[Idonnaink]

WE could supply our needs if the infrastructure was in place and we kept all domestically produced oil in this country. its not "physically impossible" its just currently impossible with our current infrastructure.

think of all the good paying jobs that could be created in making the USA energy self sufficient. But no, we remain slaves to a bunch of lunatics who think that oil is an evil substance.

I love oil. Let's drill it, refine it, let's bathe in the fucking shit!

But show me how it is possible to extract 20 million barrels a day, within US territories. I see no evidence of this.

Could we pull 10 million a day? Probably. 12 million? Maybe...

But 20 million? It's not feasible.

[QEoMi752]

He cited world consumption.. Because, under the current scheme, that's where it is going. Onto the world market.

We don't have national oil companies.

Also the world price of crude is measured in American dollars, so all this 'quantitve easing' is driving up prices by inflation. The devaluation of the greenback.

[Mymnnarry]

our country is facing many risks right now. currency devaluation is but one of them.

It's a national security issue.. Also the national livelihood.

[Precturge]

I love oil. Let's drill it, refine it, let's bathe in the fucking shit!

But show me how it is possible to extract 20 million barrels a day, within US territories. I see no evidence of this.

Could we pull 10 million a day? Probably. 12 million? Maybe...

But 20 million? It's not feasible.

people said it was not feasible to put men on the moon------------but we did it. you give up too easily

[M4tHkBw2]

All the sources I looked at say daily US oil consumption is anywhere between 18 and 20 million barrels a day. That's a far cry from 88 million. Where did that figure come from?

Oil prices are negotiated on the global market.

[Assungusa]

Also the world price of crude is measured in American dollars, so all this 'quantitve easing' is driving up prices by inflation.

Yes.. Driven far enough, for long enough, and we could.. Theoretically.. End up not being able to afford to purchase our own oil.

[diseeKeythilt]

It's a national security issue.. Also the national livelihood.

you and guapo are correct. but you knew that

[Kdgjhytiy]

Buy more hens i.e. drill more wells and build more refineries.

you just don't get it.

No, no, no. The "hen" is all of the wells and refineries we can possibly run at any one time.

[Elissetecausa]

Oil prices are negotiated on the global market.

'negotiated" care to explain.

[SallythePearl]

No, no, no. The "hen" is all of the wells and refineries we can possibly run at any one time.

There's a finite limit here?

[fapourfasiark]

No, no, no. The "hen" is all of the wells and refineries we can possibly run at any one time.

what limits the number of wells or refineries? what keeps us from running more? answer: nothing.

[Jffxljtw]

Buy more hens i.e. drill more wells and build more refineries.

you just don't get it.

You can't just throw wells wherever you want. The oil is only in certain places. And extraction has real, physical limitations, as well as monetary limitations. This is the reality.

[uchetrip]

what limits the number of wells or refineries? what keeps us from running more? answer: nothing.

Profitability, Rocat.

Profitability!!!!!!

[b7RKli4l]

You can't just throw wells wherever you want. The oil is only in certain places. And extraction has real, physical limitations, as well as monetary limitations. This is the reality.

yes, you can only drill where there is oil. Duh

but what keeps us from drilling more is govt regulation, not physical or monetary limitations.

[adariseediups]

It's profitable to harvest the Canadian tar sands at current prices?

As you say, globally this is just a blip.. I don't see prices collapsing.

[Caunnysup]

Profitability, Rocat.

Profitability!!!!!!

why do you presume that new wells would not be profitable?

[valiumcheepval]

Profitability, Rocat.

Profitability!!!!!!

We'll nuke Iran and redline their oil..

[Qzmsdoem]

It's profitable to harvest the Canadian tar sands at current prices?

As you say, globally this is just a blip.. I don't see prices collapsing.

would the canadians be doing it at a loss?

[SashaLionx]

why do you presume that new wells would not be profitable?

They would be. To a point.

That point will be far, far below production capacity of 20 million barrels a day.

If you have any evidence that the USA could ever potentially produce 20 million and more barrels a day, please post it.

Because, until we can do that, we can never, ever, ever, ever, ever, ever get off of foreign oil...

[Rqqneujr]

We'll nuke Iran and redline their oil..

you are joking, but we should have made oil a condition of saving Kuwait from Saddam