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To: Just mythoughts; panthermom
Since both of you are so intent on the extremely temporary solution of drilling for more oil, would you both be so kind as to explain to me the following:

What effect would an additional 1-2 million BPD of US production have on an oil market that currently is sees demand at 86 million BPD and rising?

If the US currently has 4% of global proven reserves - approximately 21 billion barrels, how long can it continue to produce approximately 7.5 million BPD assuming consumption neither increases nor decreases? What is the time period if it pumps 2 million more bpd?

If you figure these things out, you might rethink your position. I will make a bet though - you won't bother. Keeping with the saying, "you can't reason a (wo)man out of something he wasn't reasoned into", you can keep believing your myths, but they are myths nevertheless.

47 posted on 04/07/2008 7:43:07 AM PDT by Einigkeit_Recht_Freiheit (Bomb Liechtenstein!)
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To: Einigkeit_Recht_Freiheit
What effect would an additional 1-2 million BPD of US production have on an oil market that currently is sees demand at 86 million BPD and rising?

Quite a big effect probably. Prices are set at the margin and the addition of a couple million barrels to the market would have an impact far beyond its percentage of the total.

53 posted on 04/07/2008 9:00:57 AM PDT by BfloGuy (It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect . . .)
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