sevenhills

#44, sorry if my post #37 didn't explain in deep enough detail. I don't have time to write a dissertation on an Internet bulletin board.

However, there are multiple sources related to the issue that I am sure you will have no trouble researching.

I also acknowledge that it is a controversial issue. I was only stating my opinion, and you are welcome to yours.

jym626

Won't big oil companies bring staff who need offices and housing, who will buy food and cars and furniture and pay sales tax and real estate taxes in FL? (no state tax, lucky you)

kluge

So Bullet - why have gas prices doubled in the past 18 months? Specifics, now. Even speculators have to touch base with reality every once in a while.

Seriously, the sudden "need" to drill looks a lot like the sudden "need" to take out Saddam Hussein in 2003-2003. I still don't know what was behind that but I do know it wasn't WMD's. I'm equally skeptical that suddenly approving oil drilling all over the place is a well considered idea, forthrightly presented. Particularly since it's the same folks banging the drums.

sevenhills

And most importantly jym (and sorry if I am repeating other posters - I don't have time now to read them), the main reason for not drilling offshore now is that the oil needs to be held in reserve for the future, when it is really needed. Now I think the general consensus is that options traders are artificially running up the price, and that a shortage doesn't exist, the price increase is temporary, and will be reduced. OPEC conference going on now in SA

jym626

No, sevenhills, you are not repeating other posters- you seem merely to be avoiding answering my question. You made a very blanket statement. I asked for data to support it. Still waiting......

parent2noles

Fascist socialist?

So is that where a state is run by a authoritarian nationalistic group of pure blood individuals where the state owns all the means of production?

It seems redundant, but I repeat myself. Wait - that was Mark Twain...never mind.

I do so wish I'd paid attention when in school. You folks are all so bright and I'm such a dork.

jym626

Someone whose opinion I trust about this topic recommended reading this book Twilight in the Desert by Matt Simmons Accordingly, the oil shortage is real. Sevenhills, or whoever you are, please provide data to support your hypotheses.

** I just noticed that you made these huge blanket statements and then said that *we* should do the research on the web to justify your statements because you dont have time? Wow. Just wow.

mini

"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."

And that's precisely why oil companies aren't drilling on the 65 million acres they already have. What's in it for them?

Now, let's be clear: wildcatters will drill. They are hoping to strike it rich. But the only risk for major oil companies is the other guy. So they're better off just letting the leases sit in the vaults.

Meanwhile, take a look at the bonanza where oil companies are public/private partnerships.

sevenhills

No Jym, I didn't make any huge blanket statements at all. You didn't understand what I said because I have a much better understanding of the situation than you. Sorry, I can't help that.

I told you I didn't have time to explain it in more detail and that there were multiple theories. You didn't like my theories and resorted to name calling and veiled humiliation attempts.

I have no obligation to explain anything to you, and the little bit I attempted to, you should appreciate. You said you have a highly recommended book, so enjoy it.

barrons

"local environmental degradation" is an assumption--not nearly a fact. Also a small marginal increase in supply can have a larger than lineal impact on prices. The jump from $100 to $130 oil has more to do with marginal speculation than average demand. It will also help improve the dollar value as we cut imports by even a modest amount. The scare tactics of the left are rubbish. Given their druthers we would still be driving oxcarts on unpaved roads because roads lead to development and that's bad.

jym626

Thank heavens-- a new diet plan. Ready to barf up dinner. Thanks for bestowing your wisdom and grace.

Name calling and veiled humiliation? No one did anything of the sort. I politely asked for clarification or links to data to support the statements you made. You chose to make more outlandish statements and tell us to do your work for you. Thanks but no thanks. Most folks are willing to provide some substantiation, when asked for a citation, in support of their theory. When others duck and weave-- its just smoke and mirrors. Have a good evening with whatever is of such pressing importance.

parent2noles

Usually one with such great understanding would be kind enough to help us all learn. I think I'd appreciate some references as well.

TerpDad

Stipulate that the oil leases granted come with an expiration date for exploration. If you snooze you lose! This will guarantee oil companies won't sit on the leases

LongPrime

My theory is that the Backers of Bush (BoB) is causing the rise in oil prices inorder that he gets to order the bombing of Iran because Iran knows that oil is a limited resource and that its future lies in some other energy source, such as nuclear power. BUSH: How I Stop Worrying and Love Oil.

LongPrime

I kinda wish that the people in Washington would get together so that my S can drive in his subsidized car. No sense in having a subsidized car when you can't get anywhere because of the traffic. Either Washingtonians should build more roads or get off of them.