1415 replies to this topic

[weathergeek87]

Spoke to my dad today, gas prices in NYC nearing $4/gal. OUT OF CONTROL!

$4.07 at my friends house near the Adirondacks.

When will they drop!!!!

[wxtracker93]

Bush should be tapping into the oil reserves.. He probably doesn't care enough to do so though--he's on his way out anyway.

[Mike_The_Golfer]

that wouldn't even put a dent in prices.

[weatherbowl]

Maybe its time the United States started to drill its own oil. If we started 10 years ago we might not have these high prices now. Also wouldn't it be nice if we were not so dependant on the middle east and helping to support terrorism by buying their oil. Combine our own increased oil production with alternative energy sources and we might actually make some real progress.

[NittanyLion]

Alternative energy is the only way that we can get away from these high gas prices. But that won't happen because the people in charge (on both sides of the aisle) are in bed with the oil execs. We have the technology, we are just choosing not to use it, or make it affordable.

[vascudave]

when they decide to drill alaska, that's when. with todays technology they can do it clean and efficient. nope we have to pay the middle east.

[LocalOnthe8s]

itll only keep rising

[weatherbowl]

I agree Nittany that alternative energy could be a big help and possibly the new order. I would not give up on going after our own oil also. We are a long way from an oil free world and there is plenty still out there. We can go after it as long as it is in a save environmental way. It would be very helpful to use it as we continue to search for cheap alternatives. I am afraid if we jump to conclusions about alternative energy, we could make big mistakes such as this potential food crisis and ethanol.

[snowfreak188]

highest i saw around my town was 3.91 for regular but they are back down to 3.83 got gas today for 3.75 still 30dollars to fill the tank when it was on a quarter tank.

[devilsfan0405]

Everytime someone suggests that we start tapping our own reserves, the tree-hugging environmentalists go crazy. We can't have it both ways here...a choice has to be made and I don't think the answer lies in biofuels. Look at the spike in food prices since the ethanol craze began.

[NittanyLion]

Biofuels are not the answer...

...but energy efficiency, solar power, and hyrdrogen power is

[NittanyLion]

Also ANWR would only provide about 3-6 months of oil

[GameOfLove]

There is also the people who support the high gas prices because they think it will change the way Americans do things. No more buying huge cars and SVUs - which get barely 15 miles to the gallon, make people walk more or use public transportation etc.

I read the government was thinking about stopped the federal gas and diesel tax - like this will ever happen. One person who thinks this is idiotic is "Mayor Mike Bloomberg, who has yet to endorse a candidate in the presidential race, said today that the proposal to suspend the gas tax, which is receiving attention on the campaign trail, is one of the most idiotic ideas he's heard in a while."

http://nysun.com/news/new-york/mayor-calls...k-dumbest-thing

As they say the richer get richer and the poorer get poorer.

[weatherbowl]

30 years ago the same talk about oil and gas prices was taking place, except back then you had to wait in long lines to get gas. They were also predicting gas to be $5 a gallon within a few years. Guess what, gas remained cheap for the next 25 or more years. As a result nothing was done through 4 presidents and many congresses and the general public remained complacent. During that time big oil had years where they lost huge amounts of money, of course today they are filthy rich. As far as blame goes, I think there is enough to go around. The only way we will get serious about our energy prices is when it hurts everyones wallet. Maybe now something will get done. By the way, there may be more oil in North Dakota than ANWR and it is not in an environmentally sensitive area.

[vascudave]

NittanyLion, on May 1 2008, 11:53 PM, said:

Also ANWR would only provide about 3-6 months of oil

?????????????????that's if it would be used to supply 100% of us demand, even at that rate it would last at least a year +.


Technical projections and estimates

[edit] Estimates of oil reserves
A 1998 United States Geological Survey (USGS) study indicated at least 4.3 billion (95% probability) and possibly as much as 11.8 billion (5% probability) barrels (0.9 to 2.5 km³) of technically recoverable oil exists in the Arctic National Wildlife Refuge 1002 area, with a mean value of 7.7 billion barrels (1.7 km³). In addition, in the entire assessment area, which covers not only land under Federal jurisdiction, but also Native lands and adjacent State waters within three miles (5 km), technically recoverable oil is estimated to be at least 5.7 billion (95%) and as much as 16.0 billion (5%) barrels (0.7 to 1.9 km³), with a mean value of 10.4 billion barrels (1.2 km³). Economically recoverable oil within the Federal lands assuming a market price of $40/barrel (constant 1996 dollars - the highest price included in the USGS study) is estimated to be between 3.4 billion (95%) and 10.4 billion (5%) barrels (0.5 to 1.7 km³), with a mean value of 6.8 billion barrels (1.1 km³).[3]

