Do you think SIMPLY drilling for more oil will reduce gasoline/diesel prices?

Question

Many people say to me, especially here in Texas, "They need to open up ANWR and the Gulf of Mexico for drilling, and there are lots of capped wells in Texas that could be pumping...." To which I reply, that's not the problem: What we need before we drill more, or begin oil shale exploration, is to build more refineries to PROCESS the oil, and we haven't built a new one in decades. Our refineries our AT CAPACITY!

So, how many of you agree with me that the paperwork involved to get permits for refineries should be rewritten? The technology to build safe and environmentally friendly refineries is there, let's DO IT!

Answer 1

Nuke for Oil ? Or yet just tell all these places that we depend on oil from . Just tell them We will pay you $10.00 dollars per barrel take it or leave it,and after about say three months if they refuse our offer,and they start getting all their stoage areas filled no room or space to store their oil! Well then guess what ? They would drop the price of oil in a heart beat.

But our Goverement would need to grow some really big BALL"s to tell the American oil company's that the end of them making such high profits has came to a close. It's high time that America start's taking care of America,and the American people. The "h**l" with all these other countries. Take care of number one first and foremost ! We alway's send everything overseas to take care of non-Americans  and dump on the true American's . The one that made America what it is today ! We do not need another Preisdent that only thinks of himself ,and his friends. We need an American President that will take America back to where it was eight years ago ? No War ! No Loss of American Military men & women. We need to watch out for our number one priority,and that my friend's is AMERICA ! Stop all the waste and spending ! And why should our X-president still draw a pay check for serving this great Nation they should do this work for free,it's something they spent millions of dollars on to get the job to start with. So do all the rich politicians need that money to start with ? They don't pay into socail security but yet they have a say into it.Makes me wantta puke.

OK my blood pressure is getting just a little high so I gotta back off now ! But just keep in mine what you need to tell your goverement about all these issue I talked to you about. God Bless The U.S.A.

Answer 2

The problem with the price of oil, has to do with the American economy.  It is very bad right now due to all the debt it has from the war.  The oil prices are very connected to the American economy, and this effects the prices all over the world.  If the economy was better the prices would be better.

Answer 3

You are right! But the problem is two fold. Out dated refineries and lack of supply. We need to deal with both problems. We really do not need to drill more. We need to uncap wells we already have. Like Gull Island. It is believed Gull Island well has more oil than all of the Middle East. Then while we are pumping that baby dry and leave the OPEC oil alone. We start finding new alternatives and improve the ones we have. This will keep the economy going, eliminate our dependence on people that want to kill us and give us time to wean ourselves off the dependence of oil.

Answer 4

US top trade groups already demand an end to oil speculation, but Congress do not act and Media do not report

"Leading energy experts across the country agree that recent, unprecedented jumps in crude oil prices are due, in large measure, to rampant speculation in the energy commodities markets.”

“19 of the nation’s top trade associations, consumer groups and labor organizations, the coalition urges “immediate reform in the widely-speculative energy commodity futures markets.”

http://www.travelagentcentral.com/air-tr...

Answer 5

No, drilling is not the answer. They should just bring the alternative fuel options that they have over in south america. And bring back the carburator thats 100miles per gallon that the devolped in the 1940 s.  its a business!!!!Coporate 1st profits 1st.Think about this we support them They collect alot of taxes paycheck grocery food imported goods recration vehicle i could keep going on the taxes that we pay How many of you out there are able to live with alot of money in the bank always having enough to pay all your bill to where 4$ a gallon wouldnt bother you? probally 10%  that would be the politicians and corporate people. so think about it why would they try to save you money or do whats good for us probally not look at there track record.

Answer 6

drilling for oil won't make the prices come down any time soon but eventualy it might. but it will still be run by the greedy oil people we already have ,so I guess we will continue to be at there mercy.

Answer 7

Regardless of refinery capacity more oil, in the long term, would drive down the price of oil. Short term, we are probably at the mercy of world events that drive the world market prices. The "greedy" American companies like the higher prices because they make more money and can seek oil in places that require more expensive new technologies to recover. Refinery construction would have a positive effect on the price of fuels. Supply and demand are always a part of the price of oil and of the fuels refined from oil. Congress is perhaps the greatest American obstacle to long term lower prices of oil and its derivatives because they block the ability to increase the supply through troublesome laws and regulations. Finding ways to decrease demand would also be smart, but all are long term solutions. Short term price decreases will only result from stability in the regions that produce the most oil.

