But if we start drilling now, we wont see a drop of oil for 10 years......right?

Well first of all, that's NOT true. The actual oil people (not the tree hugging environmentalists that we see all over the liberal mainstream media) say we'd see oil in 2 - 3 years. And, for liberals sake, lets say it does take 10 years, Bill Clinton used that same ';10 year'; excuse when he denied drilling leases when he was in office. Guess what, we'd be seeing the benefits of that right now wouldn't we?





Here's the question, and for all of you people that like to hit the ';report it'; button and claim anything you disagree with ';isn't a question but a rant';......this is CLEARLY a question.





What do you think oil prices will be like in 3 years from now, 10 years from now? $6 a gallon, $10 a gallon? When is the right time to start drilling?But if we start drilling now, we wont see a drop of oil for 10 years......right?
Even if it would take ten years, that's a lot sooner than the ';sit and stare at the oil'; approach.But if we start drilling now, we wont see a drop of oil for 10 years......right?
Not really a five star answer, but it is simple, clear, and to the point. Overall, a good choice with which I fully agree. Report Abuse

I think the main problem facing this country today is how short sighted we have become. That goes for oil and gas refineries, to terrorism. We need to be thinking about our children and our grandchildren a little more. No, we may not see an immediate change in prices, be it 2 years or 10 years, but we must reduce our foreign oil dependence. We've known it for years, but have not done what it takes. Maybe this is the time our country really starts to resolve our addiction.
Sorry, but America needs to have high oil prices to force it to change and become more efficient. Oil will become more and more scarce in the future and what's left will be very expensive to extract. Let's say we did drill our own oil and somehow (not likely) gas prices were reduced to $1.89 a gallon. What would be the response of the American people? Buy more giant SUVs!!! No, we need to learn to conserve oil NOW and have the incentive for private enterprise to come up with long term solutions.
Let's see... a projection of 10 years by ';treehuggers'; who don't want any drilling and never will, and a projection of 2 or 3 years by an overly optimistic oil industry PR machine which has been spoiling to get their hands on domestic oil resources in public lands for decades.





Whom to believe, whom to believe...?





We're SOOOOOO screwed.
So you think that a little incremental supply will have a major effect on oil prices which are set by the INTERNATIONAL demand and supply ???





This is extremely naive.





Unless you cut free trade with other countries, the impact on prices will be limited.
So what, at least it will be there for our future generation, you sound like Barry Soetoro, if we had done this 10 yrs ago we wouldn't be tied to all those damn forgein countries. We need true INDEPENDENCE.


What is your problem?





MCCAIN 4 PRESIDENT 2008!!!
Since no 1 seems to have a clue%26gt; Nobody moves nobody gets hurt%26gt;So do nothing nothing get's done %26gt; So lets drill and see just what does happen%26gt; At least we will see more fuel%26gt;


Isn't that the idea of drilling for oil??But that make to much since%26gt;
Actually it is completely true. It would take at least 10 years. Email a company like BP or Exxon. They will tell you this and all the reasons it takes that long. I didn't believe anyone either, so I went right to the source.
In 10 years China will own us and they will drill ANWR anyways, and in the gulf, and off of California, and anywhere else they find oil, because anyone that protests will be shot.
There is no oil shortage this is being driven by greed, period.


Greedy oil producers, greedy oil companies and greedy speculators.
Regardless, we won't see lower oil prices. The issue of oil prices has to be attacked directly and not deflected through chants of more drilling.
You'll never convert the enviros, and the Dems are on the take.
You and people like you just don't get it do you? It doesn't matter that you have gotten accustomed to your lifestyle, or for that matter me mine. Oil is a finite resource, and you and people like you think drilling more holes into the ground will solve our energy challenges, it won't. Oil is still eventually going to be gone. OPEC grabbed our balls and started squeezing in the early seventies, they gave us our warning decades ago. Did we listen? No, and here we are thirty five years later still talking about oil when we have had more than enough time to change our own energy policies and structures in this country. At four dollars and going for a gallon of gasoline I can't believe you still have faith in the oil experts. Wake up already.
Oil isn't the problem. There isn't a shortage of oil yet. The real reason of why the price of oil has gone up is based on monetary values.





