DoE: Offshore Drilling No Significant Impact Before 2030!!!

[Knightskye]

http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr.html

God, these politicians, I tell ya. :rolleyes:

The Democrats want to tax oil company profits.
The Republicans want to drill for 22 years without any significant result.

Republicrats!

[newbitech]

they are just saying to drill to make people think they are solving problems now. they aren't talking about doing anything that will have an immediate impact. such ridiculous pandering, yet people will likely think that that this is the best we can do.

[UtahApocalypse]

shhh quit spouting facts as if that is news !!

:roll:

[Truth Warrior]

Open the bicycle franchise outlets! Good exercise AND lose weight! :D

[New York For Paul]

They have extra oil drilling platforms that are made in asia that can be leased and in place in about a year. It would take about another year or two to get the oil up.

So in two in a half years we can have new oil production offshore.

Further with the oil futures, contracts that are for long term delivery will start to drop in price as speculators and market makers price in the future increased offshore production.

So prices could fall in about a year.

[newyearsrevolution08]

Americans are stupid and need to WAKE UP

[weslinder]

Did you read the article? It says that assuming that the moratorium is not renewed in 2012, they could begin getting oil and gas in 2017. In other words, if we lift the moratorium now, we can get oil and gas in 2013.

[Knightskye]

Did you read the article? It says that assuming that the moratorium is not renewed in 2012, they could begin getting oil and gas in 2017. In other words, if we lift the moratorium now, we can get oil and gas in 2013.

I think it will be kept in place, because of the Democratic majority, and the very likely influx of Democrats this November.

[born2drv]

I've got an idea.... tell the oil companies they can drill where ever they want and as quickly as they want... and they'll have their windfall profits taxed until they do.

I bet they get that oil out of the ground mighty quick :D

(j/k of course... kind of....)

[Truth Warrior]

I've got an idea.... tell the oil companies they can drill where ever they want and as quickly as they want... and they'll have their windfall profits taxed until they do.

I bet they get that oil out of the ground mighty quick :D

(j/k of course... kind of....)Corporations don't pay ANY taxes. The customers pay them ALL!

[Knightskye]

They have extra oil drilling platforms that are made in asia that can be leased and in place in about a year. It would take about another year or two to get the oil up.

So in two in a half years we can have new oil production offshore.

Further with the oil futures, contracts that are for long term delivery will start to drop in price as speculators and market makers price in the future increased offshore production.

So prices could fall in about a year.

So, we buy our oil from the Middle East, but we don't get oil platforms from Asia? The hell is this? :mad:

[driller80545]

Why would more drilling lower the cost of a barrel of oil? There is no shortage. There are no lines at the pumps or "out of gas signs" posted.
All this will do is secure the future of Bush's cronies.
Would all that investment be better spent developing alternatives?

[libertarian4321]

Why would more drilling lower the cost of a barrel of oil? There is no shortage. There are no lines at the pumps or "out of gas signs" posted.
All this will do is secure the future of Bush's cronies.
Would all that investment be better spent developing alternatives?

Supply and demand drive prices. You don't need "no gas here" signs on pumps across the country to have less than ideal supply.

Increase the supply and prices will drop (assuming demand remains the same).

Its just like any other item for sale, when you have more people chasing less product, the price goes up.

The USA will be just about the LAST place you'll see "no gas" signs, because we have money- poor nations, where people don't have the money to pay $10/gallon (or whatever) will be the first to get "cut off."

BTW, the high price has caused occasional "no gas here" signs in the USA- the gas has gotten so expensive, that some small retailers haven't been able to pay for deliveries and have had to shut down. Its not common, yet, but it does happen.