Do you think the US government drilling for oil domestically will reduce prices at the gas pump?
SodaHead Politics
2008/05/28 21:23:06
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45 votes
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17 votes
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29 votes
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Newt Gingrich started a campaign that supports domestic oil drilling. He promises that if we start drilling in the Gulf of Mexico, Northern Alaska, and the Rocky Mountains, it will lower gas prices which will in turn help our economy.
Top Opinion
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Jwalden --- Constitution Party 2008/05/29 15:08:43Yes. Drill here, drill now, and pay less.
+9even if it brings gas prices down 50 cents, it will be better than now. How many other countries are 'Allowed' to drill off of America's coasts? But we cannot drill in the same areas due to Enviromental Laws.
Special interest groups, the oil industry in particular, are what keep us from using renewables. This has been going on since the turn of the 20th century, nearly 100 years now. Imagine if Edison and Ford had their way back when Rockefeller funded prohibition; we would have been using renewable energy this whole time. Renewables are out there and they can be produced in abundance with no foreign input; you want to get off of foreign oil, start growing cattails and use them for sewage treatment. You solve two problems at once; sewage treatment creates an unlimited source of ethanol.
China will have as many cars as us on the road in ab out 2010. If we stop using saudi oil China will have cheap gas.
If China has cheap gas we will have more competition so yes drill but still import. Just a little less.
Additionally, why does a Conoco Phillips prompt come up on this question asking for a password and name?????????
Will More Drilling Mean Cheaper Gas?
By Bryan Walsh
On Wednesday morning President George W. Bush urged Congress to overturn a 26-year ban on offshore oil drilling in the U.S. and open a part of the Arctic National Wildlife Refuge (ANWR) to petroleum exploration. Flanked by the secretaries of Energy and the Interior, Bush also proposed streamlining the construction process for new oil refineries, and explained that these moves would "take pressure off gas prices over time by expanding the amount of American-made oil and gasoline." Coming a day after Republican presumptive presidential nominee John McCain made a similar appeal to enhance domestic oil exploration, Bush was sending an unsubtle election-year message to the American public: I care about the economic toll of $4-a-gallon gas, and Democrats in Congress, who have opposed such an expansion, don't.
But there's a flaw in that logic: even if tomorrow we opened up every square mile of the outer continental shelf to offshore rigs, even if we drilled the entire state of Alaska and pulled new refineries out of thin air, the impact on gas prices would be minimal and delayed at best. A 2004 study by the government's Energy Information Administration (EIA) found that drilling in ANWR would trim the price o...'""'""
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Will More Drilling Mean Cheaper Gas?
By Bryan Walsh
On Wednesday morning President George W. Bush urged Congress to overturn a 26-year ban on offshore oil drilling in the U.S. and open a part of the Arctic National Wildlife Refuge (ANWR) to petroleum exploration. Flanked by the secretaries of Energy and the Interior, Bush also proposed streamlining the construction process for new oil refineries, and explained that these moves would "take pressure off gas prices over time by expanding the amount of American-made oil and gasoline." Coming a day after Republican presumptive presidential nominee John McCain made a similar appeal to enhance domestic oil exploration, Bush was sending an unsubtle election-year message to the American public: I care about the economic toll of $4-a-gallon gas, and Democrats in Congress, who have opposed such an expansion, don't.
But there's a flaw in that logic: even if tomorrow we opened up every square mile of the outer continental shelf to offshore rigs, even if we drilled the entire state of Alaska and pulled new refineries out of thin air, the impact on gas prices would be minimal and delayed at best. A 2004 study by the government's Energy Information Administration (EIA) found that drilling in ANWR would trim the price of gas by 3.5 cents a gallon by 2027. (If oil prices continue to skyrocket, the savings would be greater, but not by much.) Opening up offshore areas to oil exploration — currently all coastal areas save a section of the Gulf of Mexico are off-limits, thanks to a congressional ban enacted in 1982 and supplemented by an executive order from the first President Bush — might cut the price of gas by 3 to 4 cents a gallon at most, according to the Natural Resources Defense Council. And the relief at the pump, such as it is, wouldn't be immediate — it would take several years, at least, for the oil to begin to flow, which is time enough for increased demand from China, India and the rest of the world to outpace those relatively meager savings. "Right now the price of oil is set on the global market," says Kevin Lindemer, executive managing director of the energy markets group for the research firm Global Insight. President Bush's move "would not have an impact."
The reason is simple: the U.S. has an estimated 3% of global petroleum reserves but consumes 24% of the world's oil. Offshore territories and public lands like ANWR that don't allow drilling may contain up to 75 billion barrels of oil, according to the EIA. That may sound like a lot, but it's not enough to make a significant difference in a world where global oil demand is expected to rise 30% by 2030, to nearly 120 million barrels a day. At best, greatly expanding domestic drilling might eventually lower the proportion of oil the U.S. imports — currently about 60% of its total supply — but petroleum is a global commodity, and the world market would soak up any additional American production. "This is a drop in the bucket," says Gernot Wagner, an economist with the Environmental Defense Fund.
The next question would be, what will the value of the dollar be in 20 years?
Logic has left the building.
refining capabilities, then yes gas and diesel prices will drop. That
is part of the cure. Also need to explore other routes, but local
drilling is very necessary. (And lets KEEP the oil IN America and not
on the world market!)
With McCain saying When he is president he will put through a fast track for 100 Nuclear power plants. Then tax the oil companies more for drilling on federal land and use that money to fund alternative fuel technology research and restore environmental efforts. Especially in the field of Coal to Oil Tech. They are years only away from making that process totally no carbon dioxide into the air. Some say 5 years with federal funding. Just this would put alternative energies on fast track. Could see the US in 10 years be total independent of foreign energy. Which would bring 100's of thousands of jobs here and keep "our" money here. It can happen. So call your Congressman, Senator to pass the energy bill and to allow off shore drilling, then call President Bush and tell him to lift Clinton's executiv...'
With McCain saying When he is president he will put through a fast track for 100 Nuclear power plants. Then tax the oil companies more for drilling on federal land and use that money to fund alternative fuel technology research and restore environmental efforts. Especially in the field of Coal to Oil Tech. They are years only away from making that process totally no carbon dioxide into the air. Some say 5 years with federal funding. Just this would put alternative energies on fast track. Could see the US in 10 years be total independent of foreign energy. Which would bring 100's of thousands of jobs here and keep "our" money here. It can happen. So call your Congressman, Senator to pass the energy bill and to allow off shore drilling, then call President Bush and tell him to lift Clinton's executive order on the ban off shore drilling. Let's get our country back. These politicians have stole are money long enough and have ruin our country. TAKE IT BACK!!
I have a source who was a board member of Exxon for 30+ years saying about just knowing that more oil on the market in the future will drop the price. Also have family in Alaska in the oil business who worked for BP and he said that they found the largest oil basin off the coast of the Northern Slope. Problem is Bush Sr. stopped it from happening, then Clinton till 2020. Why? Saudi Arabia=CASH+DEBT