucca Mountain is open for business and will start receiving waste tomorrow. You protesters can cry all you want. We are going to stop burning coal and oil in power generation by the end of this phase. While we are at it, we are going to see if electrical cars can be made practical. I want something that can run 100 mph, go 250 miles on a charge, cost less than $20,000, and recharge in an hour or two from a home 220 outlet or charge station. The first one to meet the contest requirements gets to sell a million of them here in the first couple of years.

3. For the long-term, we are going to find a clean and efficient alternative to the internal combustion engine, as we know it. Nuclear, fuel cell, magnetic, solar, cold fusion, I don't care what. The government will award a prize of $100,000,000,000 to the first working design that meets our goals and makes it into production for consumers. Be nice if it could generate power for homes as well. You America haters can move out and draw fire. We are going to break this cycle and show the world how it is done again. All of you people sitting on oil will be seeing us pack up our military forces, expensive contracts, and foreign aid and leave you to your own devices. You might want to start working now on a plan to make sand edible. Just a thought.

Y'all have a nice day now.

TR

[Maytime]

TR for President 2012!

[GratefulCitizen]

Originally Posted by Broadsword2004

The other part is the financial markets, which influence the prices of commodities as well. That oil bubble in late 2008 was financial, it had nothing to do with lack of supply to meet demand.

Oil demand in this country peaked in 2005.
There has never been a supply shortage.

There has, however, been on oversupply of cheap money.
Current oil prices have nothing to do with fundamentals and everything to do with cheap money.

When China's bubble pops, things will get interesting.

http://seekingalpha.com/article/1927...w-unmistakable

[Don]

Originally Posted by Broadsword2004

Well from my limited understanding (very limited I might add!) of the oil industry, it isn't affected just by supply and demand. It also is affected for example by the number of refineries. There might be enough oil to lower prices but if the refining capacity is limited, that will keep prices higher.

Some say its environmentalists who don't allow the construction of more refineries, but I've also read the oil industry does not want more refineries either because that way it keeps oil more costly.
Oil companies operate on a very small profit margin and the oil industry is cyclical.

The other part is the financial markets, which influence the prices of commodities as well. That oil bubble in late 2008 was financial, it had nothing to do with lack of supply to meet demand.

Almost every point you bring up above is supply and demand related. If demand is high…and supply low (no matter what the reason) the price goes up. That’s why the futures market guys cant just jump out there and say…”sand is now worth $100 an ounce”. Hell, I’d go fill up a bucket and go buy that F-150 I’ve been eyeing.

You do make a good point on the refineries. Again…it is about supply and demand. Curtail the ability to refine the raw material to what the user needs…less supply and more demand. Higher prices.

I have not yet heard the “oil companies don’t want to build” conspiracy theory yet. I thought about it and that argument just doesn’t hold water. Why would an oil company want to keep refining capacity down? So they can jack up prices and have the consumer change their habits to fit their pocketbook? Yeah…I am selling $5.00 gas…but my output just significantly dropped. Consumers adjust habits to fit the pocketbook. The result is more product on the market…and a drop in prices. I guess it all boils down to Government control. Is it more profitable to build a refinery and deal with the governmental bureaucracy and environmental BS (there is no cost benefit to expanding that part of the industry) …or roll like we have been and hope for the best. Remember...government is not about turning a profit. As a matter of fact the dogma of the two groups (government and business) are diametrically opposed.

I agree that, although it goes against all logic, the profit margin for big oil is low. Say what? Even though they recorded the highest profits EVER, that was a snapshot in time. On day X…they made 15 gajillion dollars profit…fast forward two quarters…don’t they have to now go out on the market and buy crude that 6 months ago cost $50.00 and now costs $75.00...or $100.00? There goes them wild profits. Ask yourself, what costs more, refining our own product …or buying over-inflated crude from an international cabal?

Drill here…drill now…government needs to get the hell out of the way of capitalism. Let the free market rule! I am all in agreement with TRs post.

[The Reaper]

Originally Posted by Broadsword2004

Does the ANWAR reserve, and the reserves off-shore, have enough oil to really make a difference though?

Does the nation have enough oil to become a net oil exporter again?

Is there enough uranium to supply this many powerplants? (from what I've read, the global uranium supply has limits too)

It is a demand issue, as well as supply.

If we continue with a ban on drilling, we are not going to have any production, or even exploration in those areas.

As far as uranium goes, my understanding is that there is more than a 100 year supply available at current consumption rates, and more than twice that much which should be economically recoverable. Since a large part of the fissionable material remains after being removed as fuel rods, reprocessing and recovery should provide many centuries of fuel beyond that. The largest known reserves are in Australia and Canada.

This is a stopgap measure as well, since our ultimate goal is a sustainable long-term power source. Unfortunately, if we do not adopt a plan which will sustain us long enough to discover new energy sources, we are going to find that our society is going to implode as current conventional sources become depleted and uneconomical to produce. I am not an expert, but it seems to me that currently increasing global energy needs and declining available resources are rapidly on their way to a crossing point in the not too distant future. Not looking for a long-term sustainable solution, and supporting short- and mid-term plans to provide for our needs till then would seem to me to be imprudent.

