Current Topics
Donald Trump has turned to scorched-earth campaigning
by Ezekiel
0 seconds ago
A fix for the SSTF
by Ezekiel
4 minutes 53 seconds ago
Campaign 2016
by pondering_it_all
Today at 02:42 AM
North Carolina county GOP office attacked; Trump blames 'animals'
by Irked
Yesterday at 11:38 PM
Can Trump the brand survive Trump the man?
by Irked
Yesterday at 11:15 PM
What does the United States Stand For?
by Irked
Yesterday at 10:52 PM
Whoa: Has the mystery of the Bermuda Triangle just been solved?
by Golem
Yesterday at 10:23 PM
The funniest meme of this election cycle
by NW Ponderer
Yesterday at 07:37 PM
Hedge Funds Hurt as Investors Remove $28 Billion in 3 Months
by pondering_it_all
Yesterday at 05:35 PM
by pondering_it_all
Yesterday at 03:45 PM
Rountable for Oktober 2016
by pondering_it_all
Yesterday at 04:23 AM
Trump's Trumpet
by Ken Condon
Yesterday at 01:25 AM
Republicans plan to continue SCOTUS nominee blockade
by matthew
10/20/16 09:39 PM
Poll: Who won the October 19, 2016 final presidential debate?
by Golem
10/20/16 03:05 PM
A Win /Win for Hillary AND the Ultra Progs...
by matthew
10/18/16 08:22 PM
Forum Stats
6177 Members
56 Forums
15494 Topics
267937 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

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...

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

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

#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!


Who's Online
0 registered (), 23 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
SyslexDan, Jerrydes, Gregor, PhepDune, Dawnterrorel
6177 Registered Users