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Oil at $300
Human Events ^ | 07/04/2008 | Terry Easton

Posted on 07/04/2008 8:34:15 AM PDT by ChessExpert

You would think that this story is right out of science fiction. But the facts appear to be that the US Democrat-controlled Congress intends to destroy the Republican middle class with $11 per gallon gasoline.


TOPICS: Business/Economy
KEYWORDS: anwr; carbon; congress; democrat; democrats; economics; economy; elections; energy; energyprices; environment; environmentalism; gasprices; green; iran; israel; kerry; kyoto; liberal; nuclear; oil; rockefeller; soros; taxes
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To: arderkrag
You’re buying into this “peak oil” nonsense faaaarrr too easily.

We had our chance, but killed the coal-to-liquid plants, the Superconducting Supercollider, the Apollo moon program, got the 1967 UN Outer Space Treaty to shut down all space development, stopped new and continuing nuke plants, sent the Army to occupy the world's main oil patch; the frog didn't notice the water was getting warmer even though he was told 30 years ago (Jimmah Carter said so and he was right for once but failed to act correctly) and now we still have 30 years of work to do and still haven't ordered the first truckload of steel. It will be expensive and we are already $20 trillion in the hole for no result whatsoever. Great track record.

41 posted on 07/04/2008 9:49:52 AM PDT by RightWhale (I will veto each and every beer)
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To: Scotswife

It sounds like you have water heat, driven by an oil boiler.

May I suggest looking into a modern digital electric boiler? Electric heat is now much cheaper than oil or gas and most states offer an “Off Peak rate” for just pennies per KWH. You can also supplement them with a dual source Wood Boiler that takes the primary load and switches over to Electric when the fire drops below a sustainable level.

I have a system like this, and I only run electric because it allows me to heat 3800 sq.ft. for about $150 per month. I also use it to heat water for showers, etc...

If I tried to use oil for heat, it would cost me around 700 to 800 dollars per month.


42 posted on 07/04/2008 9:50:48 AM PDT by PSYCHO-FREEP (Juan McCain....The lesser of Three Liberals.")
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To: PSYCHO-FREEP
Perhaps you can enlighten me on just exactly how we will drill here now......

Contract the rigs. Bring in ships from the gulf. Lets go. As a 35 year drilling consultant for BP you should know how easy it will be. My husband, who is cooking eggs right behind me, acting as my official drilling consultant, has 35 years in the business, is a Natural Resource Scientist and is an automation specialist for a major oil company. His father worked on drilling rigs for 40 years and my father was a Standard Oil Accountant.

We know we can drill here now. There just has to be the will to do it.

43 posted on 07/04/2008 9:50:54 AM PDT by Zevonismymuse
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To: RightWhale

You know, somehow people heated their homes before, and they will heat their homes again.

If the price gets so high nobody can afford it, then nobody will buy it. If nobody buys it, the people who supply it go bankrupt. Except they don’t want to go bankrupt, so they will lower the price.

Of course, the more government proves they will step in and pay “whatever it takes”, the more likely it is the price will go up. Government subsidies are what is ruining the ability of people to heat their homes.


44 posted on 07/04/2008 9:51:16 AM PDT by CharlesWayneCT
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To: CharlesWayneCT
If the price gets so high nobody can afford it, then nobody will buy it. If nobody buys it, the people who supply it go bankrupt. Except they don’t want to go bankrupt, so they will lower the price. Of course, the more government proves they will step in and pay “whatever it takes”, the more likely it is the price will go up. Government subsidies are what is ruining the ability of people to heat their homes.

Percisely. There's no oil supply problem. the problem is the subsidized, government-based market. If government would get out of the equation, oil prices would go into free-fall mode.
45 posted on 07/04/2008 9:54:17 AM PDT by arderkrag (Libertarian Nutcase (Political Compass Coordinates: 9.00, -2.62 - www.politicalcompass.org))
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To: RightWhale

If you watch the stupid channel “Green Planet”, you will see example after example of people who have all the modern comforts of home, and are completely energy independent.

It costs a bit of money, but three trillion dollars would pretty much do it for 300 million of us (about $10,000 per person). That’s a LOT of money, but about what the government spends in a year.

So while we WON’T make everybody energy-independent, we have the ability to do so, just not the reason to do so.


46 posted on 07/04/2008 9:54:21 AM PDT by CharlesWayneCT
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To: Scotswife

Unfortunately will prove to be a very common story this winter. I am thinking of the family up the road that built an 8000 ft house. They should be putting in insulated partitions so they can heat just a couple rooms and let the rest go to ambient, which could be 50 below.

Plumbing? Drain the pipes. Carry water in buckets like our grandparents did: they did okay.


47 posted on 07/04/2008 9:54:31 AM PDT by RightWhale (I will veto each and every beer)
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To: Zevonismymuse

All that will buy an extra year.


48 posted on 07/04/2008 9:55:55 AM PDT by RightWhale (I will veto each and every beer)
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To: Man50D
Bump! It is becoming increasingly clear do those lucky enough to be educated by something other then the socialist government schools that socialist government is the problem. Two bad both major political parties, plus the MSM are in bed (for thier own reason) with the socialist globalists. And yes the American middle class with it's uppity Constitution have a bull's eye on thier back.

