Offshore Drilling Poll

[SeaBiscuit]

Good debate, as long as it remains civilized.
Seems like the great majority of those SF.com members who have taken the poll favor exploration of domestic oil, the results of which (other than an immediate, marginal price drop) will not be known or realized for many years yet.

Have you considered how much of the increase in oil cost is directly related to the sad state of our national currency? A strong dollar would do a lot more to normalize oil cost to the US consumer than any amount of drilling ever could.

Should there not be a debate about how to again strengthen our economy which for so long afforded us gasoline at 1-2 dollars per gallon, while the rest of the western world was paying $ 4-5 ?

Drilling is a very small part of a much bigger issue, in my opinion.

thanks

[Ultralite]

Good debate, as long as it remains civilized.
Seems like the great majority of those SF.com members who have taken the poll favor exploration of domestic oil, the results of which (other than an immediate, marginal price drop) will not be known or realized for many years yet.

Have you considered how much of the increase in oil cost is directly related to the sad state of our national currency? A strong dollar would do a lot more to normalize oil cost to the US consumer than any amount of drilling ever could.

Should there not be a debate about how to again strengthen our economy which for so long afforded us gasoline at 1-2 dollars per gallon, while the rest of the western world was paying $ 4-5 ?

Drilling is a very small part of a much bigger issue, in my opinion.

thanks

In the interest of continuing a good debate, there are experts who have said that oil is on an 18 to 20 year cycle and we are at the peak pricing portion of that cycle. The reason is that costs of exploration and development are so substantial that it is only undertaken when oil prices are at a level that warrants the investment. It's safe to conclude that very little exploration was taking place back in 1998 when oil was at $11 a barrel and it's also safe to conclude that a whole bunch of exploration is taking place now that oil is over $100 a barrel.

You don't have to conclude, it's a fact. Take a drive through Alberta, Canada and every hotel, motel, etc. is filled with oil field workers. Two years ago, while driving through Wyoming for flyfishing, it was very hard to find a motel room due to all the demand for workers for drilling in the gas fields. The McDonald's in Cody Wyoming had to close on Wednesdays because they could not find enough workers as they were all drawn to the gas fields.

All of this exploration activity will continue so long as the commodity prices warrant the investment. It will continue around the world until prices come down to the point where new investment is no longer justified. Due to the time involved in exploration and development (remember they say peak production for ANWR would be out in 2025 if we started drilling now), the oil commodity price cycle ends up being about 18 to 20 years.

The reports I've read have said that at $145 a barrel, oil was price out to the year 2020 assuming current trends in production and consumption. Well, consumption has certainly decreased in the U.S. of late, thus partially explaining the drop to $109 a barrel. Meanwhile, exploration and development continues as it's difficult to flip that switch off once it has started.

[fishskipper]

Good debate, as long as it remains civilized.
Seems like the great majority of those SF.com members who have taken the poll favor exploration of domestic oil, the results of which (other than an immediate, marginal price drop) will not be known or realized for many years yet.

Have you considered how much of the increase in oil cost is directly related to the sad state of our national currency? A strong dollar would do a lot more to normalize oil cost to the US consumer than any amount of drilling ever could.

Should there not be a debate about how to again strengthen our economy which for so long afforded us gasoline at 1-2 dollars per gallon, while the rest of the western world was paying $ 4-5 ?

Drilling is a very small part of a much bigger issue, in my opinion.

thanks

I still think being independent of foreign oil producers is a big issue,but I do agree with you on the strength of the dollar. This is why a lot of charter boats in this area are going out of business.I feel that if we didn't send our money out of the country the dollar would be stronger!

[Ultralite]

I still think being independent of foreign oil producers is a big issue,but I do agree with you on the strength of the dollar. This is why a lot of charter boats in this area are going out of business.I feel that if we didn't send our money out of the country the dollar would be stronger!

No doubt about it. When you consider that we are sending trillions out of the country for oil, that money does not get recycled in our economy, a concept in economics called the multiplier effect. It's just a big vacuous drain with no benefit, kinda like a fart.

[hubris 1]

You like my style! You got a girl friend that loves ya. You want to die with a smile on your face. And you're in some paradise in Greece and you own a Blackfin---You are the Man!! God Bless You!

now how do i get the message across? thats what ive been trying to say all along. captlen, you are wise! peace.

[flatbottom]

well if anwar is going to put out 1.5 million barrels a day....that will power the US for 60 minutes. We need 23 more hours of oil. There are things we can do to cut the use of oil permanently. Build nuke stations and relieve the home heating from oil grasp. There are more ways to cut oil use. So we need 23 more hours of energy. Rather small needs if you slice it up. We have NG. And plenty of it. Now get the politicians out of the way, the bunny bumpers out of the way......lets get rolling on this.

also ethanol. Find a specific use for it and stop shoving it down our throats. The farmers have been paid to grow nothing for to long

Boeing said algae based jet fuel will power the airline industry in 10 years. As of late that industry is having a hard time maintaining supplies.

With all we can do to help ourselves. Our dollar will again be the value to look up to.

Saxis said the best post in this thread. Build refineries....build them away from the hurricane zones

The oil cartels will use oil to hang us high until we become independent of their strangle hold. Just as Russia is trying to do at this moment.

To tell you the truth. I wish Bill Gates was a chemist. We would be using windowoil ver. 29.6

I also heard a convection turbine was in the works. A post previously mentioned algae based diesel. It use a green house to grow the algae. The (I am thinking out loud) green house could be used as a collector and a turbine near by to generate power.....That would be independent of any foreign oil for ever. We have many miles of barren desert in this country.


But for now Drill drill drill as many as you can

[fishskipper]

Well Said Flatt !!!! Still blows my mind with over 25,000 members and almost 900 views to this thread only 148 people have answered the poll.