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. #201
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    Re: Domestic Drilling

    Quote Originally Posted by cpwill View Post
    how has that worked out for Venezuela?
    It didn't. If I recall, it’s not actually nationalized in Venezuela, unless you call nationalization putting it in a few pockets of those that have power.

  2. #202
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    Re: Domestic Drilling

    yeah, it's nationalized. First they nationalized their internal production, and then they siezed foriegn production.

    a hint: like the vast majority of other examples we have of nationalizing industries.... it hasn't worked out well.

  3. #203
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    Re: Domestic Drilling

    Quote Originally Posted by Whovian View Post
    One of the most effective campaign sloguns since we passed peak oil in this country 40 years ago!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  4. #204
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    Re: Domestic Drilling

    Quote Originally Posted by cpwill View Post
    I'd call the entire coast of california pretty large. I would call the largest single oil reserve in the world pretty good-sized too.
    I said cheap oil.



    the problem being that that metric is dependent on a static amount of available supply; which history shows to be a false conclusion. we're constantly finding new reserves, and new ways to get more from the old.

    What peak oil represents is the point the US passed in 1971, when those new finds and new technologies do not keep up with demand. With all the new finds and new technology, there has not been a single year in the US when we produced as much oil as we did in 1971.
    Last edited by Catawba; 05-15-11 at 02:52 AM.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  5. #205
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    Re: Domestic Drilling

    and in that time since 1971, have we been drilling off the east coast, the gulf, the west coast, in the rockies, and in alaska?


    this is like saying that you will never run fast again because you ran a 15-minute two mile in high school and then spent the next ten years sitting on the couch and eating cheeseburgers.... so obviously since we can assume a steady state, and you will never get off the dang couch, eat a salad, and run regularly... you cant run ever again....... you have reached and passed peak running

  6. #206
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    Re: Domestic Drilling

    Then, croniccynic, cpwill & Mayor Snorkum (essentially) there is no US oil. Just oil from international companies (Shell, BP etc.) that have the rights to pump it from here, there and everywhere. So, who are the people that talk about our, American (US), oil? Dont they know there is no such thing?

  7. #207
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    Re: Domestic Drilling

    i know that jobs drilling in the US are non-exportable. You can't hire a guy who lives in shanghai to drill in south dakota. i know that these jobs typically pay above the national average. i know that these drills will increase the supply of oil on the market, thereby providing a depressing force on the price. i know that the companies and the workers will both be paying taxes, increasing revenue at a time when we desperately need it. I know that an explosion in drilling, the jobs that it brings, and the investment that it brings, will be a jobs bonanza - at a time when we are suffering from high unemployment.


    I'm willing to call American oil pulled out of the dirt by American workers in a way that benefits the government and the people of the United States of America "American" irrespective of what the name painted on the equipment is. My brother works at a Toyota Plant. Kentucky was dang glad when Toyota built that plant, too.

  8. #208
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    Re: Domestic Drilling

    Quote Originally Posted by OhIsee.Then View Post
    Then, croniccynic, cpwill & Mayor Snorkum (essentially) there is no US oil. Just oil from international companies (Shell, BP etc.) that have the rights to pump it from here, there and everywhere. So, who are the people that talk about our, American (US), oil? Don’t they know there is no such thing?
    There is, but source means absolutely nothing to a gasoline or diesel consumer buying by the liter or gallon. Global demand is what determines oil pricing, not US emotion or politics. The US imports close to 70% of oil consumption and that number is expected to reach 75% within the next few years, regardless of increased US drilling. So, it wouldn't matter if the US reversed that number, importing 25%, it would still pay global price per barrel for all oil. Naivete about the economic structure of oil production is almost as amusing as people buying a Chevy or Ford because they want to buy an 'American' vehicle when more than 50% of the components of a US marque are imported.

  9. #209
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    Re: Domestic Drilling

    Quote Originally Posted by cpwill View Post
    i know that jobs drilling in the US are non-exportable. You can't hire a guy who lives in shanghai to drill in south dakota. i know that these jobs typically pay above the national average. i know that these drills will increase the supply of oil on the market, thereby providing a depressing force on the price. i know that the companies and the workers will both be paying taxes, increasing revenue at a time when we desperately need it. I know that an explosion in drilling, the jobs that it brings, and the investment that it brings, will be a jobs bonanza - at a time when we are suffering from high unemployment.


    I'm willing to call American oil pulled out of the dirt by American workers in a way that benefits the government and the people of the United States of America "American" irrespective of what the name painted on the equipment is. My brother works at a Toyota Plant. Kentucky was dang glad when Toyota built that plant, too.
    Happy about giving away tax revenue, transferring infrastructure repair/replacement for that plant to the citizenry, accepting environmental damage, increasing US imports and trade imbalance for a few assembly jobs where the company profits leave the country? Kentucky must have some pretty sleazy politicians to consider those votes that important.

  10. #210
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    Re: Domestic Drilling

    cpwill,
    Wow! Just two things. First, the internationals are already controlling production in the US as they are internationally.
    So I dont agree with your
    i know that these drills will increase the supply of oil on the market, thereby providing a depressing force on the price.

    Too bad though.
    And, calling it American oil allows for ambiguity when leveraged into other statements. I thought youd have a strong preference for disambiguation.

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