Oil is traded in US dollars as the standard. So, when you fund a War that is costing 10 Billion a month in operations, have reduced taxes on the wealthiest, the only way to raise money is to 1) Float more bonds and T-Notes (which China buys up) 2) Just make more money at the Treasury. This causes the dollar to 'devalue' in monetary markets. Therefore the prices of all things valued by US greenbacks cost more.





Drilling for more oil won't change a damn thing. We have oil wells in Texas that have been capped because years ago they were deem not worth the costs.





Things cost more because our money has less value. Ron Paul was talking out his butt on returning to the Gold standard.
2-3 years is nonsense. Who are the ';actual'; people you are referring to? What right wing blowhard have you been listening to? The Alaska pipeline is nearly at capacity and there are already problem with sections of it. How would the oil get from Anwar to the ports? Do you think another pipeline can be built in 2-3 years? Aside from Anwar there are leases that the oil companies have that they have chosen not to explore, so your attempt to blame it all on Clinton fall flat.


I never hear the people who chant ';drill, drill, drill'; ever say a word about reducing consumption. That would have the most immediate impact on the price of crude as would forcing the oil speculators to actually take possession of the oil they buy. Right now they can buy and sell oil without ever having to touch it, damaging our economy in the process. There is virtually no control on the buying and selling of crude oil futures.
Drilling for more oil isn't necessarily going to ease the prices. What you're thinking is true that the oil will be refined and ready for use within 2-3 years (a decade at most). But here's the thing. Drilling for oil is an extremely expensive process. The oil companies just aren't willing to risk that much money on drilling just to reap a few cents. From a business point of view, it's crazy.





Let's say the oil companies DO drill. The costs of drilling (which are pretty high esp. if they have to drill deep) will reflect that at the pump. You don't expect the oil companies to just take the costs all in by themselves do you? Unless the government funds the drilling (with our money by the way), they'll just charge us a bit more at the pump to make up for the drilling costs.





Also, you're assuming that no other country will increase their consumption of oil. That's the only way prices will go down, if no other countries' demand for oil increases. But that won't happen either. China and India are demanding a ton right now and they're not going to stop anytime soon. Their economies are booming and it'll be a fairly safe assumption that they'll just demand more as time goes on. So even if we DO drill, increased demand will probably keep prices higher anyway.





What you say makes sense. But you're assuming too many things. First, you're assuming drill costs will be absorbed by the oil companies completely. Second, you're assuming demand will decrease or stay stagnant, which it won't.





The best alternative is to adapt to the higher gas prices and begin looking at alternative fuels. We're going to have to look for alternate fuels eventually anyway. Why not start now ahead of everyone else?
Even if we were to rush drilling operations with greater risk of environmental damage it would only reduce gas prices by a couple of pennies. There is no reason right now for prices to be so high anyway, it is artificial. Speculation on oil futures is driving the prices, not supply problems. In fact, there is greater supply than demand right now and the cost of producing oil has not risen, only the price and profits. Over a ten year time period it would make more sense to develop alternative energy sources which would reduce demand and directly drive down the price of oil and make America more secure in our energy resources. We don't need MORE oil DEPENDENCE, we need to be independent from oil.





This is a security issue as well as an economic issue. Oil funds terror.
What people have to understand is that there is no ';quick-fix'; solution. It will take time once we start drilling to see an effect on the price of a gallon of gasoline. However, it will take even more time if we rely purely on alternative sources of energy.





What we need to do is drill in the short term, as well as producing new refineries to get us off our dependence on foreign oil. In the long-term, however, let's research alternative energy sources, and not limit our horizons to sources like Solar energy. Let's open up research on others, like clean coal, wind, nuclear... and the list goes on.





When is the right time? The right time to drill and build is NOW!





When is the right time to research? The right time is NOW!
Exactly, oil prices will be astronomical if we can even still obtain the foreign oil! Clearly the Democrats made yet another horrible decision 10 years ago 1998, because guess what? We're there, we're ten years later and look at us. If it takes 2-3 years or 10 years we have to start.





