Oil hits record-high above 93 dollars (.. and the winds whisper 'ANWRrrrr' .. 'Drill Offshorrrrre')

AFP on Yahoo ^ | 10/29/07 | AFP

[MeanWestTexan]

Sure it would.

1. Supply increase —price drop.

2. A large portion of the current price is “fear” driven -— countries/companies buying and hoarding, so to speak. No one fears the Eskimoes will turn into nuclear-armed thugs, cutting off the supply.

3. Increased domestic production — less imports, better balance of trade -— more expensive (I hate the word “stronger” in this context) dollars.

[RightWhale]

adding supply to offset demand will certainly drive prices down

Not if the supply carries higher costs. Forget the refineries; they are going to be seen as overbuilt in the next decade.

[BOBTHENAILER]

And the winds, whisper, ANWR

Beautiful Hendrix tune to imagine those reserves coming online.

And when drilling commences there, think Hendrix's "FIRE"

[trumandogz]

Even a big reserve find like the one they found under the Gulf of Mexico off Texas last year will help a lot.

Where exactly is this "big reserve" they found under the Gulf of Mexico off Texas?

Are you sure it was off Texas or was it really in Mexico Territorial waters?

[bicyclerepair]

Big oil/ragheads don’t want lower prices. It feels like they’re laughing at us fools while we fork over our money to drive our cars.

[ArrogantBustard]

< RANT >

ANWR is the Arctic National Wildlife Refuge.

ANWAR is the late former President of Egypt.

< /RANT >

[RightWhale]

We can’t allow aesthetics to cloud our economic judgments.

[rahbert]

Anwar did get a little oil when Egypt regained the Abu Rudeis field in Sinai.

[avacado]

"Drilling wont help. The falling dollar is the cause."

Even more reason to open up domestic drilling. We have a $750 billion trade deficit and 1/3 of that is for foreign oil imports. Reduce the flow of dollars out of the country and the dollar will gain some strength.

[The Great RJ]

The Dems already have this problem solved ...just tax gasoline more and hit the greedy oil companies with a windfall profits tax. We won't care about the price of crude when gasoline is $4/gallon due to added taxes and there are long lines at the pumps.

[Phantom Lord]

Little known and NEVER mentioned in any press report or anti-ANWAR drilling lit is that when congress created ANWAR, section 1002 of ANWAR was set aside specifically for drilling!

Also, Cuba and China are drilling on the continental shelf within 45 miles of Florida, but we can’t. Makes perfect sense to me. How about you?

[RockinRight]

At this point though...is the dollar the cause of oil prices, or are oil prices partly responsible for the dollar’s decline?

[ikka]

Your “peak oil” nonsense was debunked by me and other posters last time.

[RockinRight]

What else does your magic 8-ball tell you?

[RightWhale]

Peak oil was last month. Noting to debunk except knowing what peak oil actually means.

[RightWhale]

We’re on the downslope.

[vpintheak]

To ALL:
In the Alaska State Constitution, Alaska owns ALL mineral rights in ALL of Alaska. Hint, hint...

[Species8472]

In the Alaska State Constitution, Alaska owns ALL mineral rights in ALL of Alaska. Hint, hint...

I'm not shure you are right on this, I seem to remember that the feds are going to take 90% of ANWR when it is developed.

Thackney should have the numbers......

[Betty Jane]

Can’t Bush do it by executive order? Do a reverse Clinton and put energy on the table to help the American people.

[dennisw]

The greenies have been keeping new coal plants from being built due to the carbon emissions. This coal will burn clean, I’m enraged