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SeattleUte · 10-16-2008, 08:04 PM

http://www.nytimes.com/2008/10/17/bu.../17oil.html?hp

This is good news. I have a suspicion the run up in oil prices was a substantial factor in causing all this economic calamity. The markets really are a zero sum game.

il Padrino Ute · 10-16-2008, 10:18 PM

OPEC will cut production to boost cost per barrel. They really liked the $$ from higher prices.

It's time to start drilling on our soil.

BigFatMeanie · 10-16-2008, 10:42 PM

I thought the following quote was very interesting:

Quote:

Iran and Venezuela both need oil prices at $95 a barrel to balance their budgets, Russia needs $70, and Saudi Arabia needs $55 a barrel, according to Deutsche Bank estimates.

None of those countries are countries I would consider "friends" of the U.S. Screw those countries. Bring on domestic nuclear, oil shale, and offshore drilling. Let's stop sending our capital overseas and funding regimes that hate us.

il Padrino Ute · 10-16-2008, 11:00 PM

Quote:

Originally Posted by BigFatMeanie

I thought the following quote was very interesting:

None of those countries are countries I would consider "friends" of the U.S. Screw those countries. Bring on domestic nuclear, oil shale, and offshore drilling. Let's stop sending our capital overseas and funding regimes that hate us.

A-freaking-men.

SeattleUte · 10-16-2008, 11:03 PM

Quote:

Originally Posted by BigFatMeanie

I thought the following quote was very interesting:

None of those countries are countries I would consider "friends" of the U.S. Screw those countries. Bring on domestic nuclear, oil shale, and offshore drilling. Let's stop sending our capital overseas and funding regimes that hate us.

No American should get warm and fuzzies for OPEC. I'm sure Lebowki and Waters do.

SCcoug · 10-16-2008, 11:36 PM

The problem is that we won't be able to have our cake and eat it too. We want to continue using as much oil as we do, get from a cheap as we can, and be picky about where it comes form. I don't think we can have all three.
To really become energy independent or OPEC independent we'd have to make changes, many of which could be painful. Eventually we'll have to find some other energy source as oil is a finite resource.

The US uses 20.6 mbd of oil but only produces around 5 mbd. If we are to continue using that much oil we have to import it.
Here is where the rest of it comes from. In July we imported 6.121 mbd from OPEC countries 2.493 mbd came from the mid east. So to offset that foreign production by domestic production we'd have to more than double our domestic output. Deep water drilling, oil shale ect are all more expensive to use and are give less energy return on energy invested. If we still had more cheap source we'd be using them already. Replacing OPEC oil with these sources will push up the price at the pump, winter heating oil, food prices ect.

Energy independence is a good campaign phrase but so far there aren't any easy solutions to do it and I doubt we have the political will to do it.

landpoke · 10-17-2008, 02:23 AM

You shut your whore mouth, T. Boone knows the way. A more selfless man I've never met.

Flystripper · 10-17-2008, 05:41 PM

Quote:

Originally Posted by landpoke

You shut your whore mouth, T. Boone knows the way. A more selfless man I've never met.

Says a veritable natural gas baron.

10-16-2008, 08:04 PM	#1
SeattleUte fairlds.org Join Date: Jan 2006 Location: Seattle, WA Posts: 10,665	Die OPEC. Die. http://www.nytimes.com/2008/10/17/bu.../17oil.html?hp This is good news. I have a suspicion the run up in oil prices was a substantial factor in causing all this economic calamity. The markets really are a zero sum game. __________________ Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster

10-16-2008, 10:18 PM	#2
il Padrino Ute Board Pinhead Join Date: Jan 2006 Location: In the basement of my house, Murray, Utah. Posts: 15,941	OPEC will cut production to boost cost per barrel. They really liked the $$ from higher prices. It's time to start drilling on our soil. __________________ "The beauty of baseball is not having to explain it." - Chuck Shriver "This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB.

10-17-2008, 02:23 AM	#7
landpoke Senior Member Join Date: Jul 2007 Location: North Central God's Country Posts: 1,534	You shut your whore mouth, T. Boone knows the way. A more selfless man I've never met. __________________ I see a hobo. And when I see the hobo, I think to myself, "This man is poor. His monetary value is low, and my monetary value is high, and it's a shame that he is himself. What can I do?"

10-16-2008, 11:36 PM	#6
SCcoug Junior Member Join Date: Apr 2007 Posts: 81	The problem is that we won't be able to have our cake and eat it too. We want to continue using as much oil as we do, get from a cheap as we can, and be picky about where it comes form. I don't think we can have all three. To really become energy independent or OPEC independent we'd have to make changes, many of which could be painful. Eventually we'll have to find some other energy source as oil is a finite resource. The US uses 20.6 mbd of oil but only produces around 5 mbd. If we are to continue using that much oil we have to import it. Here is where the rest of it comes from. In July we imported 6.121 mbd from OPEC countries 2.493 mbd came from the mid east. So to offset that foreign production by domestic production we'd have to more than double our domestic output. Deep water drilling, oil shale ect are all more expensive to use and are give less energy return on energy invested. If we still had more cheap source we'd be using them already. Replacing OPEC oil with these sources will push up the price at the pump, winter heating oil, food prices ect. Energy independence is a good campaign phrase but so far there aren't any easy solutions to do it and I doubt we have the political will to do it.