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Exclusive: Saudi oil boost could calm markets: Senator Schumer (Rats begging for more foreign oil)
chicago tribune ^ | 2/26/2012 | Roberta Rampton/Reuters

Posted on 02/26/2012 6:37:45 AM PST by tobyhill

The United States should do more to encourage Saudi Arabia to boost its oil production to make up for lost Iranian oil, Senator Charles Schumer said on Sunday, urging renewed diplomacy as a way to ease the run-up in oil prices.

Tensions surrounding Iran's nuclear program have pushed oil prices to nine-month highs, and U.S. gasoline prices have surged, becoming a top political issue in the run-up to the 2012 presidential elections.

A public promise from Saudi Arabia, the world's top oil exporter, to pump oil at its full capacity would calm oil markets as well as gasoline prices, Schumer, the third-ranking Democrat in the Senate, said in a letter to Secretary of State Hillary Clinton.

In the letter, which was obtained by Reuters, Schumer asked Clinton to urge the Saudi government to increase production to full capacity of 12.5 million barrels per day - an increase of 2.5 million barrels.

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 02/26/2012 6:37:52 AM PST by tobyhill
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To: tobyhill
Saudi U.S. oil boost could calm markets: Senator Schumer (Rats begging for more foreign oil)

Fixed.

2 posted on 02/26/2012 6:41:59 AM PST by stboz
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To: tobyhill

I guess Chucky Skeemer missed the report last week that S. Arabia was considering cutting its oil output.

MEMO to Chucky: Take a bath in the pond scum you and your idol wish to promote as an alternative energy source.


3 posted on 02/26/2012 6:42:27 AM PST by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: tobyhill
it's spelled SCHWULER!!!

(Schwuler = Fag in German)

4 posted on 02/26/2012 6:45:04 AM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: Mouton

Barak is mean to the jews. I can see the saudis helping himout.


5 posted on 02/26/2012 6:45:34 AM PST by DIRTYSECRET
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To: tobyhill

maybe if he andBozo bow to the saudi king.


6 posted on 02/26/2012 6:46:42 AM PST by hecht (Murray use your coaster)
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To: tobyhill; All
Schmucky Schumer showing a lot of FEAR this week. First by his bizarre request to have AZ Gov. Jan Brewer appear at a kangaroo committee just one day before the SCOTUS oral arguments on S.B. 1070 - an obvious ploy to manufacture controversy to affect the court proceedings.

Now he begs the Saudis to pump more oil, as he realizes the GOP needs only 4 Senate seats to strip him of his Financial Chairmanship - his lifeline to Wall Street cash. And high gas prices would likely gain the GOP 6 or 7.

Democrat PANIC. It's a beautiful thing!

7 posted on 02/26/2012 6:53:31 AM PST by montag813
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To: tobyhill
Schumer & gun Pictures, Images and Photos
8 posted on 02/26/2012 6:55:14 AM PST by Snickering Hound
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To: stboz

I wish it could be that simple. To just change a word and double domestic production. But the facts are, if we were even able to double domestic production, it would not be enough to meet the demand.

We could triple the number of drilling leases and rigs and after a period of 5 years has passed, we would still be needing to import half of what we use. Our oil reserves here, are grossly over stated.

The recovery rate and the infrastructure to transport it, plus the cost to produce it, cannot even come close to what is being produced in foreign countries.


9 posted on 02/26/2012 6:55:39 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: Snickering Hound
I guess he doesn't realize he has it turned the wrong way.

/sarc

10 posted on 02/26/2012 6:57:13 AM PST by tobyhill
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To: montag813

I don’t get it. Business is way down, so people aren’t driving as much, and burning as much oil. Iran quit sending oil to some of it’s customers, so there should be more elsewhere if it’s not going to where it used to go. Oil inventories are reportedly as full, but the price is going up. wt*? What’s going on w/oil prices is not going to last, IMHO.


11 posted on 02/26/2012 6:58:37 AM PST by stickywillie (a corrupt parallel universe exists beside our wonderful Constitution)
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To: stboz

You beat me to it...

Our own oil.


12 posted on 02/26/2012 7:00:03 AM PST by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: tobyhill

Commodities rarely participate in a free economic market as do manufactured widgets.

If one had a business where profits go up if production is reduced, because it creates shortages, would I be in a hurry to increase production because of what the politicians or the public wants?

Once the upward rise in price starts, it goes up even faster because the trend is the friend of investors and speculators will buy futures contracts of the product increasing demand. The reverse works too as it did with gold in the early 2000s when the miners sold their production forward to keep their head above water and maintain the POG.

