Current Topics
Obama Vetoes 9/11 Lawsuit Bill
by NW Ponderer
NC Republican Congressman Robert Pittenger: Protesters ‘hate white people’
by rporter314
Campaign 2016
by logtroll
08:22 AM
One person's thought about conservatism
by logtroll
08:04 AM
The Passing Parade: Obituaries: 2016
by Golem
10:52 PM
Trump's Trumpet
by rporter314
04:53 PM
Searching for ET...
by pondering_it_all
04:43 PM
Count Rumford
by logtroll
11:42 AM
Ted Cruz Caves, Endorses Donald Trump
by logtroll
10:17 AM
Sugar Industry Bought Off Scientists in 1960's
by Ezekiel
07:13 AM
High school football team loses on purpose after opposing player's injury
by NW Ponderer
02:50 AM
Joe Paterno tribute ignites positive and negative passions
by pdx rick
09/24/16 11:59 PM
Trump Ohio Chairwoman Says There Was No Racism Before Obama
by Spag-hetti
09/24/16 12:43 PM
Badass Senator Lizzy Warren yells at dirty scummy Bankster
by pdx rick
09/23/16 04:48 PM
Really?...... Why not Weiner dog?
by pondering_it_all
09/23/16 07:27 AM
Forum Stats
6173 Members
56 Forums
15436 Topics
266400 Posts

Max Online: 282 @ 05/29/08 01:08 AM
Google Adsense
Topic Options
#213475 - 02/20/12 03:03 PM US Oil Gusher Blows Out Projections
Chuck Howard Offline
old hand

Registered: 09/17/01
Posts: 6723
Loc: Philly 'burbs
Link to source

Excerpt
Quote:
The number of rigs in U.S. oil fields has more than quad­rupled in the past three years to 1,272, according to the Baker Hughes rig count. Including those in natural gas fields, the United States now has more rigs at work than the entire rest of the world.


Let me see if I understand this. In 2008, candidates McCain and Palin chanted "drill, baby drill." They lost the election. And now for the past three years (under you know who), we've been "drilling, baby drilling."

So, we have increased supply, decreased demand and, therefore, should be experiencing falling prices. But that's not happening. The question is why. The GOP will tell us that it's the President's fault. Who knows? Maybe it is. Especially if you're predisposed to blaming the President. On the other hand, there's this:

Speculators and Iranians...

Top
#213477 - 02/20/12 03:46 PM Re: US Oil Gusher Blows Out Projections [Re: Chuck Howard]
numan Offline
veteran

Registered: 08/06/08
Posts: 10853
Loc: What! Me Worry?
'
The United States consumes 19 million barrels of petroleum each day, or about 7 billion barrels per year. 500 million barrels per year are wasted in the military boondoggles of the American War Machine.
So the civilian consumption is 6.5 billion barrels per year. The half-a-billion barrels wasted by the military represent a month's supply of civilian consumption.

Imagine what gas prices would be if the wastage of the war profiteers were curtailed.
_________________________
The ultimate result of shielding men from the effects of folly is to fill the world with fools -- Herbert Spencer

Top
#213479 - 02/20/12 03:50 PM Re: US Oil Gusher Blows Out Projections [Re: numan]
Chuck Howard Offline
old hand

Registered: 09/17/01
Posts: 6723
Loc: Philly 'burbs
Hey, it's a bitch running an empire!

Top

Who's Online
0 registered (), 30 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
Dawnterrorel, EnriliAndi, EndumnCurt, ebofyju, keemnPol
6173 Registered Users
A2