U.S. reserves are less than 3% of the global reserves. Energy prices are set by the global market, and we don't have enough to affect the global price. And unlike many oil rich countries, our oil industry isn't nationalized with fixed prices domestically.. This means when the U.S. companies drill, they sell for the highest ';global'; price. They are not going to sell to Americans on the cheap just to lower the price at home. They're in business to make a profit, not to help the average American out by artificially lowering prices and losing profits for their shareholders. Anyone who thinks otherwise has their head in the clouds with these new drilling proposals.
So I think this whole ';drill at home'; drive these days is a farce. It won't change a thing price-wise. We are simply too small a player in the global market. The oil companies will make billions though.
Link to CIA Report on Global Reserves.
https://www.cia.gov/library/publications鈥?/a>Exactly How will drilling Off Shore and in ANWAR Lower the price of Gas %26amp; Our Dependence on Mid East Oil?
If the oil companies were in a hurry to drill in places like ANWR, then the Point Thomson fields would have been drilled already. As things stand Exxon, Connoco-Phillips, Chevron and BP haven't drilled a well there since 1982, and they have no production wells whatsoever despite there being proven reserves of 500 million barrels of oil and trillions of cubic feet of natural gas.
Point Thomson's leases are immediately adjacent to ANWR on Alaska's North Slope, and like we can expect with ANWR they contain more natural gas than oil.
They are content to lease the land for 3 dollars an acre and sit on it so nobody else can drill on that land, but Exxon would rather drill off the coast of Angola in shallow water where their production costs are lower and where they can extract medium light crude at reasonable prices.
Politicians are full of it. One of the problems in Alaska, for example, is that it gets really cold, and this makes extracting oil and moving it across pipelines cost prohibitive most of the year, and that's why the consortium sitting on Point Thomson leases would rather not drill there at the moment and haven't managed to drill a single production well in the vicinity of ANWR since oil was discovered there in 1977.
Meanwhile, if you do look at where drilling is going on (e.g. Wyoming) in the US these days, you will find a path of environmental devastation that is a lot different than the rosey picture painted by the oil industry. Que sara, sara.
I just thought I'd interject some honesty and integrity into this discussion.Exactly How will drilling Off Shore and in ANWAR Lower the price of Gas %26amp; Our Dependence on Mid East Oil?
well the way the market works is called supply and demand, for example if you want to buy 10 gallons of gas and a friend wants to by ten gallons of gas (20 all together) i the Big bad oil company have produced 18 gallons i can charge a higher price because both of you want more than there is ( or need more) but if i have 20gallons and my compete has 20 gallons i have to try to get both of you to by my gas and one way is to lower the price
it isn't.more pandering by mc cain.if we were to start drilling today gas prices will not be effected or 20 yrs and when they do it will only be a 17cent difference.
oil analysts say that if congress were to stop speculators we would cut gas prices in half in 30 days.
there is no oil shortage oil refineries in the us are running at 80% ccapacity.
Your gas prices in America are artificially raised anyway.There is no less oil being pumped today than 10 years ago.There is no less ships docking at your oil ports than 10 years ago.McCain will help finish you off.We have your money and we will beat you when your economy crashes.Please I beg you All Americans.Stand with your Muslim brothers and sisters.Vote for John McCain.
Do you have a better proposal ? time will make the difference in gas prices . and if it takes 5 years or 10 years . our children can only benefit from drilling here in our own country . we Americans are spoiled people we want what we want NOW.. have some patients and look to the future for our children's sake .
Look...if we start now...and if we build some refineries..none built in 35 years...maybe we can start seeing some reliefe in 5 to 10 years...but is like the old adage...If you don't bait your hook and put it in the water...you ain't goning to catch a dang thing..You will be asking the same question 10 years from now...and wondering why gas is $20.00 a gallon...tagger
Estimates show that if ANWAR's peak capacity is drilled, It would take about 10 years time; With a resultant reduction in domestic gas prices of no more than 3 cents a gallon.
As opposed to the way our war of choice in Iraq has resulted in a $2.40 a gallon increase in just 5 years...
I've heard that if we drill off shore it will be at least 10 years before we see any production, so the answer is no. Because in 10 years, only the wealthy will be able to afford cars and gas, which will probably be $20 a gallon.
So, your solution is to bend over with a jar of Vaseline in your hand?
