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gas prices

Any significant increase in forecasted supply spikes the markets down the way a decrease in supply (the fear that oil platforms would be damaged in Katrina ;i.e.) spikes the markets up. The second thing it would do is signal the world that the US was once again serious about exploring every available source of energy, again signaling the markets that supplies in the future could be greater. The same thing would happen if we were to announce plans for multiple nuclear plants. Right now we have told the world, we have it, but we'd rather pay more for it from other places then go get it ourselves. So of course their yielding to our wishes and charging us more.

I don't see how this will make any significant long or even medium term difference factoring in population/economic increases in China, India etc. Plus, it's not going to be sold to the US exclusively.
 
Can someone fill me in on how drilling in the US (ANWR, etc) will solve the oil crisis in the US? (I'm being serious, I really want to know)
It will not solve the crisis but it will help give us some breathing room.
Will the oil companies not sell it on the world market? It IS a capitalist economy. That's what's happening here in Canada. Our oil flows south. We have to buy it on the world market. Otherwise we'd have some pretty cheap gas as many other oil producing countries do.
You have NAFTA to thank for that.
 
Just start building more nuclear power plants, it will produce a lot more energy than wind, solar, thermo and be cheaper.

The problem is what to do with the waste. Just ship it to our new colonial empire in the Middle East. :rollno:
 
Can someone fill me in on how drilling in the US (ANWR, etc) will solve the oil crisis in the US? (I'm being serious, I really want to know)

Will the oil companies not sell it on the world market? It IS a capitalist economy. That's what's happening here in Canada. Our oil flows south. We have to buy it on the world market. Otherwise we'd have some pretty cheap gas as many other oil producing countries do.

Burkes reply was better. But I can add that the price of oil is traded on the "oil futures" market. Most of this market is unregulated. It's my understanding that speculators are betting now on what the price will be in the future. (I guess that's why it's called the "oil futures" market.) That's how the speculators make a profit. If the oil companies were allowed to start drilling in the ANWR today, it would still take maybe 5 years for them to actually recover any of that oil. But it would signal to the markets that the US is taking control of it's energy crisis and that supply will increase in the future. I would guess that the price of oil would drop almost immediately.

(This is just a laymans understanding of the market. I'm sure it's more complicated.)
 
Burkes reply was better. But I can add that the price of oil is traded on the "oil futures" market. Most of this market is unregulated. It's my understanding that speculators are betting now on what the price will be in the future. (I guess that's why it's called the "oil futures" market.) That's how the speculators make a profit. If the oil companies were allowed to start drilling in the ANWR today, it would still take maybe 5 years for them to actually recover any of that oil. But it would signal to the markets that the US is taking control of it's energy crisis and that supply will increase in the future. I would guess that the price of oil would drop almost immediately.

(This is just a laymans understanding of the market. I'm sure it's more complicated.)

I understand that part of it. I just disagree that it would make any real difference overall. I think we'll have to revisit this thread in a few years and see how it turns out.;)
 
Burkes reply was better. But I can add that the price of oil is traded on the "oil futures" market. Most of this market is unregulated. It's my understanding that speculators are betting now on what the price will be in the future. (I guess that's why it's called the "oil futures" market.) That's how the speculators make a profit. If the oil companies were allowed to start drilling in the ANWR today, it would still take maybe 5 years for them to actually recover any of that oil. But it would signal to the markets that the US is taking control of it's energy crisis and that supply will increase in the future. I would guess that the price of oil would drop almost immediately.

(This is just a laymans understanding of the market. I'm sure it's more complicated.)

my dad was telling me the same thing this morning before i left for work. I think you nailed it on the head.
 
Nice theory, the problem is our population, mostly form illegal immigration is growing at about 10% a year. Are you proposing that immigrants ride donkeys and live in thatched huts?:D

We could reduce our fuel use consumption by 10% if people just properly inflated their car tires.

If ANWR is truly 10% of our oil consumption, (I've heard estimates from 5-10% of our current usage for about thirty years), that is huge. A 10% future increase in supply would have a huge effect on speculation. Remember a 2-3% estimated decrease ( natural disaster prediction like a hurricane) spikes the price of oil 5-10$ in one day!