If I sound like a cynical SOB it’s because I am. I’m not unconvinced that the situation to maintain tight supply in oil hasn’t been helped along for the last 10 years, from the Iraq War, Arab spring, Libya and now Iran. If some entity had the ability to make hundreds of billions off of world situations by creating shortages, would it happen?


13 posted on 02/26/2012 7:03:14 AM PST by apoliticalone (Honest govt. that operates in the interest of US sovereignty and the people, not global $$$)
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To: PSYCHO-FREEP
With fracking technology we the U.S. have more oil than the rest of the world. That's just oil. We also have more natural gas, oil shale , coal etc.

But Obama, the democrats and the EPA won't let us get to our own oil , our own resources and they won't let us even manufacture our own products. So we are dependent on Muslim countries for oil and on China for everything else .

http://www.tampabay.com/news/perspective/next-up-for-fracking-oil-fields-in-america/1213696

It's madness that we depend on these people for our oil when we have endless supply of shale oil, oil under shale, oil , natural gas , coal, nuclear etc. But Obama won't let us use any of it. Palin was right “Drill baby Drill”.

Vote this marxist Obama and his EPA out of office.

14 posted on 02/26/2012 7:04:50 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: tobyhill
Saudi oil boost could calm markets: Senator Schumer

No, Schmuckie, a Saudi oil boost would NOT calm markets because as soon as the Saudis increase oil production Ben Bernanke would print up a new batch of money and it would negate the tiny amount of oil that the Saudis could produce.

Schmuckie, if you want to boost oil supplies you need to tell Ken Salazar to open up more US land for drilling which would allow for the money spent on foreign oil to stay in America.

15 posted on 02/26/2012 7:05:06 AM PST by NRG1973
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To: stickywillie
You just do not understand this industry. The reason prices were so low for so long, (earlier this year) was due to a surplus of refined (distillate) product. The price per barrel was going up and prices at the pump were actually, still going down. Now that the inventory of both commodities has become equalized, you are starting to see normal cost/price ratios again. In all reality, we should have been seeing this months ago.

The treat of instability in the Middle East is also causing many countries to begin stock piling a reserve through out the World. You are mostly relating to things as they appear in the USA.

If and when this thing in Iran, etc, erupts, you will be wishing for the days when you “only” had to pay $4.50 per gallon.

16 posted on 02/26/2012 7:10:29 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: PSYCHO-FREEP
Depending on how you look at things... Investing in our own oil infrastructure could do wonders for our country long term. The oil is there, we need the refining capacity and infrastructure... OMG...looks could that be those shovel ready jobs? We can do it, if we want too...


17 posted on 02/26/2012 7:11:31 AM PST by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: Democrat_media; All

RUSH:

They also say that the United States only has 2% of the world’s oil reserves. With fracking, it is now established that we have what could be the largest deposits of oil in the world. This 2% business, they use that because when you say that we only have 2% of the world’s oil reserves, people think, oh, you want to get 2% of the world’s oil in the ground. No. That’s not what reserves means. They pointed it out at Power Line. Reserves, the definition of reserves, is controlled by securities law, not geology. Oil isn’t counted as part of our reserves unless it’s legal to extract it and economic to extract it. What it means is only 2% of what we got can we legally go get. That what we have we can’t legally go get because of Democrat policies. That’s what it means.

http://www.rushlimbaugh.com/daily/2012/02/24/we_need_a_pond_scum_czar


18 posted on 02/26/2012 7:11:47 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: tobyhill
What a buffoon, licking the boots of his Saudi Masters (it's his issue not mine), rather than allowing anyone by efforts or shear luck (having land with minerals) acquire wealth without him interceding and being the gate-keeper.

The real irony of it is his state is rich with Shale Gas.

Tangent to this is a plethora of advances in the drilling and extraction arena and application tech, i.e. LPG for Auto and Trucks.

These forces could literally be a paradigm changer and like the information age, we could have the Nat-Gas age and it could occur within States like NY, where it becomes energy independent as a State, and Chucky Baby will be sitting their with his fingers in his ears and never had a part in making it a reality. What a Putz..

