$5/gallon Gas - There Goes the Economy

My take on this wrote:

Wendell, you do realize that the Obama administration is 100% responsible for granting off-shore drilling permits for both deep water and shallow water. He's been dragging his feet on granting permits for well over a year. In these times of accelerating crude oil prices, he should be fast tracking permits. Again, this is another job creator.

If there is a diminishing resource which you can currently purchase from another supplier for relatively cheap prices, it would be stupid to extract your own resources until you absolutely need it for yourself or can get top dollar on the open market.

Let's say we have a 30 year supply in oil reserves. Do you really want to tap it now, or should we wait until the Middle East is depleted?

I've got trees on my property. I could cut them down to make lumber for my own use, but why should I do that when I can get 2x4x8 lumber at home depot for very cheap prices currently? Nope, I'll only use those logs when the price of acquiring lumber is much higher.

You like Obama? Why don't you start paying my $5000 deductible for health care and see how you like it. It's not about race, age, or gender...he's an idiot and he's running this country into the ground. My neighbor's said the same thing as you, and now they hate him after all the lies. Good luck with your buddy as all this dancing and singing crap is a waste of time during these trying times, while common folk are struggling.

And his reason for stopping Keystone? You don't have to ever worry about being thought of as intelligent pal because it won't ever happen. The blind leading the blind.

If our country waits until the Middle East depletes their crude, we will be fuk'd, if we didn't take steps long before that scenario happens. Our problem is two-pronged:

Main points:

Oil shales: Oil extracted from shale fields represents the mother lode of untapped reserves, at about 1.5 trillion barrels -- or ,200 years worth of supply at current usage levels. Roughly two-thirds of the U.S.'s oil shale fields in Colorado, Wyoming and Utah are in federally-protected areas and closed to development. In addition, getting the oil out of the rock is a challenge, requiring cooking or chemical treatment of rock located as much as half a mile under the earth's surface.

To make oil shale production economically worthwhile, crude oil prices must remain above $50 a barrel for a protracted period. Given the outlook for continued high prices, oil companies such as ExxonMobil, Royal Dutch Shell Inc., EGL Resources, Brazil's Petrobras and others are gearing up pilot projects on nonfederal lands. The potential is to produce 1 million barrels of oil a day within a decade from lands currently open -- and several times that amount if the lawmakers give the green light to development of lands now off-limits.

Tar sands: Around 75 billion barrels of oil could come from tar sands, similar to Canadian fields, which now churn out a million barrels a day. The sands are located predominantly in Utah, Alaska, Texas and California, as well as in Alabama and Kentucky on federal and state lands that, by laws and administrative orders, are closed to mineral and petroleum development.

The Bakken Play: With up to 100 billion barrels of oil, the reserves locked under rocks buried a mile or more beneath Montana and Saskatchewan, Canada, are more than twice the size of Alaskan's entire oil cache. New drilling and oil recovery technologies are overcoming production obstacles and petroleum companies are rushing to stake their claims. Marathon Oil recently acquired about 200,000 acres in the area and will drill about 300 oil wells within five years. Brigham Exploration and Crescent Point Energy Trust also want a piece of the action. EOG Resources alone figures it can produce 80 million barrels of oil from its Bakken field. But It will take at least five years before the oil starts flowing in large volumes.

The Alaska National Wildlife Refuge: About 10 billion barrels of oil are locked away here, with little possibility that federal lawmakers will open the door.

The time to act is NOW, not when the Middle East depletes.

I wish I had another planet to live on...

This clown has the enviroNazis so far up his ass that he wouldn't dare increase domestic drilling. Anyone who casts their vote to re-elect this idiot needs their head examined.

Here is Obama's energy policy:

1. Stop drilling in the Gulf - Import more OPEC Oil

2. Stop the Canadian Oil Pipeline - Import more OPEC Oil.

3. Waste taxpayer money on follies like Solyndra - Import more OPEC Oil.

4. Stop the use of American Coal - Import more OPEC Oil.

5. Stop the use of American mined Uranium for Nuclear Power - Import more OPEC Oil.

GREAT JOB Barry!

Obama and rest of the flat earth crowd have said every year "It will take 10 years from now to really see a difference". Eventually you have to put a pipe in the ground. He makes absolutely no sense. If he continues to think windmills and solar panels are the answer, we are dead.

Obama is not an idiot, he speaks to people he thinks are idiots for falling for this nonsense. Alternative energy? What, have a wind mill prop on your car? How about a 10' solar panel mounted on the roof of a Honda? Oh I get it, tow a 1000lb. tank of natural gas behind a Jetta. People need to get serious with how ridiculous this liberal in the white house really is.