I am not sure that any of our elected leadership have the stones to buck the interests and groups that would be opposed to such plans. We truly have our heads in the sand.

Just my .02, YMMV.

TR

[Joe_Snuffy]

Originally Posted by The Reaper

I said previously that I wished President Bush had done the following. There is no reason that our current leadership could not do the same, if they had the intestinal fortitude.

1. For the short term, we are going to drill offshore, in the Bakken Formation, in ANWAR Alaska, if it is proven to have, or likely have oil, we are going to drill there, as soon as we can get the rigs on site. We are going to mine coal as well, and drill the hell out of natural gas. That should put quite a few people to work, drop gas prices as soon as we announce it, and put the current oil exporters on notice that we are moving along, soon to be without them and their oil. You tree huggers can kiss my ass. This is about our future survival as a nation. You will be fine with the results when we are done. We are going to be oil exporters, if we want, by the end of this phase.

2. For the mid-term, we are going to start fast-track construction on nuclear power plants. I would like to see at least 100 in the next ten years. Might start installing some of those small scale community-type micro plants as well, if they can be made practical. Sorry NIMBYs, Yucca Mountain is open for business and will start receiving waste tomorrow. You protesters can cry all you want. We are going to stop burning coal and oil in power generation by the end of this phase. While we are at it, we are going to see if electrical cars can be made practical. I want something that can run 100 mph, go 250 miles on a charge, cost less than $20,000, and recharge in an hour or two from a home 220 outlet or charge station. The first one to meet the contest requirements gets to sell a million of them here in the first couple of years.

3. For the long-term, we are going to find an clean and efficient alternative to the internal combustion engine, as we know it. Nuclear, fuel cell, magnetic, solar, cold fusion, I don't care what. The government will award a prize of $100,000,000,000 to the first working design that meets our goals and makes it into production for consumers. Be nice if it could generate power for homes as well. You America haters can move out and draw fire. We are going to break this cycle and show the world how it is done again. All of you people sitting on oil will be seeing us pack up our military forces, expensive contracts, and foreign aid and leave you to your own devices. You might want to start working now on a plan to make sand edible. Just a thought.

Y'all have a nice day now.

TR

My thoughts exactly.

I like the way you think TR. Too bad you've got too much self respect and integrity to run for office.

[akv]

Originally Posted by Sigaba

See, that's just cynical.

The current president does care about what the people want. How do I know? Because he says so. Over and over and over again. When a politician from Chicago says something over and over and over again, it has to be true.

Here's why his moratorium makes perfect sense. The ban will allow his administration to continue super [duper] secret negotiations with the Kingdom of Saudi Arabia for a massive consignment of grade A sand.

Using hot air from his vice president and the speaker of the house of representatives, the sand will be turned into glass and the glass used to make a network of super [duper] giant mirrors.

In the greatest act of civil engineering since Katie Couric's last face lift, these mirrors will be positioned throughout the United States so that no American can turn his or her head more than fifteen degrees without seeing the reflected glory of the president.

The warmth of the glory will reduce energy costs and restore the vitality of the economy. The brightness of the glory will illuminate the wisdom of the president's policies for all of us too stupid to see how great they were in the first place.

Now this is the way to gripe, my only question is doesn't the sun only shine for president Alcibiades...I mean Obama?

Originally Posted by The Reaper

Entire Post

I especially like paragraph 3, but then I'm the only Republican in San Francisco...

[robert2854]

I can't understand these this political majotity, the people are not a concern of theirs, just more government and more dependence on the government and other nations. Maybe this is why we are fast becoming a service only company ie-don't manufacture anything and can't devolpe anything because it might affect the snail darter or some other fish, animal or insect..


God Bless America

[GratefulCitizen]

Originally Posted by Broadsword2004

I think a good way to greatly lengthen out the supply of petroleum is to stop using it (and other fossil fuels) for energy and seek alternative sources, or figure out a way to greatly reduce its use (like an IC engine that gets the same power for 50% of the fuel use). That way it could be used solely for chemicals and materials mostly.

Disagree.
That is not how mineral economics works.

The current problem with petroleum is not the amount in the ground, it is the infrastructure required to extract it, transport it to market, and sell it...for a profit.

This infrastructure is a considerable long-term investment.
Threaten the long-term profits, and no investment will be made.

This is why Russia, Mexico, and Venezuela are facing declining production.
Nobody will make long-term investment, because long-term profits are unlikely.

Venezuela's production has declined during Chavez's tenure:
http://tonto.eia.doe.gov/country/img...etro_large.png

Mexico's started declining around the time US oil consumption peaked and Canada's production was increasing.
Mexico: http://tonto.eia.doe.gov/country/img...etro_large.png
Canada: http://tonto.eia.doe.gov/country/img...etro_large.png

After a rapid increase, Russia's has peaked. Putin's been shaking that money tree too much.
http://tonto.eia.doe.gov/country/img...etro_large.png


The biggest long-term threat right now is a plummet in prices.
This is where China's bubble could cause a problem.

Money would flow out of commodities.
Investments wouldn't be made.

The cover of the Economist in March, 1998:
http://z.about.com/d/middleeast/1/0/...-/0610-oil.jpg

Oil was down to $10-11 per barrel in 1998.
What happened over the next decade?