Dick Durbin "We cannot Drill our way out of this crisis"?

We can drill our way out of this and according to some, have enough fossil fuel to last over the next 2ooyrs.. and bring gas prices below $1.50 by next year...

http://www.youtube.com/watch?v=NbakN7SLdbk

The Democrats have laid out their "plan" and nobody is questioning it.. How insane!! Listed first."Reducing our dependence on foreign oil" . How is what I want to know. In order to keep the economy moving ahead, some type of energy must replace foreign oil-and this energy must be tangible, readily available, and close to the market price of the energy it is replacing. I know, how about our OWN oil.... Democrats are depending on the ignorance of the American people and the sad part is, its working...

He's right and we can't. Oil is high not because of a shortage of crude but because the dollar is weak due to the trillions + dollars deficit we have and the reduced refining capacity.

Further down the road oil is not infinite and most estimates put the supply at anywhere from 20 to 50 years. Toyota for one believes its closer to 20 to 30 years.

Now is not the time to adopt the typical American "Head in the sand" mentality and wait until 2027 to come up with the usual stop gap plan that's our stock in trade.

20 years is within my lifetime. 50 years your kids.

The other thing is all those Patriotic Americans who were so hot to go to war have to pay for it now. I don't know what bone head thought we could have a war and not pay Boeing, Lockheed, Bell Helicopter and Raytheon for the toys we used.

Tax time ante-up. Lockheed wants their money.

We can drill our way out, if and only if you couple it with cutting back! With India and China consuming more and more, it has been and will continue to be a supply and demand issue, and the price being set by OPEC. The problem is that most people do not understand supply and demand economics and what the structure is of the cost of gas per gallon. Do you know that we are using more oil now than EVER before! People are driving at an alarming rate. Do you realize how much petroleum’s used in making plastics and then how many things we use are made of plastics? The oil company makes about 12 cents a gallon as profit. The rest is made up of Federal and State taxes, the cost of exploration and the cost of production, Refining and then the cost of the additives that we have to put in the gas (we call it designer gas, thanks to the environmentalist wacko's). Do you know that we have not built a refinery in almost 60 years? (thanks again environmentalist). The refineries that we have are working at capacity and that is not enough to keep up with demand. Do you know that we hardly get any oil from the Middle East? Yes we are not in Iraq for oil, they have enough to export but not as much as you think. Even iran imports most of their oil. Most people think that is where it all comes from. Not true. We get our oil form Canada, Mexico, Venezuela and Africa, in that order. What we get from Saudi is a very small %. You want the cost of gas to drop....STOP driving or at the very least cut back 10% and you'll see gas prices drop. In addition to that we need to open up the ANWR for drilling and off our coasts and the Gulf, as well as exploit the new found pools in the Wyoming Range (thanks again environmentalist) OR come up with an alternate fuel. Even if you had a viable economic alternative fuel source, the production and the distribution of it is decades away. Wake up people, cut back!

well, it may not "drill" our way out of the energy crisis alone.. but, it sure would help.. and immediately.. you combine new drilling, new refineries, increased nuclear usage, stop the government subsidizing of commodities, stop the government subsidizing of alternative fuels that can't stand on their own (it should be left to free markets and the oil companies to improve), decrease usage on the individual level, and decrease government taxation at the pump.. all these steps can bring us away from dependency on the "rapage" that is foreign oil...

and as a sidenote.. durbin and his liberal buddies wanted to "ease the pain" by refusing 750,000 barrels of crude oil to be sent to the federal reserves.. so, the "if we drilled all the oil we had on our soil it wouldn't make a difference" argument is bs.. obviously, it would make a difference.

because, that statement can NOT be challenged.

that's why you don't see or hear people challenging that remark.

All of the oil in Alaska, off our coasts, and in our national parks would Not even supply the needs of the U.S. for even 5 years.

the reality - The oil is going to run out.

Very soon (some say already) demand will exceed supply.

No matter how we drill the price will continue to go up.

If we drained our soils dry of oil, it wouldn't do anything to bring the value of the dollar up or push the prices of oil down.

It would stil be traded on wall street at the same price, where oil has exceed market factors if supply and demand for pricing a long time ago.

Now what is driving price of oil is largely anything that is percieved as a threat to supply, and a threat to the value of the dollar.

anyone challenging him would look like a fool.

Anyone who has listened to economists realize that drillling more oil isn't going to make investers quit buying oil to prevent losss of investment capital by buying it, because of the falling dollar.

That is why the price of oil is shooting up...falling dollar and huge increase in speculation on wall street = double whammy.

Dick is correct. To start drilling it would take ten years to start receiving oil from that drilling.

Drilling might not get us out of the crisis, but is sure would ease the pain.

He's right. What's needed is peace with Venezuela, price controls, or better yet nationalization o the oil companies

Everybody who knows anything knows that.

That same quote can be attributed to most economists, most oil company executives, and just about anybody who isn't clearly an idiot.