Would This lower gas prices ?Myrick Introduces Legislation

Myrick Introduces Legislation Aimed at Reducing High Gas Prices
Rep. Myrick has introduced legislation that would end the moratorium on drilling off American coasts and would allow States to drill for oil and natural gas if they so choose. In short, this bill would increase American petroleum and natural gas supplies to help with high gas prices as well as reduce our dependence on foreign oil. “Some may say my legislation is controversial. So be it. I think it is controversial for our government to do nothing while our economy grinds to halt in large part due to the high price of gas," said Rep. Myrick.

http://www.house.gov/list/press/nc09_myrick/gaspricesmay292008.html

 

In the long run, this may help a little but it's not going to provide the instant relief that everyone is looking for. That is, if the Bill even makes it through, which I doubt.

If we start drilling news sites in the U.S. for new oil, most people don't realize it could take YEARS for them to actually start producing. Well, that's how it was explained to me at least.....

 

no because greed is source of rising gas prices. drilling at home does not take away greed.

 

If drilling our own would actually increase supply enough to reduce prices I'm all for it. They can drill in my kitchen if it gets prices back down below $3.

 

It will take some time to even effect prices 'if it would' not only do they need to get the oil, they have to make back the cost for the drilling setup.

It also creates the possibility of us being weaker in the future should we need oil and can not get it from over seas.

Talk about a talking point band aid, sounds good but that's about it.

 

Greed has nothing to do with the current price of oil. The new rising demand from India and China, plus the declining value of the dollar, is affecting the price of oil. The oil companies are not behind this. Oil is priced on the commodities markets. The highest bidder gets the oil.

The fact that it will take some time to produce enough domestic supply is not a legitimate reason to avoid drilling. If we don't start now, we will never be able to produce enough. I'd rather plan to reduce the problem in the future than not have a plan at all.

 

Would the common person that had oil in their backyards;

put there on well in their back yards reduce the price of fuel.

 

http://www.javno.com/en/world/clanak.php?id=150455

 

You honestly think there is enough domestically for us to sustain ourselves for any length of time?

I myself am looking at the future, not putting a band aide on the situation while using the little oil reserves we do have up..

 

You call that high prices?

c'mon guys, here in Kosovo we have 1.30 euro/liter [$8/gallon], and the average salary is around the 250 euro/month [$390] mark.

you guys are lucky

 

You have cars that get better fuel economy, you do not drive nearly as far, nor do you spend BILLIONS upon BILLIONS in other forms to secure oil.

The price per gallon is only part of the equation, we in the US do pay in other ways above and beyond that.

 

Yeah I don't have any hard data but I think generally things are more spread out here in the US unless you're in a big congested city like NYC. You have to drive alot. The good thing about it is alot of the SUV gas hogs are flooding the used car market. Can't say I feel sorry for any of the monkey see monkey do dumbasses who bought one in the past few years.

 

So gas price is not the actual problem for you then.

Instead, you should focus on:
more efficient cars [get rid of the big trucks, they look ugly],
walk more and drive less, and
stop fighting for oil.

 

As mentioned above drilling now would not turn up gas for years to come.

I believe the debate about drilling should be revisited to reweigh the reasons to do so and the arguments against it.

The costs for gas in Europe are far higher. Yet European economies have dealt with higher prices for years. Shorter distances within nations and far more dependance on trains somewhat mitigates the overall problems. Additionally the weak dollar has contributed to greater levels of increases inthe states. Not to diminish the impact of rising fuel costs around the world, though. The rising prices have hit at all economies around the world and are contributing to a massive movement of wealth from oil importing nations to oil exporting nations. Additionally nations around the world are getting hit by significant increases in inflation from oil price increases and other commodity price increases.

The recent surges in gas prices are having a significant impact on the American economy and leading to significant problems, industry problems and job losses.


I'd also look at the commodities markets. The markets create a secondary market of demand and supply. I've worked in markets for decades.

At times structures such as commodity markets, futures markets etc. can be manipulated and moved in directions that have dramatically harmful impacts.

 

I know. We should be really pissed that 5 and 10 years ago they said no to drilling in ANWR. We'd have the benefit by now. But, the same tired old point is brought out each time. And then when prices go higher, "oh we won't see benefits for years."

 

If we drilled off our coast like China is drilling off Florida and the average person would drill oil the price would fall. If we pushed all auto's to be hybrid and get closer to 100 mpg and have all electic autos then the price would fall down to below $2.00.

We do not need to use corn to produce fuel which drives the price of food up.

If gas prices would fall to 1.50 to 2.00 then the economy would recover.

 

One we haven't done a study of our oil reserves on federal land since the 70s what we estimate could be greatly increase when surveyed using the current technology.

Two, we don't have to drill oil to sustain ourself, even if we bring a million or two million barrels of oil a day, which could be done alone from anwar that would increase global supply by at least million barrels a day which would lead to prices failing. One of my reasons for increasing oil is the shrinking global gap of how much oil is produced and how much oil is consumed, the gap is shrinking.

 

Is gas did fall to 1.50 to 2 a gallon what's would stop people from rushing out and Buying SUV that get at best 16 mpg?

 

How long will that 1 or 2 million barrels a day last? What if it comes to the point we need the oil here as we can not get it elsewhere but we already used the little we had?

 

Heres an idea. How about we withdraw our troops starting with iraq and use that money and start blitzing research into improving the efficiency and cost of electric and hybrid vehicles and stop depending on opec for our fuel.