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No empirical basis that off-shore drilling will significantly affect gas prices
Submitted by bizgrrl on Fri, 2008/09/05 - 9:09am.
The U.S. Department of Energy's Energy Information Agency (EIA) projects that such drilling would add some 200,000 barrels of oil per day at peak oil production in about 20 years. This is about 0.2 percent of world production, and the EIA describes this as too small to have any significant affect on oil prices.
Check out the press release and report here at the Center for Economic Policy and Research.
This report attributes media reporting (or lack thereof) to American's opinions that off-shore drilling will lower gas prices, which is not true. The CEPR report shows, in Table 2, that of 267 major television news broadcasts mentioning oil drilling only one (less than 1/2 of 1%) mentioned EIA data refuting the claim that gas prices would be significantly affected.
Once again the media is manipulating public opinion. The media will possibly manipulate the outcome of this election.
Additional drilling may not have a significant effect on gas prices, but nationalizing our oil reserves and cutting yearly royalty checks to every American would sure ease the pain. Clearly that is why McCain chose Palin. He's going to bring Alaska-style socialism to the whole country, and Republicans are going to love it! We're all going to be rich, and then we'll all turn Republican too. We are going to be so rich we won't need health insurance because we'll be sneezing dollar bills and crapping gold nuggets. Look out Washington, change is coming!
More seriously, Jack, I can't think of a mercantilist economy that cuts every citizen in on the booty. Alaskans get oil royalty payments every year, just like Bolivians. I don't recall the Dutch and British handing out gold pieces to every citizen, but history is not my strong suit.
Submitted by redmondkr on Fri, 2008/09/05 - 1:35pm.
Isn't it about time for Big Daddy Something-Or-Other to ride in here in his Diesel Dually and give us half a page of 'reasons' why this drilling business is the greatest thing since sliced bread?
Additional drilling may not have a significant effect on gas prices, but nationalizing our oil reserves and cutting yearly royalty checks to every American would sure ease the pain. Clearly that is why McCain chose Palin. He's going to bring Alaska-style socialism to the whole country, and Republicans are going to love it! We're all going to be rich, and then we'll all turn Republican too. We are going to be so rich we won't need health insurance because we'll be sneezing dollar bills and crapping gold nuggets. Look out Washington, change is coming!
Socialism? I think you mean "Mercantilism".
I think you mean "Mercantilism".
Do mercantilists shit gold nuggets?
I'm pretty sure that would require an alchemist... or a rather unusual and expensive diet.
a rather unusual and expensive diet
Alaska residents can fish salmon all year long!
More seriously, Jack, I can't think of a mercantilist economy that cuts every citizen in on the booty. Alaskans get oil royalty payments every year, just like Bolivians. I don't recall the Dutch and British handing out gold pieces to every citizen, but history is not my strong suit.
Isn't it about time for Big Daddy Something-Or-Other to ride in here in his Diesel Dually and give us half a page of 'reasons' why this drilling business is the greatest thing since sliced bread?
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