With Gasoline headed toward $4.00 a gallon, Obama...

Drill later, much, much later so your great-great-great grandchildren will have gas for their 300 mpg cars. :smilewinkgrin:

 

Drill now while we can still sell it. those 300 mpg cars will run on water.

I am very confused why we cant sell from the strategic reserve at times like this. Add to it when the price is under $40/barrell, sell when it is over $80, and the result is our government would make money and keep our oil costs down.

 

Why does anyone think that more US crude oil would cause US retail gas prices or international retail gas prices to drop?

If US oil could be sold at a higher price in Europe or Asia why would not be shipped to where it got the highest price?

 

It'll be interesting to see what will happen when our research labs finally get the go ahead to produce industrial amounts of synthetic or lab created crude.

Suggesting the current crisis is the product of the current administration is like blaming your pastor for the church split in another state. The two arent related.

 

Wow. Crabby cares as much for the sorry state of economic affairs as Obama.

(um, that doesn't say much).

Look folks: Obama desires high gas prices. It will help him push his envirowacked agenda.

 

As someone who works for a machine shop in Houston, Texas that manufactures products for the oil industry, it is good job security for oil prices to skyrocket. Although it does cost me more money for gasoline, the added hours needed in supplying the products required more than offsets this cost. So, this is not a crisis for everybody.

 

No, just 98% of everybody...but who's counting?

 

What the snowman has mentioned is true, it is a boom for some. Higher gas prices result in more investment by the oil industry. If the government would just keep their hands out of it the industry would regulate itself. When production falls behind demand and prices go up, then oil companies invest in more production. When prices drop and demand falls below the supply, then they stop doing that.

The current administration’s failure to approve drilling permits and expand US production has caused demand to surge that much further ahead.

 

Oh, I don't doubt it's helped RS.

And I don't begrudge him one bit for it. He chose a career in a good industry.

But there's no doubt it's hurt far more people than it's helped.

I didn't mean for my response to RS to sound snarky. What I meant is the above thought.

 

What would be great is if the machinists had work and the price of oil was reasonable. One problem with this is that so much of our manufacturing has gone to China.

 

I'm suprised we haven't heard complaints about Big Oil profits from some of our more liberal friends here.

 

Obama sure isn't helping the situation by hindering domestic production.

 

Oil is a commodity that is sold on the world market. It really doesn't matter where it is pumped out of the ground. If it were drilled for in the U.S. it wouldn't lower our price for gasoline.

 

More production anywhere, results in lower prices everywhere. The big difference if it were US production would be that we would be creating jobs and wealth in the United States instead of other places.

What is even scarier than the high price of oil is that a large part of the money goes to fund nations and individuals who in many cases are hostile to the United States.