19 posted on 02/26/2012 7:12:36 AM PST by taildragger (( Palin / Mulally 2012 ))
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To: EBH

RUSH Limbaugh:

“They also say that the United States only has 2% of the world’s oil reserves. With fracking, it is now established that we have what could be the largest deposits of oil in the world. This 2% business, they use that because when you say that we only have 2% of the world’s oil reserves, people think, oh, you want to get 2% of the world’s oil in the ground. No. That’s not what reserves means. They pointed it out at Power Line. Reserves, the definition of reserves, is controlled by securities law, not geology. Oil isn’t counted as part of our reserves unless it’s legal to extract it and economic to extract it. What it means is only 2% of what we got can we legally go get. That what we have we can’t legally go get because of Democrat policies. That’s what it means.

http://www.rushlimbaugh.com/daily/2012/02/24/we_need_a_pond_scum_czar


20 posted on 02/26/2012 7:12:46 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: tobyhill
Entire Saudi delegation walked out of the 'Friends of Syria' meeting in Tunis. They're pissed because no one is helping the Syrians avoid Assad's "killing machine." Guess Saudi Army has no lift capacity? How about asking Jordan if they can't drive down the highway to Syria? Ain't that difficult...

On a lighter note, the co$t of bratwurst has tripled in Nuremburg, Germany due to the fact the sausage skins are from Iran and there is a shortage of them....

21 posted on 02/26/2012 7:14:12 AM PST by donozark (A soldier lives as long as he is remembered...)
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To: tobyhill
Saudi's and others = Lucy.

Libtards (speaking for America's "interests") = Charlie Brown.

Besides, if demand is down, yet prices continue to rise, how does the fool think a little more will help?

22 posted on 02/26/2012 7:14:33 AM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: PSYCHO-FREEP

Well, then I guess I don’t understand the industry very well either. We’ve been wanting more production in our own country for WAY longer than 5 years, but the Libtards always say what you say. If we’d started twenty years ago, would we still not have enough supply to meet demand? 30 years ago?

If we keep using the same libtard argument that “five years of increased production won’t fix anything, therefore we shouldn’t start,” then we are damned determined to ONLY import energy. We remain damned determined to live by the whims of foreign regimes that don’t necessarily like us. We remain damned determined to put the future of America in the hands of our enemies. Is that a plan?

Alternatively, if we go ball-to-the-wall to develop any and all oil, NG, and other energy sources with an intent to be 100% self-sufficient, do you think that would be a better plan?


23 posted on 02/26/2012 7:21:13 AM PST by Big Giant Head
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To: tobyhill

Every time the US “encourages” something from an unfriendly country, it ends up costing the taxpayers billions and makes the situation worse, not better.


24 posted on 02/26/2012 7:21:49 AM PST by Fresh Wind ('People have got to know whether or not their president is a crook.' Richard M. Nixon)
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To: Democrat_media
You are merely regurgitating what you have heard some other poorly educated editorial had to claim.

You simply are ignorant of what is really going on in our Domestic Oil industry. The reason we have to Frack, is due to the fact that the producing formations are so poor and yield so little.

Another aspect of fracking is, it only gives a temporary boost to production, but that gain, falls off rather quickly. The initial depletion to the overall target formation, reduces overall production yields through out the entire field as well.

Where every you see the term “Fracking” being used, it simply means that without it, that formation did not have the ability to make production possible or profitable. And even that aspect is very limited.

As far as total volume of oil on this continent, most of it is not producible and recovery rates are very low. You have been misled into thinking that the total overall estimates of hydrocarbon volumes under the continent are 100% producible, when they are not even 20% producible.

25 posted on 02/26/2012 7:23:37 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: Big Giant Head
Just the announcing of the Pipeline approval or more oil drilling, or fracking technology approval all in the U.S.A would lower prices today.

Come on Sarah Palin , run , become president, drill baby drill and banish Obama to ANWAR.

26 posted on 02/26/2012 7:24:23 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: taildragger

Chuckie has probably done as much as any person in America to get us where we are.

Pray for America


27 posted on 02/26/2012 7:24:23 AM PST by bray (More Batting Practice for the Bambino)
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To: Democrat_media

A Rebuke to Our Rudderless President
powerline.com ^ | 2/25/12 | John Hinderaker

Posted on Saturday, February 25, 2012 2:01:43 PM by CitizenM

President Obama has proclaimed himself helpless in the face of gasoline prices, which have doubled on his watch. He is just fated, apparently, to be a lousy president. Now that it is a little late to try to blame his predecessor, he is out of ammo. Today Senator Jeff Sessions tried to buck Obama up with a letter containing suggestions as to how the executive branch might take arms against a sea of rising gas prices, unemployment and poverty:

The Honorable Barack Obama
President
The White House
Washington, DC 20500

Dear Mr. President:

I am writing today to urge your Administration to take overdue but necessary action to confront soaring gasoline prices. In the last three years, gas prices have doubled, draining the disposable income of millions of hardworking Americans. In 2011, the typical U.S. household already spent $4,155 on gasoline, almost 10 percent of their income. Yet some analysts now predict prices may rise this year to more than $5.00 per gallon.

