White House: Bush to lift offshore drilling ban

Can someone answer this,. If we drill more oil here at home will the oil companies sell it here or sell it on the open market for a higher price.?

If they sell it on the open market will it have the effect that we want to lower the price of oil?

Why would they want to sell it for a lower price don't they like profits?

Why would I as a share holders in these companies want a lower share prices because they lowered the price?

What is the min price per barrel of oil they will need for recovery from off shore drilling or oil shale and other sources?

What will happen if the oil cartels, those like Canada, Iraq, Iran, Kuwait etc... produce more. Will it cause the price to plummet causing us to stop drilling because of the cost benefit.

and that my friends are what we call here in the lone star state ... texas politics . see tom delay, phil gram , bush sr for details. if you dont own or cant get the water rights ? than poison the well . i should be thankful that for much of the money they have stolen from the goverment ie taxpayer ..has landed here in texas so as the rest of the country is falling into bankruptcy were getting rich @!$%# !!

Unfortunately, as long as there are hard-core partisans all we can aspire to is to see and hear is accusations back and forth. In my opinion we are eye-witnessing now the lack of prevision, greed and environmental ignorance regarding the long time effects of fossil fuel consumption(you know, nothing lasts forever here on earth). Maybe it is time to cope with our current reality, adjust our too-comfortable-easy-living style and plan ahead for a more responsible use of alternative energy sources, we all know that they are there, but let go of the well established ways to wealth is hard. Alternative fuels threatens Big Oil and therefore should not be permitted, right? I am not saying that this is easy to achieve but certainly takes an effort worth the try.

OIL IS DEAD! Why in the world do you want to increase the rate of global warming, extinguish more species, (oh , manifest destiny, only humans matter- which they won't last long when we are the only things left.) Prices don't ever usually go down they only go up. So even if you open up drilling; your prices will only stay steady.

See History of Oil on you tube for more information on why oil is dead.

In a previous comment, I mentioned that oil company donations to political campaigns extend all the way to the Northern Tier of our country, where heating oil and natural gas are used to heat houses, water and cook with.

But let me add, your states and locales, would not be too supportive of lower gas prices, if gasoline and heating oil taxes are based on a percentage rates. The nature of government means more income, more spending. Politicians love to see more government income. A few years back, while traveling, I stopped at a gas station and noticed a sign that said: "If you think gas prices are too high, call your legislators. 39 cents on every gallon of gas, goes to local, state and federal taxes." That was at a time when 39 cents was almost one-quarter the cost per gallon. A Tax-free Gasoline Day, would be a drop in the bucket to what states and the Fed collects in gasoline and fuel oil taxes. For entities that tax on a flat rate, higher prices mean income loss. But, for political entities that tax on a percentage, higher gas prices mean windfalls that politicians love for pet projects and to brag how well they are doing to balance the budget.

With all the allowances and perks our legislators have, higher gasoline prices do not hurt them, the way in hurts their constituencies. And, if their constituencies represent high income districts, they have less reason to worry about increasing fuel costs. However, our legislators see the taxes coming in. They see campaign contributions and they want to feather their nests, in case they don't get reelected. Not all, but many of our legislators owe their elections to donations that can be tracked back to corporations. Who buys a table worth of dinners at $1,000., a plate?

Your legislators are just as guilty of the jam we are in, as big oil and related corporations. Our auto industry is just as guilty. The chances for U.S. automakers to build more fuel efficient engines and vehicles, began when VW, Volvo and other foreign automakers started gaining market shares. Using plastic to lighten vehicles, only aided the petroleum industry. Even though the prices of cars have gone up, we've seen more plastic, rubber, vinyl and other petroleum by-products in cars, without many improvements in the power plants. Volkwagen, Volvo, Nissan, were all importing all-metal cars into this country that exceeded 30 mpg., in the 60's and 70's.

