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President Obama gives $2 billion for off-shore drilling

Discussion in 'U.S. Politics' started by BigRob, Aug 20, 2009.

  1. BigRob

    BigRob Well-Known Member

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  2. ASPCA4EVER

    ASPCA4EVER New Member

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    Lots of variables: depth of the oil reservoir, marine life and the impact upon them, our assisting (long range investments) this nation could possibly mean a new supplier for more petroleum (ie; better grade of crude oil, more neutral country to deal with, solidifying relations and fortifying our trade agreements) and if they were in need of the money; why not 'US' verses some one say like the Communist Country - CHINA! Seems a worthy place to invest some American $$$ IMO
     
  3. Greco

    Greco New Member

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    It's that it's such a problem, although the two Republican governors where most of the off-shore drilling would take place seem to think so. The issue is return on investment. I have several friends that are very successful geologists and they inform me there really isn't that much oil in the gulf. It's primarily natural gas, which we have no shortage of.

    Here in Oklahoma we have thousands of gas wells all capped, because of the low price. These well are already in and ready to resume production when the price rises. Additionally there are massive acres of unexplored areas for new gas wells.
     
  4. asur

    asur New Member

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    It makes no sense, since drilling oil in Brazil will not help the environment.
    Why does Obama want to kill the environment on one hand and then
    appear to want to preserve it?

    I'm starting to believe he is only a joker and nothing else.

    Drilling in the US would create real jobs, but then he appears to
    want to destroy jobs in the US.
     
  5. BigRob

    BigRob Well-Known Member

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    Isn't the whole idea to eliminate the need for "foreign" energy sources? Further, Brazil has openly challenged the United States in South America through support of the Bank of the South and other programs.

    I have no problem funding this, I just think it is stupid that we cannot fund our own drilling if we can fund theirs.
     
  6. BigRob

    BigRob Well-Known Member

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    Not according to Exxon, Chevron, and BP. There are estimates that 1 pocket alone found in 2006 contains more than 15 billion barrels of oil. An estimate for oil off of Cuba is around 20 billion barrels as well.

    There is not much production left in the shallow water, but the estimates in the deeper water (which we have banned drilling in) are huge.

    When those gas wells are restarted they will have lower output. In some cases, it will never be feasible to restart them at all.

    Further, the New York Times has reported that the nation gets 25% of its oil production from the Gulf, and only 20% of gas production. Nor can natural gas alone solve the problems of our oil dependence.
     
  7. Mr. Shaman

    Mr. Shaman New Member

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  8. ASPCA4EVER

    ASPCA4EVER New Member

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    I understand your frustration, but the core to our crude oil problem is not more production or new drilling it is the need for more updated refineries, that is America's problem. Our technology goes over seas to build the newest/biggest/best refinerines in the world...but nada for us. Now that is a real kick in the arse! :eek:
     
  9. Greco

    Greco New Member

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    Well, BigRob, guess you have your work cut out for you to persuade the governors of California and Florida, both Republicans, to quit opposing your contention.
     
  10. BigRob

    BigRob Well-Known Member

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    Well, looks like the Governor of Florida is on board.

    As for Arnold, I will let you know.
     
  11. BigRob

    BigRob Well-Known Member

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    I am all for building new refineries. I also would support more nuclear plants.
     
  12. TruthAboveAll

    TruthAboveAll Active Member

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    Yes, Crist is on board and supportive. Took a bit of convincing, and with China starting to suck up the supply of crude again on the global market, it's an issue that should be on the forefront here. Prices are going to go up, and at this time it could be devastating to our floundering economy.

    Don't hold your breath on Arney. The NIMBY-coast my be sunk too deeply into la-la-leftie land.
     
  13. TruthAboveAll

    TruthAboveAll Active Member

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    ASPCA, very true. Not necessarily the core, but a huge part of the problem. But it is primarily an influence on the flow (no pun intended!) to the pump. The base price dictated by the world market, especially with China buying petro contracts right and left, hasn't much bearing on our ability to refine. Or lack thereof.

    You are so right. We develop all this great, improved technology, and then we can't build the blasted refineries here due to governmental restrictions.

    I wish PBO would have taken that $2 billion and invested it into our system. Talk about a payoff! The jobs, product availability, efficiency, environmental benefits and taxes created could make that monstrous stimulus package obvious as the money pit it will eventually prove to be anyway.
     
  14. TruthAboveAll

    TruthAboveAll Active Member

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    Drill baby drill! Build baby build! Just imagine the economic stimulus from this!
     
  15. ASPCA4EVER

    ASPCA4EVER New Member

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    There are wind farms spouting up in quite a few locations (this being the 6th best wind movement location out of the top 10 windiest states) around me and I live one county line over (66 miles as the crow flies) from a nuclear plant...my county being the poorest in my state and that county being the wealthiest, just seems odd how that all shock down! Other than cattle the next large product we produce is crude oil and natural gas.
     
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