Bush lifts ban on drilling!!

[GrizzlyGator]

Thanks to our left wing dominated congress it got immediately rejected whooo!!! When they got the majority in white house they promised change ....we'll be feeling that change for years to come  .......

  Nearly half the people surveyed by the Pew Research Center last month said they now consider energy exploration and drilling more important than conservation, compared with a little over a third who felt that way only five months ago. .


"Democratic leaders can show that they have finally heard the frustrations of the American people by matching the action I've taken today, repealing the congressional ban, and passing legislation to facilitate responsible offshore exploration," Bush said.

"The Bush plan is a hoax," responded House Speaker Nancy Pelosi.    "It will neither reduce gas prices nor increase energy independence."


way to listen to your constituents guys & gals &^%$%#%


WHAT A BUNCH OF LEFT WING IDIOTS! 


LETS ROCK!!!!!

[trx#9]

I think all we need to do is wait until dumb shits Bush and Cheney get out of office and the price will magically fall.
Another thing is if we start drilling for more oil here and Saudi Arabia decreased oil production the price will not change. And just because we open up the drilling off our shores doesn't mean the oil companies will use it anytime soon either.

[Anoriginal]

I think all we need to do is wait until dumb shits Bush and Cheney get out of office and the price will magically fall.
Another thing is if we start drilling for more oil here and Saudi Arabia decreased oil production the price will not change. And just because we open up the drilling off our shores doesn't mean the oil companies will use it anytime soon either.

You're right. (Holy crap! We agreed on something political! Surely the end is nigh!)
Even with increased oil production here in the US (which we definitely need), the price impact will not be realized for a long time. The market will need to adjust once the supply comes. The adjustment comes as a result of the US oil being put through the same pricing criteria as foreign oil. Remember, it's all OPEC controlled.

Will it help us in the long run? Definitely. But we won't see prices fall any time soon.  Regardless, I say lets drill!

[trx#9]

I think all we need to do is wait until dumb shits Bush and Cheney get out of office and the price will magically fall.
Another thing is if we start drilling for more oil here and Saudi Arabia decreased oil production the price will not change. And just because we open up the drilling off our shores doesn't mean the oil companies will use it anytime soon either.

You're right. (Holy crap! We agreed on something political! Surely the end is nigh!)
Even with increased oil production here in the US (which we definitely need), the price impact will not be realized for a long time. The market will need to adjust once the supply comes. The adjustment comes as a result of the US oil being put through the same pricing criteria as foreign oil. Remember, it's all OPEC controlled.

Will it help us in the long run? Definitely. But we won't see prices fall any time soon.  Regardless, I say lets drill!

How soon do you think the oil companies will drill and why would they, they would make less money than there current situtation?

[yunt2ride]

After Bush gets out of the office. The democrats will all say, "hey let's starting drilling for more oil offshore" Then everyone will give the democrats the credit for it. They just don't won't Bush to get any credit for coming up with an idea.

[GrizzlyGator]

Personally I think its all a load of sh*#t..........I don't trust either side (drillers / no drillers) of this situation...one way or another Congress will find a way to stink it all up weather its bush, Obama or McCain. Some way they will find a way to our wallets and take even more out of it..instead of crying '"they can pry your gun from your cold dead fingers" we'll be saying "our WALLETS"
1. why drill now....maybe trx#9 is right but if we don't do it now the timeline of drilling will always be 5 - 7 years before you can get any oil sooo let's go ahead and drill now!!! Sh*#t they may find some resurrected fish of the coast of Florida and we'll never get to drill there so lets do it now???
2. simple supply and demand (college economics 101)
3. Bush removed the ban and already oil down $9.00 a barrel and the stock market up over $100.00    
4. Even if we do drill in ANWAR & off the coasts and oil doesn't go down...I would rather keep the money here than send it abroad and keep funding those d&mn muslim nations that could give a rats azz about us     

[Anoriginal]

I think all we need to do is wait until dumb shits Bush and Cheney get out of office and the price will magically fall.
Another thing is if we start drilling for more oil here and Saudi Arabia decreased oil production the price will not change. And just because we open up the drilling off our shores doesn't mean the oil companies will use it anytime soon either.

