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To: TigerLikesRooster

That is exactly what is going to happen. In 1986, oil was $26 a barrel, down from $34. The American Oil Industry spent a ton of money to gear up for oil shales. Then Opec dropped the price of crude to $8 per barrel for a year and wiped out the resource plays in the US (and also wiping out a lot of domestic companies.) The will not let us become sufficent unless the American people allow it—i.e. set a floor on crude prices at about $50 per barrel.


28 posted on 06/21/2008 11:36:38 PM PDT by richardtavor (Pray for the peace of Jerusalem in the name of the G-d of Jacob)
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To: richardtavor
The will not let us become sufficent unless the American people allow it—i.e. set a floor on crude prices at about $50 per barrel.

Rather than tax the American taxpayer to spur development, why not offer tax cuts to companies to develop and produce it?

32 posted on 06/21/2008 11:58:44 PM PDT by VeniVidiVici (Be careful! Communist ideas may give you brain cancer.)
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To: richardtavor
"In 1986, oil was $26 a barrel, down from $34. The American Oil Industry spent a ton of money to gear up for oil shales. Then Opec dropped the price of crude to $8 per barrel for a year and wiped out the resource plays in the US (and also wiping out a lot of domestic companies.) They will not let us become sufficient unless the American people allow it..."

I think that's the key.
Except "allow it" should read "force it".

As soon as a presidential candidate, a few governors, and 70-odd percent of the citizenry began to talk seriously about opening our own resources up - arab producers decided that more supply might be a good thing.
A good thing for them.
Somehow, someway, oil price will come down to something we will tolerate and producing states have every reason to believe we would - again - drop our energy efforts as soon as that happened.

What's needed is to open our fields, build refineries, and develop every other viable alternate energy source possible: it would cost tax money and entrepreneurial effort as well, but independence and security are better goals than most others I can think of.

49 posted on 06/22/2008 9:06:47 AM PDT by norton
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