Contact your Congress critters to let them know that you are tired of high gas prices.
Posted on 07/16/2008 12:24:26 PM PDT by bs9021
Oil Woes Simplified
by: Sandy Linczer, July 16, 2008
On July 15, Brian Kennedy and Dr. Bill Koetzle from the Institute for Energy Research (IER) spoke at the Heritage Foundation on America’s energy crisis. They boiled down complicated oil issues into simple fundamental issues of economics that the government seems to be ignoring.
The IER opened a D.C branch a few weeks ago and is a “free market organization that believes that government needs to get out of the way when it comes to energy,” Kennedy said.
A large problem with today’s energy policy is the misdirection of blame, he argues.
“There are 68 million acres that are currently being leased and not being used,” Koetzle said. “And 2 billion acres that the American government is stockpiling. It’s not speculators; it’s the problem of supply and demand.”
Koetzle further explains. “World-wide supply is tight. World-wide demand is growing. It’s common sense to increase supply but we’re not doing that…Frankly, the world has an enormous amount of untapped resources.”
Stateside, a common option thrown around is Arctic National Wildlife Refuge. However, some politicians believe that drilling there would not benefit the U.S.
“When you hear politicians say ‘Oh, ANWR only produces 1.5 million barrel per day, that’s nothing,’ they are wrong,” Kennedy said. “Spare capacity is at 1-1.5 million barrels per day.”
With the oil produced from ANWR, spare capacity would be doubled. When spare capacity is low, gas prices are high. Therefore, the theory goes that as spare capacity increases, prices drop.
Another less tangible problem linked to increased oil prices is the weakened dollar. Moreover, countries world-wide are evolving, enhancing the importance (and cost by association) of oil and energy exponentially....
(Excerpt) Read more at campusreportonline.net ...
“Idle” lease claims based on lack of understanding: Cavaney
http://www.freerepublic.com/focus/f-news/2035201/posts
A great muddle exists in the blog/Internet world. Many unrelated issues run together as if by magic.
>Not surprising, the countries with the most energy-efficient economies are those who import their energy supplies.
>Japan leads the way. It is, after all, birthplace of the Kyoto Protocols for climate change.
Free Clue: "leased" != "productive"
There isn't useable oil under all those 68MM acres.
Contact your Congress critters to let them know that you are tired of high gas prices.
US demand for oil just had a record drop.
Not quite
U.S. Crude Oil and Petroleum Products Product Supplied
http://tonto.eia.doe.gov/dnav/pet/hist/mttupus2m.htm
Look at the late 1979 through the early 1980s.
You mean that the earth is not like a giant water bed of oil, just stab a straw in and draw some out? As i write Nelson of Florida is saying on th Sen.floor,’68 million, Enron loophole, speculators, blah, blah, blah.’
“simple fundamental issues of economics that the government seems to be ignoring”????????!?!?!?!?!?!?!?
SEEMS to be ignoring??? Not from what I hear from Pelosi and Reid. (Premium and Regular)
Slime buckets of bull offal Reid and Pelosi are regaling in our pain, hell it’s the Republican areas where people drive cars that are hardest hit.
If the Republicans don’t grow a pair and shove this issue down Reid and Pelosi’s throat, they are worse than useless.
Drill HERE, Drill NOW! Pay less.
You are quoting 4 month old stats?
“U.S. retail gasoline demand plummeted more than 5 percent last week from a year ago as high gasoline prices kept drivers off the road, MasterCard Advisors said.”
Feb 1979 to Feb 1980 - 12% drop
Mar 1979 to Mar 1980 - 10% drop
Aug 1979 to Aug 1980 - 13% drop
Feb 1980 to Feb 1981 - 10% drop
Dec 1980 to Dec 1981 - 10% drop
Jan 1981 to Jan 1982 - 13% drop
5% is even close to a record drop.
5% is NOT even close to a record drop.
Also, first you said oil, now you are comparing gasoline.
For Gasoline instead of Crude Oil:
Jun 1977 to Jun 1978 - 9% drop
Jul 1977 to Jul 1978 - 9% drop
Nov 1977 to Nov 1978 - 9% drop
Dec 1977 to Dec 1978 - 10% drop
Feb 1978 to Feb 1979 - 9% drop
Mar 1978 to Mar 1979 - 11% drop
Aug 1978 to Aug 1979 - 9% drop
U.S. Finished Motor Gasoline Product Supplied
http://tonto.eia.doe.gov/dnav/pet/hist/mgfupus2m.htm
Duh - now you are comparing to embargo years??!?!
You claimed a record drop. Not even close to a record.
Is it only record if you don’t count all those other years?
“Even through the Fourth of July weekend — a time when Americans traditionally get on the road — gasoline consumption dropped 3.3% from last year to 9.347 million barrels a day, according to weekly data released by the federal Energy Information Administration. For the first week of July, that is the least drivers have used since 2003, when consumption was 9.05 million barrels a day.”
Consumption is the lowest in 5 years?
Sounds like a record drop to me.
Okay, you believe records are only kept for 5 years.
Now I understand.
Yes and the stone age ended because we ran out of stones.
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