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Originally posted by Rook1545
Give me some proof, any proof, that this drilling will lower oil prices in the foreseeable future. I have posted about it so many times I feel like a broken record. Short answer, it will not affect anything for the next 5-7 years, possibly 10. The right wing always seem to think that DRILL NOW is the answer, if they did their homework, they would know, it is not answer at all, it is a diversion.
Originally posted by Keyhole
Economics 103
"Stop Oil Speculation Now" and an immediate drop in oil prices.
Then drill for more oil and that will bring prices down even further in the future!
Originally posted by RRconservative
Originally posted by Rook1545
Give me some proof, any proof, that this drilling will lower oil prices in the foreseeable future. I have posted about it so many times I feel like a broken record. Short answer, it will not affect anything for the next 5-7 years, possibly 10. The right wing always seem to think that DRILL NOW is the answer, if they did their homework, they would know, it is not answer at all, it is a diversion.
Economics 101....
More supply will bring prices down. More supply will also shake up the speculators also bringing prices down.
Note to high school graduates...don't go to college because it will not affect anything for many years.....
68 million acres of unproven leases is nothing compared to the 1.1 BILLION acres off limits.
Drilling now is more of an answer than doing nothing!
The 68 million acres (28 million hectares) under lease to oil companies has potential reserves to nearly double U.S. oil production and increase natural gas output by 75 percent, the Democrats claim.
The vast majority of the outer continental shelf is already open to oil exploration: Areas containing an estimated 82 percent of all of the natural gas and 79 percent of the oil are today available to energy companies through existing federal leases.
The 68 million acres (28 million hectares) under lease to oil companies has potential reserves to nearly double U.S. oil production and increase natural gas output by 75 percent, the Democrats claim.
Originally posted by Grafilthy
I'm tired of "oil speculators".....
I want names, companies.......info on these guys.
They need to be exposed to the people for what they have been up to.
Give me some proof, any proof, that this drilling will lower oil prices in the foreseeable future. I have posted about it so many times I feel like a broken record. Short answer, it will not affect anything for the next 5-7 years, possibly 10. The right wing always seem to think that DRILL NOW is the answer, if they did their homework, they would know, it is not answer at all, it is a diversion.
Originally posted by Rook1545
Economics 102...
If supply already outweighs demand, increasing that supply will not lower prices significantly.
You can whine and cry about pumping all you want. Until you have a way to process it, nothing will change. Let me make it real simple. The US refinery system is at near max. If you have no place to refine the oil, you are not solving anything, and in fact creating even more problems.
The problem is people think that the lack of supply come from lack of crude, that is false. The big problem is that there is nowhere near enough domestic refining facilities. If you were to increase the refining capacity, then you could see a noticeable drop in gas prices.