You're right. (Holy crap! We agreed on something political! Surely the end is nigh!)
Even with increased oil production here in the US (which we definitely need), the price impact will not be realized for a long time. The market will need to adjust once the supply comes. The adjustment comes as a result of the US oil being put through the same pricing criteria as foreign oil. Remember, it's all OPEC controlled.

Will it help us in the long run? Definitely. But we won't see prices fall any time soon.  Regardless, I say lets drill!

How soon do you think the oil companies will drill and why would they, they would make less money than there current situtation?

I think they'd get started pretty fast. They wouldn't want to miss an opportunity to claim a deposit. You can bet that they certainly don't want the Chinese to gobble up all of the deposits by slant drilling off Cuba (which they're already doing). While it might be more profitable in the short run to forego drilling, the long run loss (missing the chance) would likely hurt them. That's just my .02.

[GrizzlyGator]

Holy Moly I can't believe I'm posting this!!!!!
Some good little tid bits in this
 


Jimmy Carter Was Right
By David Knowles
Jul 16th 2008 9:01AM
Filed Under:ePresident Bush, Democrats, Featured Stories, Energy


I realize that bashing Jimmy Carter is something of a favorite sport for many people in our country. But when it comes to energy conservation and the dismal situation we now find ourselves in regarding foreign oil dependence, and a withering auto industry, Carter's diagnosis and solutions would have largely spared us the pain we're all now feeling.

Last night, NPR's "Marketplace" ran a few excerpts of Carter's famous "Crisis of Confidence" speech (watch the entire speech here) , and it was striking to realize that if we'd simply followed the former president's 1979 energy blueprint, we'd not be in our current mess. Among the goals Carter laid out that night were:

--Never use more foreign oil than that which we ourselves produce.

--Start massive government investment to develop alternative sources of fuel.

--Mandate that utility companies cut their use of oil by 50%, and switch to alternative fuels.

--Give $10 billion to strengthen the nation's public transportation system.

--Drastically raise CAFE standards for US automakers.

The speech called on Americans to buy energy bonds, so as to take direct ownership in America's energy policy. It advocated personal sacrifice coupled with government action, all of which was ditched by Carter's successor, Ronald Reagan, in favor of the unfettered, free-market approach. That attitude has continued to persist, and was evident in President Bush's address yesterday in which he refused to prod the country into even attempting to conserve.

To Bush-once an oil man, always an oil man-the only solution is more drilling. Unfortunately, even if we hit a gusher on the first try, more domestically produced oil won't have an effect on current gas prices for may years to come. So here we are, grasping for short-term solutions to problems that always required long-range thinking.

It's too bad the country didn't follow through with Carter's plan. But his words still ring true, as this line from the speech:


"Every act of energy conservation like this is more than just common sense-I tell you it is an act of patriotism."

[trx#9]

He was to smart for the time, everyone thought he was crazy. Kinda like Ron Paul today!

[trx#9]

Here's Carter's speech from 1979 its 30 minutes long, but worth the time to watch. The best part is the final 15 minutes.

http://millercenter.org/scripps/archive/speeches/detail/3402

[Bleedsblue]

The problem is oil speculators trading in futures not OPEC. The speculators do nothing but trade those futures back and forth with other speculators based on the market. That is the problem. That's why if the offshore drilling bad is lifted it "could" help prices come down now because it's more supply. All it takes is one analyst stating that we "could" see $150 a barrel of oil due to holiday traffic and the price jumps $5 even though production and reserves are unchanged. Usually at any given time 20% of the price of oil is nothing but speculation the rest being the actual cost of oil. There have been articles lately saying that that speculation is actually closer to 40-50% right now with all the BS going on.

Bill

[cheropride]

The problem is oil speculators trading in futures not OPEC. The speculators do nothing but trade those futures back and forth with other speculators based on the market. That is the problem. That's why if the offshore drilling bad is lifted it "could" help prices come down now because it's more supply. All it takes is one analyst stating that we "could" see $150 a barrel of oil due to holiday traffic and the price jumps $5 even though production and reserves are unchanged. Usually at any given time 20% of the price of oil is nothing but speculation the rest being the actual cost of oil. There have been articles lately saying that that speculation is actually closer to 40-50% right now with all the BS going on.

