President Bush will lift executive ban on offshore drilling, the White House says. -CNN
oilcos have already drillable leases on 38M acres, on and off shore.
But they have been sitting on them, claiming they are just now starting to explore and drill, but "it takes time".
Lifting the OCS ban hands more acres to the oilcos by the lamest-duck president. nothing but another give-away to enrich the oilcos.
Will have NO effect on gas prices for at least 10 years, and then only a tiny effect.
This will fix everything!
deregulating is not fixing, it's getting out of the way.
Congress still has to act:
http://www.washingtonpost.com/wp-dyn...400763_pf.html
and there's tons of diverse opposition:
http://www.washingtonpost.com/wp-dyn...071302052.html
Old Sick Senile 95%Same McFlopPanderKeating says OCS drilling will have immediate effect on gas prices.
Who is in their way now of all the existing leases they have but aren't drilling?
Please explain.
Economics and technology?
Near offshore California and Florida would be one of a lot easier to drill than deep water Gulf Of Mexico...
But hey... it's still a band aid, and the oil isn't going to be to the pump for years and years to come.
who's they?
I'm curious to see Scott's take on this.
I'm no oil or economic guru but I don't see this happening any time soon. Good political move on Bush's part though.
You are absolutely right on this point.
Yep it is going to take a few years. But so are any alternatives or cafe cars that will make a dent. We need to do all of these things. And build some more coal fired and nuclear energy electric plants. Those new electric cars are going to do much good if you haven't got the power to recharge them. Or the oil for the energy cells.
Like the govt guaranteeing the solvency of Fannie Mae and Freddie Mac?
There is no quick fix for our energy problems, so until someone installs a flux capacitor or Mr. Fusion in my Honda Accord, I still need gasoline (as do the other millions of vehicles on the road).
what does that have to do with me clarifying the definition of deregulation?
Oil will always be a part of our economic needs.
What really needs to be done is to have a make all passenger cars on the road some sort of readily available fuel source that is abundant. Drilling for oil in presently untapped areas only delays the current problem so that next generations will have to deal with the same thing as we are now.
Like xray and other have said we need/have needed to build more nuclear power plants to alleviate the oil dependency even more.
Coal is not really the answer, even though we have lots of it, it will run out in the future.
We need to have a viable back up energy plan now...should have been one years ago.
These oil companies are making billions a year and instead of developing new energies and sources they have this country under their thumb while making a hefty profit. I don't think it is all government's fault by any means, and both parties are to blame.
Maybe a presidential declaration like Kennedy's landing on the moon by the end of the 60's or something might help.
Boutons, other people watched Obama's speech today too. For God's sake, if you are going to steal from someone, at least wait a day or two before restating it as your own thoughts on a website.
Someone quote me on this so Captain dip will read it since he's too much of a puss to take me off ignore and argue with me.
GGA, what I am saying is for government to get out of the way. Government has been the problem not the solution to our energy needs.
My God, they, government screw things up. Like Fannie Me and Freddie Mac. My opinion. Let them fail. And then prosecute the out of those that scammed the system. Remember Enron. Except Congress create these two en ies and cant afford to let them fail. But they will lay blame on everything except themselves.
Sounds like your suggesting that we leave the oil in the ground because we can't get it to the market tomorrow. Pumping more oil buys time ("delays the current problem") for the continued developement of viable, alternative fuel sources. That's a positive, not a negative.
The demand for oil is expected to rise 50% over the next 10 years, I'd say it's a whole lot more than a political move jc. Long overdue.
Would you have considered it just a "poliitcal move" if it Obama had initiated the deregulation?
JS, I'm not "stealing" from anyone.
go your less self
Absolutely correct.
When will people realize government is the problem when they stand in our way?
Damn right. I'd still have some slaves if it weren't for the damn government getting in the way.I hear ya!!!
Actually, no. It's not a positive, because it doesn't buy you any time.
Think about it, it takes 10 or so years from a land lease until you get gas at the pump. Now, you mention that in 10 years, gas demand will increase aprox. 50%.
If even in our wildest dreams, we were able to supply a 20% of that increased demand with our own oil, gas prices would still be substantially higher, we didn't decrease our oil dependency, and we wasted 10 years.
So, completely a political move by Bush. It actually works great for him, because now they'll make-believe the uninformed that the Dems in Congress are keeping gas prices high, while it makes the oilcos (big supporters of his presidency) be on a win win situation no matter what Congress ends up doing.
Like the Saudis have told us, the oil is worth much more in the ground than sold.
That's very probably why the US oilcos are not ripping into their 38M acres. The oil get more valuable the longer it stays in the ground. With current prices and plenty of oil available, no oil company is missing out on the fun, and will try to put off expensive exploration and investment as late as possible.
You have no idea what you are talking about... everyone wants a piece of these current prices... Oil companies are scrambling to find new reserves to take advantage of them.
"scrambling to find new reserves"
So why haven't the US oilcos been drilling in the approved 38M acres on and off shore? They need the stimulation of $140/barrel to drill?
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