Tyson Slocum is director of Public Citizen's Energy Program. He said today: ';Contrary to what Bush is claiming, the Department of Energy determined that an increase of offshore drilling would have an insignificant impact on oil supply and prices. These profits at Exxon Mobil and other big oil companies are not being re-invested into things that would end our oil addiction; they are being used to finance things like stock buy-backs. We need to stop subsidizing big oil so we can invest in clean energy.';
Candida Scott, an oil industry researcher at Cambridge Research Associates, said oil needs to be priced at $60 a barrel or more to justify deep-shelf drilling.
5 hours ago
Candida Scott, an oil industry researcher at With oil now selling for $134 a barrel, companies are almost assured of profiting from offshore drilling, Scott said.
Tyson Slocum is director of Public Citizen's Energy Program. He said today: ';Contrary to what Bush is claiming, the Department of Energy determined that an increase of offshore drilling would have an insignificant impact on oil supply and prices. These profits at Exxon Mobil and other big oil companies are not being re-invested into things that would end our oil addiction; they are being used to finance things like stock buy-backs. We need to stop subsidizing big oil so we can invest in clean energy.';
Public Citizen has just released a statement ';Loophole Spared Oil Companies Billions in Royalty Payments to American Taxpayers,'; which begins: ';A bureaucratic oversight has allowed 24 oil companies to skip out on more than $1.3 billion in royalties.';Who Would Benefit More from Lifting the Ban on Offshore Oil Drilling- Consumers OR Profiting Oil Companies?
I think it is a political ploy. It accomplishes two things-
1. gives republicans a window to do what they have wanted to do all along but couldn't pass the legislation for.
2. creates an artificial rift between republicans and democrats to help get McCain elected based on the faulty idea that our gas prices are going to suddenly decrease because of it.Who Would Benefit More from Lifting the Ban on Offshore Oil Drilling- Consumers OR Profiting Oil Companies?
How about the economy, period. Billions of dollars wouldn't go overseas, not to mention hundreds of thousands of new jobs for Americans.
Read this:
http://www.warriorsfortruth.com/alaska-o…
They're making so much money now. Do you think they'll ever let it go back to the way it was? That's why we have to take the power away from them by finding ways to provide alternative energy.
Options = Freedom
Some estimates placed the value of the global trade in illegal drugs at around US$400 billion in the year 2000; Let's get these guys before we worry about exxon mobile who are doing it legally.
Consumers would win all the way. Would you prefer Exxon do their drilling overseas and we buy from OPEC. We need to become self sufficient.
everyone would benefit from drilling, to all the people against drilling, what is the downside? drilling for more oil cannot make things worse. everyone wins with more oil
The oil corporations would benefit highly and alot more than the American people. The American people wouldn't benefit at all because just because the oil is in our country doesn't mean Americans are going to see it. It actually goes on the world market to be bid on and right now the country who is in the position to make the highest bid is China.
It's a psychological game, just lifting the ban then speculators dropped oil futures %26amp; OPEC wasn't too happy, now if we actually drill the speculators will speculate lower prices %26amp; OPEC would prob just lower it themselves as they want us dependent on their oil. I hope we do drill %26amp; come up with alternatives %26amp; OPEC has to pour it out on the ground to get rid of it.
Yes I know it would take many years to see an actual benifit in production we had this same argument 10yrs ago %26amp; where did it get us. If we had done this 10yrs ago we wouldn't even be having a debate about. Same as 10yrs ago, we can not depend on oil alone %26amp; have to work dligintly to find alternative sources of fuel %26amp; power.
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