Bill

You pinned it right on the head Bill...  Did you notice last night after Bush stated he lifted the Ban, oil dropped more than is has in 17 years.  It was down to $132 per barrel.  Watch now w/congress' action, it will go right back up...  Just as Bill said the prices are controlled by these so-called oil speculations...  79% of our oil comes for somewhere else, this has to stop.  As Bush said, he wanted to do this when he first went into office.  This Administration saw it coming, but no-one wanted to take steps to protect us.  Had we started 7 years ago, we would not be in this position now.  Think of how much $ goes to these other countries....  We keep that up, we will be a 3rd World Country.  Where do you think oil prices will be in the next 7 years.  And if you really think within 7 years we are not going to be dependent on oil, well than you have another coming. 

We need drill and supply our own oil.
Continue to decrease demand by finding and utlizing alternative sources, especially for energy such power, ect.

That's the bottom line, or I believe that within the next few years if not less, oil will be $200 per barrel....

[cheropride]

Thought this was interesting:

Price Per Gallon:
Country             Price
Eritrea               $9.58  (never heard of)
Norway              $8.73
United Kingdom   $8.38
(There are plenty listed from $4 and up to $8
Here are some lower

Suadi Arabia      $.45
Iran                 $.40
And the winner is......
Venuzala          $.12

I also found this interesting fact....
Puerto Rico     $1.74
I wondered how PR could be so low, they basically part of the US......  Do you know they produce most of their oil, honestly had no idea....  Commonwealth Oil Refining of Puerto Rico....  Oh get this, Cuba actually pays even less than us.....  Makes you wonder..... 

But heck, $9.00 per gallon.  So much for going riding, ya think....

One of the articles went on to say the reason why prices so high in some countries, is due to the amount of Taxes that they place on fuel.  That they must asset these taxes to pay for the fuel from other countries.  Our tax on per gallon is about $2.35 per gallon (includes federal and local taxes)...  It is reported that the majority of the federal taxes goes to paying for oil to other countries... 

I have been trying to find out how much the US spends on Oil per day/month/year to other countries, but haven't been able to find that yet...

[trx#9]

The problem is oil speculators trading in futures not OPEC. The speculators do nothing but trade those futures back and forth with other speculators based on the market. That is the problem. That's why if the offshore drilling bad is lifted it "could" help prices come down now because it's more supply. All it takes is one analyst stating that we "could" see $150 a barrel of oil due to holiday traffic and the price jumps $5 even though production and reserves are unchanged. Usually at any given time 20% of the price of oil is nothing but speculation the rest being the actual cost of oil. There have been articles lately saying that that speculation is actually closer to 40-50% right now with all the BS going on.

Bill

You pinned it right on the head Bill...  Did you notice last night after Bush stated he lifted the Ban, oil dropped more than is has in 17 years.  It was down to $132 per barrel.  Watch now w/congress' action, it will go right back up...  Just as Bill said the prices are controlled by these so-called oil speculations...  79% of our oil comes for somewhere else, this has to stop.  As Bush said, he wanted to do this when he first went into office.  This Administration saw it coming, but no-one wanted to take steps to protect us.  Had we started 7 years ago, we would not be in this position now.  Think of how much $ goes to these other countries....  We keep that up, we will be a 3rd World Country.  Where do you think oil prices will be in the next 7 years.  And if you really think within 7 years we are not going to be dependent on oil, well than you have another coming. 

We need drill and supply our own oil.
Continue to decrease demand by finding and utlizing alternative sources, especially for energy such power, ect.

That's the bottom line, or I believe that within the next few years if not less, oil will be $200 per barrel....

Wrong, It's been on the news for a couple of days now that we have an over abundance of oil here in the states. Thats the reason for the temporary drop in price.
For the most part, most of these speculates are from oil companies and OPEC. I can't believe you guy's think OPEC has nothing do with all this. There the one's that keep production down to keep the price up. If they increased the production oil will fall.

[KAW3604x4]

Wrong, It's been on the news for a couple of days now that we have an over abundance of oil here in the states. Thats the reason for the temporary drop in price.
For the most part, most of these speculates are from oil companies and OPEC. I can't believe you guy's think OPEC has nothing do with all this. There the one's that keep production down to keep the price up. If they increased the production oil will fall.

