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Drill baby drill
Topic Started: Mar 21 2012, 12:10 PM (409 Views)
Shakearag
The Voice of Al Sharpton
[ * ]
Don't let facts get in the way of your amazing thought process........http://apnews.excite.com/article/20120321/D9TKR60G0.html
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gallavol
Cynical Idealist

The Republican candidates are running on the very opposite of this article. That they CAN reduce gas prices with more drilling. If one of them is elected and does drill baby drill, I hope we will all meet again and discuss the true results of that policy.
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Hermitagevol


I guess it would depend on whether you read a liberal website or a conservative. Obama does have blame in the rise in oil prices.
Lowering oil prices
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gallavol
Cynical Idealist

Read again, Obama HAS increased oil production. It is at the highest level ever right now. He just refuses to fall for the old "oil is the only source of energy America should develop" bit. He wants to develop other sources of energy, and the benefit for Americans is we don't have to live in a tar hole when we already have Kuwait.
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Hermitagevol


Your alternative forms of energy are not economically feasible at the present time. Fossil fuels are excellent providers of energy are are in great abundance in our country. Environmentalists are slow to realize that. If better and cheaper forms of energy were available, they would be in use now. Our gasoline prices are high during Obama's watch, and he deserves the blame. Did you blame Bush for the banking collapse? Sure you did, but the governmental policies that lead to the housing crisis were not passed by his administration.
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*Zippy
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Burning Man, 2009 FOREVER

gallavol
Mar 21 2012, 07:18 PM
Read again, Obama HAS increased oil production. It is at the highest level ever right now.
Uh, no. We produced more domestic oil in 1980 than we do today, by over half. I've told you this before, there is a difference between crude oil production and refined gasoline. Yes, it's probably true we refine more gas today than we ever have. But we do not produce more oil today than ever before, that's just flat wrong.

http://www.indexmundi.com/energy.aspx?country=us&product=oil&graph=production
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*TennesseeTuxedo
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Oil production in the US, has been dropping for the past 40 years.
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Hermitagevol


How can this be??? Is the Obama administration lying??? Surely not!!!

"The trillion-plus barrels of oil in this country, more oil than in Saudi Arabia, is not counted by the president, and I think that's misleading the American people," John Hofmeister, the former president of Shell Oil, said.

Oil Reserves
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gallavol
Cynical Idealist

The US has 2% of worldwide oil reserves. That is what every legitimate geologist has been saying for over 50 years. You can dream up other oil reserves but they exist only in your mind.

Btw, Fox News is not a source for facts. Linking them diminishes you argument, it does not strengthen it.
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*Zippy
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gallavol
Mar 22 2012, 06:23 PM
The US has 2% of worldwide oil reserves. That is what every legitimate geologist has been saying for over 50 years. You can dream up other oil reserves but they exist only in your mind.

Btw, Fox News is not a source for facts. Linking them diminishes you argument, it does not strengthen it.
That 2% statistic is incredibly misleading Galla. It only includes known reserves that are both legal AND economical to recover. The 2% claim is basically less than 2% of what we actually have.

They certainly exist. The shale oil reserves in Utah and Colorado, for example, are very, very real. And they are equally very, very vast. They are also incredibly expensive to recover, not to mention being a potential environmental disaster. But that does not mean it is fiction that they exist.
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Hermitagevol


From OilPrice.com

The U.S. has 22.3 billion barrels of proved reserves, a little less than 2% of the entire world’s proved reserves, according to the Energy Information Administration. But as the EIA explains, proved reserves “are a small subset of recoverable resources,” because they only count oil that companies are currently drilling for in existing fields.How much recoverable oil does the U.S. have in addition to the 22.3 billion Obama had in mind? Start with the Green River Formation in Wyoming: 1.4 trillion barrels—sixty-two times as much as Obama counts.

After Green River, it’s almost embarrassing to count other sources: 86 billion on the outer continental shelf; 24 billion in the lower 48; 2 billion on Alaska’s north slope; 19 billion in Utah tar sands; 12 billion in ANWR. Then add in oil shale: 800 billion just in Wyoming and neighboring states. As IBD sums it up: “When you include oil shale, the U.S. has 1.4 trillion barrels of technically recoverable oil, according to the Institute for Energy Research, enough to meet all U.S. oil needs for about the next 200 years, without any imports.”

These estimates are almost sure to rise over time—to anywhere from three or four to twenty or twenty-five times as much. Those are the ranges of error on past official estimates of recoverable oil. Here is what Robert Bradley Jr. calculated back in 2000 for the carbon-based energies:

Proved oil reserves today are estimated to be fifteen times greater than the original 1948 estimate despite interim production of eleven times this amount. World natural gas reserves in the last thirty years have increased almost five-fold despite interim production that has been 80 percent above the 1967 estimate. World coal reserves today are estimated to be over four times the amount calculated nearly a half-century ago.


Edited by Hermitagevol, Mar 22 2012, 08:00 PM.
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Hermitagevol


Read these facts Galla!!!
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*TennesseeTuxedo
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Quote:
 
The evidence is mounting that not only do we have more than a century's worth of recoverable oil in the United States alone (even if there is a limit to the earth's oil supply), but that we also actually have a limitless supply of Texas tea because oil is in fact a renewable resource that is being constantly created deep under the earth's surface and which rises upward, where microscopic organisms that thrive in the intense pressure and heat miles below us interact with and alter it.
In other words, we have an unending supply of oil, some of which is constantly migrating upward from the depths at which it is created to refill existing oil deposits, and much more of which remains far below the surface. This oil can be recovered using existing technology.
What If Oil and Natural Gas Are Renewable Resources?
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*TennesseeTuxedo
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Scarce Oil? U.S. Has 60 Times More Than Obama Claims

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*TennesseeTuxedo
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Obama’s oil flimflam
Quote:
 
Obama says of drilling: “That’s not a plan.” Of course it’s a plan. We import nearly half of our oil, thereby exporting enormous amounts of U.S. wealth. Almost 60 percent of our trade deficit — $332 billion out of $560 billion — is shipped overseas to buy crude.

Drill here and you stanch the hemorrhage. You keep those dollars within the U.S. economy, repatriating not just wealth but jobs and denying them to foreign unfriendlies. Drilling is the single most important thing we can do to spur growth at home while strengthening our hand abroad.

Instead, Obama offers what he fancies to be the fuels of the future. You would think that he’d be a tad more modest today about his powers of divination after the Solyndra bankruptcy, the collapse of government-subsidized Ener1 (past makers of the batteries of the future) and GM’s suspension of production — for lack of demand — of another federally dictated confection, the flammable Chevy Volt.

Deterred? Hard
Man!....that's gonna leave a mark.
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