View Poll Results: Additional domestic drilling will reduce oil prices

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  • Yes

    33 48.53%
  • No

    19 27.94%
  • Maybe

    16 23.53%
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Thread: Domestic Drilling

  1. #181
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    Re: Domestic Drilling

    Quote Originally Posted by evanescence View Post
    What? No one likes the idea of air cars? I guess Big Oil wins.

    It's not exactly as if other options don't exist.
    No serious effort will be made by the US to develop and mass produce any alternative with oil remaining relatively cheap. Once world demand pushes oil prices above $150-175/barrel, and it will, more research and development funding will be directed at feasible alternatives. Until then Americans, tied at the hip to fossil fueled vehicles and rejecting mass transit, will pay the price of inefficiency and a weak currency by watching their disposable income vanish.

  2. #182
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    Re: Domestic Drilling

    Quote Originally Posted by croniccynic View Post
    No serious effort will be made by the US to develop and mass produce any alternative with oil remaining relatively cheap. Once world demand pushes oil prices above $150-175/barrel, and it will, more research and development funding will be directed at feasible alternatives. Until then Americans, tied at the hip to fossil fueled vehicles and rejecting mass transit, will pay the price of inefficiency and a weak currency by watching their disposable income vanish.
    So basically, people will wait until it's too late, and at the last minute attempt to develop more efficient alternative energy since profit is God. Sounds about right.
    “In politics, stupidity is not a handicap.” -Napoleon

  3. #183
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    Re: Domestic Drilling

    Quote Originally Posted by evanescence View Post
    So basically, people will wait until it's too late, and at the last minute attempt to develop more efficient alternative energy since profit is God. Sounds about right.
    I'm an atheist but in the private sector investment, including oil production, requires a tangible, positive return. Nationalism, idealism and other emotion won't provide that return.

  4. #184
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    Re: Domestic Drilling

    Quote Originally Posted by Catawba View Post
    The reversal of the unemployment spiral, the rebound of the stock market and the increase in GDP all tipped me off. I never expected Obama to be able to turn things around in a single term, yet he has!
    He turned the economy around with his wreckovery?

    The economy would have turned itself around, had Obama not gotten in the way.

  5. #185
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    Re: Domestic Drilling

    Oil is fungible and costs very little to ship. The large companies that pump it out of the ground are international. Therefore, oil pumped out of the ground in the US is an international ‘product’. Other international suppliers, esp. the Saudi’s can pump a lot more oil than they do, but they control the amount they pump to maintain price w/o hurting the world economies too much. If they cause recession or depression they make less money.

    Speculators are having a wonderful time with oil. There seems to be the perfect time delay between the interruption of one of the many suppliers and the pick-up in production buy other suppliers to buy and sell. We made a nice amount with the BP blow out.

    If we nationalized our oil sources and had enough production to supply our needs plus a significant percentage, we could be oil independent. Dream on.

    So, nothing is going to change until there is an alternate to oil that doesn’t have the issues of oil. And we’ll need a lot of it to significantly displace oil to change the economics of oil.

    Oil the way we are making a political issue of it makes no real sense, but those that don’t understand the basic issues can be manipulated by this issue. Drill baby drill! Simple, right? No.

  6. #186
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    Re: Domestic Drilling


  7. #187
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    Re: Domestic Drilling

    Quote Originally Posted by evanescence View Post
    So basically, people will wait until it's too late, and at the last minute attempt to develop more efficient alternative energy since profit is God. Sounds about right.
    Yep. Welcome to America.

  8. #188
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    Re: Domestic Drilling

    Quote Originally Posted by OhIsee.Then View Post
    Oil is fungible and costs very little to ship. The large companies that pump it out of the ground are international. Therefore, oil pumped out of the ground in the US is an international ‘product’. Other international suppliers, esp. the Saudi’s can pump a lot more oil than they do, but they control the amount they pump to maintain price w/o hurting the world economies too much. If they cause recession or depression they make less money.

    Speculators are having a wonderful time with oil. There seems to be the perfect time delay between the interruption of one of the many suppliers and the pick-up in production buy other suppliers to buy and sell. We made a nice amount with the BP blow out.

    If we nationalized our oil sources and had enough production to supply our needs plus a significant percentage, we could be oil independent. Dream on.

    So, nothing is going to change until there is an alternate to oil that doesn’t have the issues of oil. And we’ll need a lot of it to significantly displace oil to change the economics of oil.

    Oil the way we are making a political issue of it makes no real sense, but those that don’t understand the basic issues can be manipulated by this issue. Drill baby drill! Simple, right? No.
    Agreed. Many posters in this thread display a defined lack of business knowledge, in this instance the economic structure of producing a global commodity by source, but there's certainly no lack of nationalistic emotion. All politicians react to emotion driven issues like a rat to cheese; easy pickings.

  9. #189
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    Re: Domestic Drilling

    Quote Originally Posted by evanescence
    So basically, people will wait until it's too late, and at the last minute attempt to develop more efficient alternative energy since profit is God. Sounds about right.
    Quote Originally Posted by rocket88 View Post
    Yep. Welcome to America.
    If you don't like it, feel free to move to Spain. They've been pouring tons into Green Jobs - feel free to go check out how that's working for them.

  10. #190
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    Re: Domestic Drilling

    Theism has nothing to do with this issue. And there is no doubt that there could be positive return with alternative energy.
    “In politics, stupidity is not a handicap.” -Napoleon

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