Petition to the U.S. Congress to Expand Domestic Oil Production

[HeadLever]

If any of you are interested, here is a petition to the "U.S. Congress to act immediately to lower gasoline prices by authorizing the exploration of proven energy reserves to reduce our dependence on foreign energy sources from unstable countries."

I don't know if it will do anything, but it is better than sitting on our arses, biatching about things. There are already 191,624 signatures.

http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

 

[jsledder]

I don't see the actual petition, is there one that outlines the purpose or is it just...."We, therefore, the undersigned citizens of the United States, petition the U.S. Congress to act immediately to lower gasoline prices by authorizing the exploration of proven energy reserves to reduce our dependence on foreign energy sources from unstable countries."

We can explore all we want, but until they put up more refineries to convert the oil into gas there isn't a whole lot that can be done. Maybe start a petition to take oil off the Commodity list and out of the hands of greedy traders.

 

[justadude]

Bingo!! Why is this simple truth so hard for people to undersand.

I don't see the actual petition, is there one that outlines the purpose or is it just...."We, therefore, the undersigned citizens of the United States, petition the U.S. Congress to act immediately to lower gasoline prices by authorizing the exploration of proven energy reserves to reduce our dependence on foreign energy sources from unstable countries."

We can explore all we want, but until they put up more refineries to convert the oil into gas there isn't a whole lot that can be done. Maybe start a petition to take oil off the Commodity list and out of the hands of greedy traders.

 

[Ollie]

Bingo!! Why is this simple truth so hard for people to undersand.

So lets do nothing and hope the situation changes right.
If we do nothing else then dump more oil on the market it will drive down the cost of oil. There are refineries that are expanding their production capabilities, but we do need another dozen or so refineries.

 

[winter brew]

Even if we didn't process any of our own oil, would it not be wise to put it on the market to help with the trade deficit and maybe boost our dollar a bit? And perhaps this too would help bring down the price.

 

[HeadLever]

We can explore all we want, but until they put up more refineries to convert the oil into gas there isn't a whole lot that can be done. Maybe start a petition to take oil off the Commodity list and out of the hands of greedy traders.

In truth, most of the fuel cost increases is associated with the increase in the price of crude oil. ($10/barrel in 98 and now $130/barrel). I do agree that there is a pinch for refinery, but there are several insiders that argue the supply is tighter for the middle distillates. Getting the price of oil down should be one of the first goals.

The petition is to the right, although it appears that the link is farked.

 

[jsledder]

In truth, most of the fuel cost increases is associated with the increase in the price of crude oil. ($10/barrel in 98 and now $130/barrel).

I agree, but I don't think the price of crude is so high solely on the "supply and demand". I personally think it has more to do with it being a publicly traded commodity. Foxnews had a story and they were saying that in one days time there is more oil traded on paper than there is refined.

 

[MTdream]

I agree, but I don't think the price of crude is so high solely on the "supply and demand". I personally think it has more to do with it being a publicly traded commodity. Foxnews had a story and they were saying that in one days time there is more oil traded on paper than there is refined.

partial information usually gets people thinking a little off center...what you are referring to, is futures (puts and takes) it is true of all commodities and of all such things that are somethign someone can try and predict a future price of...wheat, gold, silver, pork bellies, cattle, oil, gas, corn, every stock on every exchange, etc. etc.

So the fact that more is traded than exists is not that shocking...it just means people are betting on the future, or against it...they are not actually trading barrels that exist in the warehouse

 

[jsledder]

I realize that.

"trading" - Paper shuffle, not actual barrels.