Current Topics
5 Reasons Bernie Sanders Wins Big With Cruz Dropout
by pdx rick
03:39 AM
Campaign 2016
by pondering_it_all
02:37 AM
Trump's Trumpet
by Greger
10:08 PM
Proof that non-regulation and self-monitoring doesn't work
by pdx rick
08:20 PM
Round Table for May, 2016
by pdx rick
08:13 PM
Clinton encouraged Trump to run
by Ezekiel
07:02 PM
Global warming
by pdx rick
04:36 PM
Cruz now all but locked out of first-ballot win at convention
by pdx rick
02:20 AM
On the value of education...
by pdx rick
05/03/16 01:35 PM
May Day
by Jeffery J. Haas
05/02/16 01:14 PM
Ted Cruz Taps Carly Fiorina As Vice Presidential Nominee
by pondering_it_all
05/02/16 03:50 AM
Utah Lawmaker Says Internet Porn Violates First Amendment
by logtroll
05/01/16 07:01 PM
Gender-Correct Bathroom Usage
by pondering_it_all
05/01/16 06:59 PM
Saudi Arabia
by jgw
05/01/16 03:43 PM
RoundTable for April, 2016
by logtroll
05/01/16 11:37 AM
Forum Stats
6139 Members
56 Forums
15219 Topics
260981 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
1 registered (1 invisible), 21 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
MarkS, ScribblingSage, msozzy, bigswede, matthew
6139 Registered Users
A2