Obama to postpone drilling

#2
#2
no surprise there. let's damage the free market economy in order to clear the way for a centrally planned economy.
 
#3
#3
Just have to wait and see.Just like the aricles states he has halted all regulations, so why single out this one issue.

Shortly after being sworn in on Tuesday, Obama ordered all federal agencies and departments to halt pending regulations until they can be reviewed by incoming staff.
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#4
#4
TVOLS said:
Just have to wait and see.Just like the aricles states he has halted all regulations, so why single out this one issue.
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This one is fairly pressing wouldn't you think? He has had plenty of time to understand his positions on all matters.
 
#5
#5
everyone knows closing gitmo is waaayyy more important that resolving any energy problems, i mean seriously. and wtf is up with suspending the trials of the terrorist? The only saving grace for him to do is to have these people droped into a shark or alligator tank for punishment. these guys facilitated 9-11 and we have given them this long for a trial? If they are going to give them protections under the constitution, then the whole thing should apply, enter ammendment 6 to the constitution
 
#7
#7
So much for moving quickly to find alternative means of energy. Same old song and dance.
 
#11
#11
I don't if anyone noticed, but the market is swimming in oil at the moment. The future of energy isn't in oil, and the present is flush with it.

I don't know why putting off drilling is such a big deal, given that the conservative argument was that it would have an immediate impact on prices (and certainly couldn't be about supply given the amount it would produce vs. the scale of global demand, and that it would be traded at the global price regardless of whether it's domestic or not.)

Why not hold that for a time when oil isn't less than 40 bucks a barrel?
 
#12
#12
IP, it takes time to find the oil and drill it out. I'd rather go ahead and get a jump on things instead of waiting for it to go back to $5 a gallon before we act. If it's really not worth it to explore and extract given long term supply and demand projections then the market will dictate that profit driven businesses don't explore and extract.
 
#13
#13
But is it even profitable to lay the infrastructure to extract oil at this time? Even though it is a virtual certainty oil prices will go back to where they were this summer over the next few years as the global economy recovers, it seems one would be unable to make their money back on the investment for awhile.

And still, i could have sworn the argument before was that it would affect prices almost immediately with speculators. The amount of oil that is there is not great, and wouldn't meet the needs of just our country for more than a few months (if we magically pulled it all out at once, which obviously it will be actually extracted over years).
 
#14
#14
utvolpj said:
so I shouldn't sell my XOM just yet?
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naw... maybe sell half and buy a wildcatter (speculative) Like PetroHawk, Chesapeake Energy (Natural Gas) or Devon Energy

And yes we should drill wherever we can... That is Our Oil and Our Money needs to stay in Our Banks and we need to stop the flow of Our Money flowing into Saudi Banks and into the hands of dictators bent on destroying Our Country
 
#15
#15
VolsNSkinsFan said:
naw... maybe sell half and buy a wildcatter (speculative) Like PetroHawk, Chesapeake Energy (Natural Gas) or Devon Energy

And yes we should drill wherever we can... That is Our Oil and Our Money needs to stay in Our Banks and we need to stop the flow of Our Money flowing into Saudi Banks and into the hands of dictators bent on destroying Our Country
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In the end, we will lose because we can't outproduce the middle east and Venezuela in terms of oil. We can't even produce enough for just our own needs. We need to change the game, whether that be through electric-based transportation, liquid coal, or whatever.
 
#16
#16
If the amount is not so great then why is every other nation in the world trying to tap the Gulf of Mexico? Each side is making up their own projections of how much is out there to support their own agenda. I say, let the speculators speculate. It's their money and time.
 
#17
#17
IPorange said:
I don't if anyone noticed, but the market is swimming in oil at the moment. The future of energy isn't in oil, and the present is flush with it.

I don't know why putting off drilling is such a big deal, given that the conservative argument was that it would have an immediate impact on prices (and certainly couldn't be about supply given the amount it would produce vs. the scale of global demand, and that it would be traded at the global price regardless of whether it's domestic or not.)

Why not hold that for a time when oil isn't less than 40 bucks a barrel?
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Yes, isn't the Dem's argument that it takes 10 years to see any results so why bother? And the future is and always will be oil, maybe not in this country but someone will always pay for it. You have countries that live off oil revenues, you think Russia, the Middle East, so on and so on are just going to shut there nations down for the cause of alternative energy?
 