If you don't have a solution, butt out.
Better, emigrate to Canada where they tolerate weasels.
Where in the world are you coming from? Before you ask another question, be sure you know what you're talking about. Confused, confused, confused.
Honestly it wont help us out right now it will several years before we see a drop of that oil. The problem is that it will take time for them to get setup to drill and the logistics etc.
Well I heard on the news there will be no real immediate effect of the lowering of gas prices.
They say the offshore drilling will effect the prices in some years ahead.
It won't do anything. It's just more of the same Republican/Conservative drivel and misinformation. They really need to get after these speculators.
Your an idiot. Get your facts straight.
Do more research dude.....
More than that is the idea that we drill our own oil.
The US doesn't drill, and oil isn't nationalized.
So all that will happen is Exxon or BP or whomever, will or will not drill on leases they may already own.
Then they have the right to sell that oil on the open market.
That means they don't have to give us a break on the price just because they took it out from under our feet.
The only ones benefiting from home drilling are the people not on federal lands who can sell their oil and mineral rights to the oil companies. Even then, many people are surprised to find that those rights were sold many owners ago.
So even if a huge deposit were found and it was drilled it would only affect the cost of gas by a small amount.
We don't have a shortage, and the market isn't responding to promises by OPEC of increased production. This is a highly speculative market with a secondary problem caused by the weak dollar.
You need to get our facts straight. The link you provided is for tapped reserves, there is no facts there on untapped reserves.
The untapped SHALE reserves in the US is the largest in the world - in SHALE alone.
According to the US News and World Report in April 2006 the untapped oil in Utah, Wyoming and Colorado can produce more oil than produced worldwide.
I think we need to stop arguing about ANWR and off shore and be concerned with Utah, Wyoming and Colorado, North Dakota etc.
We can argue ANWR and off shore later.
EDIT
Having lived in Utah (the Uintah Basin to be exact) during the last oil boom and having family who lives there now, the environmental damage isn't near what you would think it would be.
The demand for oil hasn't risen at the same pace as the price of oil. So the price rise has a non supply/demand component such as investors thinking they can make money in futures contract.
If we begin to prime the supply pipeline by taking the steps to initiate production, the future supply/demand situation will tilt back towards higher supply, and the money tied to keeping prices high will go.
Think of the Hunt brothers who pushed silver prices up by a factor of 10 in the '80s and it came crashing down.
The talking point about more drilling or drilling in ANWR serves two purposes. It makes some of the voters happy who do not know the facts, and it makes their Big Oil masters happy by giving them more rights to drill.
To add to what you said, what they don't mention about drilling in ANWR is how much money it will cost to build the infrastructure. It would be massive amounts of US tax dollars going to develop and maintain the infrastructure in the arctic (from oil pipelines, to roads, to port facilities, etc.). That would be a huge giveaway to Big Oil, because no citizens will use those facilities.
They don't tell you that even Bush's Energy Department estimated drilling in ANWR would only lower the price per gallon by at most 3 cents, and that would take 15 years to do.
The answer is not more giveaways to Big Oil (at a time they have record profits for any corporation in history), the answer is funding their competition. The answer is alternative energy (solar, wind, biofuels, etc.) that is renewable and can be produced domestically.
The answer is to break the backs of OPEC and Middle Eastern dictators, not continue our addiction to oil. That is the Republican's answer and John McCain's answer because they have sold out to Big Oil. McCain has taken more oil lobbyist money than any other Senator, so you will never hear him advocate a position that will in any way hurt his oil buddies.
we won't need 100, percent of the worlds rerves, just our itty bitty percen,Ithink your argument is full of holes, we need to get to a point that we are depedently free of the middle east, govts back as far as carter have dropped the ball, of course they didn't have a crystal ball,if what you attest were true, in the short term, what is your plan electric vehicles are still several years off, biofuels are still not viable, what is your plan,
Well lets see more oil on the market the less oil will cost. Less dependence on foreign oil, dollar will increase because our trade will increase and allot of good paying jobs for people in this country. Besides the some of the oil will hit the market in under 3 years. So do you like high gas prices are you one of those work on alternative energy people. You know we can do both at the same time there's an idea. By the way your link doesn't work
Subject: Fwd: FW: Tips for Buying Gas
I don't know what you guys are paying for gasoline.... but here in California we are also paying higher, up to $4.50 per gallon. But my line of work is in petroleum for about 31 years now, so here are some tricks to get more of your money's worth for every gallon..
Here at the Kinder Morgan Pipeline where I work in San Jose , CA we deliver about 4 million gallons in a 24-hour period thru the pipeline. One day is diesel the next day is jet fuel, and gasoline, regular and premium grades. We have 34 -storage tanks here with a total capacity of 16,800,000 gallons.
Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening....your gallon is not exactly a gallon. In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role.
A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.
When you're filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3)stages: low, middle, and high. In slow mode you should be pumping on low speed, thereby minimizing the vapors that are created while you are pumping.
All hoses at the pump have a vapor return. If you are pumping on the fast rate, some other liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into the underground storage tank so you're getting less worth for your money.
One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount.
Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up--most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom. Hope this will help you get the most value for your money.
DO SHARE THESE TIPS WITH OTHERS!
WHERE TO BUY USA GAS, THIS IS VERY IMPORTANT TO KNOW. READ ON
Gas rationing in the 80's worked even though we grumbled about it. It might even be good for us! The Saudis are boycotting American goods. We should return the favor.
An interesting thought is to boycott their GAS.
Every time you fill up the car, you can avoid putting more money into the coffers of Saudi Arabia . Just buy from gas companies that don't import their oil from the Saudis.
Nothing is more frustrating than the feeling that every time I fill-up the tank, I am sending my money to people who are trying to kill me, my family, and my friends.
I thought it might be interesting for you to know which oil companies are the best to buy gas from and which major companies import Middle Eastern oil.
These companies import Middle Eastern oil:
Shell.......................... 205,742,000 barrels
Chevron/Texaco.........144,332,000 barrels
Exxon /Mobil...............130,082,000 barrels
Maathon/Speedway...117,740,000 barrels
Amoco........................62,231,00鈥?barrels
Citgo gas is from South America, from a Dictator who hates Americans. If you do the math at $30/barrel, these imports amount to over $18 BILLION! (oil is now $90 - $100 a barrel
Here are some large companies that do not import Middle Eastern oil:
Sunoco.................0 barrels
Conoco.................0 barrels
Sinclair.................0 barrels
BP/Phillips............0 barrels
Hess....................0 barrels
ARC0..................0 barrels
If you go to Sunoco.com, you will get a list of the station locations near you.
All of this information is available from the Department of Energy and each is
required to state where they get their oil and how much they are importing.
But to have an impact, we need to reach literally millions of gas buyers. It's really simple to do.
I don't gives a rat's behind if developing our own oil reserves makes oil cheaper or not. My primary concern is a secure oil supply for at least the next 25 years.
You can't have economic stability without security and oil is vital to our security.
Current technology, upon which every major civilized nation on the face of the earth depends, runs on oil.
Farm equipment that is used to adequately grow food runs on oil.
Transportation equipment used to transport the food to processors, suppliers and retailers runs on oil.
The Bakken in the western US has more oil locked up in shale than Saudi Arabia's largest producing oil field.
It's just not easy to get to most of it and up till now, it was cost prohibitive to even try to recover because the technology is behind. The current price of oil makes it more likely to be developed, as the market forces are right to spur heavy investment in the new technology necessary to recover oil from shale.
The key thing here is when viable replacements are available to do the job of feeding the world by using something other than oil, we've got to have oil, steadily, and once the US wells start pumping nobody but us can shut them down.
For over 30 years I've watched the socialists try to influence the US market. They wanted to increase the cost of gasoline via taxes on the public consumption of the product in order to get the public to want more fuel-efficient vehicles.
In less than 12 months the capitalist ';market'; has not only inspired want and need of fuel-efficient cars, it has also spurred the actual mass production of them.
All in all, if in the future I'm going to have to pay 10$ for a gallon of gas, I'd rather the money go to the people who will use that money to find and develop future oil supplies and not the people who would squander it.
Now you can pretend that the US does not need oil for the foreseeable future but it's sheer fantasy.
It would be for the best if as much of it as possible is our own and the sooner we get started the better. We're already 30 years late.
When the price of oil was barely above or below the cost of getting it out of the ground and profits were impossible, their shareholders provided the funds the company needed to stay afloat, just so you could eat.
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