|
Offshore oil ban lift |
Post Reply 
|
Page 12> |
| Author | ||
WGP guy2 
Platinum Member 
I play the Bag Pipes Joined: 23 September 2005 Location: 17h 45m 40.04s Status: Offline Points: 2585 |
 Post Options
 Thanks(0)
 Quote Reply
 Topic: Offshore oil ban liftPosted: 14 July 2008 at 2:01pm |
|
|
http://www.msnbc.msn.com/id/25674571/
Certainly a good thing if congress backs it. Even if they start discussing it positively I think we'll see a drop in oil prices. |
||
 |
||
|
carl_the_sniper
Platinum Member
Strike 1 - 7/29, Bad Linky Joined: 08 April 2006 Location: Canada Status: Offline Points: 11259 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:05pm |
|
|
I believe that having oil is not the problem, lack of refineries are the problem.
Could be wrong though. |
||
|
<just say no to unnecessarily sexualized sigs>
|
||
|
||
|
Benjichang
Moderator Group 
I pwned Leroy Jenkins! Joined: 03 January 2004 Location: Ohiya Status: Offline Points: 12618 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:12pm |
|
|
I remember seeing something like this will drop prices by $.02. In 25 years. Can't back that up right now though.
|
||
 irc.esper.net #paintball |
||
|
||
|
Zata
Moderator Group
Joined: 07 April 2008 Location: Michigan Status: Offline Points: 1407 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:13pm |
|
I'll be looking forward to that. |
||
|
||
|
PaiNTbALLfReNzY
Platinum Member
Arsenal FC Fan Joined: 07 July 2002 Location: Maryland Status: Offline Points: 3807 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:47pm |
|
|
Isn't there some magic refinery China patented that converts coal into oil? It has effects on the environment, but their gas dropped to like 1.50 a gallon or something. We have more coal than China too, so imagine what out prices would be if we got some of those refineries.
|
||
|
||
|
Dune
Platinum Member
<placeholder> Joined: 05 February 2004 Status: Offline Points: 4347 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:47pm |
|
|
Yeah, the whole "its a supply and demand issue" goes right out the window. It is so much more complicated than just more drilling. However, it is a bank by the government that the public is stupid enough to believe it would be good. |
||
|
||
|
blackdog144
Platinum Member
Joined: 23 June 2005 Location: United States Status: Offline Points: 3786 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:51pm |
|
|
either way, i think we need to start drilling offshore...who knows what would happen to prices.
|
||
 
|
||
|
||
|
Dune
Platinum Member
<placeholder> Joined: 05 February 2004 Status: Offline Points: 4347 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:52pm |
|
|
The analysts have a pretty good guess. Which is why they say we won't see a price drop because of it. However, it works to increase our dependence on oil. Maybe not foreign oil, but still oil. Edited by Dune - 14 July 2008 at 2:52pm |
||
|
||
|
PaiNTbALLfReNzY
Platinum Member
Arsenal FC Fan Joined: 07 July 2002 Location: Maryland Status: Offline Points: 3807 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 2:59pm |
|
Found that, pretty interesting to think we could get oil down to $35 per barrell. Edited by PaiNTbALLfReNzY - 14 July 2008 at 3:01pm |
||
|
||
|
WGP guy2
Platinum Member
I play the Bag Pipes Joined: 23 September 2005 Location: 17h 45m 40.04s Status: Offline Points: 2585 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:19pm |
|
Explain it then please. I'm interested in learning more. |
||
|
||
|
Da Hui
Platinum Member
Guested, 9/13 Inappropiate post content Joined: 06 August 2005 Location: United States Status: Offline Points: 8442 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:23pm |
|
|
Dune, did I misread your post or did you just say something to the effect of "supply and demand does not matter" in relation to gas prices?
|
||
|
||
|
||
|
Benjichang
Moderator Group
I pwned Leroy Jenkins! Joined: 03 January 2004 Location: Ohiya Status: Offline Points: 12618 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:25pm |
|
|
I would agree that it isn't a supply and demand issue, since OPEC keeps saying that there is more than enough supply to meet current demand. But I am not learned in economics.