In a speech this Thursday, you stated that “there are no quick fixes to this problem. You know we can’t just drill our way to lower gas prices.” While we should explore a variety of energy resources—most especially those which do not put taxpayer dollars at risk—I respectfully disagree that we cannot utilize our remarkably vast untapped energy reserves to provide Americans with much-needed relief. I reject the defeatist view that says the nation that won two world wars, pioneered space travel, and overcame the Soviet Empire is now helpless in the face of high prices at the pump. We are not at the mercy of dictators, cartels, and events beyond our control.

Simply by removing the bureaucratic barriers imposed by your own administration we can begin to make progress. But we can go much further than that. Powerful action to harness America’s untapped oil and gas resources would place downward pressure on prices and speculation in the short-run and, by surging global supply, would serve to keep prices low in the future. Crucially, it would also provide millions of Americans with good-paying private-sector jobs; produce substantial royalties for local, state, and federal governments; reduce our enormous trade imbalance; and put an end to our huge wealth transfer from America to competitors oversees.

I therefore recommend the following proposals for immediate implementation:

1. Restore the bipartisan 2010–2015 offshore lease plan to ensure that the 31 lease sales called for in that plan are completed expeditiously. Your Administration only directed one lease sale in 2011 and has announced just one lease sale for 2012, far short of the number of sales that would have occurred over this period under the original 2010–2015 plan that your Administration discarded.

2. Take all necessary steps to accelerate the leasing and permitting process for domestic shale oil production. The United States has recoverable shale oil reserves estimated at 800 billion to 1.2 trillion barrels, meaning our nation has potentially three to four times more recoverable oil than any other country in the world except Canada.

3. Maximize energy production from federal lands. As I and 21 other Senators noted in a January 25, 2012 letter to you, actual oil production on federal lands is now just 714 million barrels per year, a 16 percent decline from what was projected just five years ago. This decline must be reversed.

4. End the de facto moratorium on permitting for offshore oil and gas production.

5. Direct the EPA, the Department of Energy, and other federal agencies to grant all necessary waivers and approvals to oil and gas refineries to facilitate maximum production at minimum cost. Refinery expenses comprise 11 percent of the price for gasoline that Americans pay at the pump, but your Administration has imposed numerous regulations that have driven refining costs up, not down.

6. Abandon your proposal to increase taxes and fees levied on U.S. energy production by more than $40 billion. These additional costs would be passed along to consumers, taking money out of their pockets and discouraging needed domestic production.

7. Approve the Keystone XL pipeline and grant necessary waivers, licenses, and permits, where possible, to ensure expedited completion of this important North American energy project. The pipeline would carry 700,000 barrels a day to U.S. refineries, which is nearly half what the U.S. currently imports from the entire Middle East.

America has the potential to fundamentally shift the balance of power in global energy production—to produce more energy, more efficiently and more cheaply, than your Administration has recognized. Such bold steps will broadcast an unmistakable signal to the world that not only places downward pressure on prices in the near-term but helps deliver a future of abundant, affordable energy. Moreover, unlike costly short-term stimulus, achieving energy independence would provide long-term relief to both struggling families and our indebted treasury.

I look forward to working with you on this important matter.

Very truly yours,

Jeff Sessions
U.S. Senator


28 posted on 02/26/2012 7:24:27 AM PST by darylmh (new workers, new prisons)
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To: PSYCHO-FREEP

Just the announcing of the oil Pipeline approval, more oil drilling in the U.S., and fracking technology approval in the U.S.A would lower prices today. You sound like the liberal media. How does it feel to be a mindless slave of the mainstream liberal media?

Come on Sarah Palin , run , become president, drill baby drill and banish Obama to ANWAR.


29 posted on 02/26/2012 7:27:44 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: Big Giant Head

The extremely high cost to drill isolated and vastly dispersed wells, and the ability to transport it, added to the extremely low recovery rates, will not allow that to happen.


