Current Topics
If this works!!!
by Ezekiel
Today at 06:24 AM
Round Table for Sextilis 2015!
by pdx rick
Today at 01:20 AM
The Reagan Administration
by Ken Condon
Today at 01:19 AM
Trump's Trumpet
by Spag-hetti
Yesterday at 07:07 PM
Miscellaneous humor thread
by Golem
08/25/15 10:22 PM
Global warming
by Scoutgal
08/25/15 10:16 PM
Is Hillary's Servergate real?
by Scoutgal
08/25/15 05:43 PM
One Theory on Donald Trump's Inevitable Political Demise
by Scoutgal
08/25/15 05:36 PM
The Story Behind "Bohemian Rhapsody," the Weirdest Rock Classic Ever
by Scoutgal
08/25/15 05:29 PM
2015 Hugo Awards
by Golem
08/23/15 06:40 PM
What's cooking?
by Scoutgal
08/23/15 01:27 PM
Campaign 2016
by Scoutgal
08/23/15 01:06 PM
Detention without charge or trial
by Scoutgal
08/23/15 12:51 PM
Is Ted Cruz an American Citizen?
by Scoutgal
08/22/15 01:19 PM
American Revanchism
by Scoutgal
08/21/15 04:53 PM
Forum Stats
6003 Members
55 Forums
14899 Topics
254093 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), 13 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
xiawei, Marzman, kyleyoung8, Retread, solafeian
6003 Registered Users
A2