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Vic Smith

On Wed, 06 Aug 2008 06:23:43 -0500, wrote:

On Tue, 05 Aug 2008 13:57:19 -0500, Vic Smith wrote:

Just need the will to do it. Leadership. Oil fuel will used mostly for
boats. Navy and recreational. Yep.

--Vic

There are those that would argue oil is too valuable to use as fuel. Look
around you, medicines, fertilizers, plastics, etc. As it stands, we
can't get through the day without oil products.

I watched that History or Discovery Channel episode called "Oil"
a bit back and they mentioned there are bio substitutes for just about
everything that comes from oil. They didn't go into much detail.
I still wonder if anybody knows the answer to my more "drilling"
question, so I'll pose it again:
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.

This isn't a "political" question per se, but one more related to
actual local and global economics as they are currently practiced.

--Vic