OBAMA SAYS "DRILLING ISNT THE ANSWER"....

[Whirlaway]

With Americans saddled with record oil prices ($5 gal gas),Obama says drilling isn't the solution!

WTF!!!!!!!!!

Drilling has slashed the price of natural gas, opened up vast reserves of domestic supply, made us a net exporter of natural gas, and produed thousands of well paying domestic jobs.

Expanded domestic exploration and drilling would do the same for oil!

http://www.therightscoop.com/newt-to...as-looks-like/

[essence]

As usual, there is a scamble for who is dumbest. Usual tricks, misquotes, silver bullets.


I see very little to argue with the original speech, and nowhere that he said drilling isn't the solution. He simply said drilling is part of the solution, which is obvious. Even oil companies would never say more drilling is the only solution.


Very confusing how the word 'gas' is used for both gas, and for petrol at the pumps. Hey y'all, gas is a gas, and petrol is not a gas. Geddit!?!?

Clearly Newt does not, he obfuscates price of petrol by talking about drilling for gas. Two different things, stupid.

Not sure where he gets his evidence that more US drilling of natural gas has alone resulted in lowering of prices for natural gas. I'm pretty sure there are other influences at work. Maybe, just maybe, he might realise that if the price of oil/natural gas goes too low, oil companies will not drill because it is not profitable? Or they will not try to maximise production?


http://youtu.be/TIrH_CPSQyY

[essence]

Oh my gosh! Maybe Newt hasn;t yet worked out how to use the internet. Or maybe he spends too much time on his baby 'drill, baby, drill'.

To get some idea of the compexities behind natural gas prices, you only have to do the obvious.

http://en.wikipedia.org/wiki/Natural_gas_prices

http://www.google.com/hostednews/ap/...85b6f422853f4b

http://money.cnn.com/2012/03/09/mark...al-gas-prices/

http://www.ft.com/cms/s/0/1199fc56-4...#axzz1opnFr8Q7


So yet again the candidates are vastly underestimating the intelligence of the American people, and preaching only to the audience of whackos.

[essence]

Reading and listening again, the basic error Newt makes is to argue by analogy - because there have been technical developments in natural gas, and because there has been successful gas exploration, and because of supply changes and economic changes, bla bla bla

then we can get the same reduction in oil price by just drilling lots more.

The analogy is completely false.

As the wiki article says, it is a feedback loop between price and drilling, and technical advances have a major impact.

[essence]

A quote from wike on oil prices - see the highlighted bit in red:

World oil production has followed a typical Hubbert curve, rising over the past century with only a few dips. The 1970 production peak in the U.S. caused many people to begin to question when the world production peak would occur. The peak of world production is known as Peak oil. By the mid-2000s, all of the world's major oil producing countries except Saudi Arabia were producing at maximum capacity (many having peaked in production), and some experts such as Matthew Simmons were questioning whether even Saudi Arabia had any reserve capacity left.
Industry observers have pointed to the similarities between the global production curve in mid-2000s and that of the United States in the 1970s.

• The oil price increases since 2003 were preceded by a decade of production cutbacks in OPEC countries in an attempt to keep prices high despite an oil glut. This is similar to production cutbacks in Texas and other states to maintain prices despite an oil glut in the decade prior to the 1973 oil crisis.
• World oil prices reached record inflation adjusted highs beginning in 2008, but new oil did not appear on the market, as the theory of supply and demand would predict. This is reminiscent of price increases in the United States in the 1970s when U.S. oil production started to decline despite record high prices and record drilling by oil companies.
• There are serious doubts about whether OPEC countries really have the oil reserves they claim. This is similar to the illusionary oil reserves that U.S. oil companies claimed to have in the decade prior to the 1973 and 1979 oil crisis. In the 1970s, those companies were unable to produce as much oil as they had predicted, and production went down instead of up.

[JD Barleycorn]

I saw Newt on TV today and he was talking about both gasoline and natural gas. So you first post on this thread is inaccurate. You are correct on your follow ups in that Newt was talking analogy. What are you missing (purposely?) is that Obama is in charge right now and he has been closing off areas in which to drill and has been so slow in issuing permits that a judge had to tell him to pick it up. So this isn't about Newt, Mitt, Rick , or Ron. This is about Obama's failure.

[LovingKayla]

Wow this must be some good stuff (you know, tea) cuz I have no idea what y'all are talking about. I hate to open my mouth and remove all doubt here, but, essence made a lot of Sense in that first post but she lost me in the second. Can't really tell you where though (great tea.)

I take it you are passionate about oil there essence.

[JD Barleycorn]

You do know that Obama is NOT a petrochemical engineer and has no idea about much of anything.

[Guest040616]

Originally Posted by JD Barleycorn

You do know that Obama is NOT a petrochemical engineer and has no idea about much of anything.

You are correct, Obama does NOT have a petrochemical engineer degree but he does have a Law Degree from Harvard University, where he graduated Magna Cum Laude. He was also the Editor of the Harvard Law Review.

On the other hand:

You do know that Reagan was NOT a petrochemical engineer and had no idea about much of anything. (But he was a B Grade actor)

Just sayin'

[I B Hankering]

Originally Posted by bigtex

You do know that Reagan was NOT a petrochemical engineer and had no idea about much of anything.

You do know that Odumbo was a community organizer and had no idea about much of anything.

[Little Stevie]

I think Newt wants to drill on the moon.

To the resident "experts" here, the domestic DEMAND for oil consumption has gone down, not up.

Speculation continues to outstrip every other demand factor affecting oil and now accounts for at least 40 cents per gallon instead of the 15-20 cents it did in 2008 when a barrel of oil reached the $150/barrel mark.

It is currently less than $110/barrel.

[Guest040616]

Originally Posted by Little Stevie

I think Newt wants to drill on the moon.

Does that mean that Newt wants to build the Moonstone Pipeline, as well?

[Little Stevie]

Originally Posted by bigtex

Does that mean that Newt wants to build the Moonstone Pipeline, as well?

LMAO! Well, I think Newt really wants to LAY PIPE.

[essence]

Originally Posted by LovingKayla

Wow this must be some good stuff (you know, tea) cuz I have no idea what y'all are talking about. I hate to open my mouth and remove all doubt here, but, essence made a lot of Sense in that first post but she lost me in the second. Can't really tell you where though (great tea.)

I take it you are passionate about oil there essence.

Er, it's a mistake which has been made before, especially when my avatar was a rose on ASPD in commemoration of the English Rugby team, but this she is actually a he.

Yes, I work in the oil business, it is hugely complex, I work in the upstream side, exploration and production, and everybody is dedicated to maximising production safely. The technology is awesome, and the people more so.

So when newt or anybody reduces it to 'drill, baby, drill', they are simply showing their ignorance.

Also, walk into any oil company office, and you will see all kinds of notices and posters about alternative energy, environmental issues, maximising recovery, and safety. The oil industry takes these things seriously, so it is kind of funny when ignorant people outside of the oil industry reduce it to 'drill baby drill'.

The team I am working with will, in their current project, will increase production by careful reservoir and drilling management many times over what 100's of the wells newt was standing behind will ever produce.

One of the big issues the oil and gas industry faces is how to attract the best of young engineers. The average age of petroleum engineers goes up by a year each year.

[essence]

BTW, it's all a lie in the first place.

http://www.politifact.com/truth-o-me...aised-stop-si/

http://www.usaprogressive.com/2012/0...-equal-to.html