Drill here. Drill Now. Pay less.

petrym

My thoughts? We (the USA) are trying to ride this bubble out so the Middle East will eventually drain their easily accessible abundant oil resources -- but more are being discovered contrary to the current policy/plan.

After the Middle East tipping point (when internal sources are cheaper than external sources) then can we can kick in and start exporting ourselves to the world. Dubai knows this and has started all those travel/vacation destination projects because they know this bubble is unsustainable.

Iran is developing its nuclear program to 1. Threaten Israel (secondarily) 2. Start an ambitious program to provide abundant electricity for its own citizens (primary) 3. Back down its nuclear ambitions (through [last minute – as yet unknown] diplomacy) just enough to prevent Israeli bombing.

Ultimately: There's a secret US Congressional program that is somehow balancing all these variables into some sort of non-coalescing scenario that is lagging current market pricing. :mad:

Elect me Dictator(President) and I’ll get this country back in the swing of things.

tonyb

petrym wrote: »

My thoughts? We (the USA) are trying to ride this bubble out so the Middle East will eventually drain their easily accessible abundant oil resources -- but more are being discovered contrary to the current policy/plan.

After the Middle East tipping point (when internal sources are cheaper than external sources) then can we can kick in and start exporting ourselves to the world. Dubai knows this and has started all those travel/vacation destination projects because they know this bubble is unsustainable.

Iran is developing its nuclear program to 1. Threaten Israel (secondarily) 2. Start an ambitious program to provide abundant electricity for its own citizens (primary) 3. Back down its nuclear ambitions (through [last minute – as yet unknown] diplomacy) just enough to prevent Israeli bombing.

Ultimately: There's a secret US Congressional program that is somehow balancing all these variables into some sort of non-coalescing scenario that is lagging current market pricing. :mad:

Elect me Dictator(President) and I’ll get this country back in the swing of things.

Man,someone's been out in the wild too long.:)
My thoughts are to go get what is ours now,Even though it will take years to get it to market,by just announcing this would drop the price of oil 20- 30 bucks a barrel.Build more refineries,put less regulation on the production,get rid of ethanol,which really lowers the amount of milage you get per gallon.Build more nuclear plants and also continue the quest for alternative energy.You can give me all the garbage about the carabou,polar bears,global warming,yada,yada,but the fact of the matter is nobody has come up with a viable alternate source of energy....yet.So while that avenue still needs to progress and be explored,we need something now,today.By aggresively pursueing both ends is the only way to insure a stable economy.

dragon1952

amulford wrote: »

The man is dead on.


If we just tapped the methane we produce in all of our landfills it would have an impact.

I've got some methane you can tap.

Norm Apter

IMO, futures are only a minor issue. The much broader issue is a rise in world demand (read: China) for oil. Recently, I heard how many NEW cars they're putting on the street every day and its in the several thousands (can't recall exact figure). And with the global economy as it is, (and the fact that China has pretty much bankrolled the Iraq war and our debt in general) I dont' see how we could become economically isolationist (unless we nationalized the oil industry which is not going to happen). Maybe 20 years ago, but not in the current world economy. I hate to sound pessimistic but I think that high oil prices are here to stay, and the only real "sustainable" reductions in energy costs are going to come at the heels of the development of alternative (renewable)energies. We've pretty much squandered the past 10 years so its time to play catch-up. Well, things have been tried...(as I mentioned in another thread, the documentary "Who Killed the Electric Car?" explores how a certain pilot program was nipped in the bud)...but neither the government nor private initiative has really gotten behind anything aside from the disasterous ethanol program. In sum, speculators have played a role but global demand is the much bigger picture which we need to be focusing on. Its just a completely different marketplace than it was in the 1990s.

amulford

the only real "sustainable" reductions in energy costs are going to come at the heels of the development of alternative (renewable)energies.

I think the only way is to get the speculators out of the chain. The upward drive in prices is the fight to buy foreign sources. If we started keeping all of our domestic production, the competition wouldn't be there.

but neither the government nor private initiative has really gotten behind anything aside from the disastrous ethanol program.

That's because of the ungodly amounts of money being made... Who wants to give that up???

In sum, speculators have played a role but global demand is the much bigger picture which we need to be focusing on.

Sorry, that doesn't hold water. The recent spike and steadily upward spiral is speculation caused. We aren't talking a slow and steady rise. China didn't have their demand quadruple in six months.

Its just a completely different marketplace than it was in the 1990's.

That's right. Capitalistic corporate greed (read financial industry) has found another way to fleece the American public.

sucks2beme

MacLeod wrote: »

We've got more oil than we could shake a stick at. 30 years in ANWR, just recently found 60 years worth in the Gulf and thats not counting the couple hundred years worth in oil shale. 80% of our oil reserves are off limits. We've got plenty. Theyve been saying for decades how we're running out of oil and itll be gone any day now but yet we keep finding 50 years worth of deposits left and right. Not using our oil reserves because "we may need it later" just isnt logical to quote Mr Spock. When oil was $20 a barrel, it was ok to leave it sitting in the ground, but when its $140 and climbing and gas is getting close to $5 a gallon and is threatening to shut down our economy, I cant think of a better time to use it especially considering that we've got more oil than we could use in several lifetimes!

Now I dont think anybody would argue that we dont need to look for alternative energy sources but I maintain that rather than screw ourselves by not using oil and trying to force another energy source is a bad idea. Look at ethanol. We ram rodded that down everybodys throat and now food prices have skyrocketted because we're using our food supply for gas!! Thats just insane! Leave alternative energy sources to science and the free market and I guarantee you something will come along eventually. But until that time comes, it is foolish to not make use of the super abundant and efficient energy source we have sitting right here at our fingertips in oil and nuclear power.

That's my point. A real energy plan. Corn based ethanol was a stupid political solution.
All the science says great concept, wrong crop! Dropping the gas
tax is just as stupid. If a real plan was created, there would be a lot of
pros and cons talked about. Just throwing out a sweeping statement does
nothing. We can't seem to even fix social security. Everyone knows why
it's in trouble. Nobody's willing to take the heat to solve it.

Stew

LMAO:

madmax wrote: »

If it turns out we can make oil out of ground up polar bears, carribu and liberals thats fine with me.

Just signed the petition.

Mazeroth

I like turtles!

Face

How about jailing all the investors and speculators?

Gas went up today because Iran photoshopped a missile launch.

http://thelede.blogs.nytimes.com/2008/07/10/in-an-iranian-image-a-missile-too-many/index.html?hp

F1nut

Jailing is too kind, cut off their balls.

treitz3

Even that's too kind.

obieone

post deleted

unc2701

obieone wrote: »

.....Until they start issuing hunting permits for tree huggers:)

obieone wrote: »

Nuke the liberals. Problem solved.

obieone wrote: »

Let's 'carpet bomb' Berkeley, Cambridge, Vermont etc.

Dude, you need to reel these comments in or this thread will be shut down. Please read F1's original post.