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Vic Smith

On Tue, 05 Aug 2008 07:28:26 -0500, wrote:

On Tue, 05 Aug 2008 07:48:51 -0400, D.Duck wrote:

Now if we could only get some drilling going in the Gulf or on the
mainland. What's with this Ballken field in Montana/ND I've been reading
about?

Do you mean the Bakken Formation that was discovered in 1951? Lots of
oil there, but with current technology most of it will stay there.

We are not going to drill our way out of this. In this country, oil
production peaked in the early '70s. We are still the third largest oil
producing country, yet we have to import more than 1/2 our oil. Seems to
me, there is a hell of a lot more we can do on the conservation side,
than on the producing side.

Here's what puzzles me when I hear talk about "drilling our own oil."
Isn't oil price set by the world market?
Are "American" oil companies drilling here going to sell only to
American consumers?
That sounds like nationalization to me.
Doesn't seem like drilling more here will affect the world oil supply
significantly enough to lower prices as world demand increases.
Devil in the details, and I never hear anybody explaining how
drilling more here will have real effect in price.
Does the gov get so much per barrel on the leases? Etc, etc.
The stupidest thing I keep hearing is talk about tapping the strategic
reserves. Can't get more absolutely lame than talking about doing
that.
I've said it before, but I'll say it again. Building nukes as quickly
as possible and concentrating on converting most commuter cars to
batteries will be the fastest way to knock the edge off oil
dependency. NG and oil fired heating can be converted when the
electricity costs get there. Lots of work for the HVAC industry, and
real good for copper prices.
Just need the will to do it. Leadership.
Oil fuel will used mostly for boats. Navy and recreational. Yep.

--Vic