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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (357364)	11/7/2007 3:52:23 PM
From: tejek	Read Replies (1) \| Respond to of 1573134

Sure, Steve, if 1-2 million extra supply would solve our problem. However, it won't. We consumer 20+ million barrels a day of oil. We produce 5 million. So we have a 15+ million barrel a day import problem. I challenge you to find a single oil exec in the U.S. who thinks the U.S. can find and control 15+ million barrels a day of new domestic supply. Not going to happen. I don't understand why they refuse to accept there is a problem and that drilling for more oil is not a great solution to the problem.

To: RetiredNow who wrote (357364)	11/7/2007 8:03:49 PM
From: Tenchusatsu	Read Replies (2) \| Respond to of 1573134

Mindmeld, > Sure, Steve, if 1-2 million extra supply would solve our problem. However, it won't. We consumer 20+ million barrels a day of oil. An extra 5-10% of production would have a substantial impact on prices, especially when demand for oil is inelastic. This is an economic fact that the anti-ANWR folks ignore when they say that the additional oil production would only amount to a "drop in the bucket." Tenchusatsu

To: RetiredNow who wrote (357364)	11/8/2007 5:55:11 PM
From: steve harris	Read Replies (1) \| Respond to of 1573134

I don't know how to word this yet, but I'll spit it out and maybe you can see the picture. Let's imagine for a moment the US started producing an oil alternative. We got off of $100 barrel oil completely. Gasoline made by this new alternative (ethanol, synthetic, Granny's tonic, whatever) will cost more than the current price of gasoline. So instead of $3 a gallon for gas, I'm optimistic and we pay $4 a gallon for gasoline made from our new alternative. What happens to the price of crude oil with the US not using oil anymore? en.wikipedia.org US uses 20 million barrels a day and China uses 6 million barrels a day. Think at what price China and India and other nations would be paying for oil after having removed the US demand for oil. How long do you think the US can compete in the world market by paying more for the alternative fuel while our worldwide competition gets a bonus by having their price of fuel reduced by a significant amount? Until someone comes up with an alternative cheaper than oil, without government subsidies, we're destroying our economy and future by paying government subsidies chasing a questionable alternative that has yet to shown is cheaper than what our worldwide competition is using. In other words, what happens to the US when you're paying $4 a gallon to fill up your car and truck, while the rest of the world may get a 50% decrease in the price of their usage?