Not sure what channel you're watching, but it is the speculators of World Bank and IMF! Not OPEC.

[trx#9]

Thought this was interesting:

Price Per Gallon:
Country             Price
Eritrea               $9.58  (never heard of)
Norway              $8.73
United Kingdom   $8.38
(There are plenty listed from $4 and up to $8
Here are some lower

Suadi Arabia      $.45
Iran                 $.40
And the winner is......
Venuzala          $.12

I also found this interesting fact....
Puerto Rico     $1.74
I wondered how PR could be so low, they basically part of the US......  Do you know they produce most of their oil, honestly had no idea....  Commonwealth Oil Refining of Puerto Rico....  Oh get this, Cuba actually pays even less than us.....  Makes you wonder..... 

But heck, $9.00 per gallon.  So much for going riding, ya think....

One of the articles went on to say the reason why prices so high in some countries, is due to the amount of Taxes that they place on fuel.  That they must asset these taxes to pay for the fuel from other countries.  Our tax on per gallon is about $2.35 per gallon (includes federal and local taxes)...  It is reported that the majority of the federal taxes goes to paying for oil to other countries... 

I have been trying to find out how much the US spends on Oil per day/month/year to other countries, but haven't been able to find that yet...

I'm pretty sure we pay about 65cents a gallon for federal tax on a set price. Meaning no matter how high gas goes up its still 65 cents. I don't think there's 1.70 per gallon local and state tax, If so we need some better roads then.

[trx#9]

Wrong, It's been on the news for a couple of days now that we have an over abundance of oil here in the states. Thats the reason for the temporary drop in price.
For the most part, most of these speculates are from oil companies and OPEC. I can't believe you guy's think OPEC has nothing do with all this. There the one's that keep production down to keep the price up. If they increased the production oil will fall.

Not sure what channel you're watching, but it is the speculators of World Bank and IMF! Not OPEC.

There all in each other pockets anyways.

[backinsaddle]

trx#9, i don't think OPEC has as much to do with it as you think.  If you look at the graph on page 18, you'll see that historically as surplus (oil reserves) go up, price goes down (this is from 2006, don't have current data). 

www.senate.gov/~levin/newsroom/supporting/2006/PSI.gasandoilspec.062606.pdf

This isn't what's been happening the last couple years, inventories AND prices are at record highs.  OPEC producing more will only mean more reserves, in my opinion, and not a reduction of price.  Speculators may or may not change buying practices based on news of increased production.

additionally, while Europe is substantially higher, they also produce a much better quality fuel, which is one of the reasons Europeans get better mileage than we do.

[cheropride]

As for the tax part you may be right, that is what I heard from someone who works in the Port....  I also know the county taxes each gallon as well, in addition to the State.  But you are probably right not as high as I heard....  

And yes, you are right to an extent....  There is an overabundance of oil here (oil that we purchased), due to the face we are down in comsumption here in the US.  But see the problem is really no longer the US, it is supply and demand elsewhere like China and Japan. This is what is keeping the price so high for the Countries that have to purchase oil....  Supply and demand, regardless of whose demand, because we are all getting it from the same supply OPEC.....  

If consumption is up world-wide, than unfortanately we are going to have to pay that cost.....  This gets the markets all in an uproar, and there goes the prices...  When you look at countries that don't have to purchase their oil from other countries, their prices stay down, (because they don't purchase - they supply their own) ie, Saudi Arabia, are good ole buddy Hugo Chavez....  I am sorry I still can't get over that Puerto Rico only pays $1.74....  Wonder if they got on good riding over there....

[trx#9]

trx#9, i don't think OPEC has as much to do with it as you think.  If you look at the graph on page 18, you'll see that historically as surplus (oil reserves) go up, price goes down (this is from 2006, don't have current data). 

www.senate.gov/~levin/newsroom/supporting/2006/PSI.gasandoilspec.062606.pdf

This isn't what's been happening the last couple years, inventories AND prices are at record highs.  OPEC producing more will only mean more reserves, in my opinion, and not a reduction of price.  Speculators may or may not change buying practices based on news of increased production.

additionally, while Europe is substantially higher, they also produce a much better quality fuel, which is one of the reasons Europeans get better mileage than we do.

