Average Gas Price over the last 6 Years...

[taterhill]

Awesome

[PTS]

It is getting ridiculous. Especially since more and more scientists are now saying Oil is a renewable resource and not a fossil fuel like once thought. Hell they keeping find new and extremely large oil fields everywhere. Google North Dakota Oil.

 

I don't understand why we can't just use our own home-drilled oil and tell OPEC we'll only buy from them for X dollars per barrel. Anything more than that, they can kiss our ass as we'll just continue to use our own oil until we can replace it altogether. Aren't we the #1 demander? Can't we put our foot down at some point?

 

Or should we just keep sending heaps of money to terrorists?

[erynthered]

The only way we're going to get past the whining liberal tree huggers and start drilling in the places we KNOW have oil reserves, is when gas hits about 8 dollars a gallon. Then some people wont be caring about a !@#$ing Caribou in Alaska. Or even using new Technology to remove oil from shale could give us 1.5 trillion barrels of oil. Thats a with a !@#$ing T. The billions in the Dakotas. The Gulf of Mexico. !@#$!!! Only Then we could tell OPEC and the rest of them to go !@#$ themselves.

 

Rant over.

[Fan in San Diego]

The only way we're going to get past the whining liberal tree huggers and start drilling in the places we KNOW have oil reserves, is when gas hits about 8 dollars a gallon. Then some people wont be caring about a !@#$ing Caribou in Alaska. Or even using new Technology to remove oil from shale could give us 1.5 trillion barrels of oil. Thats a with a !@#$ing T. The billions in the Dakotas. The Gulf of Mexico. !@#$!!! Only Then we could tell OPEC and the rest of them to go !@#$ themselves.

 

Rant over.

 

You have my vote ! Lets fire up them shale deposits !

[Chilly]

You have my vote ! Lets fire up them shale deposits !

 

I bet you'd love it if Texas didn't get any either.

[Fan in San Diego]

I bet you'd love it if Texas didn't get any either.

 

Yup.

[GoodBye]

What ever happened to the electric car?? Wouldn't that solve the gas problem?

[Fan in San Diego]

What ever happened to the electric car?? Wouldn't that solve the gas problem?

 

There are a few good small electric cars around. Knock on them is small range and low speed and very small. Good for local errands. But heh, it helps.

 

I'm getting a hybrid next.

[RayFinkle]

The only way we're going to get past the whining liberal tree huggers and start drilling in the places we KNOW have oil reserves, is when gas hits about 8 dollars a gallon. Then some people wont be caring about a !@#$ing Caribou in Alaska. Or even using new Technology to remove oil from shale could give us 1.5 trillion barrels of oil. Thats a with a !@#$ing T. The billions in the Dakotas. The Gulf of Mexico. !@#$!!! Only Then we could tell OPEC and the rest of them to go !@#$ themselves.

 

Rant over.

Do you know how much it would cost to extract oil from Alaska or squeeze it out of shale? The reason it hasn't been done isn't because some hippie is crying, it is because it isn't cost effective. You honestly think some tree hugger could stop big oil?

[erynthered]

Do you know how much it would cost to extract oil from Alaska or squeeze it out of shale? The reason it hasn't been done isn't because some hippie is crying, it is because it isn't cost effective. You honestly think some tree hugger could stop big oil?

 

 

You do realize that if we did get all that oil I described we would be the biggest oil producers in the world. Therefore exporting it. Then maybe keeping the price of it affordable for us peons.

 

 

WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!

[stuckincincy]

Do you know how much it would cost to extract oil from Alaska or squeeze it out of shale? The reason it hasn't been done isn't because some hippie is crying, it is because it isn't cost effective. You honestly think some tree hugger could stop big oil?

 

Well then - give us details as to why it's not cost effective.

[Joe Miner]

Well then - give us details as to why it's not cost effective.

 

Things that were not cost effective for oil companies when oil was $15/barrel, became cost effective for them long before oil hit $124/barrel.

[RayFinkle]

Well then - give us details as to why it's not cost effective.

If we cut ourselves off from foreign oil and drilled up in Alaska, the amount of oil up there would not even last the US two years, and that is if you use VERY generous estimates. There just isn't that much up there. People think it is our own private Saudi Arabi up north. It isn't.

[DC Tom]

Things that were not cost effective for oil companies when oil was $15/barrel, became cost effective for them long before oil hit $124/barrel.

 

Shale oil, with current technology, becomes economically viable at around $140-180, I believe.

 

Drilling for Alaskan oil is a political decision...and the Alaskan reserves wouldn't make a dent in the price without conservation measures anyway (i.e. burn less so a greater proportion of what we burn is Alaskan...AND so we have the refinery capacity to do something about it, since there isn't available refinery capacity to refine the Alaskan reserves anyway).

[stuckincincy]

Things that were not cost effective for oil companies when oil was $15/barrel, became cost effective for them long before oil hit $124/barrel.

