What the media doesn't report

I just can`t believe that people think more oil wells will lower the price of gas. Do you believe that big oil will sell to the U.S. at a discount when the world market will pay more? Big Oil will just make more money, people will use more every time the price starts to drop & the price will rise. Oil has dropped recently but gas hasn`t come down to where it was at these oil prices. We need to have a workable energy policy, oil will always be needed but at a greatly reduced amount.

"oil will always be needed but at a greatly reduced amount"

Your kidding, right?

traderfjp wrote:Obama has a lot of plans but not much money in the till to do anything. It's like me telling my wife if she can have a Mercedes yet I work at Taco Bell. It won't happen. How can we pay for a universal health care system when we are in such debt and our Senior citizens who worked their whole lives are in Jeopardy of losing their benefits. Yikes batman!

There was no money to pay for a universal health care system BEFORE the federal bank bailouts of last week. I can't imagine how such a program could be implemented after the developments last week: It is estimated that over 700 billion federal dollars will be spent in this massive bailout...unemployment is on the rise...and first wave of baby-boomers are getting to retirement age. Things are looking pretty bleak from my perspective.

Three points:

1) To you Ron Paul supporters: he has officially endorsed the Constitution Party candidate, Chuck Baldwin, for President. I asked before if Bob Barr would get your support, and was rebuffed by a few on the grounds of his Clinton Impeachment involvement. I ask anew: Will you support Baldwin and the Constitution Party for President, as Ron Paul will be doing?

2) It makes all the sense in the world to open up domestic oil sources in a big way. No one is saying we're going to replace our oil usage entirely with these sources, not McCain, not T Boone, not anyone. We could however tap them and see upwards of 5 million barrels a day from these sources, doubling current domestic production and cutting nearly in half our 12 million/day import. Even if it is only 2 million, that is a significant amount of money that we are not sending out of the country anymore, money employing US citizens in drilling, pumping, transport, and refining. Will it make a dent in the world oil markets? Yes and no. Yes because the US producers will not be part of OPEC and thus will be able to be a downward pressure on price. The more we open up our production potential the more able domestic producers will be to undercut others prices and meet more demand. No in the sense the US is going to become some Saudi Arabia like oil producing nation. The point is, we don't need to be a major producer to make a sizable impact on global pricing and on domestic pricing. And regardless of pricing, it makes us more energy and financially secure.

3) Consider that as the US economy has been faltering, oil along with gold have become hedges. The more we explore, prove reserves, and tap for production domestically the more stable the US dollar will be. Also, while alternative energy sources are nice and all in theory, they are not ready yet, what is usable is still very expensive, and they will require great deals of investment capital (something our clamped up credit market isn't going to support at the moment and possibly for the next several years) to get to an economic energy source. Once developed to the point of being cheap and reliable it will still take years to penetrate the market, gain acceptance, and displace current energy technologies. The only way we we're going to pay for all of this is to actually start selling something the world wants, and a lot of it. We can't out manufacture them. We ran out of gold a long time ago. They don't like our cell phone and gadget ideas. Our clothes are way too expensive. Intellectual property is an oxymoron and only barely enforced in the up and coming nations. If we aren't going to sell them our oil, I'm not sure what the hell we're going to sell them. We have lots of it. Drill the oil, sell the oil, let oil companies reinvest in oil, make the money while we can, while a profitable market for the damned commodity still exists.

pvolcko wrote:Will you support Baldwin and the Constitution Party for President, as Ron Paul will be doing?

I know nothing about him & will have to do some research b4 I would support him. (Endorsements mean little to me) Right now I intend to write Ron Paul's name in as a political statement saying: "Neither of you major parties has earned my vote this year & I don't want you to misconstrue my vote as support for what you have done." I don't think anyone should pull the lever on a candidate based on his/her "odds" of winning based on any "Talking Heads" you hear.

pvolcko wrote:No one is saying we're going to replace our oil usage entirely with these sources, not McCain, not T Boone, not anyone.

McCain's emphasis on drilling is meant to confuse people into thinking that such drilling will have more of an effect than it really will on both energy independence & gasoline prices & that said effect will take place sooner than it really could. In other words, it is an election eve political tactic meant to mislead/deceive us, & I'm tired of being lied to.

pvolcko wrote:The more we explore, prove reserves, and tap for production domestically the more stable the US dollar will be.

While all experts say the effect will be minimal & many years away,(& many say it will simply add to oil company profits, which is why they are pushing it) it' a done deal! The Bush administration, Big Oil & McCain have managed to dupe us again, so everyone now agrees to more drilling!...Done....Next subject!

We currently send $700 BILLION overseas EVERY YEAR paying for our addiction to oil. That money is lost from our economy. This is a lot bigger crisis than the housing/banking markets. To try and blame this on any one entity is ignorant, so is continuing to repeat this mistake year after year.

Just recall one little fact about the free enterprise system. The consumer has nothing to say about just where this so called new source of offshore oil will end up.The oil companys will spend millions in research and development ,build the rig to drill ,and then Joe Average tells them where they can or cannot market it at the most prosperous return. Right!!! That oil will be gone baby. Just where does the oil from Alaska go? huh

stovepipemike wrote:The oil companys will spend millions in research and development ,build the rig to drill ,and then Joe Average tells them where they can or cannot market it at the most prosperous return. Right!!! That oil will be gone baby. Just where does the oil from Alaska go? huh

Right you are!........The "Drill Now" mantra of the McCain camp is meant to do one thing: Dupe the public into electing John McCain in November. Will it lower gasoline prices or make a big impact on energy independence?.....Not on your life!