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View Diary: Offshore Oil Drilling: Politics Trumps Science. (49 comments)

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  •  That would eliminate almost all of the rapidly (2+ / 0-)
    Recommended by:
    Ellinorianne, Deep Texan

    diminishing oil drilling, occurring in the continental US. We would need to increase oil imports by about 20%, which would add a buck or two to the price of a gallon of gasoline.

    That would have very negative consequences for our fragile economic recovery and be political suicide at the same time.

    God has no religion. - Gandhi

    by OIL GUY on Mon Apr 05, 2010 at 08:22:58 AM PDT

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    •  Myt understanding is that they aren't drilling (3+ / 0-)
      Recommended by:
      Guinho, Ellinorianne, RLMiller

      where they are already allowed to drill. Rapidly diminishing oil drilling?

      What we learn from History: History repeats itself. History never repeats itself. Histories lessons are always ignored.

      by Hector Gonzalez on Mon Apr 05, 2010 at 08:34:37 AM PDT

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    •  Uh. Oils a global market (2+ / 0-)
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      marsanges, RLMiller

      Foreign oil and domestic same price

      that said the price of oil needs to increase dramatically so we can put the economy on a sound footing instead of the distorted energy markets we have now

      •  Your logic is off. (2+ / 0-)
        Recommended by:
        Ellinorianne, Deep Texan

        You are correct that oil is priced internationally. But taking 4.5 million barrels per day out of production, would dramatically raise prices across the world.

        Dramatically increasing the price of oil over the long term is a good idea. Doing so suddenly would be a huge economic drag, especially if the only people who benefited from the price increase were oil companies and wealthy speculators.

        God has no religion. - Gandhi

        by OIL GUY on Mon Apr 05, 2010 at 09:48:33 AM PDT

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