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| Arabia |
| OPEC keeps output ceiling unchanged |
| 2008-02-02 |
| Posted by:Seafarious |
| #6 We have plenty of oil nearby, we just won't drill for it. On the face that appears dumb, but in truth it's very smart, tap them only when the others run low, and then WE control the market, not the Mideast. |
| Posted by: Redneck Jim 2008-02-02 13:39 |
| #5 We have plenty of oil nearby, we just won't drill for it. ANWR. The outer continental shelf. Colorado oil shale. I won't believe we have a real energy crisis until we start doing the smart things at home to find more oil. |
| Posted by: Steve White 2008-02-02 12:28 |
| #4 We'll keep relying on foreign oil until it either runs out or gets expensive enough for long enough to develop alternatives - if such even CAN be developed. One overwhelming reason oil is not MORE expensive than it is right now is that these prices are enough to cause massive development of Alberta 'tar' sand mines over the past few years (an effort with some rather unpleasant environmental consequences, alas.) We could cut way back on consumption (economic depression), and tax-subsidize more costly alternatives (solar), and suffer more environmental damage (coal), but any gains made would be more than offset by the weakened competitive position with China and others who would not make such moves. (China seems to be more likely to take foreign oil by force than cut back its dependence.) Anguper, I suspect you are correct - many of the big Arab fields are old and have been at least marginally mismanaged for a long time, and are no longer capable of sustaining big production increases at the turn of a valve. |
| Posted by: Glenmore 2008-02-02 11:26 |
| #3 that's ok. It helps spur our nation to develop its own energy resources and to stop relying on foreign oil. |
| Posted by: Elminetle Panda5853 2008-02-02 10:41 |
| #2 ^^^^^^^^^^^^That |
| Posted by: Chang Smith8113 2008-02-02 07:52 |
| #1 I doubt OPEC could raise its ceiling even if it wanted to. |
| Posted by: Anguper Hupomosing9418 2008-02-02 01:17 |