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Fuel drilling in Alaska & on coasts

What is everyone’s opinion about how this might help the price of gas? Duh! Duh!

tHX, Charlie

I don’t think it will affect the price of gas that much. It will probably help us break from our dependency on foreign oil, which is also the big problem.

Drill,Drill,Drill.The high price of gas is the force behind energy policy change.Sure I dont like to pay it,we have many options available to us in regards to energy.We need to embrace these options.Drill,Drill,Drill will not be a option forever.I like wind,solar and re-build the grid,store excess electricity and make hydrogen out of it.I have no hope we are closer to a answer after four more years have passed.Hope Iam really wrong.

It won’t help much, if at all. We’ll never again see gas prices back down in the $2/gallon range no matter what.

Ask again in about ten years when any oil found there starts to enter the supply line.

It might help for a few years, but nothing except conservation, population control, and finding new sources of energy will help for very long.

Start drilling now. The mere suggestion of it would drive down prices.
Kind of funny how people who don’t want drilling in ANWAR or off the coast have absolutely no qualms about using gasoline and a 1000 other petroleum products produced from drilling in other countries or off of their coasts.

First, lets burn up all the Arabs oil, then our grandchildren can worry about deep-water offshore drilling.

If you are looking for CHEAP OIL, you are not going to find any. All that fruit has already been picked…

As global DEMAND collapses because of price (demand destruction) prices will drop back to say $90/barrel, $3.30 a gallon. Because of this uncertainty, don’t expect a big rush of orders for billion dollar offshore drilling rigs…

Here is what I think.

Considering that the oil companies themselves are driving the cost of gas up by speculative buying and not building any new refineries and making sure no one else does…the off-shore drilling won’t effect the price of gas one bit.

We just had an elaborate post on this before, with few op[inion chnged. To restae some basic truths, whether you want to believe them or not:

  1. The US no longer has a major influence on world oil prices. Oil, like coffee, nickel, steel, etc. is an international commodity, and the demand is driven now mostly by the developing world in Asia and the Middle East.

  2. Us consumption of oil and oil derived products at over 20 million barrels a day is UNSUSTAINABLE, especially since 60% of this is imported, causing a $700 billion per year trade deficit, according to Boone Pickens. Forget about global warming for a while; the US dollar is under attack, and for financial survival, the US needs to both cut consumption and increase production. Drilling offshore is a very PATRIOTIC thing to do.

  3. Alternative fuel sources will make some impact, about 10% maximum in the near term and 15% in the longer term.

  4. All oil producing countries with coastlines drill offshore, where most of the remaining reserves are located. The US should drill offshore as well as in the Arctic.

  5. The statement that just driling will reduce prices is wishful thinking in its purest form! Any drilling will take 5 years or so to result in production, if successful. Foreign demand for oil is continuming to rise in the mean time.

  6. The floor price of oil is about $85/barrel; at this price development of marginal resources offshore, in the Arctic, and oil sands/shales is economical. The difference in today’s oil price and the floor price is fear, insecurity and “speculation” by investors. That’s why we have those wild swings in oil prices from $147 down to $127 in a short time. If the whole world goes into a recession, and political stability returns to such volatile countries as Nigeria, we could have $85 oil again. US drilling offshore and other frontier areas will help the economy , but it WON’T DO A THING FOR WORLD OIL PRICES!!!

Many oil fields already exist where oil is not being pumped----for political reasons.

So, drill near Cuba, where Castro might profit and become an “Ally”, like Zapata Oil Barons.
Actually, Castro might even share the profits with the Bush Dynasty, if Russia agrees.