Thursday, January 7, 2010

How much do you think the price of oil would drop if Congress removed the ban on offshore drilling?

30 - 40 a barrel.





3 foot rise in sea levels???


REALLY?? you truly do not believe that. Did Al say so?How much do you think the price of oil would drop if Congress removed the ban on offshore drilling?
The truth is oil prices will not be affected by US offshore drilling. Oil prices are determined by global supply and demand. The US does not have large enough oil resources to significantly impact global supply. The US produces only a small fraction of the total global supply. The insignificant increase of US oil production from more offshore exploration would come many years from now and have no significant impact on prices.





On the other hand, the US consumes a very large share of the total global supply of oil. This means we in the USA could have a very significant impact on oil prices by reducing oil consumption through conservation and increased use of renewable energy sources.





Another fact is that oil is a finite resource. Desperate attempts to pump it out of the ground and burn it ASAP will not solve any problems, but the damages to the environment cause very real long term problems.





Please read the sources below. The truth is out there.How much do you think the price of oil would drop if Congress removed the ban on offshore drilling?
THEY ARE FOOLS, congress needs to lift the ban, they can't manage the country!! they should be fired....all of them.


if we started to drill, the country would have a lower deficit and much lower prices over all this country is sinking fast and they don't want to fix it.
It is already dropping


and they haven't even removed the ban yet.
a lot... and in ten years after more drastic weather and the sea level rise of 3 feet that oil will be gone and we will be back in the same predicimate








i exaggerated... fool.
couple cents a gallon, nothing significant, then they would go up again next election, so they get people to vote for who they want.
nothing, till years later when oil finally comes to market ,depends if there are a lot of oils of shore.
ZERO
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