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	<title>Comments on: Is Offshore Oil Drilling a Good or Bad Idea?</title>
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	<item>
		<title>By: ConstitutionSchool</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-774340</link>
		<dc:creator>ConstitutionSchool</dc:creator>
		<pubDate>Thu, 10 Mar 2011 08:32:00 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-774340</guid>
		<description>Drill in America... For the Evnironment&#039;s Sake!</description>
		<content:encoded><![CDATA[<p>Drill in America&#8230; For the Evnironment&#8217;s Sake!</p>
]]></content:encoded>
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	<item>
		<title>By: Jacob</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-748296</link>
		<dc:creator>Jacob</dc:creator>
		<pubDate>Tue, 11 May 2010 19:52:32 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-748296</guid>
		<description>This artical make a good argument pre April 20th 2010. What do you have to say about off shore drilling now?</description>
		<content:encoded><![CDATA[<p>This artical make a good argument pre April 20th 2010. What do you have to say about off shore drilling now?</p>
]]></content:encoded>
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	<item>
		<title>By: gary</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-710003</link>
		<dc:creator>gary</dc:creator>
		<pubDate>Thu, 19 Mar 2009 16:18:46 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-710003</guid>
		<description>The oil companies are exporting crude to overseas markets and letting them drill more domestically or offshore would be a waste of our oil because we wouldn&#039;t of received any benefit.  Research how much crude oil, heating oil, natural gas, LNG, diesel, and gasoline is exported from this country and you would be shocked.  Lots of the oil in the Alaskan Pipeline is shipped to Japan.  The oil companies say they want to build more refineries and do more drilling, but I say they don&#039;t need to do either until we stop all exports.  We can never be energy independent as long as we continue exporting to other countries.  Offshore drilling and onshore drilling in Alaska is extremely attractive to oil companies because one offshore well can equal fifteen onshore wells in production and drilling in Alaska produces large volumes of oil.  For every barrel of oil we send overseas that&#039;s another barrel of oil we have to import.

GB</description>
		<content:encoded><![CDATA[<p>The oil companies are exporting crude to overseas markets and letting them drill more domestically or offshore would be a waste of our oil because we wouldn&#8217;t of received any benefit.  Research how much crude oil, heating oil, natural gas, LNG, diesel, and gasoline is exported from this country and you would be shocked.  Lots of the oil in the Alaskan Pipeline is shipped to Japan.  The oil companies say they want to build more refineries and do more drilling, but I say they don&#8217;t need to do either until we stop all exports.  We can never be energy independent as long as we continue exporting to other countries.  Offshore drilling and onshore drilling in Alaska is extremely attractive to oil companies because one offshore well can equal fifteen onshore wells in production and drilling in Alaska produces large volumes of oil.  For every barrel of oil we send overseas that&#8217;s another barrel of oil we have to import.</p>
<p>GB</p>
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	<item>
		<title>By: Rasheem Waleed Falook</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-705267</link>
		<dc:creator>Rasheem Waleed Falook</dc:creator>
		<pubDate>Thu, 15 Jan 2009 03:23:13 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-705267</guid>
		<description>Quality Proof.  It&#039;s Debateable</description>
		<content:encoded><![CDATA[<p>Quality Proof.  It&#8217;s Debateable</p>
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	<item>
		<title>By: John</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-699692</link>
		<dc:creator>John</dc:creator>
		<pubDate>Thu, 11 Dec 2008 22:06:11 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-699692</guid>
		<description>Very informative article.

Here is a link where people can send comments to Obama and others in Washington about the need to keep the moratorium lifted.</description>
		<content:encoded><![CDATA[<p>Very informative article.</p>
<p>Here is a link where people can send comments to Obama and others in Washington about the need to keep the moratorium lifted.</p>
]]></content:encoded>
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	<item>
		<title>By: Ailurophobe</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-697185</link>
		<dc:creator>Ailurophobe</dc:creator>
		<pubDate>Mon, 08 Dec 2008 20:41:11 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-697185</guid>
		<description>I&#039;ll be a devil&#039;s advocate here and say that I oppose opening up the offshore drilling. I should also said that my opinion of the environmentalists and their arguments against it is pretty much the same as in the original post. I agree there are no real environmental or economic reason against it. There is a long prologue of history here, feel free to skip to the end.

