Posted on 08/16/2008 10:52:36 AM PDT by kellynla
It will increase the net supply in the marketplace. It turns out that contrary to popular myth, over 95% of Alaskan oil is used right here in the US and not "shipped to Japan" or some other paranoid plot. The effect on the world market of new oil being produced and consumed here is that we buy less "out there," thus lowering demand and softening the price the Opeckers et al. can command.
Everybody pays the hostile varmints less for their oil, and we get the oil we need without sending (potentially) hundreds of billions of dollars abroad.
Nope, they’ll cut back on their production of Oil to keep prices where they want it.
Actually, the about 5% of Alaskan North Slope Oil shipped to Asia was only from 1996 to 2000. Prior to that it was illegal to export. The ban was removed due to a glut of oil on the West Coast at the time. But since June 2000, 100% of the Alaskan North Slope Oil remains in the US.
It already has partly on the influence of "Drill here. drill now" om Oil Futures. Oil futuures get increasingly risky because no one knows which member of OPEC is gonna break first and start pumping more oil in order to undercut the "drill here, drill now" political movement. This is excellent.
Of course we need to drill, and the sooner the present law sunsets, and a leasing process is begun, which is BONA FIDE, and not a way to nickle and dime the Oil Companies, or to allow China invasion platforms just off our coast, I am all for it!!!
Oil companies will drill where it is most profitable for them. If it is cheaper to drill overseas than in the US, the oil companies will drill overseas first.
The environuts can prevent drilling for years as they glut the courts with lawsuits challenging each and every well.
Where will new raw oil be refined ? Again environuts through the EPA and courts have another effective tool to delay new oil production. In retrospect, it may have been easier to land a man on the moon than it will to be gain energy independence for the US.
Oh, hardly unclear: the next thing is that the oil companies would show up at Congress hat-in-hand and lobby for a drilling subsidy.
“If Congress Lifts the Offshore Oil Drilling Moratorium, What Happens Next?”
10,000 lawsuits by Environazis. Liberal judges overule the people. Democracy? We don’t need no stinkin’ democracy. We’re liberals.
Uhhh...try Billions upon billions of dollars are routed from offshore accounts that are quite possibly supporting terrorist activities to onshore accounts that support creating jobs. For every land based oil well, imagine about 40-60 supporting jobs associated to planning, construction and continued maintenance. For every offshore oil well, imagine about 300 new jobs. For every nuclear power plant there's 1,000. Suddenly there's a boom in the number of middle-class income Americans. Billions of Petro-dollars reverse course and flow into our nation, into our infrastructure and economy. Investors make loads of ROI, and roll that into continued future speculation/projects. A new American renaissance begins based on fuel production.
Nah...this scenario wouldn't lead to our destruction and the creation of a socialist state. Democrats won't let it happen...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.