Quote Originally Posted by dragonrider
Wow, 70% of the population was at a Pelosi event? I had no idea she could draw those kinds of crowds! And why wasn't I invited?
You know better than that. You know he was talking about 70% of the population that wants to drill. Not 70% of the population was there protesting.

(ps. I know you were just being sarcastic, was funny :thumbsup

Honestly though, I think these people are stupid. Oil is a dead resource, and even if we drilled all US oil reserves at maximum capacity, it wouldn't make a dent in the world supply or prices. There is definielty plenty of money to be MADE by oil companies by opening up more oil leases, but not much money to be SAVED by oil consumers.
Oil is not a dead resource but it is definitely a depleting resource. To assume that adding an additional 200k barrels a day to the world trade market would do nothing is prepostorous. It is true that American Alone would not put a dent in the price of oil if we were the sole suppliers. Luckily for us the rest of the world is pitching in also. Combined with our efforts and other countries efforts, yes... the price of oil will go down.

I work for an oil company now and have worked for a few others in the past. About those oil leases.. if there was enough oil under the leases, or even accessible oil, to where it was cost effective (meaning they would turn a profit) by drilling there then trust me.. they would've been drilling there already.

A lot of money is invested by oil companies to determine if an area is profitable to drill or not. You can't blame them for not drilling if they feel they won't make money off of it. They are a business, not a public service.


These are people who want to SAVE money who have been bamaboozled by those who want to MAKE money.
Last I checked the world market determined the price for a barrel of oil.