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MOP
05-22-2008, 11:04 AM
Google "known us oil reserves" it will blow your mind to find that we have so much oil!

mjw930
05-22-2008, 11:25 AM
Google "known us oil reserves" it will blow your mind to find that we have so much oil!

http://www.blm.gov/wo/st/en/info/newsroom/2008/may_08/NR_052108.html

Sobering read!

VetteLT193
05-22-2008, 11:37 AM
Average price paid for oil in the Reserve - $28.42 per barrel

cutwater
05-22-2008, 11:56 AM
Sobering read!

Yeah, it's kind of crazy that we'll use "eminent domain" in an absurd way to build a hotel because it brings in more tax dollars than the existing business...

http://en.wikipedia.org/wiki/Kelo_v._New_London

but we won't drill land that we already own, causing the American public to risk foreign dependence and economic stress. Hmm...

mjw930
05-22-2008, 01:29 PM
Yeah, it's kind of crazy that we'll use "eminent domain" in an absurd way to build a hotel because it brings in more tax dollars than the existing business...

http://en.wikipedia.org/wiki/Kelo_v._New_London

but we won't drill land that we already own, causing the American public to risk foreign dependence and economic stress. Hmm...

But the spotted howl and the caribou will always have a place to roam, even if it isn't called the USA 100 years from now.......

Sorry, but I honestly believe we risk the very existence of our country, as we know it, if we don't come up with some way to become less dependent on other countries for what equates to the life blood of our economy.

cutwater
05-22-2008, 01:57 PM
But the spotted howl and the caribou will always have a place to roam, even if it isn't called the USA 100 years from now.......

:)


Sorry, but I honestly believe we risk the very existence of our country, as we know it, if we don't come up with some way to become less dependent on other countries for what equates to the life blood of our economy.

I completely agree. I just think there is no reason to continue with such heavy foreign dependence during that time while we are transitioning to alternative fuels/power sources. Within a decade I think we can have some really good solutions. Why not use some of our own reserves during that time so we don't leave our economy so vulnerable to countries who export oil?

gcarter
05-22-2008, 02:09 PM
Hey guys, there's an election coming up..........
There's one way to vote and get more of the same, and another way and something be done about it.
Vote early and often.......


Is this political??????? :wink:


And even if it is political, it is the answer.

VetteLT193
05-22-2008, 03:15 PM
:)



I completely agree. I just think there is no reason to continue with such heavy foreign dependence during that time while we are transitioning to alternative fuels/power sources. Within a decade I think we can have some really good solutions. Why not use some of our own reserves during that time so we don't leave our economy so vulnerable to countries who export oil?

The biggest problem is the reserves sound big but really aren't that big. We have under 60 days worth of oil in them at the nation's current use rate. But, we can't get that much out of them per day so I think it winds up being about 6 months worth at a reduced rate.

The other issue is our reserves impact oil prices on a world wide level. So, even if we went buck wild and opened up the reserves at full bore, we wouldn't see the full impact. Furthermore, the prices of the reserve oil would probably still be 90% of current market prices.

So, if we were to unleash the oil reserves at maximum capacity (1/3 of our total use) and that 1/3 sells for even 80% of current price, by the time you are done factoring it all in we would only see a 5-7% decrease in prices at the pump.

The real way to get prices down is to drill for more oil so we are constantly buying less (or none) from overseas.

cutwater
05-22-2008, 03:30 PM
Sorry, I'm havin trouble getting everything out today! Again I agree, going back to my original post.

Instead of just "reserves" I should say American oil... our reserves + replenishing our reserves with new oil drilled from land the US already owns. And, all this supplementing foreign oil. I'm not saying we should completely quit doing business with oil-producing nations, just not completelybe dependent on them. I'm havin trouble making a coherent thought in this thread so I'm out. :wink:

vonkamp
05-22-2008, 04:20 PM
China is currently drilling for oil 90 miles off the Florida coast... :doh:

MOP
05-22-2008, 10:17 PM
The reserves these articles speak of are still in the ground right here, take the time to read more we have vast untapped reserves that in one article said enough for the next 140 years. The will be a new and complete report issued soon, the media needs to get on the band wagon. How many of you realize the fast rise in food costs are directly related to corn production, you had better believe the good old government is paying normal food farmers to produce corn there by cause food prices to soar! Something has to change and soon!

