The USA has the largest fossil fuel reserves in the world,
Keep in mind, that doesn't include our off shore areas that are mostly unexplored. But yes, we are the world leader in reserves but not allowed. To drill for them. Go figure. Another liberal myth has gone down in flames.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
I find myself at a crossroads on this issue. We tout our reserves as if they are private, but we all know that the companies recovering that oil will present it onto the world market at the 'going price'. Supply and demand being what it is, I just don't see the price of a barrel of oil dropping very much, even if we started recovering this oil en masse and quickly. That being said...what's left ? Nationalizing the oil industry as a private supplier to the USA ? That's almost as distasteful as a 2nd obama presidency....
It effects the market. Yes the price needs to be high to make it recoverable. However, once it's profitable, it comes out of the ground. So that effect the price.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Don't forget that the high price of oil right now is pushed primarily by speculation, which is effected by political instability of the oil producing regions. If America can produce stability (through oil production) then the price of oil will go down.
Don't forget that the high price of oil right now is pushed primarily by speculation, which is effected by political instability of the oil producing regions. If America can produce stability (through oil production) then the price of oil will go down.
I agree. Apparently the price of orange juice rises immediately when a frost hits the orange groves in Florida even though the amount of orange juice on the market won't be affected until the next harvest. Even though the frost might not affect the crop at all.
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Proud parents of our own "Daddy's Little Girls"
I heard Jesus He drank wine and I bet we'd get along just fine.
I agree. Apparently the price of orange juice rises immediately when a frost hits the orange groves in Florida even though the amount of orange juice on the market won't be affected until the next harvest. Even though the frost might not affect the crop at all.
And the orange grove farmers get to know if it will be worth their while to plant more trees in the spring.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
I think planting more trees is a long-term investment. Any trees planted this year will not produce orange juice for quite a while.
That's what the futures market is all about. As an interested party to see a few oil wells drilled on a certain piece of property, I like the futures makets in Oil so high. It's showing the oil comapnies that if they invest the millions it costs to drill each well, they will not only recover their intial investment in "X" amount of time but also turn a profit and be able to pay the royalties when it comes out of the ground.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
That's what the futures market is all about. As an interested party to see a few oil wells drilled on a certain piece of property, I like the futures makets in Oil so high. It's showing the oil comapnies that if they invest the millions it costs to drill each well, they will not only recover their intial investment in "X" amount of time but also turn a profit and be able to pay the royalties when it comes out of the ground.
And if we start drilling like crazy, the prices on the futures market will decline and the price of oil will decline.
Even if we sell our oil on the open market the additional supply will drive down the price. Of course OPEC tries to keep the price up by limiting supply, but the self-interest of the producing countries tends to foil that strategy to an extent.
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Proud parents of our own "Daddy's Little Girls"
I heard Jesus He drank wine and I bet we'd get along just fine.
Didn't the Saudis just cut back production because there is too much oil on the market? If there is too much, why are the speculators pushing the prices up? I'd be looking at who is speculating for oil contract prices to drop around election time...
The USA has the largest fossil fuel reserves in the world,
