Quote Originally Posted by Lyle View Post
So if we were to strike oil like say BRAZIL did it would have no effect on oil prices?

If we were to build more refineries and produce more gasoline that would have no effect on prices?


Guys bomb pipelines in Nigeria and that bumps the price up but if we find and produce more oil the price will stay the same?!?!

That reasoning (if you can call it that) would mean that supply and demand have nothing to do with oil prices but actions like bombing pipelines have a lot to do with prices......oh and then there's that little deal where OPEC says it'll cut production therefore making the price go up due to the law of supply and demand.....but I suppose that's just a coincidence.


And OIL isn't the only thing worth drilling for Natural Gas is a big source of power which T. Boone Pickins wants us to use to supplement wind and solar power (because you need to supplement those kinds of power). But I suppose you don't figure they will find any of that here either.

Obama doesn't want ANY drilling and therefore we would be stuck waiting for the Energy Fairy to make us energy independent or have any remote effect on the price of oil......ooooh maybe he'll pull a Jimmy Carter and wear a sweater oh that would be awesome....and then maybe the government could control our thermostats....totally cool! Kirkland you think of everything, I should outsource my worries about the heat or cold to the government....what a load off my mind, now I can focus on important things like gun control and world peace
Oil that may come online in a decade has zero effect on current oil prices. What part of this don't you understand?

If Nigerian oil is taken off the market by pipeline attacks then that does affect the oil price, because that oil is currently being produced.

The US refiners don't want to build new refineries as it would cut their profit margins. They've been cutting refining capacity to increase profits for two decades now.

OPEC are cutting production because they're paid in dollars. Bush has printed so many dollars that they've halved in value so OPEC are demanding double the price to give them the same real income they used to have.

If you started drilling every single available US offshore field tomorrow the entire production, when it eventually hit the market, would have zero effect on oil prices because US domestic demand would have increased by far more than the new offshore production by the time it comes online. Offshore drilling is no answer whatsoever to the current energy crisis. It's completely irrelevant in the long term. That's why the Democrats aren't interested in it. If the media wasn't in the tank for the Republicans, they wouldn't let them make this bs offshore-drilling-is-the-answer argument/campaign policy. They'd call them on their bs and ask them if they had an energy policy that would actually be effective.

So if there's anything you still don't understand fully here let me know and I'll explain it more clearly.