Current Topics
Islamic Terror and Reckless Rhetoric on the Far Right
by Greger
17 minutes 28 seconds ago
Miscellaneous humor thread
by NW Ponderer
Today at 09:56 PM
Texas Governor Abbott Deploys State Guard Because, Obama!
by pdx rick
Today at 04:09 PM
Who Is It That Is Confused About ISIS?
by pondering_it_all
Yesterday at 06:56 PM
Lessons learned - Baltimore
by jgw
Yesterday at 05:52 PM
Rotund Table for the Moth of April, 2014
by Scoutgal
Yesterday at 03:49 PM
Satanic Temple: 72-Hour Abortion Waiting Period is Against Our Religion
by pondering_it_all
Yesterday at 02:15 PM
Mayweather vs Pacquiao
by Greger
05/03/15 04:55 PM
A chance to end the public school era
by Ken Condon
05/03/15 04:17 PM
Stop judicial bribery/begging
by Scoutgal
05/02/15 06:12 PM
Conservative spin: the opposite of reality
by pdx rick
05/02/15 10:52 AM
Indiana Republicans Worry Mike Pence Has Destroyed Their Reputation
by Scoutgal
05/02/15 10:23 AM
The Passing Parade: Obituaries: 2015
by Ken Condon
04/30/15 06:41 PM
Bruce Jenner: 'I'm a Woman'
by Scoutgal
04/30/15 03:49 PM
Floyd Dent Beating Video : Inkster Police Officer Laughing, Celebrating...
by pdx rick
04/28/15 11:21 AM
Forum Stats
6003 Members
55 Forums
14739 Topics
251768 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 (), 18 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
xiawei, Marzman, kyleyoung8, Retread, solafeian
6003 Registered Users
A2