30 posted on 02/26/2012 7:29:34 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: PSYCHO-FREEP

The Germans made oil/or gasoline from coal in the 1930’s . And you say we have no means to boost gasoline production.that’s ridiculous. The U.S. has unlimited amounts of oil, coal, natural gas, shale oil,oil,offshore oil, oil,nuclear under shale etc. : All of those have been stopped by democrats, Obama and the mainstream media.

http://www.rushlimbaugh.com/daily/2012/02/24/we_need_a_pond_scum_czar


31 posted on 02/26/2012 7:35:16 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: Democrat_media
The Oil pipeline you speak of is mainly for the ability to buy oil from Canada.

And accusing me of being a “mindless slave of the liberal media” because you are mainly an uneducated expert on all things you know even less about, merely shows how grossly ignorant you are.

You are talking to a Drilling Engineer and Consultant for the industry for over 35 years, I happen to be one of those individuals who not only helped develop Fracking technology. I helped pioneer North Dakota, Alaska (Prudhoe Bay) and I am now deeply involved in the Marcellus Shale district in West Virginia, Pennsylvania and Ohio.

So go ahead, try and insult me some more on a subject I have helped create. And believe me, you know almost nothing about, other than what you get from editorial comment.

32 posted on 02/26/2012 7:42:34 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: PSYCHO-FREEP
The Germans made oil or gasoline from coal in the 1930’s . And you say we have no means to boost gasoline or oil production.That’s totally ridiculous. The U.S. has unlimited amounts of oil, coal, natural gas, shale oil,oil,offshore oil, ,nuclear, oil under shale etc. : All of those have been stopped by democrats, Obama and the mainstream media. You aid the liberal mainstream media with your lies.

http://www.rushlimbaugh.com/daily/2012/02/24/we_need_a_pond_scum_czar

33 posted on 02/26/2012 7:45:11 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: donozark; tobyhill

Oops! Regret I failed to state the Saudi’s may be reticent to increase production in an effort to get Uncle Sam/NATO to act on Syria in a meaningful (military) way. Sorry-Post 21 makes not much sense without this statement...


34 posted on 02/26/2012 7:46:38 AM PST by donozark (A soldier lives as long as he is remembered...)
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To: PSYCHO-FREEP

Just the announcing of the oil Pipeline approval, more oil drilling in the U.S., and fracking technology approval in the U.S.A would lower prices today. You sound like the liberal media.

They would lower the price of oil today based on future events like the pipeline construction.


35 posted on 02/26/2012 7:49:39 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: Democrat_media
[The Germans made oil/or gasoline from coal in the 1930’s . And you say we have no means to boost gasoline production.that’s ridiculous.]

You might consider a course in Reading Comprehension. Not only do you get things that you read, terribly wrong, you go out of your way to insult those who you do not agree with.

Where on Earth, did I say even one word to you about not having the means to boost gasoline production? And the Germans did not make “oil” out of coal. They created a process to extract methane distillates and synthetic lubricants from it, but the process is highly expensive and not very profitable when Crude Oil is so plentiful.

Looks to me, like you need to refresh your knowledge about the Oil industry from “experts” like Rush Limbaugh. Those of us who actually make a living doing this, as well as have made a lifelong career out of it, certainly don't know what they are talking about. /S

36 posted on 02/26/2012 7:59:04 AM PST by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: PSYCHO-FREEP

Wow, hurt the “expert’s” feelings.LOL. Guess we shouldn’t criticize Obama’s team of “expert” advisor’s ,nor the media’s nor the global warming scientists since they know so much bs and are running the country into the ground. Take your “expert” liberal media spin and email it to a global warming expert. LOL. You say the same thing the liberal media say “believe us and our experts and don’t believe your own mind”. . Your “arguments” are the same as the liberal media’s are.

Let your liberal media ideas stand on their own merits don’t try to destroy me as the media destroys Palin. Attacking the messenger when you should know and most here on this forum agree with me that we should and could drill for more oil,pipeline, coal , etc. and announce these so they lower the price TODAY.


37 posted on 02/26/2012 8:04:22 AM PST by Democrat_media (China is destroying all our jobs and manufacturing ability. China makes everything.)
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To: PSYCHO-FREEP
You didn't answer my question:

Alternatively, if we go ball-to-the-wall to develop any and all oil, NG, and other energy sources with an intent to be 100% self-sufficient, do you think that would be a better plan?

Are you saying that if we announce a full-throttle approach to producing any and all energy, oil, gas coal, etc. that it's too expensive and therefore America won't do this? I respect your experience in the field, but I cannot accept the premise that we won't do it.

