White House wants more oil; investment not seen

[maddezmom]

Source: AP

WASHINGTON (Reuters) - The White House called for more U.S. and global oil output to fight rising energy costs, but a top intelligence official said on Wednesday that prices at $100 per barrel had yet to spur production.

"We would like to not only have exporting countries increase their output but we would also like here in the United States to be able to increase domestic (oil) production in environmentally friendly ways," White House spokeswoman Dana Perino told reporters.

She insisted, however, there was no "silver bullet" or short-term solution to high energy costs.

Perino spoke as government forecasters warned U.S. drivers would pay much more for gasoline this spring and summer than they did last year because of more expensive crude oil.



Read more: http://news.yahoo.com/s/nm/20080227/pl_nm/security_oil_usa_dc

[no_hypocrisy]

1. More oil is not the remedy for a falling devalued dollar.

[goforit]

5. bada bing!!! right on!!!

Corporations can start to bolster the economy by refraining from outsourcing.

[NickB79]

2. Good luck with that

Global oil output peaked in 2005, and has been flatlined since then. Lately it even looks like it's starting to decline a bit.

The US oil output peaked in 1970, and has been on a downhill slide ever since. Not the high oil prices of oil shocks of the 1970's, 1980's, or in the past 5 years, nor the opening of the Alaskan wilderness, have helped offset the decline.

Maybe we should face the fact that we're leaving the age of cheap oil?

[Ghost Dog]

4. Any opinion on abiotic hydrocarbons?

"There is an alternative theory about the formation of oil and gas deposits that could change estimates of potential future oil reserves. According to this theory, oil is not a fossil fuel at all, but was formed deep in the Earth's crust from inorganic materials. The theory was first proposed in the 1950s by Russian and Ukranian scientists. Based on the theory, successful exploratory drilling has been undertaken in the Caspian Sea region, Western Siberia, and the Dneiper-Donets Basin".

http://www.enviroliteracy.org/article.php/1130.html
http://freeenergynews.com/Directory/Theory/SustainableOil/

[Mojorabbit]

7. I have read several articles

debunking the theory. I bet those in the energy forum could point you to some good info on it.
http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=115

[leftrightwingnut]

14. Virtually unlimited abiotic hydrocarbon deposits would be a disaster.

We are already slowly poisoning our atmosphere with carbon dioxide from burning hydrocarbons, regardless of origin. If the abiotic theory is correct, the eventual outcome is extreme global warming because we will eventually overwhelm the atmosphere with it regardless of how accurate our estimates of carbon dioxide's warming effects are. Carbon dioxide acidifies the oceans and freshwater sources, turning them to weak soda pop acid killing all life in them. Even if we were to survive those effects and still continue to burn the fuels, land animals, including humans, will eventually be unable to breathe and die.

Have you ever seen the movie "Apollo 13"? The astronauts on that ill-fated craft nearly died because the filters that removed carbon dioxide from the cabin air failed. They were nearly killed by their own carbon dioxide emissions.

So, it may be very difficult to live in a world whose oil supplies have just peaked, but it is probably a good thing in the long run.

[Ghost Dog]

15. Absolutely agree with you there.

Unless, of course, we can apply some rationality and self-discipline to future economic and social development.

[Tempest]

3. Why would oil companies want to increase production?

It would lower oil prices, which would lower profits.

They've got the consumer by the short hairs and I doubt they want to let go.

And OPEC has no incentive since they're losing money on oil sales thanks to a declining dollar. That's why they'll remove the peg to the dollar, which will cause even more domestic problems.

[MasonJar]

6. Dana Perino is either one the most stupid people alive today or else one of the

most disingenuous

[maddezmom]

9. can't she be both

:hi:

[Zorra]

12. That is the exact definition of a republican.

Republican: "A person that is either stupid or disingenuous"

[Cymric]

8. It won't matter

What people don't understand it that the oil will go on the public market despite where it comes from. We could pump more oil but it could go to China instead of the US.

[ConcernedCanuk]

10. If the World got together on this oil thing, We could shut down that War-Machine

.
.
.

Ya think it's doable?

Or would they just bomb anyone that cut them off?

[mike_c]

11. option two....

That's why they call it the military industrial complex.

[natrat]

13. maybe he really is an idiot

and the puppet masters don't tell him what they are planning

[bdamomma]

16. and all those oil companies, are rolling in money right now

and just laughing at us.