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The Gas Prices We Deserve


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The future of energy prices should be the top issue in November, IMO, and neither candidate is taking a sensible approach to the biggest threat to our future. If McCain would reverse course he could bring back conservatives without losing many moderates and independents. Will he?

 

The Gas Prices We Deserve

 

....Also disqualified from complaining are all voters who sent to Washington senators and representatives who have voted to keep ANWR's oil in the ground and who voted to put 85 percent of America's offshore territory off-limits to drilling. The U.S. Minerals Management Service says that restricted area contains perhaps 86 billion barrels of oil and 420 trillion cubic feet of natural gas -- 10 times as much oil and 20 times as much natural gas as Americans use in a year.

 

Drilling is underway 60 miles off Florida. The drilling is being done by China, in cooperation with Cuba, which is drilling closer to South Florida than U.S. companies are.

 

ANWR is larger than the combined areas of five states (Massachusetts, Connecticut, Rhode Island, New Jersey, Delaware), and drilling along its coastal plain would be confined to a space one-sixth the size of Washington's Dulles airport. Offshore? Hurricanes Katrina and Rita destroyed or damaged hundreds of drilling rigs without causing a large spill. There has not been a significant spill from an offshore U.S. well since 1969. Of the more than 7 billion barrels of oil pumped offshore in the past 25 years, 0.001 percent -- that is one-thousandth of 1 percent -- has been spilled. Louisiana has more than 3,200 rigs offshore -- and a thriving commercial fishing industry.

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Nice article.

 

This is disturbing:

Drilling is underway 60 miles off Florida. The drilling is being done by China, in cooperation with Cuba, which is drilling closer to South Florida than U.S. companies are.

 

ANWR is larger than the combined areas of five states (Massachusetts, Connecticut, Rhode Island, New Jersey, Delaware), and drilling along its coastal plain would be confined to a space one-sixth the size of Washington's Dulles airport.

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It is too bad that the Republican presidential candidate is on the wrong side of this issue.

 

Fuelish Democrats

 

Republicans finally have a winning argument on a big issue, and they'd better make the most of it. It starts with high gasoline prices--the single most infuriating issue to voters these days--but doesn't end there.

 

Democrats are not being blamed for causing the price of gasoline to reach $4 a gallon, at least by the public and at least for now. Where Democrats have stumbled embarrassingly is in their campaign to persuade the public that the American oil industry is the chief culprit. A Gallup national poll in May found only 20 percent blame the oil companies for gouging, down from 34 percent a year ago.

 

Where Republicans have succeeded is in selling their solution to soaring gas prices: drilling for oil offshore and on federal lands, areas now off limits. In the Gallup survey, support for drilling in precisely these areas jumped from 41 percent in 2007 to 57 percent in May.

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Anyone ever heard of the Myth of the Bakken field out in Montana? Supposed to be twice the size of the Saudi's?

 

It is not a myth, just debate on how much can be extracted economically. The estimates are all over the range, but there is oil there. Shale oil is not as easy to recover, hence the wide range of estimates.

 

http://en.wikipedia.org/wiki/Bakken_Formation

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I am going to claim a great deal of ignorance here, so please help me out. Estimates are that the amount of oil in ANWR could solely full the US for 1 to 2 years, or supplement it at 5% for about 12 years. To me (and again, I am sure that I am missing something here), how does that make drilling in ANWR the answer to our petroleum prayers? Once the drilling has commenced and the oil is refined and utilized, it will only last for a short time. Aren't we better off looking for something more sustainable?

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I keep hearing people talk about alternative fules and I agree that they need to be developed BUT they are not coming down the pike in the near future. ANWR and off shore drilling could ease the gas price pain until they are developed.

 

Remember who it was that vetoed the bill that would allow drilling in ANWR? How much gasoline has he or his manly wife paid for recently?

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I am going to claim a great deal of ignorance here, so please help me out. Estimates are that the amount of oil in ANWR could solely full the US for 1 to 2 years, or supplement it at 5% for about 12 years. To me (and again, I am sure that I am missing something here), how does that make drilling in ANWR the answer to our petroleum prayers? Once the drilling has commenced and the oil is refined and utilized, it will only last for a short time. Aren't we better off looking for something more sustainable?

 

Any takers on this? I was hoping someone could help me out.

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It is not a myth, just debate on how much can be extracted economically. The estimates are all over the range, but there is oil there. Shale oil is not as easy to recover, hence the wide range of estimates.

 

http://en.wikipedia.org/wiki/Bakken_Formation

 

There is a really good YouTube video showing how yes many years ago it would have been far to expensive to extract, but with today's technology, they were saying (in the video) it would cost us like 14, 16 dollars per barrel, around there.

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Any takers on this? I was hoping someone could help me out.
It has been covered in other threads. Try searching the forum. In a nutshell, those who put the ANWR in terms of months or years of total US consumption are being deliberately misleading.

 

When supply and demand of any commodity are closely matched, a relatively small increase or decrease in supply can have a substantial impact on prices. Production from ANWR will be stretched out over several decades once production begins, at a rate of between 800,000 and one million barrels per day.

 

What the people who spout the statistics that you cited want you to forget is that domestic oil production declines every year because oil companies are barred from developing new oil fields. The supply is shrinking and the demand is growing.

 

The production from ANWR will have an impact on prices. If nothing else, the added production will slow the rate of increase of global oil prices.

 

I think that there are at least two previous threads dealing with ANWR. I started at least one of them, which contains comments by Sen. Schumer and a couple of maps showing the actual section of ANWR in which oil reserves would be developed.

 

Also, all of the reserves could not be pumped from ANWR and put in a pipeline in a two-year period. It is not possible and pumping at too high of a rate can actually reduce the overall recovery of reserves, which is economically and environmentally irresponsible.

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Any takers on this? I was hoping someone could help me out.

 

It's like putting a band aid on a big wound. It would give us short term relief until we can find a serious alternative source. More and more hybrids are getting ready to boom on the market within the next 5 years. The entire auto industry is drastically changing to counteract gas prices.

 

Someone has a car coming out in 2010 I believe where the first 40 miles its solely electric, no gas needed.

 

We need help now and into the near future or we will be in one recession after another. America cannot afford 3-5 dollar gas with our infrastructure and lack of pubic transport.

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It's like putting a band aid on a big wound. It would give us short term relief until we can find a serious alternative source. More and more hybrids are getting ready to boom on the market within the next 5 years. The entire auto industry is drastically changing to counteract gas prices.

 

Someone has a car coming out in 2010 I believe where the first 40 miles its solely electric, no gas needed.

 

We need help now and into the near future or we will be in one recession after another. America cannot afford 3-5 dollar gas with our infrastructure and lack of pubic transport.

 

Thank you for the thoughtful response. :thumb:

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