it will reach $130bbl, there is little reason to expect gasoline prices to do anything other than climb higher in the near future.Posted on 03/05/2011 7:22:47 AM PST by Kaslin
We are living lives of self-imposed impoverishment.
it will reach $130bbl, there is little reason to expect gasoline prices to do anything other than climb higher in the near future.
One of the problems we face right now is the uncertainty in Libya, an OPEC nation that has cut its normal daily output of 1.6 million barrels of oil per day (bpd) to just over 700,000, amid the political tensions surrounding Muammar Gaddafi. What this means for humanity as a whole is that there is now less oil on the world’s market to meet the demand around the globe. What this means for you and I as Americans is that our refusal to “drill here, drill now” is catching up to us with a vengeance.
The noose we allowed foreign oil producers to place around our necks is tightening.
And the worst part of all this is neither the per gallon gasoline price nor the per barrel price of oil, but rather the fact that it doesn’t have to be this way. We could be pumping enough oil here at home to offset the ramifications of the upheaval in Libya, but our president, various members of his administration, and the majority of Democrats in the Senate remain unwilling to budge on the idea. Therefore, we’ve literally turned our backs on billions upon billions of barrels of oil that we could be extracting and using right here at home.
For example, there are formations in Montana and North Dakota that hold upwards of “20 billion barrels of recoverable crude.” Moreover, these “formations also hold the natural gas equivalent of 4 billion barrels of oil.” These figures represent such vast amounts of oil that if we were just to avail ourselves of the crude in North Dakota alone, it would place that state among “the 13 or 14 largest producing countries” in the world.
And how about Alaska? Recent reports about that state’s Outer Continental Shelf (OCS) show that it contains amounts of oil on par with Montana and North Dakota, and even exceeds them in the amount of natural gas it contains (“15 trillion cubic feet of natural gas”).
In fact, studies show that “drilling on Alaska’s OCS could make Alaska the eighth largest oil resource province in the world.” Yet we choose to rely on the Saudis, countries like Venezuela, and men like Gaddafi for the crude we need to make fuel for our cars, trucks, trains, airplanes, etc.
And I haven’t even mentioned the number of jobs active oil exploration and extraction would produce in Alaska, Montana, and North Dakota. The job figures for Alaska alone number “almost 55,000.”
The bottom line is that we are sitting on a gold mine folks — “Black gold, Texas Tea” — yet we are living lives of self-imposed impoverishment. Although we have oil supplies sufficient to offset much of the tensions arising in the Middle East (and elsewhere), we’ve chosen instead to be dependent on foreign oil producers who aren’t very trustworthy, to say the least.
Why can’t Democrats who are always touting things like “common sense [gun] regulation” and “common sense financial regulation” remove their partisan blinders long enough to understand that allowing oil companies to drill here and drill now is obviously one of the most common sense actions anyone could take?
It’s time to turn the spigot in Montana, North Dakota, and Alaska’s OCS, thus providing the American people with the peace of mind that comes from relying on American oil for a change.
If we had President Palin we WOULD-!!
The 15% of earth worshipers are holding the rest of the country hostage.
Pray for America
Obama want’s to screw the job creators, and limit the resources available to expand.
He wants to INCREASE THE COST OF BUSINESS through:
- Higher energy prices,
- Higher healthcare costs,
- Higher taxes,
- Increased regulatory restrictions!
Using the above tactics to shut down American business and industry results in more people DEPENDENT ON THE GOVERNMENT!
This is the destruction of capitalism and the American way of life!
In 2007 under the full force of the Bush tax cuts, the Federal Government had the highest level of tax receipts in history.
Lower taxes encourages business expansion and more employment, resulting in more people PAYING taxes and FEWER people needing “entitlements”.
THAT is the America I want!
“Drilling Here, Drilling Now: It’s Just Common Sense”
Of course its commons sense and is good for America....but Obama wants us to be third world country because of his distaste for America.
Cue the libs counter argument-”But it would take 10 years for any of this to get to the pump!!”
They been saying that for 30 years now, it seems. The last time was just a couple years ago when it shot up then.
Drill, baby, drill, build new refineries, employ 100s of thousands or more to drill and refine, watch America rise from the ashes...what’s the prob with that?
Oh yeah... that’s right, that would be the sensible thing to do!
We don’t do that anymore.
:(
The one question that I have never heard answered is, “Why are we doing this?” And...who is benefiting from this policy of importing our oil from the Middle East or South America?
The one thing that I have not heard discussed is the real possibility that Mo will torch the oil production of Libya if he is driven from power. He is living in the dillusion that “his” people love him. I suspect that if push comes to shove he will not leave oil production to the forces that drove him from power.
Then if he does survive, he is going to exact a price for that oil. And the Euros will pay it, especially Italy.
I have been thinking about the release of the Lockerbie mastermind, with the help of BP and the UK Gov. Now we learn that Mo was the real mastermind of the plot.
My question is WHY is BP still allowed to do business in the U.S.? And what possible rationale could this Admin have for refusing to issue emergency drilling permits, opening up ALL drilling in U.S.? Maybe it’s time for the U.S. to become an oil EXPORTER, rather than the opposite.
Always remember that the liberals biggest fear is that there are too many people in the world. They will do whatever they can to reduce the population of the planet, and euthanasia and starvation are viable options to them.
They want to reduce the population of leftists; that's fine with me. Whenever I encourage them to jump off a bridge or some such; they ALWAYS decline.
Un-American activity in the WH.
This is the destruction of capitalism and the American way of life!
or in obama’s words:
“We are just five days away from fundamentally transforming the United States of America!”
. . . and the crowd roared with delight!
http://www.youtube.com/watch?v=xvJJP9AYgqU
obama tells the adoring crowd we are five days away from transforming the United States of America
So just by announcing that we are going to drill on every square inch that might have oil, prices would drop in an attempt to get us not to drill.
“Drilling Here, Drilling Now: It’s Just Common Sense”
It’s not common sense if your intentions are to destroy America and setup your own form of socialism.
If your goal is the destruction of America, it is common sense.
In this case the motivation is malice, not incompetence.
The excuse is drilling now won’t help as the oil won’t be flowing for another five years!
Which means, when the LAST gas cruch hit the same excuse was used to prevent drilling. If we had drilled back then, we would have that oil FLOWING NOW!
I paid $3.87 for regular on Friday.
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