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Politics : View from the Center and Left

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To: greenspirit who wrote (75995)	7/21/2008 9:41:27 PM
From: Cogito	Read Replies (1) of 541945

>>Does Raines really believe 10 billion barrels or more of oil in ANWR are meaningless toward the price of oil? Does he really believe it wouldn't help America become less dependent on foreign sources of oil? Does he believe the 80-100 billion barrels of oil off the coast of the United States would not make a difference to the price of oil if it were allowed to be extracted? Locking up our energy resources and sending billions upon billions of dollars overseas to dictatorial governments is economic insanity. The Congress and President should be doing everything they can to fast track the bureaucratic process in order to allow American oil companies to start pumping oil from within our borders. They should also fast track the process of building new, or expanding old refineries.<< Michael - I agree that it makes no sense to send billions of dollars overseas for oil. But ANWR doesn't hold the key to stopping that. By the way, refinery capacity isn't an issue. American refineries are currently running well below maximum capacity. And while it's true that no brand new refineries have been built in a long time, it is also a fact that additional capacity has been added to existing refineries, equivalent to a whole new refinery per year for the past fifteen years. As for ANWR, 10 billion barrels of oil, which we would see in eight to ten years, would not make much of a dent in oil prices by that time. It certainly wouldn't affect them this year. My last point is that the oil companies don't have enough rigs available to drill for oil where they already have leases, including the Gulf of Mexico. There's a worldwide shortage of deep water rigs. The oil companies are just feeding you a line about how they can't increase output because of all the restrictions that have been put on them. You talk about the environmentalists and who you think they serve. Who do the oil companies serve? Certainly not the American public. - Allen

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