38 posted on 02/26/2012 8:07:17 AM PST by Big Giant Head
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To: PSYCHO-FREEP

Then why did oil immediately plunge in ‘08 when all that happened was that we said we were going to drill domestically? And prices were NOT “so low” earlier this year. I live in Missouri/Kansas, and prices for regular were $1.49, and still falling, when der reader was elected. And we can’t even prospect for oil on most of America, because it’s not privately owned.....I submit to you, that prices for oil are going to drop drastically before November, because zero knows that will kill him for sure...his fellow democrats are already wining about it.


39 posted on 02/26/2012 8:07:34 AM PST by stickywillie (a corrupt parallel universe exists beside our wonderful Constitution)
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To: PSYCHO-FREEP

But isn’t it better to produce as much domestically as possible? I’m actually shocked the Saudi’s announced a production cut...I thought they would do a momentary flood of the market, and push the per barrel price lower than US production costs - just to show us they could, and make people think twice about investing in domestic production. But since they have gone the other route, shouldn’t our Federal government approve leases, and encourage domestic production? At very least, even if it doesn’t push down price, won’t the coffers of our bankrupt government at least get royalty for each barrel extracted on federal land? And at very least, expanded domestic drilling equals jobs. And then there’s this possibility: the Saudis aren’t flooding the market....because they can’t. We may be overstating the extent of very easy to recover oil, in Saudi. And, I suspect that they are actually behind the rest of the world in their ability to recover deeper oil. Who knows. But, I’m with the group here. If it costs the Saudis 30 dollars, and the US 80 dollars, and the price is at 105 dollars....why call for an increase in Saudi production, but not US production....US production certainly wouldn’t hurt. And, btw, if our reserves are overstated and mis-understood, so be it. That means an increase in domestic production would have an unwarranted effect on an un-informed futures market, which would not be all bad.


40 posted on 02/26/2012 8:12:01 AM PST by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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To: tobyhill; All

Yesterday we saw stories about Dems literally BEGGING Obama to raid the SPR, today we see this.

Democrats know and understand that high gas prices this spring, mean DOOM for Democrats in November.

NOTHING matters but winning in November for Dems, no matter the cost to America.


41 posted on 02/26/2012 8:13:01 AM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: tobyhill

Tomorrow Chuckie will be bewailing our trade deficit and how it is all the Republicans fault.


42 posted on 02/26/2012 8:26:12 AM PST by Henry Hnyellar
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To: PSYCHO-FREEP

Sure you are. That’s why you post incomplete sentences. You are obviously a genius.

“I happen to be one of those individuals who not only helped develop Fracking technology. I helped pioneer North Dakota, Alaska (Prudhoe Bay) and I am now deeply involved in the Marcellus Shale district in West Virginia, Pennsylvania and Ohio.”


43 posted on 02/26/2012 8:30:25 AM PST by Henry Hnyellar
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To: tobyhill

Hey Upchuck, we don’t need any more earthwarming fossil fuels.
Our house is self-sustaining, we just need to scrape the green algae
from the walls of our goldfish tank daily. The One said so. Gotta go,
I want to take a picture of that flying unicorn that just went by.


44 posted on 02/26/2012 8:30:44 AM PST by rfp1234 (RFP's Law: Whoever blames Bush first shall lose the argument.)
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To: stickywillie
The price of oil is going up because the dollar is dropping in value. Plain and simple. It is simply caused by QE 1 and QE2 and the Bernakie loaning 14 Trillion to unknown global banks. The Saudis know this and the price is attached to the dollar.
45 posted on 02/26/2012 8:31:07 AM PST by Chancelot
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To: PSYCHO-FREEP

That is why we need to pass the natural gas act and start the process of building and converting vehicles to run on either gasoline or natural gas,

It would be easier to significantly cut the demand for gasoline to the point it drops the need for some of the imported oil. Just having the option means motorists can avoid buying gasoline every time the price heads for the stratosphere. It would be nice for those who continue with gasoline only vehicles to know gasoline prices couldn’t be raised with impunity on Memorial Day and Labor Day or during the summer drive season.

Using natural gas for vehicle engines is old technology. A local individual converted his own vehicles years ago.


46 posted on 02/26/2012 9:42:13 AM PST by meatloaf (Support House Bill 1380 to eliminate oil slavery.)
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To: PSYCHO-FREEP

Fracking has been used for a long time even on shallow wells. After that, well tenders monitor the flow. Over time the wells need to be worked over to remove the water and other material that starts to fill the well. That keeps the output up. A good well tender can maintain a constant level of production over a long period of time.


47 posted on 02/26/2012 9:47:50 AM PST by meatloaf (Support House Bill 1380 to eliminate oil slavery.)
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