The demand for gas, keeps the prices high. If our auto industry had been far-sighted, more fuel-efficient, quality-made cars, would mean less demand for gasoline and would help in keeping fuel prices more competitive and slowed inflation rates. U.S. Oil Companies, which have their hands in just about every oil producing nation, have insidiously defrauded the North American public for years. Legislators and the Federal Agencies that should be working for the public have turned a blind eye to big oil's campaign contributions and under-the-table dealings.

Electricity, telephone companies and other public utilities are regulated. Perhaps fuel oil, natural gas and gasoline should come under the same scrutiny and regulations. Would our legislators have the courage to initiate Justice Department and Security Exchange Commission investigations? Not without the public demanding them. Would our legislators pass a bill to classify the petroleum industry under Public Utility Regulation? Not without the public demanding it and taking action against them at the polls, on the internet, by phone and letters. Overwhelm the government with protests and letters.

Blogging is a great way to exchange facts, ideas and share views. But, I doubt anyone in government or the newsmedia will not your comments or post them on air or in the papers.

Yes, drill, drill, drill!!!! Just like rebate checks - spend our way out of financial ruin! Conservation and alternative sources of energy are the only sensible answer. Even W admits drilling will add no new supply for years. And any decrease in oil price will be taken by the refineries, who are getting sub-par profits at present; the decrease will not be passed on the consumers! Bush's "energy policy" has always been the mantra "drill". Too bad he has never shown any leadership. One more thing: Bush I signed the ban on drilling, and warned W not to invade Iraq! Why would anyone listen to W on this after the disaster in Iraq??? He is just using the same scare tactics, lies, and half-truths to get people worked up to swallow this nonsense that he used to secure support to invade Iraq! Wise up, America!

Barbara Boxer comments:

If oil companies are not drilling on the 60+ million acres they already have access too......the why would she be worried about giving them access to ANWR and offshore locations in question? Just sound bite of information she gives....makes no sense.

The reason the oil companies are not drilling on the 60+ million acres but would actually drill in the new areas is DUE TO COST TO PULL THE OIL OUT OF THE EARTH AND THE AMOUNT OF GEOLOGICALLY PROVEN RESERVES. Thus, making it much less risky, economical and THEREFORE CHEAPER TO THE CONSUMER.

Boxer had a enough petroleum products in the caked-up make-up she had on for her interviews that she could have powered three Hummer H3's for 6 months. Talk about fake....couldn't one of her assistants said "let's just knife some of that cake off your face honey". If she has a unreported cancer or other ailment that comes out later....well then I appologize in advance.

In the 2000 Bush Energy Bill, Energy commodies were allowed to be speculated for the first time in history. When Bush invaded Iraq, one of their goals was to take Iraq's oil of the global market thus increasing the value of their (Bush's buddies) oil. Bush has gave a big tax break/rebate to companies, who bought 10mph SUV in 2000, 01, 02. He has made a push in the federal government to buy low mileage SUV. This is the reason we are paying $4.11 a gallon for gas!

The CEO of Marathon Oil and the King of Saudi Arabia even said that oil should only be aroung $60/$70 a barrel and that speculates are doubling the price. Drilling offshore and in our Federal Parks and Forests will not lower gas prices, it is just the last gift of Bush and Cheney to their Oil and Gas buddies. Jeb Bush has larger investments in Natural Gas! Currently, there is no expiration to Oil and gas leases. To the people, who say that the millions of acres that the oil and gas companies do have under lease but they are dry then have them give up those leases then. They won't because those leases aren't dry, they wan't to have all the land under their control. Let me tell you what happens to the land when a oil rig comes in. For each rig, they need to clear an acre of land (about a size of a football field) and then there are the roads that snake through to each rig. Go on to Google Earth and check out Westline, PA. That will show you what it looks like after they get done putting their wells in, all this has been done in the past few years. They are drilling like crasy in PA but yet all you hear is that there isn't no oil or natural gas. Yet, you constantly, smell natural gas leaks when you drive by gas wells.

