faqsman said:
Let's start the process of preparing to drill in Alaska and increase drilling in this country. That and just the threat of opening our oil reserves would be enough to reduce oil prices. We probably do not even have to actually do anything. Just the threat will cause the prices to fall.
I agree that we cannot expect to reduce our dependence on foreign sources of oil simply by driving less. I'm willing to start riding a horse, but lots of people are not. Not yet, anyhow. There are too few places to water him and tie him up for the night.
And the penalties for stealing a man's horse are not harsh enough like they were in the good old days.
But horse-keeping logistics aside,
changing our driving habits alone won't be enough. We use far more oil for our manufacturing and power supply needs. So in the interim, I wholeheartedly agree with your statement that we should be seeking oil in remote parts of Alaska and other parts of the world where there are few people and fewer wildlife.
After all, it makes great sense from a strategic (and military) standpoint. It is also the very reason we have the SPR, so that we could still operate a petroleum-driven military or economy in the event of a worldwide disruption of crude oil production and/or deliveries. Fast fact: SPR stands for "Strategic Petroleum Reserve." It can hold upwards of 700 to 900 million barrels of oil (I've seen different numbers, and I think the actual number is probably only known by a few), and is mostly stored in underground salt caverns in various states in the US.
It really does make great sense. Why have all of our "eggs in one basket?" Lots of companies try to have more than one supplier of raw materials, or else they end up with a Toyota/Panasonic supply problem, albiet maybe for different reasons. If it's good for companies, it's good for the US.
And yes, we should probably be considering some operations in the Gulf of Mexico. Again, it is the most sensible thing to do.
A couple of weeks ago, President Bush did say we would tap the reserves. But that hasn't helped reduce the market price of oil. Hmmm, could it be because of the strike in Nigeria, the terrorist attacks in Iraq, and the fact that OPEC is already producing at least 2 million barrels more per day than their originally agreed-upon limit (and only a couple million barrels below their theoretical maximum)?
We need to keep in mind that the oil reserves only contain a VERY limited amount of oil. 900 million barrels won't last long; certainly not for more than a couple of months. And because of the way we get oil out of those salt caverns, it takes time to draw it up (we use water to make the oil rise so that we can suck it out with a big straw).
I submit to you that the world markets know these things, and that's why oil is above $53.00 today. They know that the Saudis and other OPEC nations CANNOT make more. That's different than "will not" make more. They know about the strikes. And about the rampant terrorism. And about the growth of China. And about America's thirst for oil to fuel our H2s and Escalades. And our jet airplanes.
Where are those Star Wars' hovercraft? What do they use as a fuel source?
