Yes, we CAN drill our way out of this

RedState.com ^ | June 19, 2008 | Josh Painter

[MrB]

You can’t reduce your hunger by eating, now can you?

[avacado]

"I've been wondering about this. What's to stop the oil companies in our globalized world from just putting the increased production into the global world oil pool,"

The U.S. government can stop that from happening just as they do not allow current oil from Alaska to be sold on the open market.

[wolf78]

Can you drill your way out of $140 oil? Sure, the price will probably go down to a sustainable level of say $95. Can you drill your way back to $35 oil? I don't think so. For the last 50 years there was roughly one billion Americans and Europeans using all the oil. The next 50 years there will be 3 billion Americans, Asians and Europeans competing for the same oil.

The fact that there is a bubble doesn't mean that the underlying fundamentals driving up the price are an illusion. You can get the bubble to burst, which will bring you back to $95 oil and then the price will continue to rise again. That's just my opinion and I'm not saying one shouldn't drill. Quite the opposite. But I don't believe that drilling is the silver bullet. As American conservatives are economic liberals (in the original meaning of the word, not the progressive/socialist meaning), believing that the state should not hinder enterprise, allowing drilling can be defined as conservative. But I don't believe that the starry-eyed mantra that "we can drill our way out of this" has anything to do with core conservative values. It's one notion out of many, just like others think the best way to cope with this oil crisis is to super-insulate one's house. All valid points, and most like only a combination of many strategies will work. I'm just not one to drink the kool-aid.

Again: My personal opinion (though influenced a lot by T. Boone Pickens.).

[thackney]

Also there is only enough for 3 or 4 years of supply for us.

Where did you find that?

[thackney]

Just as OPEC has manipulated the price for decades by raising and lowering relatively small amounts of production (2~500,000 compared to 85,000,000 total) additional supply by the US will lower prices.

However, the largest importer of oil will be the closest market. Transportation cost come out of the sellers pocket. The oil produced off our coast will be used on our soil.

[bestintxas]

It would be more correct to ask will we ever see $1.50/gal gas again, not $35 oil.

Why? We the public will never see gas prices much lower in spite of oil dropping (and my 35 years of working in oil companies tell me it most certainly will, only a matter of time) as the politicians who are always ont he junt for more revenue will see an opportunity to step up the gasoline taxes in the name of “conservation”.

You can take that to the bank. We will have our pockets picked by the unscrupulous pols.

[Kaslin]

Unfortunately, from reports I’ve heard, it will take 5 to 10 years before the well would be drilled and producing. Also there is only enough for 3 or 4 years of supply for us. There also are apparently areas where the majors have leases where they are permitted to drill where they have not and could if they wanted to. So, what is that all about?

That is one of the lamest excuses the liberals come up with. Stop listening to them

[Kaslin]

Where did you find that?

From the same liberals who tell him that it would take 10 years to get the oil out and produce gas. Remember they have been saying that since 1981

[Species8472]

We can't "HOPE" our way out of this!

[Species8472]

We can't "TAX" our way out of this!

[Species8472]

We can't "LITIGATE" our way out of this!

[Fitzy_888]

Imagine a guy named Url or a women named Tracy. They’ll work on an oil platform off the coast of Virginia or any state. They’ll probably make six figures and have excellent benefits. They might go fishing on the weekend, do some gardening or just have a barbeque. Sounds like a small piece of the American dream and I can see that happening.

=> What I don’t foresee is Url or Tracy attending a hate filled sermon at a Saudi/Egyptian mosque or blaming America for the injustices in their own country.

I’d rather see my money go to Url or Tracy.

[Salvation]

Everyone -- Contact your Congress critters!

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