$20 Dollars on Pump #6 Please....
Road Captain
Joined: Nov 2008
Posts: 624
Likes: 1
From: Canada
Hate to tell you this, but congressmen don't drill, the oil producers do.
Like everything, people buy the cheapest first (the reason Wal-Mart & China have done so well). The U.S. has oil reserves, but it's more expensive than middle east oil reserves because of a number of factors, including the depth, difficulty & labor costs. When oil was cheap in the late 90's, U.S. production was virtually nothing. I saw wells shut down because it cost more to pump the oil out of the ground than it would sell for. Now that's reversed & rigs are out drilling new holes like crazy.
So yes, the U.S. has oil reserves & could be much more self-sufficient, but it would cost us more to do so than to buy the middle-eastern oil.
Like everything, people buy the cheapest first (the reason Wal-Mart & China have done so well). The U.S. has oil reserves, but it's more expensive than middle east oil reserves because of a number of factors, including the depth, difficulty & labor costs. When oil was cheap in the late 90's, U.S. production was virtually nothing. I saw wells shut down because it cost more to pump the oil out of the ground than it would sell for. Now that's reversed & rigs are out drilling new holes like crazy.
So yes, the U.S. has oil reserves & could be much more self-sufficient, but it would cost us more to do so than to buy the middle-eastern oil.
Road Captain
Joined: May 2006
Posts: 646
Likes: 435
From: S.I.N.Y.
3.57 for regular 87 yesterday
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Joe Kucinski
Ultimate HDF Member
Joined: Jun 2009
Posts: 6,932
Likes: 4
From: 46th State, USA
Road Master
Joined: Sep 2009
Posts: 1,157
Likes: 62
From: kingman AZ. We aren't in hell, but you can see it from here!!!
Monday was 3.11 or so for 91.Wednesday 3.28, yesterday3.45 and today 3.57!
And I'm supposed to do a 60+ mile run for the local boys and girls club tomorrow
And I'm supposed to do a 60+ mile run for the local boys and girls club tomorrow
Last edited by justanotherjim; Feb 25, 2011 at 08:25 PM. Reason: more stuff