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Domestic Drilling

Additional domestic drilling will reduce oil prices

  • Total voters
    57
cpwill said:
how has that worked out for Venezuela?
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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.
 
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.
 
Whovian said:
With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production
051411_obama.jpg

Drill, baby... drill!!!!!!
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One of the most effective campaign sloguns since we passed peak oil in this country 40 years ago! :sun
 
cpwill said:
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.
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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.
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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.
 
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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 :roll:
 
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?
 
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.
 
OhIsee.Then said:
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?
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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.
 
cpwill said:
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.
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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.
 
cpwill,
Wow! Just two things. First, the internationals are already controlling production in the US as they are internationally.
So I don’t 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 you’d have a strong preference for disambiguation.
 
croniccynic said:
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.
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Today the capacity for the world’s oil ‘production’ far exceeds its use. The Saudi’s alone can easily make up for the lost Libyan oil. Global demand isn’t the first order driver for the price of oil. Controlling the supply, which the Saudi’s and others do, and speculation are the first and second order drivers. To stop this there would need to be a benevolent supplier (One that is not trying to maximize profit.) of oil with the capacity on the order of the Saudi’s. None of North America’s wells are run by benevolent suppliers.
 
There is a nationalized oil company that is working very well, too well. From wiki:
Saudi Arabian Oil Company, is the state-owned national oil company of Saudi Arabia. It is the world's most valuable company, estimated at 781 billion US$ in 2006, while more recent estimates of 2010 put its value in the range 2.2 trillion USD to 7 trillion USD. It is also the oil corporation with the largest proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was known as just Aramco between the years of 1933-1988, an acronym for Arabian American Oil Company.
Its yearly production is 3.4 billion barrels and it managed over 100 oil and gas fields in Saudi Arabia totaling at least 264 billion barrels of oil reserves and 253 trillion scf of gas reserves.
Among those fields fully owned by the company is the Ghawar Field, the world's largest oil field; the Safaniya Field, the world's largest offshore field; and the Shaybah Field, one of the world's largest of its kind.
 
Whovian said:
With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production
051411_obama.jpg

Drill, baby... drill!!!!!!
Click to expand...

No

It's perfectly clear that Obama does not want US domestic drilling, because it's perfectly clear that Soros and the other Hate America leftists don't want it.

Also, he's campaigned vigorously against domestic drilling, even to the point of closing vast tracts to drilling as he "opened" others. His ploy is obviously cynical and political, and exactly what one expects of a teleprompter reader following orders from outside.

What Obama is doing is posturing. Certainly if he got re-elected he'd renege on that goal before he could misspeak the Oath of Office again.
 
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Mayor Snorkum said:
No

It's perfectly clear that Obama does not want US domestic drilling, because it's perfectly clear that Soros and the other Hate America leftists don't want it.

Also, he's campaigned vigorously against domestic drilling, even to the point of closing vast tracts to drilling as he "opened" others. His ploy is obviously cynical and political, and exactly what one expects of a teleprompter reader following orders from outside.

What Obama is doing is posturing. Certainly if he got re-elected he'd renege on that goal before he could misspeak the Oath of Office again.
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Huh? I don't understand your post re. the issue. Am I just stupid?
 
OhIsee.Then said:
There is a nationalized oil company that is working very well, too well. From wiki:
Saudi Arabian Oil Company, is the state-owned national oil company of Saudi Arabia. It is the world's most valuable company, estimated at 781 billion US$ in 2006, while more recent estimates of 2010 put its value in the range 2.2 trillion USD to 7 trillion USD. It is also the oil corporation with the largest proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was known as just Aramco between the years of 1933-1988, an acronym for Arabian American Oil Company.
Its yearly production is 3.4 billion barrels and it managed over 100 oil and gas fields in Saudi Arabia totaling at least 264 billion barrels of oil reserves and 253 trillion scf of gas reserves.
Among those fields fully owned by the company is the Ghawar Field, the world's largest oil field; the Safaniya Field, the world's largest offshore field; and the Shaybah Field, one of the world's largest of its kind.
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i think you are missing my point. I didn't ask how the oil company did. I asked how the country was doing, how the people were doing.

And Saudi Arabia is in trouble - they have a rentier economy that is utterly and completely dependent upon fluctuating oil markets.
 
cpwill said:
And Saudi Arabia is in trouble - they have a rentier economy that is utterly and completely dependent upon fluctuating oil markets.
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Unlike the US, Saudi Arabia is investing heavily in alternative energy for the future:


Saudi Arabia, Qatar & UAE Investing Heavily in Clean Energy

"Saudi Arabia, Qatar and the United Arab Emirates are all investing heavily in clean energy technologies. It might seem counterintuitive that some of the most oil rich countries on Earth are investing in the promotion of a competitor technology, but as an article in today's NY Times points out, the leaders of these Gulf Emirates are well aware that their vast wealth comes from a limited resource, and they are actively interested in developing the new energy technology for the future to make their economies sustainable even after all their oil is pumped."
 
good. hopefully when (if) their supply runs out, they will be able to switch over to that, then.

but their economy will remain rentier until they develop their own market. and currently theirs sucks.
 
cpwill said:
good. hopefully when (if) their supply runs out, they will be able to switch over to that, then.

but their economy will remain rentier until they develop their own market. and currently theirs sucks.
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We are still kissing their ass so I guess they are not doing too badly?
 
Catawba said:
Unlike the US, Saudi Arabia is investing heavily in alternative energy for the future:


Saudi Arabia, Qatar & UAE Investing Heavily in Clean Energy

"Saudi Arabia, Qatar and the United Arab Emirates are all investing heavily in clean energy technologies. It might seem counterintuitive that some of the most oil rich countries on Earth are investing in the promotion of a competitor technology, but as an article in today's NY Times points out, the leaders of these Gulf Emirates are well aware that their vast wealth comes from a limited resource, and they are actively interested in developing the new energy technology for the future to make their economies sustainable even after all their oil is pumped."
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Saudi Arabia cannot export SUNLIGHT.

So, when their oil runs out, they're in deep camel poo.
 
Catawba said:
And so are we! :sun
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Nah, by that time the nation should be cleansed of all that socialist environmentalist looney toons bull****, and with two trillion barrels of oil to draw from, we'll be doing fine.
 
Mayor Snorkum said:
Nah, by that time the nation should be cleansed of all that socialist environmentalist looney toons bull****, and with two trillion barrels of oil to draw from, we'll be doing fine.
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At $200 a barrel, how does that help our economy? Peak oil does not represent the end of oil, it represents the end of cheap oil. :sun
 
Your Star said:
I say we move away from oil all together, and focus on new energy sources.
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Black and white statements like that do little to help, and insults the investments ($billions) that are already continuously being made. Face the facts, we are NOT going to stop using oil in your lifetime. Research the chemistry and transportation issues yourself.
 
Catawba said:
We are still kissing their ass so I guess they are not doing too badly?
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well yeah. we're stupid enough not to take advantage of our own supply to reduce our dependence on theirs'. currently they are in the position of a man doing a high-wire balancing act.... except they arent even trying to walk to the opposite side. The saudi's have two choices: build a market economy (which will be extremely difficult and painful for them), or eventually fall off the wire.
 
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