If congress lifts the ban on this offshore oil, will it have an impact on anything?

will it have an impact on the economy? and how long would it take?If congress lifts the ban on this offshore oil, will it have an impact on anything?
Yell right


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First it has to pass the two houses in vote ha ha ha to that one


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And even if they do pass it it will be 10 years till anything comes out of even one of the wells


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And when the oil does start pumping it will be sold a the going world price of oil to the barrel cost


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Yes it is a global market and the oil companies have not seen big profits yet till they start pumping big time big amounts of oil


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At a $145.00 a barrel price they will charge Mr. and Mrs. Public


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Talk about putting the shaft to the American People


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So you see no matter who sells the oil it market price is the price you all EVERY ONE pays


.. . ..If congress lifts the ban on this offshore oil, will it have an impact on anything?
First you have to find the exact site to drill. Then you have to build the rig. Then you extract the crude. THEN you have to refine it. It's common knowledge that there aren't enough refineries currently. It's also common knowledge that it will take 5-10 years for the oil to reach the market.





So basically what's going on is the administration trying to play the market. They are hoping that by doing this and showing that the oil will be available at some vague point in the future, that it will lessen speculation and increase investor confidence, hence driving down the price. But this is a gamble in itself, and isn't guaranteed to work. It might or it might not.





It still has to pass the House and Senate anyway. We'll see how that goes.





It's ironic that the ban was actually put in place under Bush Senior's administration.
Its the ;dummies that enacted the ban that limits the oil the US could provide to itself right now that is the cause of the problem. Yes it will take time to ramp up pumping and build new refineries but if we don't do it now what will the price be in 10 years. We must go forward on all fronts. More wind, solar, geothermal energy production. Building nuclear power plants. More research into alternative fuels. More oil drilling is an essential part of that mix.
well thats debatable some experts say up to 10 years others say it could be as soon as 16 mths...as to impact i think it could effect the speculators and cause the opec to pump out more oil....but then we have the problem that we need more refinery in the us...i say screw the tree hugging ppl and lets build....the impact on the environment is minimal....we do off shore drilling now and i.e when katrina blew thru the gulf and tore up the rigs not one drop of oil was spilled in the gulf???? so why are they worried about off shore drilling you can not see the rigs from the beach
It doesn't happen overnight. That can't be overstated. I've heard different theories about how long it will take, from 3 years to about 12 years.


Americans are starting to ditch the idea that a big car is better than a mid-size car. So consumption should go down because of that, which is the fastest way to see fuel costs to go down.
15 years.





but Imagine you are an oil company that discovered a huge stash of oil offshore...


would you:





A. Dump that oil on the market all at once to lower the price of gasoline





B. trickle that oil on to the market so your company could directly profit from $4 a gallon gas.





duh
it will take at least 15 -20 years


Jimmy Carter said way back in the 70's we need to look else where or for alternatives for fuel%26amp; energy but was turned back by congress and well just laughed at.
only the oil companys


more money
the economy would go up when the oil price comes down