Comments on: Energy Costs Force Lifestyle Changes
New Indications Show $4 Dollar-A-Gallon Gas Has Americans Altering Their Transit, Work Habits
Add a Comment See all 99 Comments
- The Energy Information Administration estimated that oil from these sites would hit the market around 2017 and peak around 2027.
Rushing the process would likely only result in less supply. "The faster we try to drain the less efficient the drainage," said Dr. Ralph Byrns, Professor of Economics at UNC-Chapel Hill.
"If we drain it dry and still get 14 billion barrels of oil [the President has suggested 18 billion], that itself would still take (20 years)"
Indeed, as Taylor pointed out and as a number of independent studies have emphasized, there are a host of loopholes, costs, delays and uncertainties that make offshore drilling far from a sure oil market boom.
There is a five-year waiting period just to lease land for drilling, and even more time on top of that to get a contract for the oil rigs. The American Petroleum Institute recently acknowledged that there is a dearth of equipment to drill on the land and coasts that are already accessible.
And depending on the size of the station being built, and the possibility that oil may not be found immediately, it could be upwards of ten years before crude is even brought to the surface. - Reply to this comment
- Posted by Omaar-101 at 12:22 PM : Jun 24, 2008
ummmmmm it will affect the futures market nancy,,,
that will cause an immediate drop in oil prices,,,
defeating fascist nazi terrorislam,,, will cause an immediate drop in oil prices,,,
and it depends on where the oil is found,,, if it is close to where we already are,,, only one year to bbring it in,,, the longest time where we are not currently drilling,,, 6 years,,,
do you want eco friendly china drilling for it off our coasts instead,,, - Reply to this comment
America`s..
Total Imports of Petroleum Oil (Top 15 Countries)
(Thousand Barrels per Day)
Drill all You want, You can..t produce the Oil these Countries provide, nor will you see a drop in price at the gas pumps. Over 300 Million Americans, The Demand is Too Great and it will take 7-10 years to bring this Oil on shore, by that time, Gas will be 15 $ per gallon an we..ll be riding Horse & Carriage.
Solution: Mass Train Transit North, South, East Mid West & West, like Japan, Oppose to Air Planes.
Note: Also Include Diesel & Electric Cars. Its That or the Horse & Carriage.
CANADA 1,952 1,795 1,902 1,909 1,846
SAUDI ARABIA 1,453 1,535 1,519 1,458 1,358
MEXICO 1,259 1,232 1,230 1,460 1,471
NIGERIA 1,115 1,154 1,105 891 1,089
VENEZUELA 1,019 858 990 1,182 1,070
IRAQ 679 773 693 562 488
ANGOLA 579 384 469 514 556
ALGERIA 393 247 300 530 495
BRAZIL 201 188 182 175 174
KUWAIT 176 199 218 126 187
ECUADOR 160 231 203 159 200
COLOMBIA 149 135 168 79 100
CHAD 133 101 110 80 76
RUSSIA 106 108 77 269 137
LIBYA 85 75 68 45 56
Country Apr-08 Mar-08 YTD 2008 Apr-07 YTD 2007- Reply to this comment
- But the assertion that offshore drilling could have an impact on oil prices by placating oil speculators is itself a contested proposition.
Note: And some analysts insist that it is wishful thinking that the market would suddenly perk up because of the prospect of more supply.
The Energy Information Administration estimated that oil from these sites would hit the market around 2017 and peak around 2027.
Rushing the process would likely only result in less supply. "The faster we try to drain the less efficient the drainage," said Dr. Ralph Byrns, Professor of Economics at UNC-Chapel Hill.
"If we drain it dry and still get 14 billion barrels of oil [the President has suggested 18 billion], that itself would still take (20 years)"
THE YEAR 2017 OR 2027...HORSE & CARRIAGE ANYONE ?
HORSE, MULES, DONKEYS LLAMAS, ALPACAS OR CAMELS...OR ELEPHANTS ANYONE ?
WE CONSUME TOO MUCH CRUDE OIL, THE DEMAND IS OUTRAGEOUS AND WILL CONTINUE BASED ON THE OVER 300 MILLION DEMAND FOR CRUDE OIL & GAS.
CANADA IS A LARGEST SUPPLIER OF OIL. RUSSIA IS OUR LARGEST SUPPLIER OF GAS...DUH !! - Reply to this comment
- But the assertion that offshore drilling could have an impact on oil prices by placating oil speculators is itself a contested proposition.
Note: And some analysts insist that it is wishful thinking that the market would suddenly perk up because of the prospect of more supply.
The Energy Information Administration estimated that oil from these sites would hit the market around 2017 and peak around 2027.
Rushing the process would likely only result in less supply. "The faster we try to drain the less efficient the drainage," said Dr. Ralph Byrns, Professor of Economics at UNC-Chapel Hill.