I don't know, if Opec cut production by 10 percent i'm sure oil will go to 200 dollars a barrel.

[trx#9]

As for the tax part you may be right, that is what I heard from someone who works in the Port....  I also know the county taxes each gallon as well, in addition to the State.  But you are probably right not as high as I heard....  

And yes, you are right to an extent....  There is an overabundance of oil here (oil that we purchased), due to the face we are down in comsumption here in the US.  But see the problem is really no longer the US, it is supply and demand elsewhere like China and Japan. This is what is keeping the price so high for the Countries that have to purchase oil....  Supply and demand, regardless of whose demand, because we are all getting it from the same supply OPEC.....  

If consumption is up world-wide, than unfortanately we are going to have to pay that cost.....  This gets the markets all in an uproar, and there goes the prices...  When you look at countries that don't have to purchase their oil from other countries, their prices stay down, (because they don't purchase - they supply their own) ie, Saudi Arabia, are good ole buddy Hugo Chavez....  I am sorry I still can't get over that Puerto Rico only pays $1.74....  Wonder if they got on good riding over there....

I just looked it up, federal tax is about 18 cents and state and local taxes in florida about 30 cents.
Lets go get some Puerto Rican oil. and some rum!

[cheropride]

As for the tax part you may be right, that is what I heard from someone who works in the Port....  I also know the county taxes each gallon as well, in addition to the State.  But you are probably right not as high as I heard....  

And yes, you are right to an extent....  There is an overabundance of oil here (oil that we purchased), due to the face we are down in comsumption here in the US.  But see the problem is really no longer the US, it is supply and demand elsewhere like China and Japan. This is what is keeping the price so high for the Countries that have to purchase oil....  Supply and demand, regardless of whose demand, because we are all getting it from the same supply OPEC.....  

If consumption is up world-wide, than unfortanately we are going to have to pay that cost.....  This gets the markets all in an uproar, and there goes the prices...  When you look at countries that don't have to purchase their oil from other countries, their prices stay down, (because they don't purchase - they supply their own) ie, Saudi Arabia, are good ole buddy Hugo Chavez....  I am sorry I still can't get over that Puerto Rico only pays $1.74....  Wonder if they got on good riding over there....

I just looked it up, federal tax is about 18 cents and state and local taxes in florida about 30 cents.
Lets go get some Puerto Rican oil. and some rum!

Wonder if they got any good muddin trails....

[Bleedsblue]

trx#9, i don't think OPEC has as much to do with it as you think.  If you look at the graph on page 18, you'll see that historically as surplus (oil reserves) go up, price goes down (this is from 2006, don't have current data). 

www.senate.gov/~levin/newsroom/supporting/2006/PSI.gasandoilspec.062606.pdf

This isn't what's been happening the last couple years, inventories AND prices are at record highs.  OPEC producing more will only mean more reserves, in my opinion, and not a reduction of price.  Speculators may or may not change buying practices based on news of increased production.

additionally, while Europe is substantially higher, they also produce a much better quality fuel, which is one of the reasons Europeans get better mileage than we do.

I don't know, if Opec cut production by 10 percent i'm sure oil will go to 200 dollars a barrel.

Of course it would but not because OPEC raised the prices but because the investors of the world will jump on the futures because of the reduction of supply. OPEC leaders have been discussing how to reduce prices because of the skyrocketing prices. They see how it is leading to less usage on our part which is what they count on. If prices continue to go up people will drive less and less reducing demand and thus hurting their profits. So it's in their best interests to keep the prices at a reasonable level so the demand for their product is still high. The only people that benefit from high oil prices are the speculators trading in futures.

Bill

[CABLEGUY1]

He was to smart for the time, everyone thought he was crazy. Kinda like Ron Paul today!

Or Ron Jeremy! Now that guy is smart. Anybody that is that fugly and out of shape and still manages to get that much play is a genius.

[trx#9]

He was to smart for the time, everyone thought he was crazy. Kinda like Ron Paul today!

Or Ron Jeremy! Now that guy is smart. Anybody that is that fugly and out of shape and still manages to get that much play is a genius.

Dude I don't know what your saying, he's hot!