[krek-sikUp]

Stossel is doing an hour special on oil right now on FNC...

He'll be showing an interview with Palin shortly.

They already discussed what I've been telling everyone for years. That you can't change world supply significantly by opening up drilling in the USA. If geologists are correct, federla lands and offshore areas could produce an additional 1 million barrels of oil a day, in a world where we consume 88 million barrels a day.

That's a 1.1% increase in global supply. So, if you're paying $3.50 a gallon for gas now, perhaps that would get your gas all the way down to $3.46 a gallon...





Disclaimer: I support more domestic production. But I want everyone to know that it won't drop the price of oil in any meaningful way.

[TheBest-Host]

Palin handled herself pretty well, on the oil issue.

[appleiphoneees]

Stossel is doing an hour special on oil right now on FNC...

He'll be showing an interview with Palin shortly.

They already discussed what I've been telling everyone for years. That you can't change world supply significantly by opening up drilling in the USA. If geologists are correct, federla lands and offshore areas could produce an additional 1 million barrels of oil a day, in a world where we consume 88 million barrels a day.

That's a 1.1% increase in global supply. So, if you're paying $3.50 a gallon for gas now, perhaps that would get your gas all the way down to $3.46 a gallon...





Disclaimer: I support more domestic production. But I want everyone to know that it won't drop the price of oil in any meaningful way.

your numbers are wrong, your premise is wrong, and your conclusion is wrong. other than that, you are right on

[UtidaBrar]

http://www.anwr.org/Background/How-m...is-in-ANWR.php

[obegeLype]

http://www.warriorsfortruth.com/alaska-oil-anwar.html

[sharpyure]

your numbers are wrong, your premise is wrong, and your conclusion is wrong. other than that, you are right on

You don't know anything about it. Spare me.

[Master_B]

You don't know anything about it. Spare me.

I gave you two valid cites. and my friend, I know much more about it than you do.

[Sniliabiz]

You have to get the oil out of the ground.

Experts predict we could pull 800,000 barrels a day out of ANWR.

That's the only metric that matters, if you're talking about price.

[Paul Bunyan]

I gave you two valid cites. and my friend, I know much more about it than you do.

So theres 8 kajillion barrels under the ground. Why the fuck do you think we can pull that all out at one shot?!?!?!

It's retarded!!!!!

[strongjannabiz]

So theres 8 kajillion barrels under the ground. Why the fuck do you think we can pull that all out at one shot?!?!?!

It's retarded!!!!!

who said we needed to pull it all out at once? we have enough oil in the US to fill our energy needs for 100 years or more. by then maybe some wizard will come up with a viable replacement.

you are buying into the bullshit from the envirolibtarded media outlets. they have filled your head with lies and you are too stubborn to realize it.

[ephennaCypota]

who said we needed to pull it all out at once? we have enough oil in the US to fill our energy needs for 100 years or more. by then maybe some wizard will come up with a viable replacement.

you are buying into the bullshit from the envirolibtarded media outlets. they have filled your head with lies and you are too stubborn to realize it.

Nope. We do not have enough oil to provide for ourselves for even one single day, Rocat.

Because it is PHYSICALLY IMPOSSIBLE for us to ever extract 20 million barrels in one day. Do you get that?

You're taking all of the reserves, and dividing them by how much we use in a year. But that is bad math. It doesn't work that way. It's how much you can PRODUCE that matters.

So, in reality, we might have enough oil to provide 50% of our needs, for 200 years. But that is a very different thing then what you are saying.

[Greactbet]

As usual, we are having two different arguments.

My info isn't coming from environmentalists. It's coming from oil lovers.

For fuck's sake, wake up!

[CHyLmxDr]

who said we needed to pull it all out at once? we have enough oil in the US to fill our energy needs for 100 years or more. Dumped on the world market.. do we really?

[whimpykid]

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?

[diemeareendup]

Something else to consider. How much oil will we get from beneath our own feet if the dollar collapses or is replaced, as China and the BRICs would like to see?

The way this all works in our advantage is:

1) Dollar strong.

2) Global Medium of exchange.

If that changes, we could easily sell leases for a pittance and not even be able to afford to purchase our own output.. The oil beneath American's feet would go somewhere else.

[obHQNsY2]

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?

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.

[jerzeygymwolf]

Nope. We do not have enough oil to provide for ourselves for even one single day, Rocat.

Because it is PHYSICALLY IMPOSSIBLE for us to ever extract 20 million barrels in one day. Do you get that?

You're taking all of the reserves, and dividing them by how much we use in a year. But that is bad math. It doesn't work that way. It's how much you can PRODUCE that matters.

So, in reality, we might have enough oil to provide 50% of our needs, for 200 years. But that is a very different thing then what you are saying.

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.

[Unlinozistimi]

Let's imagine you had a hen that laid one egg a day. And your family ate 3 eggs a day. And geese laid eggs for 10 years.

So, you have the capacity to provide 33% of your egg needs, over 10 years. Everybody with me so far?

Now, some wiseass comes along and multiplies one egg a day x 365 days in a year x 10 years, and tells you that you actually have 3,650 eggs! You can surely produce all of your own eggs at home!

But....

The hen still only lays one egg each day...

[diundasmink]

Something else to consider. How much oil will we get from beneath our own feet if the dollar collapses or is replaced, as China and the BRICs would like to see?

The way this all works in our advantage is:

1) Dollar strong.

2) Global Medium of exchange.

If that changes, we could easily sell leases for a pittance and not even be able to afford to purchase our own output.. The oil beneath American's feet would go somewhere else.

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

[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.