Comments on: The Immediate Benefit Of Offshore Drilling

National Review: The Idea That Drilling Won't Bring Down Gas Prices Is Wrong

[cfin5]

I don''t mind President Bush rattling the "We''re gonna dump foreign oil" saber ALL DAY LONG. It worked quite well didn''t it? Hey George! Time for an encore and really belt out some of "their" fears,....do the hot mic thing :)

[Razzl]

Hemingway''s argument is a total non sequitur. Not a single relevant issue about oil prices, such as peak oil or Chinese demand or investment pressure on futures contracts, was discussed. To claim that allowing drilling in areas where, by his own admission, we don''t even know if any oil exists is guaranteed to bring down oil prices shows all the signs of the faith-based reasoning that constitutes political conservatism these days. The bottom line is that conservatives hate conservation (pretty ironic, isn''t it, when you consider the shared root word) because it isn''t "their" movement and they would rather petulantly destroy the California coast or Alaska tundra just to spite those who resist them. With conservatives it''s all about their paternalistic desire to control and they''re prepared to burn down the house if they can''t be in charge...

[aaabee-2009]

Posted by jamesm12341 at 01:26 PM : Jul 17, 2008

What did President Bush the First and other Republicans install the Outer Continential Shelf Moratorium in the first place, not known as he was for being any kind of environmentalist.

"Except for Pres. Clinton extending Pres. Bush Sr.''''''''s first moratorium, it has been all republican presidents, and govenors who stopped the drilling. Sen. Obama and Sen. Clinton voted for the drilling. Sen. McCain''''''''s NV looks pathethic with his hollow calim to help find new American Oil."

"That Former Fla. Govenor Jeb Bush has been silent on the possiblity of drilling off the coast of Fl."

"In 1981 a Congrees passed the Outer Continental Shelf (OCS) Moratorium. That prevented the off shore drilling.

"In 1990 Pres. George H.W. Bush authored an additional protection until 1990.
That congress has continued through bi-partisan support to keep the moratorium.
If Pres. Bush Sr. did not save the moratorium, there would have been drilling."

http;//www.csmonitor.com/2

[aaabee-2009]

Posted by jamesm12341 at 01:26 PM : Jul 17, 2008

What did President Bush the First and other Republicans install the Outer Continential Shelf Moratorium in the first place, not known as he was for being any kind of environmentalist.

"Except for Pres. Clinton extending Pres. Bush Sr.''''''''s first moratorium, it has been all republican presidents, and govenors who stopped the drilling. Sen. Obama and Sen. Clinton voted for the drilling. Sen. McCain''''''''s NV looks pathethic with his hollow calim to help find new American Oil."

"That Former Fla. Govenor Jeb Bush has been silent on the possiblity of drilling off the coast of Fl."

"In 1981 a Congrees passed the Outer Continental Shelf (OCS) Moratorium. That prevented the off shore drilling.

"In 1990 Pres. George H.W. Bush authored an additional protection until 1990.
That congress has continued through bi-partisan support to keep the moratorium.
If Pres. Bush Sr. did not save the moratorium, there would have been drilling."

http;//www.csmonitor.com/2

[pvperson]

So if Bush''s statement caused the oil price drop, what did Bush do to cause the oil price to double in the first place? Wait, let me guess, Bush didn''t have anything to do with the price increase, right? As usual neo-cons won''t accept responsibility for the bad things that happen under their watch, but jump out there claiming credit for anything good that happens. Bushshit.

[eggy1620]

ubrew12 said %u201CAnd we should set our energy policy like cattle make decisions during a stampede.%u201D
Well, we are being led by a bunch of Longhorn rustlers.

[ubrew12]

eggy1620 said: "Commodities investors are very much like deer. They%u2019re spooked by the slightest thing and reassured by the absurd."

That''s true. And we should set our energy policy like cattle make decisions during a stampede.

What did I just hear Cheney say? ''Git along doggies?''

[eggy1620]

Despite the source, there is some truth to this argument. The price of oil & gas is high not because current supplies are tight, but because future supplies are expected to be tight as long as current production capacity is expected to not increase with future demand. Any announcement/policy statement/action taken that signals an increase in future capacity will reduce the buying price. Commodities investors are very much like deer. They%u2019re spooked by the slightest thing and reassured by the absurd.

[ramos937]

Right now, most of the oil coming from the Alaska Pipeline is going into tankers bound for Asia. Unless enforceable way is found to dedicate the offshore oil to the US, what benefit would this oil be to us?

We now have a great opportunity to develop a crash emergency energy program to develop alternate fuel sources. Even with the associated prices, alternate fuels would be competitive with petroleum products. It would also help lessen our dependence on foreign oil.
We can exploit this opportunity or blow it as we did the last time we had a similar fuel emergency.

[bluestardad]

DONT DO ANY GOOD WHERE WE DRILL OVER HALF THE ALASKA OIL IS SOLD TO THE FAR EAST!


SOUNDS LIKE MORE REPIG BUSHIT TO ME!

[jjp735i]

"As for the Outer Continental shelf, more drilling could indeed produce more oil, but not right away. The Energy Information Administration says that there are "substantial resources of crude oil" offshore. However, it also notes that both time and money would be required to produce any oil from areas that are currently off-limits. Specifically, it estimates that no production would begin until 2017 and that it would take until 2030 to reach peak production, increasing total domestic production by 3 percent.

And even then, the EIA study says, "Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."...factcheck.org

So even after waiting 22 years the impact is expected to be insignificant. The CBS article is pure Conservitive Bushit. And the sad part is people will buy it and Congress will give in to Bush & Friends.

[terrapin78]

Closing the Enron Loophole will bring down prices faster than any hole in the ground!

[joyous88]

republicon greed is the problem not the solution,

so what! we drill offshore, helll we could even have the oil companies drill on the leases we have already given them, for once,

so what,

sooner or later it will be gone, and if we do not have the alternative energy set established, even
the greed driven republicon pigs will be sorry

[jimfinster]

Cause and Effect:

There is no evidence that the announcement had ANY effect on the price.

[ubrew12]

So offshore drilling will bring down the price of oil. Will it bring down the earth''s temperature?

If conservatives won''t accept any solution but their own (and you KNOW that''s their problem with Gore''s message), take the T Boone Pickins solution: invest in wind power and use the natural gas otherwise burned for energy to be used for transportation: bye bye foreign oil.

The advantage of offshore oil is its like money in the bank. Are we REALLY at the point where we MUST access it? I don''t think so.

Regarding oils price, it''s clear that the Reagan/Bush $10 trillion debt, Gramms mortgage banking deregulation, Greenspans low interest rates in support of loose mortgages, and 30 years of absolute Republican opposition to the very idea of alternative energy has led to an economic crisis in which OIL is the world''s new stable currency. Now they''re holding the rest of us HOSTAGE to its price to FORCE us to open up our remaining oil stocks. Regardless of whether we do or not, NOTHING is going to change the logic or trend of these statistics:

New Oil Discoveries:
1960s: 47 BBbl/year
1970s: 35 BBbl/year
1980s: 24 BBbl/year
1990s: 14 BBbl/year
2000s: 4 BBbl/year