ANWR Amendment (Cantwell) DOES NOT PASS

[BladeLWS]

Cantwell amendment HAS NOT PASSED THE SENATE!

[keysguy]

Nuclear could help a lot but the enviro wackos would go absolutely nuts, and today the cost is stratospheric to build a reactor. It's only allowed in france where they get 80% of their power from nuclear.

[cookcounty]

Senator Cantdrill (D-Washington)

[thackney]

Based on their data, we import 10 Million BPD of crude oil and ANWR is slated to produce 1M BPD so ANWR would provide 10% of our current oil usage or as much as many of our major suppliers now provided to us.

Sorry to quibble over details, but the US also produces about 5.4 MPD. So make that 6.5%. But we could reduce imports by 10%. You quote a great resource.

This Week In Petroleum

[Eric in the Ozarks]

Sure it is. I've worked in the oil patch for 25 years. The last thing a refiner wants is another competing refinery. Fewer refineries make the existing plants more valuable.

[Prophet in the wilderness]

In other words, we can compare Alaska to Brazil landmass ?

[Dog Gone]

Do you have a source for that? I'd like to see where we ship Alaskan oil to the wrong side of the Pacific Ocean before sending it to the other side.

[No.6]

"Nuclear could help a lot but the enviro wackos would go absolutely nuts, and today the cost is stratospheric to build a reactor. It's only allowed in france where they get 80% of their power from nuclear."

I care whether environwackos go crazy?

Seriously, enough of this 'we could, but' nonsense. Which party is in charge? Knock down the regulatory barriers to doing what's needed and let's get to it. This is not the time for a gentle hand. There will be no better political climate for getting necessary things done until 2012, and that's assuming we win next Presidential cycle and the one after that.

(I have this pet theory that a newly re-elected President is at the height of his political capital, with the fewest hampering concerns since he doesn't have to think about his own re-election again).

[Truth666]

Oil continues to set all time high AFTER ANWR announcement - now $56.60

[FreedomCalls]

Maybe we can Chevron's largest oil tanker, the 129,000 ton "Condoleezza Rice" up there and fill it up!

In 2001 it was renamed the "Altair Voyager."

[hosepipe]

[ In other words, we can compare Alaska to Brazil landmass ? ]

I suppose..
But ALaska has ALL coastline too.. mostly..
Even the ocean around Alaska is so rich in resources..
Alaska is a golden goose of undeveloped resources..
Get the Feds OUT and America as a while will be richer.. much richer..
Thats WHY the democrats are a'gin it.. Alaskan democrats must be against this quietly, they need to walk the streets in saftey.. They make "mouthings" for development but secretly fight against it.. Instead they work to make any proceeds help to make a socialist state.. As do ALL democrats.. everywhere.. And not a few republicans..

[MeekOneGOP]

Funny. ANWR approval from Congress and on the same day
*NYMEX Crude Oil +2.82% +1.55 56.60. Wouldn't oil be
down on this good news?

[sully777]

Oil continues to set all time high AFTER ANWR announcement - now $56.60

---

Give some time to sink into market's mind.

@ Winter is over in Northeast
@ Supplies are high.
@ The speculators that are reaching the feeding frenzy now are buying into to myth that price will go to $70 while the big boy speculators are selling NOW. Wait a few days for all this to hit the slowpokes. Speculators that are late to the feast will get a beating. IMO, I see price per barrel at $25 by May. And surprise, the price will go up next winter but not anything like we've seen because ANWAR is the first shot across the bow of the speculators.

Other events to result in drop in price for commodity
@ OPEC will overproduce.
@ OPEC will cheat after they agree to not cheat.
@ Libya is in play.
@ Russia needs more money.
@ Iraq (2nd greatest KNOWN reserves) is online.

Events that may shake market.
@ Chavez and Venezuela.
@ Terrorism on the oil market.

[506trooper]

"My liberal colleagues in the neighboring booths are having a fit!!!"LOL

Three weeks ago I got to move to a cube 3 times bigger than my last one, in the middle of what we jokingly call the "red counties" or the "red zone", so I miss that aspect of cube life....I may have to go on a cruise to the other building.....sort of a "gloat trip".

[SlowBoat407]

In the meantime, it's fun to watch the DUmmies implode. I think ANWR for them is right up there with Roe V. Wade. They're sick, they're fuming, they're out of their minds with grief, and they're starting to rend their garments over it.

Oddly, all I feel for them is pity.

[Graycliff]

Add a 1/2 million a day increase from OPEC to that equation.

[k2blader]

Wow! Great!!!

[liberty2004]

Sure it is. I've worked in the oil patch for 25 years. The last thing a refiner wants is another competing refinery. Fewer refineries make the existing plants more valuable.

In a truly Capitalistic system, there would be no restrictions on marketplace entry. Refineries, may wish to restrict entry through political connections, but that is not a failure of the marketplace, but of government. You seem to put the onus on companies, when you should really be putting the blame on government. Enviro nuts and regs definite inhibit development of new refineries. That is again a fault of the government. In an open marketplace, there would definitely be more refineries. The same "stupid" arguments in the past about 100 mile per gallon carburetor always lead fools to think it "big companies" that is the problem. In reality, it is big government. There is no more powerful single force in this land that the massive federal bureaucracy. If we had a country as our Founders intended, you would find companies from time to time petitioning Congress to have "laws" past to favor them. The difference between then and now, is, almost 100% of the time, Companies would be told "too bad, competition is good,.. now get lost." Much of the power that now resides in Washington would be gone if government was limited as our Founders intended.

[angelanddevil2]

Does somebody know how much oil is there in Alaska?. And how much it will last (supposing that the economy grows)?. An estimate on the prices of oil?. Also, as someone in the thread said, what about refineries?.

[Aggie Mama]

Seems a little F'n stupid to me over a 6 month supply of oil.

Six months? Perhaps if we had no other sources of oil, but that will never happen. What this does is give a tremendous shot in the arm to steel companies, and hundreds of other small and large businesses. Do you really think any oil-field related business would get involved if it meant spending 3 yrs of time, talent and money on 6 months worth of oil?

[sodpoodle]

Sends a message to Chavez in Venezuela -yessssssssssssss!!!