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| Why the concept of drilling to bring down oil prices is fallacy | |
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| Tweet Topic Started: Feb 27 2012, 11:56 PM (675 Views) | |
| Banandangees | Feb 28 2012, 01:08 AM Post #11 |
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Fire & Ice Senior Diplomat
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I'm thinking, drilling here gives us oil we don't have if transportation of it from elsewhere becomes curtailed for one reason or another (dependency). If we don't drill and oil from elsewhere is curtailed, what is here will be rationed and increase in price. I remember the "C" sticker my dad had on the rear window of his car back in the 40s. |
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| Deleted User | Feb 28 2012, 01:13 AM Post #12 |
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That is another issue, however if the US produces 10% and consumes 40% of the world output, just how much effect would it have. i think the article makes a good point in saying Americans are too tied to vehicles that are heavy consumptioners (new word). |
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| tomdrobin | Feb 28 2012, 01:19 AM Post #13 |
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Fire & Ice Senior Diplomat
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Even though we use more than we produce, we still export oil and oil byproducts. It's a worldwide market. The idea that the US is just some closed system is incorrect. Perhaps in a national emergency we could nationalize all oil production, but that would be under extreme conditions. |
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| Banandangees | Feb 28 2012, 01:24 AM Post #14 |
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Fire & Ice Senior Diplomat
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"You never know what's around the next bend in the river," my old "native American" friend, Herky Horney use to say. |
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| Deleted User | Feb 28 2012, 02:52 AM Post #15 |
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Well, Mexico did it. |
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| Jim Miller | Feb 28 2012, 04:29 AM Post #16 |
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Fire & Ice Senior Diplomat
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Our consumption is something we will have to deal with without the intrusion of foreigners. |
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| Brewster | Feb 28 2012, 05:03 AM Post #17 |
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Fire & Ice Senior Diplomat
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I think he figured it out quite well... |
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| Deleted User | Feb 28 2012, 05:09 AM Post #18 |
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Then quit filling your car with foreign oil, mainly Canadian |
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| Jim Miller | Feb 28 2012, 05:24 AM Post #19 |
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Fire & Ice Senior Diplomat
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Seems to me we pay quite well for the oil and Canada is quite eager to sell it to us. It isn't like you were donating it. You do see the difference, don't you. Probably not. |
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| Pat | Feb 28 2012, 05:37 AM Post #20 |
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Fire & Ice Senior Diplomat
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Consider these facts Teleco. 1. Iran right now is the big oil story, if that gets settled, then the price will drop 15=20% 2. Oil refineries, not a new one built since the 70's and with Obama and his EPA threatening to close more, it just brings more uncertainty in the market. 3. Adding more capacity like we are doing increases supply. The increased production will be exported and will offset refined products entering the country. As production increases even more, our trade imbalance improves thus strengthening our dollar. Stronger dollar equals lower cost of imported refined products and increased export prices of our crude. If you want to view this from an internal political point of view, then the republicans win that battle. Obama has a well earned reputation of being anti conventional energy. Edited by Pat, Feb 28 2012, 05:38 AM.
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