Our ruling elite are envious of the Mexican oligarchy and with to impose the same here. Devaluing our dollar is just another way of stealing middle class wealth.

49 posted on 07/04/2008 9:56:03 AM PDT by jpsb
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To: PSYCHO-FREEP

We don’t need as many rigs, because we have much better technology, so we can do with a lot fewer exploratory holes in the ground.

And if we get to where we really need 2000 more drill platforms, we’ll build them, or come up with something better.


50 posted on 07/04/2008 9:56:20 AM PDT by CharlesWayneCT
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To: CharlesWayneCT

We had 30 years to take care of the problem and the money was spent but with no result. The problem has arrived and we are about to go over the cliff. It was not at all necessary to come to this, but here we are.


51 posted on 07/04/2008 9:59:18 AM PDT by RightWhale (I will veto each and every beer)
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To: Scotswife

You wrap the water pipes, and you can also let them drip but that takes pump energy so you might try electric heat strips.

It’s unfortunate you heat with oil, propane or electric would probably be better.

Our electric rates are going to go up about 20%, which sounds like a lot but not when you realise gas has doubled in price.


52 posted on 07/04/2008 9:59:20 AM PDT by CharlesWayneCT
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To: mtnjimmi
....perhaps they failed elementary school science; animals give off Co2 and plants give off oxygen.

As a carbon-based life-form on this planet, I think is is hate speech for anyone to discuss, in a derogatory way, my exhalation of CO2.

53 posted on 07/04/2008 10:00:53 AM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: ChessExpert

Maxine Waters dream come true. Capitalism will be snuffed out in America.


54 posted on 07/04/2008 10:00:56 AM PDT by Recovering_Democrat (Just say NObama!)
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To: CharlesWayneCT
And if we get to where we really need 2000 more drill platforms, we’ll build them, or come up with something better.

And that's it in a nutshell. It seems like some people around here have forgotten American exceptionalism, our ability to adapt, and have instead become mired in the details of the possibilty of loss and hard economic times.
55 posted on 07/04/2008 10:04:26 AM PDT by arderkrag (Libertarian Nutcase (Political Compass Coordinates: 9.00, -2.62 - www.politicalcompass.org))
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To: Zevonismymuse

You don’t know as much about the oil business as you claim.

To begin with, if you did, you would know about the severe shortage of rigs and equipment. Most every rig in the Republic is already contracted for years to come. You also have no clue about what is involved in leasing a reserve, building production infrastructure or delivering crude for production.

If we could build the needed rigs as fast as possible, it would still take years. As far as simply bringing in ships from the Gulf, what pray tell are those? And do you even know what is remotely involved with drilling with one of those?

Most of the Leases on the Pacific shelf will use submersibles or Jack-ups, which also are in severe short supply and take years to build. Drill ships are strictly for deep water in the 500 to 1000 foot range. They are also very difficult to modify for production and are mostly used for exploratory work.

I will give you this, you certainly can blow smoke, but you picked the wrong leg from which to blow it.


56 posted on 07/04/2008 10:04:38 AM PDT by PSYCHO-FREEP (Juan McCain....The lesser of Three Liberals.")
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To: RightWhale
All that will buy an extra year.

I cited my source; what is yours? I think I am being played here. Are you really serious? Because you are incredibly misinformed about the natural resources we have in the United States.

57 posted on 07/04/2008 10:06:49 AM PDT by Zevonismymuse
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To: RightWhale
Sounds like you ought to take your last few dollars, put some gas in the car, pull it into the garage and shut the door.

We are today with energy where we were in the space program after the Apollo 1 fire. Did we give up? Hell NO!! We walked on the moon on July 20, 1969! This is the United States of America on our 232nd birthday! Quit complaining and DO something. Work you a$$ off to get as many RATS as possible out of office, then work on the RINO's. Nothing comes easy and it sure doesn't come to anyone who doesn't work for it. Instead of spreading doom and gloom, let's start to think of constructive ways we can get out of this mess! /rant off

58 posted on 07/04/2008 10:08:47 AM PDT by anoldafvet (Is this what Obama voters consider change. A change of position on every issue.)
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To: CharlesWayneCT

Exploratory wells are only one in every thousand production wells drilled. We still need the number of rigs to step up production. Technology has had very little effect on that aspect.

Here again, you are trying to tell me all about the business I have been deeply involved in for the last 35 years.

The rigs of today are drilling deeper and harder to get the same amount of oil we did 30 years ago and it isn’t getting any easier. The potential to lose huge amounts of investor capital is every bit as risky today if not more so.


59 posted on 07/04/2008 10:13:12 AM PDT by PSYCHO-FREEP (Juan McCain....The lesser of Three Liberals.")
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To: PSYCHO-FREEP

Your right, its going to take 10-20 years to become energy independent, so we should start yesterday. If there is profit in it we can speed it up and every $$ we keep here is $$ not sent to Achmed and the boys.

If you like $5/gal, Thank Pelosi in Nov.

Pray for W and Our Troops


60 posted on 07/04/2008 10:14:09 AM PDT by bray (Drill Congress!!!)
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