TOPSY II
05-23-2008, 06:23 AM
Ok...I'll jump in, WTH...Watching Neil Cavuto on FOX news the other day, and he was going off on the Saudi's..who just again, I might add, voted NO on increasing the supply of crude. As Neil put it, the next time they get themselves in a "jam" because of one of their Crazy Ass neighbors, let them figure it out, instead of giving us a "ring" asking for a little Military protection. Secondly: In another section of the broadcast, one of their financial analysts was discussing the role Speculators have played in the current price run up...( 35 - 40 %) of the current $127+ Price per barrel, back that out of the price and we're in the $76.50 - $82.50 Range. I know, I know it's free enterprise, but this is WAY beyond the pale.

Interesting also was the CEO's of the major oil companies, trying to explain away the fact that they collectively reported $38 BILLION in profits FOR THE QUARTER!!!!, and God only knows the Billions they hide via various tax programs, it would really be interesting to see what the CASH FLOW numbers report, forget the profit piece...I suspect it would blow our collective minds.

Just a little "fodder" for the Thread...( God I'm glad I've got a SBC in the Minx..she runs forever on a tank.

TOPSY II :shocking:

gcarter
05-23-2008, 06:34 AM
Ok...I'll jump in, WTH...Watching Neil Cavuto on FOX news the other day, and he was going off on the Saudi's..who just again, I might add, voted NO on increasing the supply of crude. As Neil put it, the next time they get themselves in a "jam" because of one of their Crazy Ass neighbors, let them figure it out, instead of giving us a "ring" asking for a little Military protection. Secondly: In another section of the broadcast, one of their financial analysts was discussing the role Speculators have played in the current price run up...( 35 - 40 %) of the current $127+ Price per barrel, back that out of the price and we're in the $76.50 - $82.50 Range. I know, I know it's free enterprise, but this is WAY beyond the pale.

Interesting also was the CEO's of the major oil companies, trying to explain away the fact that they collectively reported $38 BILLION in profits FOR THE QUARTER!!!!, and God only knows the Billions they hide via various tax programs, it would really be interesting to see what the CASH FLOW numbers report, forget the profit piece...I suspect it would blow our collective minds.

Just a little "fodder" for the Thread...( God I'm glad I've got a SBC in the Minx..she runs forever on a tank.

TOPSY II :shocking:
Cavuto yesterday had three people of the current party in control of congress on and he asked each about drilling OUR reserves and the standard answer was a resounding "NO". It wasn't gonna happen!
What is their problem? All of their solutions are going to take 20 years to filter down to some usefulness.

chappy
05-23-2008, 07:10 AM
Cavuto yesterday had three people of the current party in control of congress on and he asked each about drilling OUR reserves and the standard answer was a resounding "NO". It wasn't gonna happen!
What is their problem? All of their solutions are going to take 20 years to filter down to some usefulness.

Hopefully the rabble will make a statement in 6 months based on this thinking.

TOPSY II
05-23-2008, 07:45 AM
It also wouldn't hurt if the Fed would stop "monkeying around" with the good Old American Dollar, part of our problem ( aside from a bunch of greedy A- Holes in Washingon and Wall Street ) is our Dollar is trading at a historical low. Question: When was the last time if ever: That our Brothers to the North, could buy American products with their dollar on a par basis? Same goes for the EURO.. when that currency first hit the world banks it was trading at about .82 to the Dollar, I'm almost afraid to see what it's trading at today..my guess is around twice that. SO..with OPEC still pricing against the dollar, and the dollar not buying what it used to, OPEC ( and the speculators) keep hedging their bet...AND WINNING...BIG TIME by betting against the dollar and the Fed's unwillingness to do a damn thing to stablize it.

Time to go to work....Got to make a living somehow...even if it does require time off the water!

HAVE A GOOD DAY ALL.. If you haven't already done so, top off the tanks, it's only going to get worse according to all indications!

TOPSY II :eek!:


'86 Minx, Hull #59
'80 Bender Jersey Speed Skiff JS-74

Carl C
05-23-2008, 08:46 AM
Something really stinks with this whole oil thing.

Tiny Kuwait has one of the largest oil reserves on the planet and they owe their existance to us. Our military is still there, protecting them at our cost. Do we get a reduction in oil cost to off-set our expenditure there? Of course not.

Pretty much the same thing in Iraq. Iraq could be the 51st state if we wished it and our oil issues would be solved but no, we're pumping our money into rebuiding and protecting this country of cowards and we don't even get enough oil to pay for that?

George, yes the election is coming up and I'm not too crazy about the choices.

I hope this isn't too political.