Saturday, May 24, 2008

US: Only Country to Limit Its Own Energy Supplies

This last week the nation of Brazil discovered enough oil sitting only 130 miles off their coast to give them the equivalent of nineteen years worth of oil by their current usage standards. That's nineteen years that they don't have to purchase oil from anywhere else.

Presently in territories under US control we have oil reserves that could eclipse that number by possibly 20 to 30 times. We have the technology to go get it with almost zero impact to the surrounding environment.

And in some places where we could go harvest it from - like the Alaskan wilderness, we would need less than 2% of the total territory to give us domestic oil production that would rival the output of what we purchase abroad and thus cause those suppliers to drop their prices. Off the shores of California, Florida, and other oceanside states further exploration could be had with no cost to the taxpayer and any reserves we would find would belong to the U.S. and thus allow us to control our own energy future.

Read more here.


At 5/25/2008 12:30 AM, Anonymous Anonymous said...

Fact remains that the middle east still has a tremendous cost advantage.

At 5/25/2008 1:28 AM, Anonymous Anonymous said...

Fact also remains that we could handle $300/barrel oil and still prosper.

Besides I want to use up the other guys resources before I tap into my own.

At 5/25/2008 6:24 PM, Anonymous Anonymous said...

This can't be true.

Chuck Shumer recently said that a million barrels of oil from ANWR would only take a penny off the gallon price of gas. While, a million barrels of oil per day from the middle east would ease the gallon price by $0.62?

It's like much better for the environment if we get from the middle east as well. Those are solar powered tankers.....

Right, Chuck?

""The Administration's newfound desire to increase fuel economy standards is welcome, albeit late since the energy bill that was signed into law last month did nothing to reduce our dependence on foreign sources of oil. Sky-rocketing prices at the pump are hurting American families and businesses and we should be doing everything in our power to reduce costs in the short term and reduce our dependence on foreign oil in the long term. - Chuck Shumer"


At 5/26/2008 9:16 AM, Blogger OBloodyHell said...

> Besides I want to use up the other guys resources before I tap into my own.

Actually, this may well be the quiet, backroom reason for not fighting this more.

We may pay out money now, while oil is cheap -- but we should be able to get that back and a lot more later on, when it isn't, selling our much higher-priced oil to everyone.

This mainly bets that someone will not develop an alternative (say, a really effective energy-storage technology) to chemical energy, but then, at worst, the usage of petrochemicals as feedstock for the manufacture of plastics, etc., should still keep the value high enough.

For the price to drop below current levels, you would have to develop at least two radically new technologies to supplant its current usages.

Not a particularly bad bet.

At 5/27/2008 9:03 AM, Blogger Jack McHugh said...

Michigan House Bill 5525 (Mandate state power production decline)

Passed in the House (81 to 18) on April 17, 2008, to mandate that electric utilities reduce the amount of energy they provide by 1 percent and gas utitities by 0.75 percent each year. To accomplish this they would be required to charge higher rates to pay for programs that “target customer behavior, equipment, or devices without reducing the amount or quality of energy services.” Utilities that fell short of the energy production reduction mandates could potentially be ordered by the Public Service Commission to reduce their prices.

You just can't make this stuff up.


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