Democrats FINALLY get it right.

[Guest Bluto]

Democrats to let offshore drilling ban expire

 

http://apnews.myway.com/article/20080924/D93D1A5G1.html

 

WASHINGTON (AP) - Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer.

 

House Appropriations Committee Chairman David Obey, D-Wis., told reporters Tuesday that a provision continuing the moratorium will be dropped this year from a stopgap spending bill to keep the government running after Congress recesses for the election.

 

Republicans have made lifting the ban a key campaign issue after gasoline prices spiked this summer and public opinion turned in favor of more drilling. President Bush lifted an executive ban on offshore drilling in July.

 

"If true, this capitulation by Democrats following months of Republican pressure is a big victory for Americans struggling with record gasoline prices," said House GOP leader John Boehner of Ohio.

[KyFans11]

So much for inflating our tires properly huh?

 

About time!

[UKPat02]

Alright! Now in 10 years when this oil is finally refined into gas and gets onto the market, we'll really be cookin'!

[cch5432]

Alright! Now in 10 years when this oil is finally refined into gas and gets onto the market, we'll really be cookin'!

 

This can only help. With the effect that speculation has on the market, this can only bring prices down- even if only by a little bit.

[UKPat02]

This can only help. With the effect that speculation has on the market, this can only bring prices down- even if only by a little bit.

 

Then why not just put an end to speculation and not drill?

[cch5432]

Then why not just put an end to speculation and not drill?

Alternative fuels are not ready to be used yet- either the technology has not been developed fully, or it is still more expensive than gasoline. Either way, the politicians are looking to give Americans relief now, and this is the most effective (and market-based) way right now.

[Covercorner]

This can only help. With the effect that speculation has on the market, this can only bring prices down- even if only by a little bit.

From having worked briefly in the oil buisness, and still having some contacts there, from my understanding, the way that the oil/gas market works, it would be a minimum 7 years before any oil(assuming not too much time passes before a strike) would actually be refined and be avaliable at the pump. In addition to that, due to other factors(such as the number of refineries and effecincy at those refineries) an impact on gas prices directly related to offshore drilling, would not be noticable at the pump until nearly 2030.

[UKPat02]

From having worked briefly in the oil buisness, and still having some contacts there, from my understanding, the way that the oil/gas market works, it would be a minimum 7 years before any oil(assuming not too much time passes before a strike) would actually be refined and be avaliable at the pump. In addition to that, due to other factors(such as the number of refineries and effecincy at those refineries) an impact on gas prices directly related to offshore drilling, would not be noticable at the pump until nearly 2030.

 

Awesome! Drill baby, drill!

[cch5432]

From having worked briefly in the oil buisness, and still having some contacts there, from my understanding, the way that the oil/gas market works, it would be a minimum 7 years before any oil(assuming not too much time passes before a strike) would actually be refined and be avaliable at the pump. In addition to that, due to other factors(such as the number of refineries and effecincy at those refineries) an impact on gas prices directly related to offshore drilling, would not be noticable at the pump until nearly 2030.

So what's the alternative solution? I have to read a leadership book for some stupid management class I have to take. It asks "When is the best time to plant a tree?" The answer is 25 years ago. When is the next best time? Right now. (Ironic metaphor because Clinton and Republican Congress did not drill 10 years ago)

 

All I am saying is that allowing offshore drilling can only help, and the market will sort the rest out. I am not guaranteeing large decreases in gas prices, but right now this is the most effective way to lower gas prices.

[cch5432]

Awesome! Drill baby, drill!

 

You give me an alternative solution (instead of sarcastic comments that add little to the discussion) and we can have decent political and economic debate, which is what P&R has been before.

[UKPat02]

You give me an alternative solution (instead of sarcastic comments that add little to the discussion) and we can have decent political and economic debate, which is what P&R has been before.

 

Take the money used for drilling and invest in new technologies. If, as CC says, it will be 2030 before the oil comes onto the market, I fully expect oil to be near obsolete by then and sure as heck expect energy independence by then. You know when T Boone Pickens is bailing out of the oil market it's time for the rest of the US to follow suit.

[Covercorner]

So what's the alternative solution? I have to read a leadership book for some stupid management class I have to take. It asks "When is the best time to plant a tree?" The answer is 25 years ago. When is the next best time? Right now. (Ironic metaphor because Clinton and Republican Congress did not drill 10 years ago)

 

All I am saying is that allowing offshore drilling can only help, and the market will sort the rest out. I am not guaranteeing large decreases in gas prices, but right now this is the most effective way to lower gas prices.

 

I agree with your assesment, and agree with the basic tenent that offshore drilling can help. I just think that a true commitment to developing alternate energy solutions, while expanding oil production is the right thing. I don't think we have a true commitment yet. I also disagree with the politization of drilling by both parties in the campaign season. From my experience, those in the industry that I dealt with knew that the commitment to alternative energy was the right way to go, and that they had the ability to do it, but because of the potential loss of money, didn't want to take that chance.

[Hasbeen]

I favor drilling and doing all possible to become energy self-reliant.

 

Now, having said that, why do I feel like I just got manipulated again?

[Hatz]

From having worked briefly in the oil buisness, and still having some contacts there, from my understanding, the way that the oil/gas market works, it would be a minimum 7 years before any oil(assuming not too much time passes before a strike) would actually be refined and be avaliable at the pump. In addition to that, due to other factors(such as the number of refineries and effecincy at those refineries) an impact on gas prices directly related to offshore drilling, would not be noticable at the pump until nearly 2030.

 

I have a question. Is the real problem supply or refineries? I've long felt that the limited number of refineries is the real issue that keeps the prices up and the oil companies wealthy. They won't build new ones. Maybe it's because no one wants them in their backyard but is it also because the more refineriers we have, the more production takes place? And if that is so then they would not be able to hold to the price/profit margin as tightly as they do now?

[FarBeyondDriven]

I have a question. Is the real problem supply or refineries? I've long felt that the limited number of refineries is the real issue that keeps the prices up and the oil companies wealthy. They won't build new ones. Maybe it's because no one wants them in their backyard but is it also because the more refineriers we have, the more production takes place? And if that is so then they would not be able to hold to the price/profit margin as tightly as they do now?

Contrary to popular belief, their profit margin is not that great to begin with.