#18
#18
IPorange said:
We need to change the game, whether that be through electric-based transportation, liquid coal, or whatever.
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I don't think anyone diagrees, but it will likely take decades to get there. In the meantime, why not do everything we can to avoid being at the mercy of OPEC? It's not an either or kind of issue for me.
 
#19
#19
VolunteerHillbilly said:
I don't think anyone diagrees, but it will likely take decades to get there. In the meantime, why not do everything we can to avoid being at the mercy of OPEC? It's not an either or kind of issue for me.
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I'm not a person who is convinced of the impact that man has on the environment. That being said anything we can do to keep the environment cleaner is a good thing, so long as we don't cripple the economy to do it.

I say throw the kitchen sink at it and in the meantime cover your bases with what works for us now.
 
#20
#20
For the record, I really don't have a problem with tapping into whatever oil reserves we have on the eastern continental shelf. Modern methods are pretty safe. I just don't think it is going to make much difference either way. I am fine with giving it a shot, but I expect some disappointment.
 
#21
#21
What kind of logic is this, can someone with COMMON sense really understand this? The Chinese are drilling off our shores and we are going just leave em more room to get our oil. I guess the Chinese will follow all of the safety regulations of the USA and keep our...I mean their oil from spilling onto our shores. Great, they get our oil and any pollution we get anyway......


Part of an article in 2006. Wake up and smell the coffee people!
While Washington dithers over exploiting oil and gas reserves off the coast of Florida, China has seized the opportunity to gobble up these deposits, which run throughout Latin America, the Caribbean and along the U.S. Gulf coast.

The Chinese have forged a deal with Cuban leader Fidel Castro to explore and tap into massive oil reserves almost within sight of Key West, Florida. At the same time, Venezuelan President Hugo Chavez, who controls the largest oil reserves in the Western Hemisphere, is making deals to sell his country�s oil to China, oil that is currently coming to the United States.

Meanwhile, a new left-wing populist regime in Bolivia has nationalized the natural gas industry, threatening to cut off supplies to the United States.

SLANT DRILLING

There are new reports out circulating that Chinese firms are planning to slant drill off the Cuban coast near the Florida Straits, tapping into U.S. oil reserves that are estimated at 4.6 billion to 9.3 billion barrels. This compares with 4 billion to 10 billion barrels believed to be beneath the Alaska National Wildlife Refuge, where drilling is held up in Congress due to the objections of environmental groups which warn of endangering caribou. Permission to drill in the refuge, which experts are certain will not present any environmental hazard, has failed by just two votes in the Senate.

As Chinese business increases its reach around the world, it is seeking oil, which it lacks domestically.
 
#22
#22
KB5252 said:
I'm not a person who is convinced of the impact that man has on the environment.
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I don't know how you can say that. I offshore oil platforms don't have much of an impact anyway, but humans are the single greatest mover and shaker of all things environment on the planet since the laurentide ice sheet. You realize earthworms aren't native to North America? We have done some serious physical and biological rearrangement on this planet, and still are.
 
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#23
#23
The same people who argue for alternative energy would throw themselves off of a cliff before they would allow a nuclear plant to be built. The best power source going. So, when I here, yeah I'm all for it, throw the kitchen sink at it, lets go. Does that include nuclear power?
 
#24
#24
IPorange said:
I don't know how you can say that. I offshore oil platforms don't have much of an impact anyway, but humans are the single greatest mover and shaker of all things environment on the planet since the laurentide ice sheet. You realize earthworms are native to North America? We have done some serious physical and biological rearrangement on this planet, and still are.
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I was talking about man made global warming specifically. I recognize fully that we do impact our environment. What I mean is I am not convinced that we as a human race are the driving force behind global warming or climate change.

As long as we drill responsibly I think the more domestic sources of energy we have the better off we are until an alternative that is economically viable becomes available for our main energy source.
 
#25
#25
iceman9 said:
The same people who argue for alternative energy would throw themselves off of a cliff before they would allow a nuclear plant to be built. The best power source going. So, when I here, yeah I'm all for it, throw the kitchen sink at it, lets go. Does that include nuclear power?
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Yes. Nuclear power is quite safe. People fear it because they don't fully understand it and radioactivity.
 
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