Is New Drilling Going To Happen?

[bowtieguy]

i caught just a brief portion of TV news about possible new drilling in the US. and my internet provider news was about as much help as a 3 year old.

is the US going to tap new deposits on or off shore at home? what about freezing the fuel tax? can anyone update me?

[GasSavers_RoadWarrior]

Mebbe this?
http://www.wctv.tv/news/headlines/18364844.html

[bowtieguy]

having dial-up, it would have taken forever to load the "slumping economy video." however, the N Dakota/Montana deposit article is quite interesting.

it makes me wonder how safe and clean the lastest drilling tech is. and if the risk/reward is worth a shot at oil independence.

[theclencher]

I doubt any amount of drilling will provide U.S. "oil independence" as long as we keep up our outrageous consumption levels. IMHO the solution is going to have to come from the demand side, not the supply side.

[cems70]

Originally Posted by theclencher

I doubt any amount of drilling will provide U.S. "oil independence" as long as we keep up our outrageous consumption levels. IMHO the solution is going to have to come from the demand side, not the supply side.

I agree. We're never gonna drill our way out of oil dependence. And it's always always always cheaper to conserve than to add new supply, whether you're talking about oil, new power plants or water. The problem is the politicians are a bunch of p-r-o-s-t-i-t-u-t-e-s selling themselves to the oil companies, so they walk the Big Oil party line by furthering the "drill for more oil" agenda.

[VetteOwner]

that and most of the politicians have their hands in some of that "oil money" so more for them...

[bobc455]

Was reading a pretty interesting article on oil shale today

http://en.wikipedia.org/wiki/Oil_shale

The US has lots and lots of oil, it's just locked up in shale. But based on the numbers in this article, it seems that it is now economical to start doing this. A few other hurdles to overcome, but they do not seem insurmountable.

(Okay it's more "mining" than "drilling" but I think it's related)

Also, if we sourced our oil domestically, it would help reduce the trade deficit hence strengthening the dollar, which would lower the price of imported crude. (Stopping buying a ton of crap from China and Japanese cars wouldn't hurt either)

-Bob C.

[bowtieguy]

Originally Posted by bobc455

The US has lots and lots of oil, it's just locked up in shale. But based on the numbers in this article, it seems that it is now economical to start doing this. A few other hurdles to overcome, but they do not seem insurmountable.

Also, if we sourced our oil domestically, it would help reduce the trade deficit hence strengthening the dollar, which would lower the price of imported crude. (Stopping buying a ton of crap from China and Japanese cars wouldn't hurt either)

-Bob C.

THAT'S what i'm talkin' 'bout!

it is certainly d(ill)usional to believe that prices can be controlled on the demand side considering china, india, and other countries simply don't care AT ALL about conservation!

[theclencher]

It's delusional to think whatever oil enters the market, won't go to the highest bidder no matter where they are. Helloooo, china and india.

[bobc455]

Originally Posted by theclencher

It's delusional to think whatever oil enters the market, won't go to the highest bidder no matter where they are. Helloooo, china and india.

Are you saying that China and India would buy us-sourced oil instead of OPEC oil if it were cheaper? If so, this would be a fantastic thing to reduce the US trade deficit, and be one heckuva boost for the US economy.

According to the article China already refines its own shale, so they are a step ahead of us in that respect.

-BC