Dude, we've done this many times. Go to wiki look up the available US strategic oil reserves, ANWR, anything you want except maybe the optimistic estimates about tar sands and shale oil that have not been proven out to be productive yet.

Now assume we're running full production on all of those right now. It adds something like 1 to 3% to the world supply. That's not enough to even make a dent in the global price of oil. And if we had been running full production on all of those, we have a lot less oil reserved right now.

The industry is useful, no doubt important to the economies of the area, however, I'm talking about de-regulation and the ever-increasing campaign for it. You'd think after the Gulf of Mexico disaster (still pumping oil into the gulf by the way) people would have learned the corporations need to be kept in check by the only thing we have a slight control over-the government.

It's not necessarily that they are 'evil', it's just that market pressures as well as some distasteful business heads interested in making as much money quickly with little regard to the consequences or sustainability creates an environment that can be dangerous for the rest of us (the same can be said about most big industries that the governments have invested into, like Wall Street or pharmaceuticals). Hence the need of strong laws that ensure safety, the economy and the environment are protected while they do what they do.

Sorry Suzzer, I didn't realize you had more info at your disposal that experts in the field of oil recovery. Are you also disputing the estimates or use of tar sands & shale oil, even thou they are recovering said oil in Canada (shale oil that is)?

freeeeeeeeee jiggzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Oh my god I'd literally forgotten about jiggs.

You are too cynical. I'm sure Ikes is just about to post that Gallup's official release shows that their 7-day average went from 49-46 yesterday to 50-45 today, a 2 point Obama gain. And presidential approval went from 48-46 to 51-44, A 5 point Obama gain.

People on the left were predicting a post-debate bump for Romney ITT? Rly?

love the latest Obama release about Romney's foreign affairs speech, 'Never has an American offended more Europeans since Chevy Chase'

LOL!

This happens when a mod deletes a post at the top of the page (or maybe it's the bottom) and this is the cure.

You realise that tar and shale is only worth exploiting now because the price of oil is so high, right?

Well, obv you dont, but it is true.

Basically America could instantly extract all available reserves at the current cost of extraction right now and the price of oil would barely drop if at all. There hasnt been new major discoveries in this oil or how to exploit it, its always been sat there waiting for the cost of oil to hit a threshold to make it profitable to exploit it.

I did, I wasnt alone. Give me a sec to search and i can probably find a post or two on it.

edit,
That was from the 27th of sept. Im sure I have said similar earlier.

If this is true...please explain why it is more affordable for Canada to extract the same oil (tar) and still show a profit? I mean they are even willing to envest a few billion on building a pipeline from the profits in order to bring it to market?

A lot of Canada's oil sands are profitable at around 40 dollars a barrel iirc.

It isnt exactly the same, Canda's oil sands are unique. But the price of oil being high is a big part of why people are now looking at this unconventional method over just drilling which is significantly easier and cheaper.

Some sands are easier to exploit than others and because of this the extractable reserves are unprofitable at a certain point. For example googling around I can tell you at the 2006 prices of oil 10% of Athabasca oil sands in northern Alberta were profitable to exploit and recover. This is still a metric uber ****ton of oil, but if the price were to decrease in oil for some magical reason that profitability of exploitation drops. That 10% however represents the second largest proven reserve of oil, but it is also a unique site as I say which makes it much easier to recover the oil than other areas like in the US (for reasons you probably need a geological degree in to be completely accurate).

Basically, long story short, just because oil is there doesnt mean it can be recovered profitably.

gallup has barack up 5 today in just released number. they issued a release earlier this morning showing it tied. msnbc just did a whole segment using that tied number. the crux of the story is mitt up maybe slightly nationally but its a state by state race...ur liberal media at work. btw in order for obama to be up by 5 he must have polled like 56-42 on sunday. picked up 2 in raz.

this is real mod verified anatta anatta has this account when he has to post but self banned hope that not against rules but anyways anatta 100% off with his debate prediction heh thought mitt would choke not other way around no way. but bounce over imo 7.8 seems to stem the bleeding.

Not in history, just currently in inventory.

Even that is misleading. The accident rates of the F-22 are well below F-16's and F-18's in their first ten years. Those planes have accumulated 30 years of operation experience to drive those rates down, not really a fair comparison.

It's pretty standard for the cutting edge plane to not see direct combat for the first few years of its service. 7? years is kind of long but that has a lot more to do with the lack of opponents for the F-22 (we haven't fought an Air Force that F-15 and F-16s couldn't easily achieve air superiority over.)

Basically the problem with the F-22 isn't that it's a bad plane. The problem is it's too good and unnecessary. Its development began before the collapse of the Soviet Union and it was developed to match 5th gen air superiority fighters expected from the Soviet Union. Keep in mind the US suffered casualties in the Korean War vs. Soviet planes and pilots. At that point in time the US had no reason to believe F-22 would end up useless due to lack of opponents to achieve air superiority over. This might change when Chinese J-20 and Russian PAK-FA (both bearing more than a passing resemblance to F-22s)

The F-22 has become more or less a transition platform(F-35s too, . The Air Force is only ordering enough of it to replace retiring F-15 frames. They are upgrading existing F-15s and F-16s as long as the frames aren't too old. Both the air force and navy have already requested information for 6th generation fighters. Chances are, the US military is going to pretty much skip the 5th gen (other than some F-22s and F-35s to replace F-15/16/18s too old to upgrade) that was designed to compete with 5th gen Soviet fighters that, for obvious reasons, never materialized.

I'm a little confused on the Gallup +5 story. This seems to be the latest Gallup release showing Obama +5 pre-debate and even post debate.

http://www.gallup.com/poll/157907/ro...ebate-win.aspx


If I am missing something please let me post.

SHOCK POLL: Obama +30 in Massachusetts

They're recovering tar sands, not shale oil. The shale oil under the Colorado Plateau is mostly what I was talking about.

And no, I'm not an expert. But I know how to use wiki and use basic math. I will lay it all out again, but you have to promise you'll actually pay attention and try to offer some kind of substantive, non-talking point rebuttal.

Here's a hint though: no serious economist thinks the US could affect the global price of oil by increasing production. It's just another nonsense republican talking point that plays well emotionally to the base.

rara, barring the miraculous invention of some as yet undreamed technology, oil prices are going to continue to rise for the rest of your life. You need to accept and deal with this fact.

I think they're referring to this.

http://www.gallup.com/poll/150743/Obama-Romney.aspx

not to mention the fact a lot of the shale is really nat gas rich/with smaller amounts of oil and isn't worth extracting at current prices of nat gas. and this is in areas they have already figured out how to frack like the eagle ford. afaik they haven't even figured out how to extract from the utica at an economically viable price. it's not like there are billions of barrels of low hanging fruit that we aren't extracting because obama or regulationzzzzzz.

Keystone though. Free oil for all. Which is why gas is so cheap in Alaska. Oh wait... http://www.alaskagasprices.com/