|
||
|
irc.esper.net #paintball |
||
|
||
|
jmac3
Moderator Group
Official Box Hoister Joined: 28 June 2004 Status: Offline Points: 9204 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:27pm |
|
|
PROFITS!
|
||
|
Que pasa?
|
||
|
||
|
Dune
Platinum Member
<placeholder> Joined: 05 February 2004 Status: Offline Points: 4347 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:32pm |
|
|
I'm not saying supply and demand have no effect. However, as demand has actually dropped in the US by 5% with no effect on oil prices (which any large country dropping demand tends to lower world prices in an international market), there is more to it. The weak dollar has brought in investors hedging their investments within oil companies, boosting prices. Speculation is also a large possibility, as claiming prices will be over a certain amount can be a self-fufilling prophecy for international markets. In addition, OPEC has their little game they like to play. Calling it supply vs. demand paints a black and white picture which it is not. Demand in China is definitely up, but drilling in the US will not produce enough barrels to drop prices by tomorrow. Like I stated, it may help to reduce our dependence on foreign oil, but will not increase supply to match domestic demand and level off or reduce our prices significantly. Edited by Dune - 14 July 2008 at 3:33pm |
||
|
||
|
brihard
Platinum Member
Strike 1 - Making stuff up Joined: 05 September 2004 Location: Canada Status: Offline Points: 10155 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:47pm |
|
|
You guys missed Carl saying something smart. He is correct in identifying that refining capacity is part of the current fuel price crisis. All the oil in the world does you no good until it is rendered into usable distillate products.
|
||
|
"Abortion is not "choice" in America. It is forced and the democrats are behind it, with the goal of eugenics at its foundation."
-FreeEnterprise, 21 April 2011. Yup, he actually said that. |
||
|
||
|
Dune
Platinum Member
<placeholder> Joined: 05 February 2004 Status: Offline Points: 4347 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 3:54pm |
|
|
Definitely true. Although I definitely do not know enough about refinery capabilities and technology. |
||
|
||
|
cdacda13
Platinum Member
Yes, spelled secual. Joined: 12 September 2004 Location: United States Status: Offline Points: 7951 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 4:12pm |
|
Nailed it! |
||
|
||
|
Mack
Moderator Group
Has no impulse! control Joined: 13 January 2004 Location: 2nd Circle Status: Offline Points: 9906 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 5:15pm |
|
The last refinery in the U.S was completed more than a quarter of a century in the past. No new ones have come on line since then. (No, I don't have a citation for this. It is an obscure fact that apparently stuck in my mind from a business class. At the time, the number was 26 years since we had a new refinery; since this was a while ago, it is probably more than that now.) |
||
|
||
|
||
|
t_hop
Member 
Streike 1, 5/16 filter dodge/inapp. link Joined: 19 March 2008 Location: United States Status: Offline Points: 582 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 5:19pm |
|
|
One of the biggest problems are the idiotic people that won't let us drill in places like remote Alaska or anywhere else in our direct domain. WHY? why can't we drill in these places so close to home? because it will kill a frog. And I don't have the facts down perfectly but I have heard that the oil companies are only drilling on a fraction of the land that the government has granted them to drill on. whats up with that?
Edited by t_hop - 14 July 2008 at 5:21pm |
||
|
"I'm here to kick ass and chew bubblegum, and I'm all out of bubblegum."
|
||
|
||
|
pntbl freak
Moderator Group
Wanna do something about it? Well do ya? Joined: 16 June 2002 Location: My Hiding Spot! Status: Offline Points: 9212 |
Post Options
Thanks(0)
Quote Reply
Posted: 14 July 2008 at 6:50pm |
|
|
Oil refineries right now are running at capacity so getting more oil to them wont lower any prices. The biggest thing right now that would help lower prices would be a government cut on gas taxes. For each gallon you purchase the government takes around a $1.00 of the $4.00 you are paying.
Edited by pntbl freak - 14 July 2008 at 6:50pm |
||
 |
||
|
||
|
Post Reply
|
Page 12> |
Tweet
|
| Forum Jump | Forum Permissions You cannot post new topics in this forum You cannot reply to topics in this forum You cannot delete your posts in this forum You cannot edit your posts in this forum You cannot create polls in this forum You cannot vote in polls in this forum |
Topic Options
Benjichang wrote: