xNYer

Drill;
Profits should go to the state of Florida to develop light rail and mass transit as well as subsidizing alternate energy sources.

Since WE ( our tourist based economy ) are asumming the risk of any spills or accidents then we should benefit the most from the risk.

Doubt anyone would come and vacation here with oil on our beaches!

mini

I don't see any reason why the state can't enter into a public/private partnership and repatriate all the profits.

parent2noles

^They do that already - repatriate at least SOME of the profits - via taxes and fees.

Ugh. Great idea, mini.

mini

No reason to tax when you can profit. Aren't you in favor of LOWER taxes?

parent2noles

Yes, but perhaps through less of a Socialistic process. I'm sorry, but state control of everything makes me nervous.

mini

Private (actually, corporate socialist) control of oil resources has been a disaster here (with 65 million acres already leased, and not a single new refinery in 35 years), while a boon to every state-owned or operated company in the Middle East and Latin America.

sevenhills

Last year there was a "small" oil spill in the SF Bay. This year, all the salmon have mysteriously disappeared.

Off shore drilling doesn't involve rigs 100 miles from shore. There is massive destruction to the surrounding environment from equipment, ecological niches are destroyed, the environment and ecology suffer further.

Global weather changes are involved with the ecological and environmental changes. Katrina was so severe because of ecological changes in the surrounding waters - not just because the levees were inadequate.

Drilling in Alaska will also do enormous environmental damage, that will have other consequences.

Cut down on your energy consumption, don't destroy the environment.

Florida already has sewage problems on the beaches because the pipes that empty into the Atlantic don't extend far enough. Sewage is washed onto the beaches in Miami.

bulletandpima

It is not only about drilling...we need refineries...NJ has Garden State as their slogan, but when you drive the NJTPKE @ exit 13 you need to hold your breath due to refineries, (most people don't realize that NJTPKE exists to make a U-Turn between PA and NJ).

I lived in AK, I find it interesting that every state of the Union gets to determine what is best for AK! If you live in AK, you would understand that the citizens care more about the earth and their wildlife, than anyone in the lower states! Their fishing and hunting laws are intense (G*d forbid you catch 2 Salmons in 23:59 minuts, b/c you will be facing a huge fine) Schools are built so that every child can walk! The most ironic part is their gas prices are higher than most states (again no refinery...they drill, but then it is shipped back). You cannot go into Denali unless you take 1 of their buses, so the emission level will not hurt the animals!

What makes some voter from South Caroline say they know what is best for Alaska? Alaska now makes more money from their permanent fund from tourism than Oil, which was the foundation of the fund. How would South Carolina feel if Alaska started to say that homes built on the ocean front is creating problems? Would S.C. who gets tons of Real Estate taxes from Ocean front properties want Alaskan residents to state that they our endangering the eco-sphere?

Ask a Florida resident we must drill in either Alaska or Florida to protect the US economy... which one would they chose(I am guessing AK)....now ask the Alaskan resident the same ?...my guess is AK! Here's the difference...I never met anyone in Alaska who was not in awe, I lived there 3 yrs, and never in my life will I ever see such beautiful landscapes. People who live there elect to live there, they love everything about it! If they want it, why or we fighting them? All anyone is stating is I know better even if I don't live there!

BTW watch the Discovery channel ICE ROAD TRUCKERS! They show how if there is a spill that it is the priority compared to getting the load to site!

parent2noles

^It's you and me, bp! AK and FL will rule America.

Private socialism is ok. State socialism gets ugly. National Socialism...well, we all know what that means.

bulletandpima

Well get ready for it since the hill is proposing it!

sevenhills

Corporations are fascist socialists - not socialists. Don't kid yourself. Oil companies are corporations. Your state won't see a cent.

parent2noles

Who cares about money? I just want diesel.

kluge

I keep hearing idiots, (usually Republicans) saying that drilling will have an effect on the price of oil today.

Seriously - what do you think would have a greater impact on the price of crude oil - word that America is going to add a teaspoon of oil to the worldwide oil supply by drilling off our beaches and in Alaska, or an actual commitment to effecting real, structural changes to our society that would result in less oil consumption?

Not too tough, now - tiny increase in global supply coupled with local environmental degradation vs. actual decrease in domestic consumption. (Oh, and that global warming thing you guys like to ignore.) On the other hand, it might require today's adults to actually invest in the nation for the benefit of future generations, instead of just whining about paying taxes (which are lower than ever before) and blaming it on crack whores, or illegal immigrants, or some other equally powerless and marginal factor in the economy.

What is it about our boomer generation that so many of us are so easily manipulated into demanding that we be given the easy out, the free lunch, the benefit of a free society and a well-developed infrastructure without having to pay to maintain and extend it? And complaining about our lot at the same time, to boot?

Xiggi, a bright (if frequently misguided) younger poster here on CC, pointed it out long ago: gas should have been $5 a gallon years ago, with the difference between the price then and $5 being a tax, used to fund alternative technologies and planning policies, driving our consumption of fuel down. But that would have required a teeny bit of sacrifice for our generation. And decades of Republican politicians who fatuously crow "I'm a tax cutter!" would have to actually do some heavy mental lifting so as to try to figure out what the actual consequences of their policies might be.

Nah. Too much work.

jym626

Still waiting to hear how oil drilling is gonna cause a katrina-like natural disaster, sevenhills. Your posts sure do sound a lot like ol' CGM.

Bullet

And I keep hearing others, usually Democrats, who have no understanding of how market speculation has an impact on current prices.

Speculators buy futures on the oil commodity today, hedging their bets that the price of oil will be higher 12-18 months from now. Price goes up, they make a nice profit on the oil they bought on the margin today. They gaze into their crystal balls, placing their bets that forces will drive prices up, and are willing to "buy" now in the hope that the price will rise.

But what happens to the oil commodity market when supplies increase, even a little? Speculators will see a different future than today, the price of oil will come down. Now, I give you this Kluge: the price won't come down much just because of a small increase in supply that would occur from increasing our drilling capacity. BUT, the speculators, who do have a large impact on price per barrel paid, will now hedge their bets in the opposite direction, either selling off or only buying at lower prices.

Bottom Line: a small increase in supply WILL drive down the price of crude MUCH lower because the speculators will drive the market that way.

BTW, I agree that the taxes on gas need to be increased, both to drive dwn our consumption and to fund alternative energy development.