Bush ok's Gulf of Mexico Drilling

[Bill51]

i'm sorry, that doesn't work. you know why? because energy use is not stable in the future. rather, energy prices today dicate energy uses tomorrow. stable, cheaper prices today will lead to investment in energy-consuming areas, which will then increase the demand for more energy which will lead to higher prices.



lol i'm not saying it worked. i'm saying that if you want to really screw up the market, artificially inflate (ration) or deflate (added reserves) the price of avilable oil and you'll see what happens.

adding more reserves to the market will just lower the price of energy, which will increase consumption, which will drive supply down, which will lead to an increase in price all over again ... and all you've done is raise the baseline at which the need for oil rests

Trying to differentiate between cause and effect in historical markets is tough enough without trying to predict them in future markets, so we can agree to disagree on how they’d react to stabilized prices.

Raising the baseline price of energy will encourage conservation, but the problem is that if the baseline goes up and remains unstable it can damage the economy, while a stable baseline price can safely be higher without upsetting the rest of the economy.

The most important question is what will this do to the price of airfills and if the LDS goes out of business will it matter.

 

[Peter_C]

The reason you can’t find much about oil spills from offshore rigs is because there aren’t many – and none of any size. Since we started the current tracking system in 1980 there has been a grand total of 58,000 barrels of oil spilled due to offshore drilling in the entire continental US and territories with the largest single spill being in the neighborhood of 1,000 barrels.

Very true...but lets go back one year.
"The blowout of the Ixtoc I exploratory well offshore Mexico in 1979, the second largest accidental oil spill, gushed 140 million gallons of oil into the Gulf of Mexico. :shakehead

By comparison, the wreck of the Exxon Valdez tanker in 1989 spilled 11 million gallons of oil into Prince William Sound offshore Alaska, and ranks fifty-third on the list of oil spills involving more than 10 million gallons, yet is deemed to be the most environmentally destructive spill to date.

The largest accidental oil spill on record (Persian Gulf, 1991) put 240 million gallons of oil into the ocean near Kuwait and Saudi Arabia when several tankers, port facilities, and storage tanks were destroyed during war operations."

Personally, I am going to stay out of the arguement other than posting the facts above, as I am super passionate about our environment. Just so happened I posted those facts on another website regarding pollution and global warming.

Ok so I will add this, if they require proper containment booms set in place and at the ready, at least if they spill, they can contain it. Also requiring them to stop oil flow under certain conditions I.E. huricannes, could help prevent a possible disaster.

 

[havnmonkey]

Dude, the flintstones had it right... Foot powered vehicles, dinosaur construction machines, parrot answering machines...

 

[Bill51]

Very true...but lets go back one year.
"The blowout of the Ixtoc I exploratory well offshore Mexico in 1979, the second largest accidental oil spill, gushed 140 million gallons of oil into the Gulf of Mexico. :shakehead

By comparison, the wreck of the Exxon Valdez tanker in 1989 spilled 11 million gallons of oil into Prince William Sound offshore Alaska, and ranks fifty-third on the list of oil spills involving more than 10 million gallons, yet is deemed to be the most environmentally destructive spill to date.

The largest accidental oil spill on record (Persian Gulf, 1991) put 240 million gallons of oil into the ocean near Kuwait and Saudi Arabia when several tankers, port facilities, and storage tanks were destroyed during war operations."

Personally, I am going to stay out of the arguement other than posting the facts above, as I am super passionate about our environment. Just so happened I posted those facts on another website regarding pollution and global warming.

Ok so I will add this, if they require proper containment booms set in place and at the ready, at least if they spill, they can contain it. Also requiring them to stop oil flow under certain conditions I.E. huricannes, could help prevent a possible disaster.

Precisely the reason I prefer to see oil production taking place in the US rather than feeling the gasoline I purchase is being used to subsidize substandard oil production facilities. I find it amazing the progress that has been made in 25 years since we had more than 100 rigs damaged in Katrina and Rita without any spills.

I also did specify American drilling since the Ixtoc and a few others such as Funiwa very likely wouldn’t have happened even back then, let alone today under American standards.

 

[H2Andy]

i do know one thing:

the US economy needs oil like a crackhead needs crack

and we're gonna get crack one way or another, damn the consequences

 

[Bill51]

i do know one thing:

the US economy needs oil like a crackhead needs crack

and we're gonna get crack one way or another, damn the consequences

Maybe so, but what are the consequences if we don’t get oil?

 

[james croft]

Dude, the flintstones had it right... Foot powered vehicles, dinosaur construction machines, parrot answering machines...

Sounds like Afghanistan.

 

[johnnyseko]

Think they're gonna need a lot of helos to support those rigs! Hmmm and be based in FL instead of LA or TX...

 

[dlndavid]

Oh, and Andy, it is President Bush

 

[H2Andy]

Oh, and Andy, it is President Bush

this is a trick question, isn't it????