"If we drain it dry and still get 14 billion barrels of oil [the President has suggested 18 billion], that itself would still take (20 years)"
THE TEAR 2017 OR 2027...HORSE & CARRIAGE ANYONE ?
HORSE, MULES, DONKEYS LLAMAS, ALPACAS OR CAMELS...OR ELEPHANTS ANYONE ?
WE CONSUME TOO MUCH CRUDE OIL, THE DEMAND IS OUTRAGEOUS AND WILL CONTINUE BASED ON THE OVER 300 MILLION DEMAND FOR CRUDE OIL & GAS.
CANADA IS A LARGEST SUPPLIER OF OIL. RUSSIA IS OUR LARGEST SUPPLIER OF GAS...DUH !! - Reply to this comment
- Posted by Omaar-101 at 12:17 PM : Jun 24, 2008
demonic-rats are blocking expanded exploration,,, that we could have had 30 years ago,,, we could have explored all that is available to the usa,,, demonic-rats will not allow exploring let alone drilling,,,
norway found a huge pile of oil off their shores and are energy independent now,,,
brazil found two huge piles of oil off their shores and are now energy independent now,,,
are we going to let ecological nice china drill off are shores instead??? taking all the oil we could have had for the taking???
think about it,,,
demonic-rats are even blocking oil shale and clean coal,,,
thank you demonic-rats,,, - Reply to this comment
- America`s..
Total Imports of Petroleum Oil (Top 15 Countries)
(Thousand Barrels per Day)
Drill all You want, You can..t produce the Oil these Countries provide, nor will you see a drop in price at the gas pumps. Over 300 Million Americans, The Demand is Too Great and it will take 7-10 years to bring this Oil on shore, by that time, Gas will be 15 $ per gallon an we..ll be riding Horse & Carriage.
Solution: Mass Train Transit North, South, East Mid West & West, like Japan, Oppose to Air Planes.
Note: Also Include Diesel & Electric Cars. Its That or the Horse & Carriage.
CANADA 1,952 1,795 1,902 1,909 1,846
SAUDI ARABIA 1,453 1,535 1,519 1,458 1,358
MEXICO 1,259 1,232 1,230 1,460 1,471
NIGERIA 1,115 1,154 1,105 891 1,089
VENEZUELA 1,019 858 990 1,182 1,070
IRAQ 679 773 693 562 488
ANGOLA 579 384 469 514 556
ALGERIA 393 247 300 530 495
BRAZIL 201 188 182 175 174
KUWAIT 176 199 218 126 187
ECUADOR 160 231 203 159 200
COLOMBIA 149 135 168 79 100
CHAD 133 101 110 80 76
RUSSIA 106 108 77 269 137
LIBYA 85 75 68 45 56
Country Apr-08 Mar-08 YTD 2008 Apr-07 YTD 2007 - Reply to this comment
- To be fair, McCain and his aides have publicly stated that in this battle, as well during his press for a temporary gas tax holiday, the Senator was not casting his lot with the economists.
And in a moment of sincerity, a senior adviser to the Arizona Republican,Douglas Holtz-Eakin, acknowledged that ...
Note: New Offshore Drilling Wouldn`t have an Immediate Effect on Gas Prices.
In fact, three weeks before he came out in support of Drilling, the Senator himself.
Offshore Resources: "Would take Years to Develop."
The Year (2017) will have No impact on TODAY`S GAS PRICES...NONE AT ALL !!
BY (2017-2020) YOUR A$$`S WILL BE RIDING HORSE & CARRIAGE, JUST LIKE THE AMISH !! - Reply to this comment
- The next time you fill up your gas tank, say thank you to the gas stations for continuing to take your worthless pieces of paper called dollars.
- Reply to this comment
- Last week, Sen. John McCain reversed his longstanding opposition to offshore drilling.
The Arizona Senator and his campaign surrogates framed the move as a much-needed effort to combat energy costs in the wake of record high gas prices - political action to Sen. Barack Obama`s inaction.
But the assertion that offshore drilling could have an impact on oil prices by placating oil speculators is itself a contested proposition.
Note: And some analysts insist that it is wishful thinking that the market would suddenly perk up because of the prospect of more supply.
The Energy Information Administration estimated that oil from these sites would hit the market around 2017 and peak around 2027.
Rushing the process would likely only result in less supply. "The faster we try to drain the less efficient the drainage," said Dr. Ralph Byrns, Professor of Economics at UNC-Chapel Hill.
"If we drain it dry and still get 14 billion barrels of oil [the President has suggested 18 billion], that itself would still take (20 years)" - Reply to this comment
Author Thomas Friedman on Obama's Afghanistan plan and the war on terror.
