Glenn Beck: Time to drill!!
June 13, 2008 http://www.glennbeck.com/content/article鈥?/a>
GLENN: Let's go to Congressman PetersonDo you think if the U S goverment anounced today we are going to start drilling oil the price would come down?
No, this isn't being caused by supply and demand, it being caused by a drop in the value of the dollar and speculation in the market. The increase in demand, according to OPEC would make oil at seventy dollars a barrel, not the one thirty to one forty range its been in this week.
The US does not drill the oil it sells leases to drill oil.
An oil company can buy the lease, and still not drill if that were the only reason oil was high.
Why would they want to bring the price of oil down? They have been scoring the highest profits ever recorded by a private industry for the past three quarters.Do you think if the U S goverment anounced today we are going to start drilling oil the price would come down?
Not immediately, It would take about ten years to build more refineries which would be needed and the exploration and getting it all together would take time even before we could start drilling, unless some of the oil reserves were freed up in the meantime.
I don't think it would take long before the price of oil went down once OPEC and others realized we would no longer be dependent on them.
It most certainly will hit the $10/gal. if we are not allowed to drill and if ';windfall'; profits were seized by the government!
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i think it was karl rove the other day who said, if we make it known we are aggressively starting to drill, prices would move down and he also said that if we dumped oil from the strategic reserves back into the market at 3-5 million barrels a day, it would go down even more but he gave no numbers. i tend to agree with him on this.
It won't happen, liberals will block it; why?
They want to bring the USA to its knees, to build if back under a socialist government. Libs believe the only way they can gain power is when bad things happen to the economy and our country. No one will accept socialism if its presented honestly.
If they talk about drilling oil in USA, libs will go ballistic.
read the news, the price just dropped. but, no, it would not come down. don't expect it to come down much.
if we started drilling today, it would be years before we saw any oil from it. and really very little anyway.
we've had over 36 years to think about this, why hasn't anything been done?
Drill where? We've already done that.
Columbia? They have a war down there. Venezuela? They got Chavez down there. Russia? Not for us. The Chinese are looking too.
We do have oil reserves in the ground right here, but they don't want to touch that.
Not for a while as it would take years for the new oil to be flowing in. In the mean time, the cartels have a noose around our necks.
Yeah, the price at the pumps would probably come down a penny or two for a day or so, then go back up and keep rising.
Expect $5/gallon by fall.
It would plummet.
No way! Are you kidding me? This whole thing is a part of Cheney's secret energy plan! The oil companies have millions of acres of oil lease land RIGHT NOW! They are NOT even trying to pump that oil out of the ground! Why would destroying a pristine wilderness for more of the goo be a good thing? We need to understand that the 'energy' that is in oil, originally came from the Sun. We should go right to the source for our power needs! Solar,wind,and tidal are viable alternitives to the poisonous oil we now use.
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