Would you be willing to dramatically boost U.S. oil and gas production to help the world stop importing from Russia?

[jaypatriot]

Respect then
I stand corrected
You also judged me incorrectly BTW

If I misjudged you, then I was wrong.
I tried to go back through the thread and could not find an example of my bad judgment. The back-and-forth conversation lost its meaning to me.

 

[cpwill]

I'm not talking about everything, and if the oil companies were American companies and had America's interests at heart I wouldn't be saying things like that but they aren't and they don't.

I don't think it matters if they have "America's" interests at heart - we don't require them to. Nor does a government bureaucracy have "America's" interests at heart - at most it has the bureaucracy's interests at heart, and, generally, it actually only has the individual motivations of the functionaries in it at heart. The beauty of a free means of economic exchange is that it requires economic actors to have their customers interests at heart, or they cease to exist.

Also, I've read that and other things similar and the one thing they always overlook is the form of the government involved.

Respectfully, it is difficult to reconcile the two bolded statements, given that the entire thrust of the book is about the form of government involved and the economic and social drivers of that government.

Literally the Blurb:

Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it).... economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories.​

I flatly maintain the the nation's natural resources shouldn't used for the profit of a few, particularly when the few aren't even all Americans.

that was the argument put forth in Venezuela, too, as I recall.

 

[Gateman_Wen]

we don't require them to.

We should.

 

[cpwill]

We should.

I think I maybe should have elucidated more clearly - we don't need them to have some kind of amorphous "American interests" at the top of their value ladder (and, good luck defining "American interests clearly enough for corporate direction: we have three layers of three branches of government with hundreds of years of debate behind them, and even they can't figure it out*). The beauty of free market exchange is that, outside issues of the public square (such as pollution), they have no choice but to serve the interests of the people (which is what "customers" are,). If they don't, they die



* For a simple outlining of this problem, imagine if U.S. industry were put in the hands of someone who vehemently disagreed with you on virtually every domestic policy issue.

 

[coyote505]

Now you know even more.
You're welcome.

The Salton Sea in Southern California has now been recognized as the Saudi Arabia of lithium production.



Estimates range as high as three to six million metric tons of lithium, with an annual yield of around 600,000 tons a year, which is several times more than projected global demand.
Truly, you might say that California has a new "gold rush" on their hands.
And to hear them talking, it sounds like a "Space Race" campaign to get that lithium into the hands of battery manufacturers as early as next year.

Congrats Californios! Just don't let the Greenies screw it up, like they did the last time you had a rare earths mine.

 

[vegas giants]

This is a follow-up to @Cardinal 's other thread about whether or not we should be willing to accept higher prices in order to cut off Russia.

Yes and it wont affect anything for over a year

 

[rickc]

Well I think $130 a barrel oil will do more to get the oil companies here in America opening up the taps than any legislation.

Giants such as Exxon and Chevron and fracking firms such as Diamondback Energy have shut in wells and slashed investment in recent weeks, helping drive down US crude oil production by nearly one million barrels per day from March to April - the third largest monthly decline in a century.
Mr Bloxsom cut his typical output of 800 barrels per day by more than half. Others have gone even further.
"Right now everything I have is shut down. Everything," says Bill D Graham, president of Midland, Texas-based Incline Energy, which has 80 wells that in more typical times would about 275 barrels per day.

 

[Jason Warfield]

For me, this is one of those moments int time where circumstance meets need and enables compromise.

While I believe that if we we’re already unde way with renewable forms of energy starting almost thirty years ago, this wouldn’t be an issue. But that is not the case.

In this moment, it would even beneficial to increase production to stabilize economies for the immediate problem. For those of us who wish to wean ourselves from the tyranny of oil…there is a reality here that cannot be ignored.

So, in light of that, production should increase as a short term solution since it would help set up the stage after this is over and we continue the large to better sources of energy. Because there is a lesson here…

If things are this disastrous in terms of economies suffering from oil production…why should we continue to let it be the source of energy that everyone goes to?

Further, at some point (probably in the nest two or tree generations), consumption of oil will surpass supply…and then what?

If a war will do this to us, what will happen when it runs out?

 

[bluesmoke]

Hmm… didn’t congress just pass a large “infrastructure” spending bill?

Why spend money on infrastructure for the oil industry that they can do themselves? When the oil industry has no plans for such increased oil production that would require such infrastructure? The bill did include $4B to cleanup abandoned oil wells that should be done by the oil industry. Go away.

 

[Antiwar]

"I'd be willing to destroy what's left of the environment and start World War Three to stop Putin!"

 

[KingLeo]

US oil and gas production already at high levels. More than 3,000 permits for federal land sitting unused.
Even at over $100/barrel oil industry says it is 'to expensive' to increase drilling and production.
Russian oil imports to the US at about 6% to 8% of total. Recent price increasing in gas have little to nothing to do with Russian oil.