says the parrot of the dem talking points
We burn economics and MBA diplomas. That should last a while.
We burn economics and MBA diplomas. That should last a while.
All our offshore oil reserves are estimated at a 10-12 year supply at current consumption rates. What do we do after that ?
I don't know about Gold, I do know about these capped wells. As I explained, it is a 'supply and demand' thing. You know what that is, right? You see, when the supply is short, and demand remains high, the price goes up. Higher price means more profit for the oil company, so they keep the capped oil wells capped, so that supply will remain low and demand will make the price rise and profits increase. Not only do they realize increased profits, they also pressure Congress into easing restrictions on areas they previously couldn't drill in, which will mean even more profit in the future. It's really not that complicated.
I think I understand more about Economics than you do.
Yeah, you THINK you do but you don't.
Economic gold, economic oil. Learn the terms, then come back and talk to me.
You've not said a damn thing, other than to hurl a few pejoratives my way and act like you have greater intellect than me.
I don't need to learn any terms
We don't really know how much oil we have. They have done estimates on what we know of, but even these, are sketchy at best. If you count the shale oil under Oklahoma, we have more more than 60% of all the oil on the planet. (that's an estimate)
It seems liberals have selective hearing on this, all they ever seem to hear is, drill, drill, drill. I have often stated my position, and it starts with drilling because this is the naturally best way to increase supply, which always reduces price. (it's economics) It also includes building more refineries, and this has to be done at the corporate level, not by government. But the part the liberals never hear because they stop listening when you say the word "drill", is aggressive pursuit of alternative fuels and alt-fuel vehicles. We have to perfect something and refine it, and get it on the market in a real way.
Now.... Pie in the Sky Liberals ask, why can't we just skip to the 3rd thing, Dixie? Forget about drilling or refining, just create a new alternative fuel and vehicles to run on it, and that will be the answer to all the problems. The thing is, it won't answer all the problems, and it won't work in the short-term. Any new technology we come up with to replace the automobile in its present form, will take decades to effect the market enough to effect oil consumption. It will take a while to 'phase out' 200 million cars currently on the road, and replace them with new alt-fuel vehicles. If we have taken care of the 'supply-demand' problem, we have this much time. It enables us to focus on research and development, rather than what to do about the strangling oil crisis we will face.
release some of the oil reserves IF supply and demand is all that is causing this mess, that should give temporary relief immediately to us on price....?
{Psst- your sentence should be corrected to read "other then" and "greater intellect than I."}
Noo... can't release the reserve, we won't have a reserve then! The purpose of the reserve, is major, dire straights, end-of-the-world scenario type events, not simple supply shortfall problems. If the middle east blows up in a nuclear holocaust, and we have to have emergency oil to keep things running until we can make other arrangements, that is what the strategic reserve is for. We should probably be putting MORE in the reserve, given the current climate in the region, truth be told.
There are several factors causing the mess. The most pertinent factor is restricted supply, since OPEC has cut production by a huge amount in the past 2 years. This has caused the world market price to soar, which causes high price at the pump. The way to fix that, is increase supply of domestic oil. If it is abundant, the price goes down, it always works with any commodity. Other factors involved in the mess are the oil companies who keep the caps on wells they already have access to, and are just not pumping the oil. One of the reasons for this, is lack of refineries to process the oil into gas. All of these things combine to create the high price at the pumps, including the 40-something cents per gallon we pay in taxes, state, local, and federal.
HUH? we have released them before and it lowered oil per barrel to $10 bucks for a short time...
It will most certainly lower the price of oil temporarily and when the price of oil drops we start buying the reserves again, refilling the caufers at a lower cost...saving tax payers money all around...?