As I recall, President Bush has been accussed of basically being in control of oil/gas prices, "adjusting" prices for personal/pollitical gain, etc.
I wonder what those folks are saying now? Guess he just doesn't want to see McCain elected?
Surely the pricescouldn't have anything to do with the Dems blocking new drilling during a time when oil futures are going nuts due to China, India, etc. having a surge in their demand for oil........
Chad
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"We can have no '50-50' allegiance in this country. Either a man is an American and nothing else, or he is not an American at all."-- Theodore Roosevelt
A wise man's heart is at his right hand; but a fool's heart at his left. Ecclesiasties 10:2
The last four letters in American..........I Can
The last four letters in Republican........I Can
The last four letters in Democrats.........Rats
According to an analysis released last week by the Department of Energy (DOE), opening the Arctic National Wildlife Refuge (ANWR) to oil development would only slightly reduce America"™s dependence on imports and would lower oil prices by less than 50 cents a barrel.
The report, issued by DOE's Energy Information Administration, said that if Congress gave the go-ahead to pump oil from Alaska's Arctic National Wildlife Refuge, the crude could begin flowing by 2013 and reach a peak of 876,000 barrels a day by 2025.
But even at peak production, according to the EIA analysis, the United States would still need to import 66 percent of its oil, as opposed to an expected 70 percent if the refuge's oil remained off the market.
At the same time, the report says new Alaska production would stem the expected dramatic decline in domestic production and extend the economic life of the Alaska oil pipeline as production from other North Slope areas declines significantly.
But even the additional domestic production would not be enough to overcome increased demand, meaning continued heavy reliance on imports, the EIA says. Currently, the United States imports about 56 percent of the oil it consumes.
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We have ANWAR, a few coastal areas, and according to a fellow I talked with in the industry there are gobs of wells in TX that were drilled, struck oil, then capped and left. I don't pretend to know a lot about it, but I know enough to know we could do better.
IMO, it's a heck of a lot better thantapping into the national reserve.
Chad
__________________
"We can have no '50-50' allegiance in this country. Either a man is an American and nothing else, or he is not an American at all."-- Theodore Roosevelt
A wise man's heart is at his right hand; but a fool's heart at his left. Ecclesiasties 10:2
The last four letters in American..........I Can
The last four letters in Republican........I Can
The last four letters in Democrats.........Rats
We have ANWAR, a few coastal areas, and according to a fellow I talked with in the industry there are gobs of wells in TX that were drilled, struck oil, then capped and left. I don't pretend to know a lot about it, but I know enough to know we could do better.
IMO, it's a heck of a lot better thantapping into the national reserve.
Chad
I am far from an expert as well, but heard on the History channel that our current technology only allows us to get something like a 1/3 of the oil present in a well and that advances in technology would allow for a larger extraction. The Dakotas have a good chunk of oil and we could turn some of our worlds largets supply of coal into oil as well. We simply need to be on the ball with alternative fuels as well.
Wouldn't do much good to tap the national reserve anyway. There's only about a 30 day supply in it.
I agree.Alternative fuels is the way to go. The problem is that we are so far behind the 8 ball that it'll be years before we can make the complete switch. So for now, we are just going to have to deal w/the price of gas.
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"Yes, well, I’m polymerized tree sap and you’re an inorganic adhesive, so whatever verbal projectile you launch in my direction is reflected off of me, returns to its original trajectory and adheres to you." - Sheldon Cooper
What would you suggest he do? Lets hear your thoughts on what to do within legal presidential powers that would have kept the price of oil down or that would lower it from what it is today.
Interesting.......