The 10.4-billion-barrel (1.65 km³) figure was used in publications by the U.S. Department of the Interior while it was headed by Gale Norton, a proponent of drilling in the Arctic Refuge.[11]

The U.S. consumes about 20 million barrels (3,200,000 m³) daily. If the Arctic National Wildlife Refuge oil reserves were used to supply 5% of the U.S. daily consumption -- most is imported from Canada (19%), Mexico (15%), Saudi Arabia (11.5%), Nigeria (10.5%) and Venezuela (10.5%)[12] -- the reserves, using the low figure of 4.3 billion barrels (680,000,000 m³), would last approximately 4300 days, or almost 12 years. Using the high estimate, the reserves would last approximately 11800 days, or 32 years.

If the Arctic National Wildlife Refuge was used to meet 100% of U.S. demand, it would last for 215 days under the low estimate, and 525 days or just 1.4 years if it contained 10.4 billion barrels (1,650,000,000 m³).

[lab94]

Years ago I remember hearing that when the barrel of oil was less than $20 It was cheaper to buy it than to produce it in the US. At what doller agount in the US does it break even now to get the oil? If its $25 or $30 lets start, it will bring down the price and make more jobs. How long has it been since we opened a new refinery? 20+ yrs.

[vascudave]

lab94, on May 2 2008, 12:15 PM, said:

Years ago I remember hearing that when the barrel of oil was less than $20 It was cheaper to buy it than to produce it in the US. At what doller agount in the US does it break even now to get the oil? If its $25 or $30 lets start, it will bring down the price and make more jobs. How long has it been since we opened a new refinery? 20+ yrs.

good point lab...it's the not in my backyard mentality though.

[NittanyLion]

vascudave, on May 2 2008, 11:42 AM, said:

?????????????????that's if it would be used to supply 100% of us demand, even at that rate it would last at least a year +.


Technical projections and estimates

[edit] Estimates of oil reserves
A 1998 United States Geological Survey (USGS) study indicated at least 4.3 billion (95% probability) and possibly as much as 11.8 billion (5% probability) barrels (0.9 to 2.5 km³) of technically recoverable oil exists in the Arctic National Wildlife Refuge 1002 area, with a mean value of 7.7 billion barrels (1.7 km³). In addition, in the entire assessment area, which covers not only land under Federal jurisdiction, but also Native lands and adjacent State waters within three miles (5 km), technically recoverable oil is estimated to be at least 5.7 billion (95%) and as much as 16.0 billion (5%) barrels (0.7 to 1.9 km³), with a mean value of 10.4 billion barrels (1.2 km³). Economically recoverable oil within the Federal lands assuming a market price of $40/barrel (constant 1996 dollars - the highest price included in the USGS study) is estimated to be between 3.4 billion (95%) and 10.4 billion (5%) barrels (0.5 to 1.7 km³), with a mean value of 6.8 billion barrels (1.1 km³).[3]

The 10.4-billion-barrel (1.65 km³) figure was used in publications by the U.S. Department of the Interior while it was headed by Gale Norton, a proponent of drilling in the Arctic Refuge.[11]

The U.S. consumes about 20 million barrels (3,200,000 m³) daily. If the Arctic National Wildlife Refuge oil reserves were used to supply 5% of the U.S. daily consumption -- most is imported from Canada (19%), Mexico (15%), Saudi Arabia (11.5%), Nigeria (10.5%) and Venezuela (10.5%)[12] -- the reserves, using the low figure of 4.3 billion barrels (680,000,000 m³), would last approximately 4300 days, or almost 12 years. Using the high estimate, the reserves would last approximately 11800 days, or 32 years.

If the Arctic National Wildlife Refuge was used to meet 100% of U.S. demand, it would last for 215 days under the low estimate, and 525 days or just 1.4 years if it contained 10.4 billion barrels (1,650,000,000 m³).

That was my point, showing how much it would be to fully support the US shows how much oil there really is.

And yes while it may be a short term "solution", what about 12 years from now, when even using it for 5% of the consumption, it runs out?

[satellite_eyes]

From everything i've learned there is plenty of oil left in the world. The 2 huge factors are the limiting of the supply and the lack of new refineries as you guys mentioned. Something is going to have to give eventually.

[lab94]

NittanyLion, on May 2 2008, 01:33 PM, said:

That was my point, showing how much it would be to fully support the US shows how much oil there really is.

And yes while it may be a short term "solution", what about 12 years from now, when even using it for 5% of the consumption, it runs out?

Nit, thats the thing. If we start putting oil on the market, the price will drop. Then we can cut back on what we put out there. When prices go up again, we put it back out.

I also say any country that we send money to, should sell oil to us a discount rate. Why should we give them money,and they reap the benifits of the oil prices