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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Webster Groves who wrote (103162)	6/18/2008 7:11:56 PM
From: quehubo	Read Replies (2) of 206183

Thats nonsense. What difference does the ratio of USA production to Saudi production make? Where would we be today if ANWR was opened 10 years ago? Maybe 1 mbpd more production would mean more revenue for USA and lower prices. Of course there is merit to the argument that we should use our last reserves until extreme conditions. But another argument could be made that the present course will have foreigners owning so much of the USA they will be able to come in and buy our oil reserves. It seems a certain irrational section of the populace believes we should take a huge leap of faith that something will be there down the road to replace oil and coal. The behaviour change you seek will happen with or without incremental drilling offshore, because the impact on prices would be years away. Who knows what the S/D balance will be years from now.

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