Quote:
Originally Posted by jblue21
drilling now wont do a damn thing to oil prices right now, at the very least if they drilled tomarrow it would take at LEAST 5 years(pipe dream) to get it out to the market and realistically it would be 10 years. But thats not even considering the fact that there is a shortage of Rigs on the market to begin with. It takes almost 5 years to build a new rig and even rigs that arent even built yet already have contracts on them. And to get a rig built, the US will have to wait in line with petrobras, lukeoil, and many others that have rigs backordered. Your looking at, at least 15 years at least for this action to affect any supply and thats if they even find enough oil to even make a difference.
this action is purely political
|
Ah thats where you are wrong my friend.
First, actually it would take only 5-7 months to get new domestic oil infrastructure online. This has been proven by oil companies who are ready to go in as soon as they get the go ahead from congress.
Second, 5-7 months may still seam like a long time BUT just the action of congress passing this would cause #1 middle eastern oil producers to drop the price they sell the oil to us, and #2 the price speculators to drop the oil futures cost resulting in a much lower price until the new domestic oil actually hit the market.
Third, 11 TRILLION BARRELS OF OIL, just in one of shore location. That amount ALONE would make us energy independent from foreign oil. This doesnt even take into consider the TRILLIONS of barrels more located in Alaska, other off shore locations, and in our own mountains all across the united states.
» Sponsor Links
