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i didn't know US oil was strictly for the US.
...if the United States would recover and refine the oil resources it has in its own country.
OPEC ministers say world can handle $100 oil
i didn't know US oil was strictly for the US.
sorry, i should have waited for jack sommerset to weigh in on this before i posted.
So Captain Right Wing thinks we should nationalize the oil industry?
Tell us how much lower the price of oil would be, yoni.
Be specific.
No. There are private companies perfectly willing to do the job.
what job? selling oil on the open market? we already have that.
OPEC is not even the largest supplier of oil in the world today.
My sources say we should hit the Pacific up. There are areas already targeted off S. California before the drilling ban took effect. You will find them near Santa Barbara. 25 oil platforms in federal waters are still producing. Piplines and other frameworks are still in place and it will not take more than 3-4-5 years to jump start production in those places. That will start to drive down the price a bit. Drill Baby Drill!!!
ANWR, The Gulf, the Pacific...
So how much would all that lower the price of oil, jack?
Give us a figure in dollars.
my sources lol
Not really true Yonie. OPEC drives the price train. Do American oil companies whine when the price goes up? no, but they aren't a large enough portion of the worldwide oil supply to move the market.
Imagine the jobs, industry, and economic prosperity that would be fostered if we were allowed to use our resources like Mexico, Canada, and every John Cuba pimps their waters out to.
American drilling companies want back in the game and so long as the price of oil -- and the costs of drilling due to political barriers -- makes it cheaper to import than drill, that's a problem.
Wrong. Just one member (Saudi Arabia) is the largest producer BY ITSELF.
You can barely find a forklift or boom lift right now to rent in San Antonio because they are all down in South Texas rented to guys drilling that Eagle Ford Shale.
Wrong. I said supplier, you said producer. RIF.
Non-Opec producers supply almost twice as much oil than Opec producers at this point in time.
I don't have anything newer, but this is up to 2004:
I also want to know how Yoni wants to force US producers to sell locally for cheap?
Isn't that anti-free market?
Why aren't them selling locally now instead of exporting it for more money?
Supply and Demand. They have to sell what little domestic oil they recover to the highest bidder in order to be profitable. Increase their ability to drill for oil here and their price will drop.
yoni keeps saying the supply will rise and the price will drop.
How much do your blogs tell you the price of oil would be affected?
Give a ing number for once.
You are still wrong. And for all practical purposes Russia is a "silent" member of OPEC as they have to support high oil/energy prices for balance of trade reasons.
http://www.nationmaster.com/graph/en...oil-production
When Barry withdrew the executive ban on offshore drilling the price of oil dropped in price by more than 10%. Also an increase of 3 million barrels in the supply numbers versus a 3 million predicted declined. Several deepwater rigs all of a sudden in the Gulf started producing more. That's just the good old US of A annoucing they will start drilling more.
Alot of you s hate hearing this but it's common sense if we drill more oil the price will go down.
Last edited by jack sommerset; 01-15-2011 at 03:24 PM.
How much, jack?
Give us an actual projection.
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