Re: Obama Says Off-Shore Oil Drilling won't lower gas prices for at best, 5 Years

<milt.shook@gmail.com> wrote in message
news:a2811b0d-c14e-4f86-a346-c08cfca73f96@27g2000hsf.googlegroups.com...
> On Jun 18, 11:11 pm, Touchy, Surly John McCain <n...@spamm.com> wrote:
>> In article <eyj6k.5896$N87.5...@nlpi068.nbdc.sbc.com>,
>> USA_Patr...@Somewhere.com says...
>>
>> > Put ALL energy solutions on the table......
>>
>> > Now watch this lib run away wetting his panties.....
>>
>> > "Balanced View" <N...@nill.net> wrote in message
>> >news:g3cf7e$94u$2@aioe.org...
>> > > MioMyo wrote:
>> > >> "carlos" <carlosmach...@gmail.com> wrote in
message
>> >
>>news:a1a76bad-2a0a-4b42-905f-a7b4657c219d@s21g2000prm.googlegroups.com...
>>
>> > >>> On Jun 18, 6:08 pm, "MioMyo"
<USA_Patr...@Somewhere.com> wrote:
>>
>> > >>>> Better start right away then. Just think if Clinton had
signed the
>> > >>>> legislation passed in the 90s, we'd be receiving the
relief today
>> > >>>> from
>> > >>>> ANWR
>> > >>>> oil......
>>
>> > >>> Hello,
>>
>> > >>> Yeah, we might be getting a couple of dollars off the $135 or
so
>> > >>> per
>> > >>> barrel current price and a couple of cents off the price at
the
>> > >>> pump,
>> > >>> but we'd be running out of that oil pretty soon.  What then?
>>
>> > >> You're a moron lib.....
>>
>> > >> There's off-shore, there's domestic and there's nuclear....
>>
>> > > Offshore drilling was banned by Bush 1, look it up.......and
>> > > republicans
>> > > voted against new reactors
>>
>> We could lower the price of gasoline buy simply using less of it. The
>> lower demand would force prices down. But Republicans can't promote
>> anything that would reduce the sales of their largest campaign
>> contributors,
>> the oil companies. Things have been going really well for Exxon, but not
>> for average Americans. Coincidence?
>
> We could lower the price of gasoline by re-regulating the commodities
> market. make all of these speculators take delivery of what they
> promise to buy, and you'll see the barrel price drop by $40-50
> overnight. Boost the dollar back up to 2002 levels, and it'll from
> below $70.

I'm sure that the Dubai exchange will have a commodities trading floor up in
a matter of days -- with luxury accomodations.
>
> The current run up has NOTHING to do with the supply of oil. if that
> were the case, then why are so many of the wells in the US still
> capped?

Because each well has variables that determine the ROI of the project. The
quality of the crude, the proven reserves, the cost to produce a barrel, and
the cost of transportation to market. If the well can make good money at
$130, you can bet that its currently open, or will be soon.

JG
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Poster (19.06.2008 20:25)