With 100's of millions of cars on U.S. roads and 10's of thousands sold everyday, exactly what is the next several generations suppose to do other than head to the pump? Obama needs to get real instead of ducking behind idiotic energy speeches. Want to see the gallon of gas price drop almost overnight? Unrestrict drilling, open up S. Dakota & call Canada and tell them you changed your mind about the Keystone deal.

Our Community Organizer in Chief is clearly more interested in trading food stamps and unemployment benefits for votes rather than real tax incentives and a energy policy geared for an economy that still requires fossil fuels - not solar, not wind.

Drill Baby Drill wrote:

The time to act is NOW, not when the Middle East depletes.

Only about 16% of our oil comes from the Middle-East.

Les Myles wrote:

The Left attacked Bush when the price of a gallon of gas hit $3.05/gallon. Nancy Pelosi even called a press conference that was happily reported on by the liberal media that said Bush's failure was due to the lack of an effective energy policy.

http://lonelyconservative.com/2011/02/hey-remember-when-nancy-pelosi-blamed-george-bush-for-high-gas-prices/

Where's the outrage from Pelosi and those in the media now? Nowhere! That's because Pelosi and the leftist media care nothing about the price of gas and only on getting their guy elected so he can shove more failed, liberal ideology down the throats of the American public.

The hypocrisy makes me sick!

And how is this different from the GOP? Answer: Not at all.

Both parties are the same.

Unplug yourself from the Matrix.

If you can guarantee me $1.50 a gallon gas prices, thay can start drilling in my back yard today.

No, you are wrong and the proof is in the pudding...if you can read and comprehend. All politicians lie, but he left makes a living at it.

that's "THE LEFT"...capitals intended.

mellon wrote:

If you can guarantee me $1.50 a gallon gas prices, thay can start drilling in my back yard today.

Recipe for cancer my friend, recipe for cancer.

Liberals all claim to be so forward-thinking. Yet their reasoning for not expanding oil exploration or building new refineries is always a whine of "that won't do anything about prices TODAY, it won't be ready for YEARS."

If, during Clinton's term, drilling had been allowed in the tiny barren mudhole that is the relevant section of the Alaska National Wildlife Refuge, we'd have had that oil FOR YEARS now. If Obama hadn't blocked all permits in the Gulf two years ago (mostly just to divert attention from his failure to act sooner on the BP spill) some of those would be starting to produce THIS YEAR. If the Keystone Pipeline were approved last year (instead of having to wait on a president with some balls) it would be bringing oil to us just TWO years from now, instead of three or four.

Democrats, how about planning ahead for a change? We can still work on developing cars that run on sunshine, and power plants that make electricity from mouse farts, and some day we'll have them. But for now, and FOR THE FORESEEABLE FUTURE, we still need OIL.

random a hole wrote:

Steve Martin wrote:

Wow, you sure missed the point totally.

No, I got it. Deep as the kiddie pool.

However, I do admire your optimism (should we call it faith) that any of this crop of Republicans has a chance. I honestly wish that party had put up a candidate I could consider. Maybe it is the whole primary process (appealing to loonies on the far right) that makes them unelectable in the general election. Too bad. I actually think Mitt was a reasonable moderate governor, but now that is a bad thing so he runs away from that as if it never happened.

Hey, A-hole. I never even mentioned any of the candidates from 2012. I merely mentioned the next president. That could happen in 2012 or in 2016.

Now do you care to respond properly?

Just because this oil is extracted in the US does not mean the US have rights to all of it. It's brought to the open market and sold to the highest bidder. People act as if the Keystone Pipeline was going to give the US some huge increase in the supply of oil but really all it's doing is increasing GLOBAL supply, while putting our environment at risk.

Again, if that was such a great idea, why didn't it happen when the GOP controlled the presidency and both houses of Congress?

It's easy to blame the left, but if it was such a great idea, they should have pushed it through, right?

Democrats ran the Senate from 2001-2002 and both the House and Senate from 2007 - 2009. And they were radically opposed to expanding energy production.

Per the non-partisan group, the Institute for Energy Research (instituteforenergyresearch.org):

oil production on private and state lands jumped by 14 percent during the last fiscal year. Production on federal lands, meanwhile, dropped by 11 percent. Whereas in 2000, federal lands were responsible for 32 percent of total oil production, that figure dropped to 19 percent in 2010. This trend is almost certain to continue given that the Obama Administration’s draft five-year drilling plan prohibits offshore drilling in new areas, and only allows lease sales to occur in areas that are already open.

Thanks, Barry