Pelosi stands firm against offshore drilling!

We learned the hard way that oil and water do not mix on our coast," Pelosi told a key committee in 1996 as she made her case for keeping the ban in place before a Congress then controlled by Republicans.

And she and Senator Harry Reid of Nevada, the majority leader, appear intent on holding the line against calls to approve drilling in areas now off limits. They mount the counterargument that the oil and gas industry is not aggressively exploring large expanses it has already leased on land and offshore. They also have urged Bush to pour some fuel from national reserves into the commercial supply chain in an effort to lower prices.

He accused the speaker of using procedural maneuvers to thwart votes on expanded drilling, a position he said would prevail if the moment arrived. "Harry Reid and Nancy Pelosi are standing in the way of what the American people want," Boehner said.

So, what's new?

Wilson;

Damn, you are a slow learner. Listen carefully,,,,Driling on the offshore will not mean that out oilsupplies would increase. That oil when it comes out of the ground belongs to the oil Companies and as such they can sell it wherever and to whomever they wish. It would be years before any of it would enter the world market and who knows where and to whom, it would be sold.

The oil from Prudhoe Bay in Alaska, the majority is being sold to Japan, and does not enter the American market. Something the majority of Americans have no knowledge.

Riley 2:

Wilson;

Damn, you are a slow learner. Listen carefully,,,,Driling on the offshore will not mean that out oilsupplies would increase. That oil when it comes out of the ground belongs to the oil Companies and as such they can sell it wherever and to whomever they wish. It would be years before any of it would enter the world market and who knows where and to whom, it would be sold.

The oil from Prudhoe Bay in Alaska, the majority is being sold to Japan, and does not enter the American market. Something the majority of Americans have no knowledge.

Riley, you are a real ignorant shit. I watched another poster point out to you this same thing.

Yes, drilling means oil supplies worldwide are increased. Where the oil is ultimately marketed is a different story, but oil inventories will increase without any question.

You show your ignorance of the "American Market". The oil originated in the American Market, generating revenues no matter what country it was used in. It was sold in dollars that stayed in America or credited against trade debits from Japan.

Then we turn around and buy oil from Venezuela, Canada or Saudi Arabia, but the oil out of Prudhoe Bay in Alaska doesn't evaporate, it's used in the world market. It most certainly is an American market product and counts as such in the entire world.

What do they have to do? Certify delivery of gasoline to your neighborhood station to see the benefits of that drilling?

Idiot!

Riley 2:

Something the majority of Americans have no knowledge.

I consider you among the majority of Americans. In this case maybe even a leader.

Was he wrong when :

" Bush's own Department of Energy concluded in 2004 that the long-term impact of lifting the moratorium on offshore drilling on oil prices would be "insignificant."

<link>

A study conducted in 2007 by the Department of Energy's Energy Information Administration scoffs at Bush’s claim that offshore drilling will reduce oil prices any time soon, or ever.

larbabe:

Was he wrong when :

" Bush's own Department of Energy concluded in 2004 that the long-term impact of lifting the moratorium on offshore drilling on oil prices would be "insignificant."

<link>

A study conducted in 2007 by the Department of Energy's Energy Information Administration scoffs at Bush’s claim that offshore drilling will reduce oil prices any time soon, or ever.

Let's discuss the real benefits. The world market price of oil will only be slightly affected with production increased in the USA. The main benefit is where the money goes. Instead of spending $140 per bbl for importing as much as 15 Million barrels per day or reducing cash sent overseas for this product by $2 BILLION DOLLARS per day. Even is we traded it all to Japan, the dollar benefit will still come home. The only hope for reducing the cost of gasoline is that supply finally becomes so substantial and demand reduced so significantly that there is more oil than they can store. The financial benefits are still there regardless.

Who is being scoffed at is Nancy Pelosi, even by members of her own party who see this real need to drill domestically and urgently.