Current Topics
Hamas is ISIS. Iran is ISIS. Netanyahu
by logtroll
Today at 06:30 AM
Round Table for Sept 28-Oct 4, 2014
by california rick
Today at 01:38 AM
Lax regulation by NY fed. Goldman tapes
by Ardy
Yesterday at 02:21 PM
A somewhat embarrassing realization about race
by NW Ponderer
Yesterday at 11:53 AM
Congress of Cowards
by NW Ponderer
09/28/14 11:35 PM
The World's First Genetically Modified Babies Will Graduate High School This Yea
by Ardy
09/28/14 06:49 PM
Middle east, ISIS/ISIL, Syria, Iraq - I don't get it
by jgw
09/28/14 04:10 PM
How Baldface Lying Prevails
by Ardy
09/28/14 12:30 PM
Defense of the GOP
by logtroll
09/28/14 12:27 PM
Round Table For Week Of September 20th-September 28th, 2014
by Ardy
09/28/14 12:09 PM
Space Station's '42' Crew Links Expedition to 'Hitchhiker's Guide'
by logtroll
09/28/14 03:34 AM
The Passing Parade: Obituaries: 2014
by Golem
09/27/14 02:44 PM
ISIS-ISIL-IS**Name it
by logtroll
09/26/14 11:47 AM
The GOP’s ‘not a scientist’ meme keeps spreading
by NW Ponderer
09/26/14 11:44 AM
Stats
by Ardy
09/26/14 12:07 AM
Forum Stats
6003 Members
55 Forums
14367 Topics
247766 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 (), 20 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
xiawei, Marzman, kyleyoung8, Retread, solafeian
6003 Registered Users
A2