You forget that supply and demand are not totally free in the oil markets. Even if we discovered a huge new oil field in the US it would not necessarily affect world oil prices, as OPEC would just close the taps a bit and drive prices right back up.

The US has only a tiny percentage of the world’s undeveloped oil reserves. Even if Bachmann went all out and ordered the systematic raping of the American natural resources, the amount of additional oil that would come onto the market would be insignificant compared to total demand. During the oil crisis of a couple of years ago Saudi Arabia became alarmed at the uncontrollable rise in oil prices and convinced OPEC to ramp up production to maximum capacity, increasing world supply by upwards of 5% (the US would never be able to increase suppply anywhere close to this). The effect? Oil prices shot UP sharply, a completely unintended effect and clearly indicating that the forces controlling oil prices were not solely supply-driven, but rather also strongly driven by speculators and profiteers. Recent studies have also noted that even massive increases in the production of the Alberta Tar Sands (representing a large chunk of North American capacity) would likewise have no appreciable effect on global oil supply.

So next time you’re sitting in your Tea Party Debunker’s throne why don’t you read up before criticizing others and making a fool of yourself.

Between $2 gas and her remarks about us fearing the Soviets she has demonstrated that she is totally unfit to become President.

I didn’t know how to use the blog!!!

Thanks
Tim

If we convert our (world) transportation system to an electrified transportation system, we can drive the price of gasoline well below $2.00/gallon. Oil then would only be used for non-transportation uses.

In the process, we would create unknown high paying sticky jobs, transforming our carbon society to an electron society and the middle class and below would be the winners (as we reduce their energy costs and create, high paying life sustaining jobs. And this could be accomplished by wrestling away the power of the Oligopolies that dominate our economic system. And in the end they too would prosper because the consuming class would have money to spend.

Retrofitting our current stock of autos and homes to electrons, with the new technologies that are now available is the answer to the funk and fear we are in.

Balance and sustainability are the key.

Thank you for listening to my thoughts!

If we convert our (world) transportation system to an electrified transportation system, we can drive the price of gasoline well below $2.00/gallon. Oil then would only be used for non-transportation uses.

In the process, we would create unknown high paying sticky jobs, transforming our carbon society to an electron society and the middle class and below would be the winners (as we reduce their energy costs and create, high paying life sustaining jobs. And this could be accomplished by wrestling away the power of the Oligopolies that dominate our economic system. And in the end they too would prosper because the consuming class would have money to spend.

Retrofitting our current stock of autos and homes to electrons, with the new technologies that are now available is the answer to the funk and fear we are in.

Balance and sustainability are the key.

Thank you for listening to my thoughts!

If we convert our (world) transportation system to an electrified transportation system, we can drive the price of gasoline well below $2.00/gallon. Oil then would only be used for non-transportation uses.

In the process, we would create unknown high paying sticky jobs, transforming our carbon society to an electron society and the middle class and below would be the winners (as we reduce their energy costs and create, high paying life sustaining jobs. And this could be accomplished by wrestling away the power of the Oligopolies that dominate our economic system. And in the end they too would prosper because the consuming class would have money to spend.

Retrofitting our current stock of autos and homes to electrons, with the new technologies that are now available is the answer to the funk and fear we are in.

Balance and sustainability are the key.

Thank you for listening to my thoughts!