 

Yep...same to whatever degree, for shale and oil sand extraction, and coal gassification. Unfortunately, our western low-sulfur coal reserves were declared off-limits in payment to James Riady and his Indonesian company, the Lippo Group, to protect the prices of its' low-sulfur coal in exchange for campaign contributions to the Clinton camp.

 

Those Democratic Senators that obfuscated the corruption hearings, and the Republican Senators that laid down and didn't raise h*ll were a slap to our Constitution they claim to respect and follow, IMO.

[Mr Info]

Highest and lowest global gas prices

 

In some cases, the lowest (i.e., Venezuela) are subsidized.

[Joe Miner]

Shale oil, with current technology, becomes economically viable at around $140-180, I believe.

 

Drilling for Alaskan oil is a political decision...and the Alaskan reserves wouldn't make a dent in the price without conservation measures anyway (i.e. burn less so a greater proportion of what we burn is Alaskan...AND so we have the refinery capacity to do something about it, since there isn't available refinery capacity to refine the Alaskan reserves anyway).

 

Many oil wells in the past were cut off after only getting X% from the well, because of equipment and techniques that were needed to get the harder to reach oil in those wells. When the price of oil goes up, some of those wells are able to be reevaluated and made to produce more oil.

 

Shale oil is like a hydrogen car. Possible, but really expensive today. But the costs will eventually come down for both.

 

Don't forget about offshore drilling in the Gulf. The senior citizens in Florida don't want to be able to see (as if their eyes are actually that good) a rig 50 miles off the cost.

 

Refining capacity is something that desperately needs to be increased. But like many things, no one wants one in their backyard.

[Steely Dan]

It is getting ridiculous. Especially since more and more scientists are now saying Oil is a renewable resource and not a fossil fuel like once thought. Hell they keeping find new and extremely large oil fields everywhere. Google North Dakota Oil.

 

I don't understand why we can't just use our own home-drilled oil and tell OPEC we'll only buy from them for X dollars per barrel. Anything more than that, they can kiss our ass as we'll just continue to use our own oil until we can replace it altogether. Aren't we the #1 demander? Can't we put our foot down at some point?

 

Or should we just keep sending heaps of money to terrorists?

 

Let's see the excuses are;

 

1. Adding Ethanol makes the price go up.

2. World demand is increasing.

3. Instability in the Middle East.

 

I guess all of those things just happened in the last year because gas went from 2.13 to 3.62 in one year. It's amazing that none of that stuff was happening a year ago.

 

Funny how some things that should be expenses and therefore lower profits seem to be increasing them dramatically.

 

People knock on conspiracy theorists but during California's rolling blackouts anyone posing a conspiracy theory would've been laughed at but it turned out to be true. Enron was working with power plants to cause the rolling blackouts and send the price of electricity much higher. I thought something was going on back then and I think something is going on now with oil prices. Obviously the Republicans have enough votes to block an investigation and the Texan in the Whitehouse isn't going to do anything about it either. Not all Dems are going to call for an investigation but, the oil industry has far more Pubs than Dems in their pockets. Ted Stevens, the Senator from Alaska, refused to swear in the oil execs during a Senate investigation , which would have made any lies they told perjury Then after an investigation was launched into an oil company it turned out he was getting bribes from the oil industry.

 

In May, Allen and fellow company executive Richard Smith pleaded guilty to federal bribery, extortion, conspiracy and fraud charges as part of a wide-ranging federal corruption investigation in Alaska. Allen and Smith admitted they bribed state lawmakers with cash and job offers and illegally reimbursed their employees for some political contributions.

 

The only way we're going to get past the whining liberal tree huggers and start drilling in the places we KNOW have oil reserves, is when gas hits about 8 dollars a gallon. Then some people wont be caring about a !@#$ing Caribou in Alaska. Or even using new Technology to remove oil from shale could give us 1.5 trillion barrels of oil. Thats a with a !@#$ing T. The billions in the Dakotas. The Gulf of Mexico. !@#$!!! Only Then we could tell OPEC and the rest of them to go !@#$ themselves.

 

Rant over.

 

Congress has grappled for years over whether to allow oil companies access to the 1.5 million-acre coastal plain in the Alaska refuge, which geologists believe harbors about 10.4 billion barrels of crude...

 

...With the 876,000 barrels the refuge could provide a day, the reliance on imports would drop to 66 percent of domestic consumption, the EIA analysis said. The study said it would likely have little impact on world oil prices — perhaps reducing the price by 30 to 50 cents a barrel if prices were in the $27-a-barrel range.

 

That's a drop in the bucket for oil selling over $100 a barrel right now.

 

Today, the world consumes over 80 million barrels of oil every day (over 30 billion barrels per year); the USA alone consumes over 20 million barrels per day (over 7 billion barrels per year). At $100 per barrel, the global petroleum industry is a three trillion dollar a year business. Development of alternative energy to free the world from oil dependence will create a seismic shift within the economic foundation of the world.

