Politics of Energy Message Board

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Politics : Politics of Energy

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To: miraje who wrote (297)	6/12/2008 3:47:09 PM
From: Road Walker	Read Replies (1) of 86355

North America is awash in hydrocarbon resources. Not just the oil and gas reserves that are currently off limits, but add in oil sands, shale and coal to the mix and we have enough to easily last through the multiple decades it will take to transition to other alternative energy sources. We have very little oil compared to our needs. And it would take longer to transition to natural gas vehicles of gasoline from oil sands, shale or coal than it will take to transition to more efficient vehicles and other "energy clients". That's not the point. Any small incremental increase in supply can have a big effect on price. A large part of today's high prices reflects the fact that the historical cushion of excess supply capacity is gone. There is no margin of safety for any supply disruption. We're tiptoeing on the edge... We are over the edge. Hard telling, not knowing. Open the areas that are now off limits and see what happens. Most likely the same thing that is happening in the areas now open... nothing. The oil companies fix their gross profit percent so the higher the price of oil the higher their profits. No incentive to drill and lower their profits. That's the same old spin and mantra right out of the Sierra Club's handbook. Silliness. Getting serious about drilling and developing more of our own resources will certainly help to brings prices to a more reasonable level, as well as taking the edge off of sky rocketing food prices and inflation in general.. Yes it would... talk to the oil companies. In the meantime the low hanging fruit is efficiency.

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