BoomerD
No Lifer
- Feb 26, 2006
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Originally posted by: Queasy
Originally posted by: miketheidiot
Originally posted by: Queasy
Originally posted by: dman
I don't think gas will ever be cheap and plentiful again, barring some 'discovery'. So, in the absence of news to that, I'll continue to try and be conservative, even if the prices drop down a bit in the short term.
As long as we keep blocking off-shore drilling, oil shale development, and places like ANWR, no it won't be cheap and plentiful again.
because there is a HUGE supply of oil in those places relative to current production and know supplies. :disgust:
- Oil Shale Reserves in Colorado, Utah, and Wyoming are estimated at around 1 to 1.5 trillion barrels.
- There was an article just recently stating that there is an estimated 30 billion barrels of oil off the coast of Alaska alone.
- ANWR is estimated at around 10 billion barrels.
- More is yet to be discovered. Example - Brazil recently found two oil deposits off their coast. They immediately jumped on developing these deposits.
I don't really have any problem with drilling for more oil, but then what?
Our refineries are already running at capacity. It's not like they're running out of oil.
If the USA would pass laws that prohibit selling US oil outside the country, AND selling the oil at "fair prices" not at the inflated world market prices, I'd be in favor of drilling more.
What about all the hundreds of thousands of acres of oil leases the oil companies are already sitting on but not drilling? Should they be required to drill those first?
How about the USA nationalizing it's oil industry and taking the massive profits away from the oil companies. If done properly, we could eliminate our national debt pretty quickly.
I worked in and around the oil fields (and oil shale industry) for years in Wyoming, Colorado, and Utah. I can't believe it costs more than $30-$50 per barrel in most oil fields to explore, drill, develop the wellhead, and ship the oil to a refinery.
The rest is pure profit, either for the oil company, or for the speculators who are raping the world.