And I agree that it's also a matter of national security. Do you realize when you fill up your tank at any number of gas stations you are sending money to countries who harbor terrorists who want to kill us???? Sunoco and BP currently do not rely on foreign oil, and that's where this girl buys her gas.
Liberals do not see into the the future with the same clarity that others do. They looked into the future and saw the elderly living comfortably on social security, they did not see what they should have known, SS going bankrupt. They look into the future today and see in ten years a wonderful new technology of green energy powering the nations cars and heating and cooling our homes and there no longer being a need for oil so why start drilling for it now when we won't need it then? And you know that Liberals have never been wrong!
Well, the US sits on about 3% of the world oil and at current rates consumes about 1/4 of the world oil. We are facing increasing competition from India and China. We are also looking at a commodities bubble. Beyond that, oil companies have access to 4/5 of land of offshore that is capable of being refined and 68 million lucrative untapped areas. There is a refinery on its way in SD as we speak while the older refinineries have increased production. Plus, we just put 4 big oil no bid contacts out on oil in Iraq. So, basically we've got a lot of control and a lot of oil, so if we continue consumption at this rate we're going to continue to see high gas prices no matter what.
Honestly, we're using way too much oil and I'm completely sure that next generations will have to find another source of power. For example, Electricity.





Cars and other vehicles that run on electricity won't be fast, at all, and today - speed is important because there are alot of races going on at all times throughout the entire world.





Hundreds, millions a day.


Whether it's a street race, or a proffessional race.





If we don't start saving oil, using less - there won't be any and our future generations will look down on us and hate us for what we are and what we've done. The only difference between this generation, and world war 2 will be the fact that alot more people died in world war 2 - but we're destroying our earth today aswel.





All this puts alot of trouble into next generations because of the damage we've caused to the atmosphere, and although Global Warming is mainly from changes in our sun - Our atmosphere is meant to prevent any extra heat from those changes and if we continue to destroy it, we'll be hated more by future generations even though we are humans and they will be humans.





There's alot of other things oil is used for, some type of oil for food - some for vehicles, other for machines and we're using alot. As we all may know, oil doesn't last forever and it certainly won't be around forever if we keep on using it as we are now. Gas prices are (ofcourse) going to increase due to the decrease of oil (ammount), they'll be making more money than ever but eventually it will all stop.





Those who save oil will be able to continue doing what they are doing, others will be left with barely any transportation or other machines. After some time, everything will run on electricity - and oil will be gone forever.





The oil companies will be drowning in money, as we'll be suffering from the disaster - many will lose their jobs due to loss of transportation, other's may even die.





Oil won't be around forever - that's for sure.
One thing missing from most of the debates I see about oil is the unprecedented effect of large scale speculation and price manipulation in unregulated markets, which amounts to at least 50% of the current NYMEX per barrel price of oil. One Exxon VP testified before the Senate that in his estimation the price of a barrel of oil would be around $55 if market manipulation were not taking place.





This is fact, and is now a part of the public record.





For accurate information and sound basis for discussion I suggest to anyone really interested, take a look at the Senate Commerce Committee hearing of June 3 2008, ';Energy Market Manipulation and Federal Enforcement Regimes';, and the testimony given there by people who are well-versed in futures trading and market regulation. I have provided the link below.





If Congress took immediate action on the facts revealed by that testimony, we would see a price drop of at least $1/gallon by next month. Obviously there needs to be more self-sufficiency in oil production, but if speculative leeching is allowed to continue, the price of oil will remain artificially driven by entities who have no interest in, nor allegiance to, United States citizens, and who have literally nothing to do with the physical delivery of gasoline.





Energy Market Manipulation and Federal Enforcement Regimes hearing:


http://commerce.senate.gov/public/index.鈥?/a>





In particular examine the testimony of Greenberger, who served in high level capacity at the CFTC:


http://commerce.senate.gov/public/_files鈥?/a>





~~~~~~~~~~~~~~





EDIT: I'm betting that my ';thumbs down'; voters didn't even bother to go and read the hearing testimony. Tsk tsk. Well, good luck at the pump. Oh and give my regards to Morgan Stanley and Dubai. ;-)