Current Topics
Hillary's private email motive
by Ezekiel
0 seconds ago
Let's check in on the cattle abusers, deadbeat grazers, wildlife squatter Bundys
by pdx rick
7 minutes 46 seconds ago
Campaign 2016
by pdx rick
Today at 02:04 PM
Trump's Trumpet
by Golem
Today at 01:59 PM
Bernie vs Trump Debate
by pdx rick
Today at 08:00 AM
Were the 1950s the Golden Age of Science Fiction Cinema?
by matthew
Yesterday at 03:47 PM
Round Table for May, 2016
by logtroll
05/28/16 11:41 PM
Bill O’Reilly So Sad No One Will Talk About The Murderous Blacks
by Greger
05/27/16 09:41 PM
The Secret History Of Isis
by matthew
05/27/16 06:13 PM
Memorial Day
by Ken Condon
05/27/16 02:44 PM
The men who live as dogs: 'We're just the same as any person on the high street'
by Greger
05/27/16 12:24 AM
Saudi Arabia
by matthew
05/25/16 09:20 PM
Miscellaneous humor thread
by Golem
05/25/16 01:36 PM
Restaurant owner found guilty of death by chicken tikka masala
by pondering_it_all
05/24/16 06:20 PM
Political Re-Alignment
by jgw
05/24/16 03:44 PM
Forum Stats
6151 Members
56 Forums
15255 Topics
261866 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
4 registered (Greger, rporter314, 2 invisible), 38 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
aqopi, PhillipEscavy, kongcheng, Kennethben, Andrewbelo
6151 Registered Users
A2