Drilling more here won't do much. Then they'll just cut production further. Its not like the US can drill that much more oil any time soon anyways. Minimum 5 years for any new production to hit the market and 10 years for any significant amounts. By then who knows what oil prices will be. I say all the worlds power get together and just rob the hell out of all OPEC countries. Who gives a crap about Chavez anyways?



I remember watching CNBC a few years back when Naimi (sp?) the Saudi oil minister was saying that they would like to keep the floor price of oil at 50 or 60 bucks. Every time oil rose further than that they kept raising their 'floor' price target. I hope these suckers realize the world will remember their greed and however many years later when the world doesn't need their fossil fuel, lets see how this plays out.



Hybrid is expensive because its a new technology. Soon many automakers will have a large portion of their cars available as hybrids and the price is going to fall much faster than the US can drill for more oil. I believe a premium for hybrid such as the RX 330 (350?) was around 9 grand. which is about 25% more than a non-hybrid. I'm guessing in just a few years hybrids will be available for around 10-15% more than non-hybrids and then they will be much more affordable for everyone. It's kind of idiotic to say its pointless to go for more hybrids and just drill for more oil when the latter will take much longer to materialize.

 

im sorry, do you know a magical way of getting approved by the government, conducting geologic surveys, building riggs, pumping oil and refining it faster than what the major oil companies do at this point? nobody said don't drill for more oil, there are many new alternatives to mid east oil that are being worked on (oil sands, oil shale, clean coal) but why work on just one? hybrids are the best way currently to slow down the rising appetite for fossil fuel and can be used to slow the process of increasing comsumption while the rest of the world (non opec) figures out the best alternative energy sources.

 

Oil rises above US$71 on expectations of OPEC cut

Published: Friday, October 17, 2008 | 12:44 PM ET
Canadian Press: Stevenson Jacobs, THE ASSOCIATED PRESS

NEW YORK - Oil prices rebounded back above US$71 a barrel Friday as traders bet that OPEC will announce a sizable production cut at an emergency meeting next week to stem crude's stunning collapse.

........the rest : http://www.cbc.ca/cp/business/081017/b101774A.html

.

 

US economy which uses 25% of all the oil are in recession and it gonna get worse. That in tern causes world economy to slow down/tank. In this environment oil is not gonna hit $100 no matter how much production cut OPEC make. Funny how oil at $140 "experts" were spewing out "peak oil" and NYMEX were trying to post futures at $200. We won't see $100 oil until after the US economy recover this down turn, IF we see that $100 oil at all.

 

Look at my earlier posts. I'm pretty sure I said we should do both. I'm saying though we shouldn't mainly focus on alternatives while we have a HUGE supply of oil here ready to be drilled and refined....

 

well, I got the impression that you were saying hybrids are useless because of costs and inefficiency. hybrids are a great way to reduce increase in consumption.


with that said, I need my 15 mpg V8

 

Hybrids are something smart to MOVE TO.. but only when its time for the consumer. Consumers buy/lease their vehicles on a fairly regular schedule. When people are ready to buy a car to replace a dead/old one, then picking up a hybrid is not such a bad investment.

But I agree with jewcano, hybrids aren't possible for a lot of people in this country. It takes time. For my next DD, I plan on a 25-30mpg car, it might be a hybrid, it may not be. But it'll get WAY better mileage than my SC

 

I think we should do it all, wind, solar, hybirds, nuclear, drill, oil shale, or any other new technology that can be effective. The problem isn't with the technologies, it's with Congress. The stupid idiots keep getting in the way.

I keep hearing this mess about we can't drill our way out of this crisis but how the hell do you know that?! They claim it will take ten years for the new oil to make an impact. That's a big lie. We already know where most of the oil is. The studies are already complete. Don't believe me, go look at the MMS website.

How long will it take for wind to produce the kind of energy we need? Have you ever heard noise that come from one of these farms?! How long will it take solar power to help with the crisis? Have you priced this stuff lately? Even the rich don't buy it. Hell for that matter the government with it's "unlimited printing capabilities" won't touch it. The solar panels will have to be replace over and over again; who can afford that. Hybirds have been around for years but most people refuse to pay the markups or down size. We have more oil locked up in our oil shales than the Saudies but the stupid idiots in Congress won't allow us the extract it. The hyper enviromentalist have taken over the government. To hell with the blunt nose lizard! They held up the completion of HWY 90 in Louisiana for 12 years because of one stupid bird's nest. That's not hype my friend, that's a fact. Why not just relocate the dumb bird!!! Please don't get me started on ethanol. The only people happy about that mandate are the corn farmers. The farmers are loaded while the rest of us pay $6.00 for a pack of chicken with five drumsticks, $4.00 for a half gallon of milk, and $3.50 for a dozen eggs. On top of all that there are reports that the crap may damage engines.

We are suppose to be a capitalist nation (except when it comes to government and wall street where capitalism = GREED!!! Wall Street's moto: As Gekko once famously stated, "Greed for a lack of a better word is good.") so why don't we let all of these technologies stand on their own merrits and let the people decide which they prefer.

If Congress would just get the hell out of the way I'm sure most of these technologies would make it on their own but they need to score votes with our money.

I can't believe that America wants the same people who started the housing bubble with their so called fair housing legislation to "help" get us out of the energy crisis. Have we not learned anything. Helloooo; FEMA, social security, HUD, Fannie and Freddie, energy policies, medicare, SEC, FDA. Give me a break! We must be the stupid ones if we continue to look to big government for help. LORD help us.

 

Toyota and Honda are working on making their hybrids more affordable - but IMO Honda's IMA is a simpler system than Toyota's hybrid system - the new Insight will start at $18-19K, about that as a Civic LX or a fully-loaded Fit Sport.

 

very admirable. Is that what you do when you want something you cant afford?

While we're at it, anyone else you would like to rob?




You mean back when the dollar was worth something? When the value of the dollar decreases, the value of oil, like everything else increases. So that floor will naturally raise.

 

So what you're saying is... you condone those that rob but want to wag your finger at someone who condones stealing from those that have already stolen?

Thats very admirable of you. Very short-sighted as well.

 

Where do I condone robbers? and what have they stolen?

If your referring to oil rich nations, and the price of oil, then i'm not sure how its robbery when you have a product/commodity with high demand. Isn't this what the free markets are all about?

If you think they are robbing you, by all means, boycott them and get yourself a shiny bike.