Our government agenies sould be driving hybrid vehicles, their buildings should be eco-friendly, and should recycle. Thus are not the goals of the Bush administration because Cheney and he are oil tycoons and don't support those ideas. In fact, Cheney's own office, destroyed and suppressed the facts on Global Warming for years!

Both Bush and Cheney should be impeached! From the 2000 Energy Bill (Enron), Irag War, Domestic Spying on Americans, To the whole disaster of his administration, Katrina, Haliburton, CIA Leak, and etc., etc., etc., We can not trust anything this man wants to do!

its not adviseable to drrain our reserve of oil now.

i dont believe anything this President or Vice President say i dont trust them. no offshore drilling is what i am saying to my representives.

tapping the oil reserve will not help.

Should anyone listen to, or even care , what this fraud of a President and Vice President have to say, neither of who represents the United States or the American people. Drilling yea right...you save 1 cent in ten years. Wonder how much Pres & VP RECEIVED IN THEIR SAFETY DEPOSIT BOX FOR THAT STATEMENT.

G.W. Bush and Co. knew over a year ago that we were heading for problems with oil; Saudi Arabia started telling him no on upping the output on more than one occasion. I was surprised to hear Jr. start talking about re-newable resources and corn ethanol; caught me off guard and got me thinking... Bush and Co. are setting themselves up for new investments and controlling the market, just as they have with the Big Oil Companies. Here you have a man who has family and overly friendly ties to the oil companies. He has always stated that "green house gases" and "global warming" were non-sense and yet now, he has changed his tune! Could it be that he is done as President and his so-called worldly influence is collapsing or is there a bigger problem with shortages than we have been told of? I have seen geological studies indicating that levels are well below what is considered ok; Iran is trying to bring in nuclear power to shore up their energy supplies and several countries in the Middle Eastern Gulf Region are dredging Islands to create tourist attractions to shore up their economies.
I still say it is time to start conserving and playing things smart. It isn't hard to do and when I go to pay my bills, I have seen quite a savings in the past 6 months. It is almost like a game now on figuring out new things to do and saving money at the same time!

Iran may or may not be trying to develop a nuclear weapon , they certainly have a right to build nuclear energy plants , If they want a nuclear weapon you can thank G.W. Bush for that. When you have a fanatical leader of a nuclear country invading country's that haven't attacked the united states it makes other country's stop and believe the only way to protect themselves is to have nuclear weapons , If you want to fear a country you better worry about Pakistan, a country that supported terrorist before 911 and are currently harboring terrorist. As for drilling its a shell game wont change a thing. We had a President budget a few billions dollars in 1979 for alternate energy ideas and even put solar panels on the White House , then another president with no vision got elected a shut down the programs and took the panels off the White House, I think they used the same arguments that are being used today. Common sense and logic are lacking in the discussions of the issue we face today.

The NY Times posted an article recently about the new Khurais oil field being developed in Saudi Arabia. The Saudis are developing the oil field because of the current perceived oil shortage that the experts are blaming on rapid development in China, India, and other large countries with huge energy needs. However, they aren't developing it because there is a real need, as one Saudi official said:

With all this oil becoming available, the Aramco officials said they were baffled that the market seemed to be behaving as though there were a shortage.

"We've asked all the international oil companies that buy from us if they want more oil," Mr. Nasser said. "But we can't find customers."

When President Bush argues that we need to open offshore drilling to increase supply to bring down oil and gas, he is being disingenuous. The supply is already there.

With the lifting of this ban USA Citizens get ready to see the color of beaches changed from blue/green to black, there will be no seafood to eat, we will pick them up dead and wouldn't know what to do. This Bush's ideas show the absence of intelligence and love for his so called "America" These Mariachis see only money for their comrades and themselves and don't give it damn about anything but themselves. If we are shedding salty tears now, with McCain and Ms. Ignorant who is definitely going to be the Presidenta for McCain wouldn't last long, we will be shedding bloody tears.