Answer 8

Absolutely!!!!! Simple economic principles of supply and demand..if you drill for more oil you increase the supply thus lowering the high demand. Seems simple right? Then why don't we do it?!?! Mainly because everyone is looking for a quick result, drilling for more oil off the coast of California and/or Florida won't relieve us of our economic crisis until about 5+ years. But by then, who knows how much our middle eastern friends will be charging us?! Let's make this better for us and our children, be a self reliant country, and rewrite the permits so they won't ever have to pay 5 bucks for a gallon of freaking gas! And maybe by that we can be on the right road to rebuilding our great American dollar that isn't worth c**p in England!

Answer 9

OR, raise the cafe standards to cars use less gas.

oh my, what a ridiculous idea.

Answer 10

of course refining capacity will help, but with crude prices at 140+ a barrel, drilling is necessary.

ANWR, coast, western north dakota... all are expensive places to drill, and it's expensive oil to get to, but it helps offset the global demand and keeps prices from skyrocketing further.

Answer 11

obviously it will reduce prices, but it will deplet all of our  resources.  It is only a temporary fix.

Answer 12

Sure.  We can push back the problem five or 10 years.  Then what?

Answer 13

Yes, I think that drilling for more oil will lower oil prices. It is called supply and demand.

I ALSO think that you are correct, In stating that we desperately need more refinery capacity.

But I do not think that we can build a refinery that can do the two things we need to do-refine gasoline economically AND get past the very strict EPA regulations of today.

So instead we buy gas from refineries in other countries where they produce massive amounts of pollutants.

Is it not the same environment? Is this penny wise and pound foolish?

Can we say "not in my backyard"

I think that we could ease up on the EPA regulations, lower gas prices and still produce refined products at a fraction of the pollution output of other countries.

I also think that this would be what is best for us all in the long run.

Now lets consider who the greedy oil people are! Could it be the stock holders, as in just about every major investment portfolio and retirement group in the country.

And yes, I believe it will bring down prices very quickly, it is called the futures market, or oil speculation.

Answer 14

THERE IS NO SHORTAGE ON OIL!!! the speculators are the reason prices are so high, they are predicting for something to happen so they are getting as much money as they can before something happens:war, shortage, etc...

Answer 15

Drilling & finding more oil is no guarantee the prices will go down.  More refineries might be nice, but how that many places (esp in California) have allowed far too many homes to be built in & around the EXISTING refinery locations, people are screamin NIMBY (Not In My Back Yard)!  

It seems that no matter how much safer the refineries have become, it's gonna take a lot more than a few facts & statistics for the general public to put their stamp of approval on any types of businesses that will bring potential harm to their neighborhoods & it's residents.  

Most of the people now living in the refinery areas have located there from somewhere else & have no idea how clean the new operations are compared to the way they once were when they started up production years ago!



I think the key is to allow the communities with the refineries to set their prices lower so the members of that community can get a concession for having to put up with all the "concern" over health & safety issues.  

I'm in central California & can see the refinery, yet I am paying top dollar ($5+) for 87 octane!  

TEXAS & CALIFORNIA currently have the most refineries in their states.  30 other states also have refineries in them.  I'm certain the people in those areas would appreciate a break in gas & oil prices too!

Give the people hope & they might let more refineries into their communites.  

Give them a CASH incentive & savings promise with a guarantee in writing & the oil companies can get what they want.  

It seems the property values are no longer a question in my state.  

People are buying anything that is within their price levels!  They don't seem to care if it's within range of a nuclear missile site OR an oil refinery!

Answer 16

its more a matter of survival than of economics or gasoline prices.

we cant keep sending our money to a country who is using it to develop nuclear weapons & already has a number of submarines in operation.

its only a matter of time before Iran uses some political crisis as an excuse to close the persian gulf & the gulf of oman to all U.S. friendly tankers. when this happens the U.S. will effectively be out of business ( how will you get to work if your gas ration is 25 gallons per month?) keep in mind 1 small crude nuclear torpedo or suicide sub can easily sink an aircraft carrier & most of its support ships.

we have an estimated 400 BILLION barrels of oil (probably much more)in the north dakota bakkan formation alone. its imperative for national security that we start a crash program to develop & process this resource as well as  known off shore fields.

if the world political  situation improves we can use it to keep prices down & the economy rolling for the 25 to 40 years it will take to get the new alternative energy sources built & on line on a large enough scale to replace most of our oil dependence. untill then we are standing on a shaky chair with a noose around our neck in a room full of people itching  for the chance to kick the chair out.