Sharp fall in gas costs drives down measure of US consumer prices by most in 3½ years

[Cyclone Ranger]

The cost to explore and drill in, say, Manitoba is so much higher than the Mideast reserves there is no logical reason to believe it could affect the market.

[hadit]

So why not just open everything up for exploration and let the oil companies figure out how to extract the oil in a cost effective manner? If it's too expensive, it stays in the ground. If not, we get more oil at a lower cost. Win-win all around.

[Chachma v'Oz]

First one to pump up the last of the world's oil "wins". That's a noble goal.

[86Dùde]

Gas just went up 30 cents in one day here. Looks like the faggot in chief is rattling his sabres again.

[Chachma v'Oz]

Ours are still trending down, $3.88 to $3.60 over the past 30 days ending 6/21. We must be immune from the forces that dictate oil prices where you live.

[86Dùde]

Don't worry, it will catch up with you. Ours trended down significantly and then boom. Same shit, different week.

[hadit]

First one to pump up the last of the world's oil "wins". That's a noble goal.

No one has it as a goal. Strawman.

[Chachma v'Oz]

All this talk up finding and pumping as much oil as humanly possible seems to ignore the fact that it's a commodity in finite amount.

[hadit]

All this talk up finding and pumping as much oil as humanly possible seems to ignore the fact that it's a commodity in finite amount.

Far from reality that statement is. Utilizing our own supplies of oil is a national security concern. Ensuring we have sufficient supplies of oil while the private sector finds and perfects the best replacement for it simply makes sense. Leaving accessible oil sitting in the ground does not. One path leads to petroleum increasing in price until alternatives become economically viable. The other leads to abrupt and extreme cost increases and shortages, accompanied by economic disaster.

[Chachma v'Oz]

Using up our own supplies rather than protecting them is short-term thinking for short-term gain. As long as others are willing to exhaust their supplies for our benefit, we hold all the cards.

Think it through.

[hadit]

Using up our own supplies rather than protecting them is short-term thinking for short-term gain. As long as others are willing to exhaust their supplies for our benefit, we hold all the cards.

Think it through.

I have. Why do you think we are militarily invested in the ME? If all we wanted to do was protect our ally Israel, we would not be so entwined with the Saudi's, for example. And, as demonstrated in the '70's, when he who controls the supply of oil decides he either wants something from us or wants to damage us, he has a powerful weapon in his arsenal.

[86Dùde]

We're past peak oil. The earth's population is fueling strife and foreign policy to secure resources and empire. This will not end well for us.

[Chachma v'Oz]

I have. Why do you think we are militarily invested in the ME? If all we wanted to do was protect our ally Israel, we would not be so entwined with the Saudi's, for example. And, as demonstrated in the '70's, when he who controls the supply of oil decides he either wants something from us or wants to damage us, he has a powerful weapon in his arsenal.

That's my argument. I convinced you that easily?

[Chachma v'Oz]

We're past peak oil. The earth's population is fueling strife and foreign policy to secure resources and empire. This will not end well for us.

Probably true, and the prudent position would be to protect our limited resource, not burn it up for short-term gain.

[hadit]

That's my argument. I convinced you that easily?

No, your argument leaves us at the tender loving mercy of people who hate our guts and want to see us destroyed. If we ensure our own supplies, we can tell them to pound sand while we develop the alternatives everyone ultimately wants to use.

Personally, it would be worth it to me to pay more at the pump if I knew OPEC could cut off supply and we wouldn't care.

[Chachma v'Oz]

Protecting our own supplies in no way leaves us at anyone's mercy. That makes no sense whatsoever.

[86Dùde]

Probably true, and the prudent position would be to protect our limited resource, not burn it up for short-term gain.

No argument here.

[hadit]

Protecting our own supplies in no way leaves us at anyone's mercy. That makes no sense whatsoever.

You must be too young to remember the '70's, and maybe you're not paying enough attention to know why we haven't destroyed Iran's nuclear capabilities yet.

[antiquity]

All this talk up finding and pumping as much oil as humanly possible seems to ignore the fact that it's a commodity in finite amount.

It will have to do until an alternate substitute is found either to the current combustible engine or the gas we put into the current ones.

[antiquity]

Using up our own supplies rather than protecting them is short-term thinking for short-term gain. As long as others are willing to exhaust their supplies for our benefit, we hold all the cards.

Think it through.

Eh...like buying crude from countries that support terrorism? I am sure they will welcome your solution and your money.