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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: Snowshoe who wrote (69694)6/17/2008 11:01:26 PM
From: carranza2  Respond to of 74559
 
Americans can be very pragmatic so I expect to see the opposition to offshore exploration in new places subside, esp. if oil goes higher, and it will.



To: Snowshoe who wrote (69694)6/17/2008 11:05:46 PM
From: carranza2  Read Replies (1) | Respond to of 74559
 
Have you seen this?

apnews.myway.com



To: Snowshoe who wrote (69694)6/17/2008 11:32:06 PM
From: carranza2  Read Replies (1) | Respond to of 74559
 
Crist, maybe, but I think a deal was cut with Mitt Romney early on. The rest of the show is for show.

We'll see.



To: Snowshoe who wrote (69694)6/18/2008 1:28:53 AM
From: Elroy Jetson  Read Replies (1) | Respond to of 74559
 
I'd be very surprised to see Americans in the relevant (heavily populated) states, adjoining the offshore drill sites, support offshore drilling at current prices. So I think McCain has made a mistake - not that it seems likely he has any chance at the moment. Certainly no one will tolerate this sort of idea from Bush, whose endorsement of chocolate chips could ruin even that market.

I've been trying to imagine what price would change opinions. It's possible at $220 and $7.50 gasoline, but I still think it's during the next up-cycle. Two years from now at $220 a majority might warm up to an offshore production proposal from Obama.

Strategically for the US, it would be better if this resource were exploited next cycle when oil will be used primarily as a chemical feedstock rather than a fuel. But not many people are going to think in these terms. Chevron is happy either way.

Of course, after the drill rigs are up (no matter what decade that happens) people will wonder what the fuss was all about.