if you're honestly interested in learning about why oil prices have dropped so much, start here: The Economist explains: Why the oil price is falling | The Economist
reading about the complexities of the oil market isn't as fun as repeating everything fox news says, but at least you might learn something.
"Four things are now affecting the picture. Demand is low because of weak economic activity, increased efficiency, and a growing switch away from oil to other fuels. Second, turmoil in Iraq and Libya—two big oil producers with nearly 4m barrels a day combined—has not affected their output. The market is more sanguine about geopolitical risk. Thirdly, America has become the world’s largest oil producer. Though it does not export crude oil, it now imports much less, creating a lot of spare supply. Finally, the Saudis and their Gulf allies have decided not to sacrifice their own market share to restore the price. They could curb production sharply, but the main benefits would go to countries they detest such as Iran and Russia. Saudi Arabia can tolerate lower oil prices quite easily. It has $900 billion in reserves. Its own oil costs very little (around $5-6 per barrel) to get out of the ground."
They will simply change tactics. They will concentrate, even more, on AGW scare tactics, tighter EPA regulations and fossil fuel (carbon?) taxation. Facts can never be allowed to derail an ideology.
They already have, they view low gas prices as a reason to up the tax on gas.
The US does export crude oil and other derived products.
U.S. Exports of Crude Oil (Thousand Barrels per Day)
U.S. Exports of Crude Oil and Petroleum Products
It's called supply and demand, get it now DNC? Get it now Obama?
Be sure to watch the video, it's hilarious.
Back when gas topped $4 a gallon, Republicans chanted "drill, baby, drill" at rallies across the country -- arguing more domestic drilling would increase supplies, reduce dependence on foreign oil and boost the U.S. economy.
Democrats, almost universally, mocked the GOP plan. In 2012, President Obama called it "a slogan, a gimmick, and a bumper sticker ... not a strategy."
"They were waving their three-point plans for $2-a-gallon gas," Obama told a laughing audience during an energy speech in Washington. "You remember that? Drill, baby, drill. We were going through all that. And none of it was really going to do anything to solve the problem."
"'Drill, baby, drill' won't lower gas prices today or tomorrow," Rep. Janice Hahn, D-Calif., echoed on the floor of Congress in 2012. "But it will fuel our addiction to fossil fuel."
Dems change tune after mocking GOP for
That's sort of the point. When prices were high, liberals mocked the idea of doing what you just said.The reason we have so much oil on the market is because the ppb was so high for so long... When the price per barrel is high companies will invest in exploration, new rigs and drilling. If the price stays low the US and Canada will cut production.. They can't operate at a loss.
if you're honestly interested in learning about why oil prices have dropped so much, start here: The Economist explains: Why the oil price is falling | The Economist
reading about the complexities of the oil market isn't as fun as repeating everything fox news says, but at least you might learn something.
"Four things are now affecting the picture. Demand is low because of weak economic activity, increased efficiency, and a growing switch away from oil to other fuels. Second, turmoil in Iraq and Libya—two big oil producers with nearly 4m barrels a day combined—has not affected their output. The market is more sanguine about geopolitical risk. Thirdly, America has become the world’s largest oil producer. Though it does not export crude oil, it now imports much less, creating a lot of spare supply. Finally, the Saudis and their Gulf allies have decided not to sacrifice their own market share to restore the price. They could curb production sharply, but the main benefits would go to countries they detest such as Iran and Russia. Saudi Arabia can tolerate lower oil prices quite easily. It has $900 billion in reserves. Its own oil costs very little (around $5-6 per barrel) to get out of the ground."
They already have, they view low gas prices as a reason to up the tax on gas.
And when gas prices go back up the taxes will still be there.
The US does export crude oil and other derived products.
U.S. Exports of Crude Oil (Thousand Barrels per Day)
U.S. Exports of Crude Oil and Petroleum Products
The reason we have so much oil on the market is because the ppb was so high for so long... When the price per barrel is high companies will invest in exploration, new rigs and drilling. If the price stays low the US and Canada will cut production.. They can't operate at a loss.
That's sort of the point. When prices were high, liberals mocked the idea of doing what you just said.
Yes. But what is being discussed here was the foolishness of those politicians who denounced the idea of increasing US oil production. They were wrong then, have been proven wrong now, and it is silly to defend their position.Well, drilling for oil is not a political decision at all... its a business decision.
That is what OPEC hopes and prays to Allah for but they may be in for a surprise. Even if shale oil shuts down for a while the infrastructure is there and they can start up again as oil prices rise. OPEC is out of the drivers seat, Drill baby drill.
Yes. But what is being discussed here was the foolishness of those politicians who denounced the idea of increasing US oil production. They were wrong then, have been proven wrong now, and it is silly to defend their position.
They already have, they view low gas prices as a reason to up the tax on gas.
This thread is about how foolish liberals look having mocked 'drill, baby drill.'Most politicians are pretty foolish and generally shoot off their mouths in ignorance.. For the Dems to mock "drill baby drill" is just about as stupid as blaming Obama for high prices at the pump.
And when gas prices go back up the taxes will still be there.
And when gas prices go back up the taxes will still be there.
OPEC will be fine.. and their target is not the US shale producers, its Russia and Iran and ISIS.
It's called supply and demand, get it now DNC? Get it now Obama?
Be sure to watch the video, it's hilarious.
Back when gas topped $4 a gallon, Republicans chanted "drill, baby, drill" at rallies across the country -- arguing more domestic drilling would increase supplies, reduce dependence on foreign oil and boost the U.S. economy.
Democrats, almost universally, mocked the GOP plan. In 2012, President Obama called it "a slogan, a gimmick, and a bumper sticker ... not a strategy."
"They were waving their three-point plans for $2-a-gallon gas," Obama told a laughing audience during an energy speech in Washington. "You remember that? Drill, baby, drill. We were going through all that. And none of it was really going to do anything to solve the problem."
"'Drill, baby, drill' won't lower gas prices today or tomorrow," Rep. Janice Hahn, D-Calif., echoed on the floor of Congress in 2012. "But it will fuel our addiction to fossil fuel."
Dems change tune after mocking GOP for
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