Nope - ANWR is about 10% of our oil consumption for ONE year.
 
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According to this web site, the ANWR contains "the equivalent of over 30 years worth of Saudi oil."

"In 1995 Congress approved the opening of ANWR yet this was vetoed by President Clinton. Had Clinton not done so, ANWR would be contributing over 1 million barrels of oil to our nation today."

"The US consumes 20 million barrels of oil a day." So, about 5% of our consumption would have been offset by this oil.

Significant? Maybe.
 
I thought Nevada was the plan. What could go wrong trucking nuclear waste around the country?:eek:
As a case study, you could look at the safety record for all the the new nuclear fuel which has been shipping from the processing plants to the power plants for the last 30 or so years. Guess what. Huge non-issue. Additionally, new fuel is orders of magnitude more radioactive than the spent fuel. Doh!
 
We could reduce our fuel use consumption by 10% if people just properly inflated their car tires.
Yeah....:hmm: Properly inflated tires do help with mileage, but 10% reduction in overall fuel consumption? Highly doubtful.
Nope - ANWR is about 10% of our oil consumption for ONE year.
See my previous comment. ANWR is unexplored. Nobody knows how much oil is there.
 
"The US consumes 20 million barrels of oil a day." So, about 5% of our consumption would have been offset by this oil.

Significant? Maybe.

Best estimates I've seen at peak production for ANWR were 800,000 barrels per day - that is peak production, and wouldn't be reached until 2025 if we started drilling a couple years ago.

We use about 20.5 million barrels of oil per day today, of which about 50% is used for fuel.

So were talking about 8-10% of our daily fuel use covered.

If everyone in the US correctly inflated their car tires, we would reduce oil consumption for fuel by about 10%.
 
Anybody or any web site that claims to tell you how much oil is under ANWR is FULL OFF ESS. The area has NOT BEEN EXPLORED. NOBODY knows how much IS or ISN'T there. Based on the North Slope oil, there could be a lot there.

No "exploration" has been done - lots of estimation, using real good geological data has been done.

We have a reasonably good idea how much oil we're talking about.
 
Here's the real stinker. It is estimated that their are 100 Billion Barrels of Oil off the US Continental shelf. The US uses about 7 billion barrels a year. That means their is a 12-14 year supply of ALL of our oil needs, in our own country! Why aren't we drilling for it? 85% of it is off limits due to a moratorium set up by environmental regulations. Since those regulations exist US oil companies have not been building deep drilling platforms and investing in developing the infrastructure to get it. So yes, when your paying 4$ plus at the pump you should be sure and thank your local environmentalist.:hmm:

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If it does, you will be one of a very few.

There IS going to be a sea change in American transportation patterns. Either we're going to come up with a real alternative fuel (and grain based ethanol definitely will never be it) or the "commute" as we know it is going to disappear.
I bolded the most likely scenario for you. The commute isn't going to disappear, not without HUGE changes in city planning. This is extremely difficult to accomplish after the fact. Hell, I live about 20 miles from a city that was razed by a hurricane and they're having trouble changing the old. Other obstacles mentioned before in this thread include a piss poor mass transit system and the lack of quality employment in a given geographic area, among others. So, as I stated, the bolded portion is your most likely scenario by a long shot. End result? My drive stays the same.
Gas prices are never (other than local minima) going down.
You've told this to me twice now. Below is a quote of mine from the first page. You are preaching to the choir. I'm prepared to pay European prices for my gas and will still drive 37 miles to work. Yes, it's that good a job.

It's time to accept the fact that gas isn't going back down to where it was. Ever. I'd be surprised if it drops back down below ~$2.80.

Mike
 
Why do people gripe about gas prices, then walk right in the
Mini-Mart that the Oil Co. OWNS, and throw more money at
them buying soda and beer and coffee and water (And all
WAY pricier than $4.00 a gal.!)-These ***tards figured out
back in the '70's that Mini-Marts are more profitable than
gas, thats why you won't see a "gas station" w/o a Mini-Mart-
so QUIT GIVING THEM MORE MONEY!!!-
Buy all that crap at a grocery store where you can get gas
discount points, or a Mom & Pop store-