My kingdom for a so-called expert

Posted by David Roberts at 9:06 AM on 24 Jun 2008

Read more about: energy | politics | oil | oil and gas drilling | John McCain

Sam Stein goes looking for an energy expert who will endorse John McCain's contention that oil drilling will provide short-term price relief.

You can guess the rest.

For story: My kingdom for a so-called expert
7 Comments | Post a Comment

Forget ShortTerm

What gets me is that "our pundits" keep yielding the point that ANWR/OCS drilling would significantly lower our future prices of oil as well.

When thats not true either. (!!!!!!!)

To start with, the commodity price of a barrel of oil is the same, regardless of where you buy it from. So in order to reduce OUR price for a barrel of oil, we have to reduce everyone's price for a barrel of oil.
If we could pumped ALL of the oil in one year from those reserves, we'd increase global oil supplies by 2%.
The largest oil wells in the world are declining at an average -6% annually.
Global oil demand is increasing at an average +6% annually.

Acting like our chump change of an oil supply is going to make any sort of price different now, or later is wrong.

-David Ahlport

by GreyFlcn at 11:25 AM on 24 Jun 2008

Oil Drilling

Puerto Rico is potential for crude oil according to its studies and history. Inclusive, the City of Ponce, in Puerto Rico is less than 550 miles North of Venezuela's rich oil basin.

Puerto Rico even has an island called "Caja de Muertos" which is even closer and potential for off shore oil drilling.

It is time the U.S. Government see this side of the world as a strong potential site, as it is the same area where President Hugo Chavez is currently getting its oil from.

Even digging closer would still be in U.S. Territory, as it would be in the shores of South Puerto Rico, where black gold is sure to strike

Noel García Soto
Aguadilla, Puerto Rico

by Boricua at 11:27 AM on 24 Jun 2008

Time to break away then?

Maybe it's time for Puerto Rico to declare its independence?

Il faut cultiver notre jardin.

by John former Marine at 11:59 AM on 24 Jun 2008

Semper Fi, John

John Former Marine, you need to read up on your history of the Corps if you think Puerto Rico would be allowed any self-determination, especially if there is oil potential. Consult Gen. Smedley Butler, USMC, for one.

The 5% Project

by JMG at 12:05 PM on 24 Jun 2008

You mean the Smedley...

Who wrote "War is a Racket"? I'm sure that had he been as informed at the beginning of his career as he was at the end of his career, he would've opted out of participation, as have some of us today. Should the country ever really need me, I'll be here. Call me a minuteman...

I always loved that "The Halls of Montezuma" refers to an illegal war...but then Marines aren't supposed to think or speak up until they've retired...

Il faut cultiver notre jardin.

by John former Marine at 12:21 PM on 24 Jun 2008

Positive spin

I'd put a positive spin on this: "McCain's plan to drill to relieve prices has just as much support among the experts as his plan to waive the gas tax."

by Andrew Dessler at 2:13 PM on 24 Jun 2008

Puerto Rico's Self-determination

That is right, Puerto Rico will never probably be allowed self-determination. Currently, the U.S.
Government owns too many buildings, military bases, property, and all their properties and business are tax exempt; for example, in all 78 cities in Puerto Rico, you'll find many U.S. Postal Offices Buildings, U.S. Government Airlines bringing in heavy cargo and passengers, and U.S Court Buildings; all making billions of dollars each year on sales both direct and indirect, and they are all tax exempt from paying the Puerto Rican Government any taxes. If you go to the U.S. Postal Office website, you see how much money the U.S. Postal Service make on sales each year in the State of Florida-in the billions!!! There are no studies to determine how much money they make in cargo,or in the Federal Court System on the Island of Puerto Rico. I beleive it is in the billions as well. The U.S. would not grant Puerto Rico self-determination because of this,and least, if it discovers or finds that oil exist.

by Boricua at 3:46 PM on 24 Jun 2008

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