How will offshore drilling help lower gas prices?
Only serious answers.
Aren’t gas prices controlled, primarily, by future’s projections and gas speculation? And wouldn’t our oil refineries be subject to damage from natural disasters like hurricanes (which are currently driving up prices?) Therefore, every hurricane season we would see even more drastic spikes in price and dips in production?
Why has the Republican Admin. and Congress failed to implement alternative fuel legislation after 8 years in power? Could it be because so many of them, including our "president" are getting super-rich off oil profits?
Only serious answers.
Supply & Demand is a concept with which I am familiar, but oil production and demand have very little to do with the actual market and its fluctuations. Secondly, wouldn’t investment in alternatve fuels decress demand for oil and, therefore, decrease price?
So far, no one has answered the main question which would be, why depend on offshore drilling when our refineries can, and must, be taken off-line during things like hurricanes?
April 8th, 2010 at 3:24 pm
First, offshore drilling WILL increase supply. Yes, our oil refineries and drilling platforms ARE subject to natural disasters. So it’s a lose/lose scenario. Either we rely on foreign production, which is controlled by countries with less than favorable dispositions to us (Russia, Venezuela, Iran, Iraq, etc.) or we put all our eggs in one basket and let the months of June through October drive our prices through the roof. Hurricane Ike caused gas to spike $1.20 nationwide, imagine if an even higher percentage of our oil was produced domestically.
Second, the other alternative fuels like solar, wind and nuclear have been put on the backburner for so long they’re collecting dust. We HAVE electric cars. I watched the documentary "Who Killed the Electric Car?" which shows them. They do NOT "catch fire" and the battery technology is superb. You should rent that one and see for yourself.
And yes, oil price can be determined by anyone along the chain of import. Anyone who has a hand in getting the oil from its production country to our gas tanks can jack up the price. Why do you think the price hasn’t come down even though futures have?? Why do you think Exxon and the rest are making something like $40,000.00 PER SECOND! Why haven’t they disclosed how much THEY pay for it?? Why do Iraqis pay $.73 per gallon for regular when we pay so much more??
It’s time for REAL change. Not more of the same.
Obama/Biden ‘08
April 8th, 2010 at 3:24 pm
You want serious answers only, yet ask ridiculous biased questions.
Offshore drilling will lower the price of gas because of a little thing called "Supply and Demand". You liberals have probably never heard of it, but you could try googling it.
April 8th, 2010 at 3:24 pm
Supply and demand is the ultimate arbiter of prices.
Alternative fuel legislation is a great way to wreck the economy and guarantee that we do NOT get good alternatives.
BTW, the President’s finances are an open book, and he’s not getting rich from oil profits.
Nice conspiracy theory. Too bad the facts don’t agree.
April 8th, 2010 at 3:24 pm
supply and demand. the more of something available, the less it cost. computers are a great example, cell phones, hybrid cars all. investors on wall street make proffits for their shareholders and those shareholders are from rep and dem to indies. most 401k have energy as part of their investment plan.the oil would not go directly to the USA but to the world market. 85 million barrels a day are used worldwide. if we could add 3-6 million barrels a day from offshore drilling, it could drop prices significantly. not is one year and not in thirty but until we can go alternative, we need a bridge and oil is it.
April 8th, 2010 at 3:24 pm
Because, more drilling, means more oil is being produced.
Any alternative fuels, would be subject to natural disasters.
Which members of the administration, do you think have any investments at all in the oil industry ?
The webpage http://www.publicintegrity.org/
List the investments of all administration members.
You do understand, the OIl companies, do not control the price of oil.
That they must BUY 70% of the oil they refine, from other countries.
Why depend on OIL ??
Because there are no viable affordable alternatives.
There is not much use, in replacing gasoline, that will let you drive 30 miles for $3.00
And replacing it with something else, that will cost you $5.00 to drive 30 miles.
Even going to natural gas has problems, since the US doesn’t have enough natural gas to replace oil and we would still end up importing it from other countries.
Electric cars have alot of problems,
They include, there are no reliable batteries yet, they tend to catch on fire and cannot hold enough charge to make a car livable.
We have a electric power shortage in america, we already have to import elect power from canada.
And since going to electric cars, would require alot more elect power plants,
That would increase green house gas’s into the atmosphere.
Power plants are the single largest contributor of green house gas’s.
But it all boils down to, oil is the cheapest source of fuel available.
There are no cheaper alternatives.
June 8th, 2010 at 7:46 pm
I know a billiant man that has worked for NASA and invented an engine that is entirely spring loaded. It’s brilliant. Yet, he can find any energy company in the US to buy it because THEY WOULD LOSE MONEY!!! So, Dubai has offered him $300 million for it…WTF??? It’s all about greed & the people who can make the change are the ones who control the current market! BTW…he has been to a garage in DC that houses hundreds of alternative fuel vehicles that the govt has purchased the patents on…put them in a garage….and they’ve never been seen again!