Thread: Oil Prices drop at mere suggestion we will drill offshore

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  1. #51  
    Senior Member LogansPapa's Avatar
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    Quote Originally Posted by Constitutionally Speaking View Post
    If we DO what is needed, though, there is no reason we should not be paying in the $2.00 per gallon range for gasoline and in the $60 - $80 range for oil.
    Sorry CS, but unless McCain becomes president and directs our armed forces to annex Iran - that hope will remain a dream.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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  2. #52  
    Super Moderator Constitutionally Speaking's Avatar
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    President Bush is one of the persons LEAST responsible for the increase in oil prices. Blaming him because "he wanted to show the world he was better than his father" is unsupportable.

    The problem again, as you have admitted by blaming the Chinese, is supply and demand.

    The Demand is currently outpacing supply. The answer to that problem requires two components to be addressed. First, reduce demand - and at least here in the US that is progressing quite well. Second increase supply - and at least until now we have been failing miserably at that. This is not President Bush's fault. He has been one of the few out there telling the truth on the issue and pushed for more drilling way back at the beginning of his first term. He has been stymied by the Democrats and the environmental lobby. He is not a king. He needed Democratic cooperation and they were more intent on smearing him and in dragging our country through the mud than in actually working for the betterment of our country.
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  3. #53  
    Senior Member LogansPapa's Avatar
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    If you can’t see that by his direct orders that tensions (and therefore reactions in the markets accordingly) in the exact region where the majority of the resource comes from, have increased a hundred-fold during his administration - then I can’t help you. Understand that the White House, for the last 7.5 years, has made it decisions not based not necessarily on what is right, but rather what is right for business.

    The monarchy ends January 20, 2009.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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  4. #54  
    Super Moderator Constitutionally Speaking's Avatar
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    Quote Originally Posted by LogansPapa View Post
    Sorry CS, but unless McCain becomes president and directs our armed forces to annex Iran - that hope will remain a dream.

    I disagree. The price of oil is a function of Supply and demand. Any affect that speculation has on the price is due to there being absolutely zero excess supply. In fact right now, there is a shortage of supply of about 1 million barrels per day. In 2000, there was a "cushion" of 1 million barrels per day. The cost structure of obtaining oil has not changed significantly since 2000 - in fact if anything technology has reduced this cost. The only difference between today and 8 years ago is the supply/demand equation. An increase in production of @2 million barrels per day would place us right where we were at the beginning of the Bush presidency price-wise. Half of that could have been met by ANWR ALONE. Bringing the oil shale on line (1-2 Trillion barrels available), drilling in the Dakotas (200 billion barrels available) and taking advantage of the offshore deposits we have would accomplish MORE than that - and would begin to come online in 2 years and reach full production in 8-10 years.

    We have already seen what the mere hint that we MAY do this can do to the price - actually realizing this production will make the $15.00 drop in price look small in comparison.
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  5. #55  
    Senior Member Molon Labe's Avatar
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    Quote Originally Posted by LogansPapa View Post
    Understand that the White House, for the last 7.5 years, has made it decisions not based not necessarily on what is right, but rather what is right for business.

    The monarchy ends January 20, 2009.
    And we all know that today's businesses are exactly what the founders intended and what a healthy free market capitalist society should look like.
    No one would ever suggest that government intervention into the market place has created another mouth to suckle on the tit of the Federal treasury. IMO some monopolisitic giants are no different than the welfare ghetto trash we rail on about.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


    The problem is Empty People, Not Loaded Guns - Linda Schrock Taylor
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  6. #56  
    Senior Member Molon Labe's Avatar
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    Has anyone seen this statistic about how much fuel it takes to fight the war?
    I knew that M1s were pretty bad...but 2 miles to the gallon?
    And some of my unit's Hummer's suck down the diesel....but this is ridiculous.

    http://www.energybulletin.net/node/13199
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


    The problem is Empty People, Not Loaded Guns - Linda Schrock Taylor
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