4 Comments Add your own

• 1. Mike Carroll  |  August 2nd, 2008 at 10:30 am

  “The sharp decline in miles driven and even sharper turn away from low mileage vehicles shows that gas is not a product untouched by pricing. $4 gas turned out to be enough to make Americans simply park it. ”
  A liberal who acknowledges the law of supply and demand. Will wonders never cease.
  As for the rest of his argument, no Republican is claiming that drilling is the only answer. Its part of the answer in the long term and its the only answer in the short term.

• 2. Q Jordon  |  August 2nd, 2008 at 12:08 pm

  Strange Mike, but I would venture to say there are many liberals that know about supply and demand, unless all millionaires and billionaires are conservatives.

  But once again, the Republicans are asking for the “big drill” again, which they did in the 70s. Where did that get us - HERE.

  As far as the short term, it takes a little more time then most think when it comes to drilling for new deposits.

  The question I have is why are not oil companies uncapping the sites they have already drilled at in the past?

  The oil companies have over 70 million acres of leases for oil drilling, but they have not even attempted to drill. What do they want to whine about? Having access to off-shore drilling and ANWR. Why?

  If I were President, I would not allow the oil companies to drill off shore. I would demand them to start with the leases they have at the moment, and I would investigate why so many rigs are capped and cemented over.

  I noticed the G.W. waited until his obstructionist brother left the governorship of Florida before he started to push for off shore drilling.

  I remember when Gov. Jeb Bush and all of those Republican cronies in Florida could not trip over themselves fast enough to say “NAY” to off shore drilling.

  T. Boone Pickens is correct. We cannot drill our way out of it. PERIOD.

• 3. Mike Carroll  |  August 2nd, 2008 at 12:26 pm

  Q-No one is saying that we can drill our way out of it. Read what I said. BTW Q-the federal government gets the lease rights back if the oil companies don’t develop them even though the oil companies paid for the leases. Why would they not develop them? This may be difficult but stay with me.
  1. There are no or few recoverable deposits in a particular lease.
  2. There are deposits but it is not economically feasible to recover them. There is a wealth of iron ore sitting in abandoned mines in the UP. Why? It costs more than the value of the ore to recover.

• 4. Craig Knauss  |  August 2nd, 2008 at 11:48 pm

  We have literally thousands of capped wells in the U.S. and the price of oil has gone up four-fold in the last seven years. And probably ten-fold since those thousands of wells have been capped. It may not have been economically feasible to pump from them when they were drilled, but it is now. So why isn’t it being done? We don’t need to look for new oil deposits when we have not even come close to depleting the old ones.

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