[Realism]

In any event, capable of producing 250,000 barrels of oil per day and 200 million cubic feet of gas per day.

Thats a lot of oil and gas pumped straight to the U.S., We should see a significant decrease in price in a week or two.... right?

[listenhillary]

When we clear the nuts out of the way, we might see decreases in the future.

Greens Thwart Gasoline Production
By Steven Milloy

http://www.frontpagemag.com/Articles/Read.aspx?GUID=6C2A174B-055C-44B1-B5DB-F30B49860FFC
(snip)
The Sierra Club and the Natural Resources Defense Council, or NRDC, successfully pressured the U.S. Environmental Protection Agency to block ConocoPhillips’ expansion of its Roxana, Ill., gasoline refinery, which processes heavy crude oil from Canada, the Wall Street Journal reported on Monday.

The project would have expanded the volume of Canadian crude processed from 60,000 barrels per day to more than 500,000 barrels a day by 2015. After the Illinois EPA had approved the expansion, the green groups petitioned the federal EPA to block it, alleging ConocoPhillips wasn’t using the best available technology for reducing emissions of sulfur dioxide and nitrogen oxides.

Apparently, the plant’s planned 95 percent reduction in sulfur dioxide emissions and 25 percent reduction in nitrogen oxides wasn’t green enough.

(snip)
Meanwhile, in California, green groups are working through the state attorney general’s office to block the upgrade of the Chevron refinery in the city of Richmond. The $800 million upgrade essentially would expand the useable oil supply by permitting the refinery to process lower-quality, less-expensive crude oil.

[MNJohnnie]

Nope because on the world market it is a drop in the bucket. But if we would quit dicking around and increase US production by millions of barrels a day, you would see the price drop.

I see on a number of threads you are desperately clinging to your personal political dogmas rather then learning anything about Energy production. This link will help. Read it.

http://en.wikipedia.org/wiki/Supply_and_demand

The problem here is Supply and Demand. All the various things you seem to think at work here (speculators, price gouging etc) are only possible in a market that suffers from inelasity of both supply and demand. Speculators can only speculate on the trend line. The trend line in Oil is for increasing demand and flat supply. Currently we are not doing anything to produce any significant change in that equation. Lifting the ban on various US Domestic Production would send a signal to the market that we are serious about increasing production.

So we have two choice. Significantly reduce our standard of living so we do not Demand so much energy. Significantly increase the production of Energy to meet our demands.

[thackney]

Eventually capable is not the same as current production. There are quite a few wells left to drill on this platform.

They are only starting the first production. They don’t wait until every well is drilled to get started.