 

That works out to approx. 4% of daily consumption that would be taken out of the refuge. Is it really worth it?

 

 

What ever happened to the electric car?? Wouldn't that solve the gas problem?

 

I know, it's funny how an underfunded industry doesn't seem to make big breakthroughs.

 

 

Do you know how much it would cost to extract oil from Alaska or squeeze it out of shale? The reason it hasn't been done isn't because some hippie is crying, it is because it isn't cost effective. You honestly think some tree hugger could stop big oil?

 

Right now because oil is over $100 a barrel it is economically viable. However, when the price of oil drops, after the November elections, it won't be feasible anymore.

[erynthered]

Let's see the excuses are;

 

1. Adding Ethanol makes the price go up.

2. World demand is increasing.

3. Instability in the Middle East.

 

I guess all of those things just happened in the last year because gas went from 2.13 to 3.62 in one year. It's amazing that none of that stuff was happening a year ago.

 

Funny how some things that should be expenses and therefore lower profits seem to be increasing them dramatically.

 

People knock on conspiracy theorists but during California's rolling blackouts anyone posing a conspiracy theory would've been laughed at but it turned out to be true. Enron was working with power plants to cause the rolling blackouts and send the price of electricity much higher. I thought something was going on back then and I think something is going on now with oil prices. Obviously the Republicans have enough votes to block an investigation and the Texan in the Whitehouse isn't going to do anything about it either. Not all Dems are going to call for an investigation but, the oil industry has far more Pubs than Dems in their pockets. Ted Stevens, the Senator from Alaska, refused to swear in the oil execs during a Senate investigation , which would have made any lies they told perjury Then after an investigation was launched into an oil company it turned out he was getting bribes from the oil industry.

 

In May, Allen and fellow company executive Richard Smith pleaded guilty to federal bribery, extortion, conspiracy and fraud charges as part of a wide-ranging federal corruption investigation in Alaska. Allen and Smith admitted they bribed state lawmakers with cash and job offers and illegally reimbursed their employees for some political contributions.

 

 

 

Congress has grappled for years over whether to allow oil companies access to the 1.5 million-acre coastal plain in the Alaska refuge, which geologists believe harbors about 10.4 billion barrels of crude...

 

...With the 876,000 barrels the refuge could provide a day, the reliance on imports would drop to 66 percent of domestic consumption, the EIA analysis said. The study said it would likely have little impact on world oil prices — perhaps reducing the price by 30 to 50 cents a barrel if prices were in the $27-a-barrel range.

 

That's a drop in the bucket for oil selling over $100 a barrel right now.

 

Today, the world consumes over 80 million barrels of oil every day (over 30 billion barrels per year); the USA alone consumes over 20 million barrels per day (over 7 billion barrels per year). At $100 per barrel, the global petroleum industry is a three trillion dollar a year business. Development of alternative energy to free the world from oil dependence will create a seismic shift within the economic foundation of the world.

 

That works out to approx. 4% of daily consumption that would be taken out of the refuge. Is it really worth it?

 

 

 

 

I know, it's funny how an underfunded industry doesn't seem to make big breakthroughs.

 

 

 

 

Right now because oil is over $100 a barrel it is economically viable. However, when the price of oil drops, after the November elections, it won't be feasible anymore.

 

It is one of MANY spots that we could drill. Some here seem to be focusing on only Alaska. What about the Dakotas? What about the Gulf? Why havent we built a refinery in over 35 years? This shiit goes back all the way to Carter. We've stuck our heads in the sand to long. All this shiit isnt new. Like I said in my RANT, nothings going to happen till we start paying 8 bucks a gallon. $200 a barrel is right around the corner.

 

 

Curious though. Why did you change your handle from Rfeynman to your current one.

[stuckincincy]

Many oil wells in the past were cut off after only getting X% from the well, because of equipment and techniques that were needed to get the harder to reach oil in those wells. When the price of oil goes up, some of those wells are able to be reevaluated and made to produce more oil.

 

Shale oil is like a hydrogen car. Possible, but really expensive today. But the costs will eventually come down for both.

 

Don't forget about offshore drilling in the Gulf. The senior citizens in Florida don't want to be able to see (as if their eyes are actually that good) a rig 50 miles off the cost.

 

Refining capacity is something that desperately needs to be increased. But like many things, no one wants one in their backyard.

There was a huge push during the Clinton Administration for natural gas fueled turbine power generation facilities. It is clean, but costly.

 

This redounded favorably to the three big players in the business...ABB in Sweden, Rolls Royce in England and GE, based in Lynn, MA. And GE has a powerful friend in Sen. Teddy Kennedy. See also his roadblocks and delays in defending GE from forking over big $$$ for the removal of their decades of transformer manufacturing and the PCB oil that leaked into the Hudson River.

 

http://www.nrdc.org/water/pollution/hhudson.asp