Quote:
Originally Posted by daddio
I have no idea what Germans are doing and if you're there you have no idea what we're doing. This was a bigger deal in the 70's but there are significant improvements in tires these days, they hold their air better.
And I saw what BHO had to say. I'll trust my own eyes and ears.
Again, good tip as is changing your oil regularly, but only a tip, not a substitute for the many benefits of increasing domestic production of oil which will force prices down and reduce dependance on foreign product.
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Nobody has a plan for increasing domestic oil production for real, because domestic oil production isn't being held back by anyone.
The oil companies have only explored 25% of their federal leases, they haven't run out of places to drill.
They have plenty of money, so that's not the issue, they haven't increased drilling because it's in their best interest to do exactly as much drilling as they are doing now. When the Democrats proposed a "use it or lose it" law on oil leases, that actually would have increased drilling, it was defeated.
Oil prices are way too high, the price should probably be 40-60/ barrel, but there is a huge risk premium on the price because of the Iraq war.
$100+ oil is not sustainable in the future, because it really does gut the world economy, the price is falling now because the world economy has slowed down so much that the oil is backing up and inventories are building.
If you really want to lower the price of oil, stability in Iraq ASAP will do more than anything else to do that in the next 10 years. If the US had not invaded Iraq, and the sanctions had been dropped, oil would probably be around $30/barrel now.
Saddam was nothing if not stabilizing.