But the politics is more complex. The US is without dispute the richest and most technologically advanced country in the world. Still many European and Asian industrialized nations have basic infrastructures that are not only more advanced and environmentally friendly but even more cost efficient than their counterparts in the US. Why?

The answer is simple. There is a wide gap in the amount and quality of political leadership in building national infrastructure between the US and these other countries. In Europe for example much of the national infrastructure was built after the destruction of the war by the government for the simple reason that, unlike the lucky bastards on the other side of the pond, Europe did not have access to anywhere near the amount of private investment to get the job done. Wars do that, which is why Europeans tend to be so much more sceptical about wars than Americans who don&#039;t have the experience the damage war causes to the societies in the war zone. (And why the British who were saved from enemy occupation by the Channel are more likely to support wars than the Germans and French who grew up hearing stories of what it is actually like.)

Anyway, the war forced Europe to rely on nationalized basic infrastructure when rebuilding to a modern society. In the US meanwhile building the modern infrastructure after the war happened largely on private investment. As the only industrialized nation that didn&#039;t get devastated by the war the US was assured economic dominance and sufficient investment as long as the government gave some direction and didn&#039;t actually prevent economic growth and development with bad laws and regulations.

This difference in the economic realities combined with the cold war propaganda against communism (and people using the effects Reagans reforms had to support ideological dogma instead of just noting that he fixed the economy by fixing in hindsight obvious problems that no longer exist on the scale they did - because he fixed them, I mean seriously, if lowering the taxes were &lt;b&gt;always&lt;/b&gt; the right thing to do even politicians would have noticed it after few centuries of trying, but sadly sometimes raising taxes is actually the better choice) resulted in European politicians who are comfortable in taking responsibility over matters of infrastructure and feel responsible for the infrastructure working because when they and most of the voters grew up the government still actually run that infrastructure and American politicians who are so indoctrinated against government interference on economy they actually have a strong preference on inaction even on things that are actually run by the government.

BACK ON TOPIC:

The problem is that the power infrastructure needs to be reformed on a national scale if we wish to cut the environmental effects (and there are actually other problems as well) it has fast enough for it to matter at all. The private actors can do the actual work and even funding if need be. (Richest country in the world and all that.) What they can&#039;t do is doing the governments work and lead the process by making the decisions and the commitment to those decisions on a national level. Even if we think of private corporations as charities that will spend stock owners money like water on fixing other peoples problems in order to gain the holy grail or some such nebulous reason, it is not their responsibility to take the responsibility for global problems. It is the governments job and responsibility to think about these issues and then lead the private sector by giving them regulations that tell them what are the right decisions to do in view of the big picture.

There are probably some reading this that think that the market forces can determine what the right decisions better than the politicos can. You are absolutely right, the market forces will always find the best and most efficient solution. The problem is that the market forces act exclusively in the present and do absolutely nothing to prevent interim solutions that result in bad things or even very bad things in the future, some of which may be irreparable. To avoid this the actors in the market have to be smart and look forward in order to avoid decisions leading to bad things. The problem is that most actors only look forward a limited time because of the structural problems of people being paid to make decisions about other peoples property with incentives that actively reward focusing on the short term. So you would need specialized actors who get paid to look farther ahead and then guide other shorter term actors away from the bad decisions they see causing problems in the long term. Call these specialized actors the &#039;government&#039;, and you may see the problem with the US politics I am worried about.

The markets require the government to avoid long term problems such as the environmental issues surrounding the greenhouse effect (or the foreign oil dependency), this is as it should be, worrying about such things is not the responsibility of private corporations. The problem is that in the US most politicians believe that they should not interfere with the economy unless absolutely necessary because thanks to historical accidents that has what can be made to look like a pretty good track record. So they will only do their job that the markets absolutely require them to do to work well, if there is a clear and present crisis that forces them to do so. In any other case even if they meddle in the markets it is only to look good in the next elections and deals with short term issues the markets could have dealt with without a single politician showing up for a photo-op, probably better as well. (Which explains why in the US most people see government interference in the economy as bad, most of it really has been.)

So the problem of solving these problems in the US is not what to do, it is how to force the politicians to do the job they swore an oath to do and get paid for. And the reason I oppose off-shore drilling is because it reduces the pressure on the politicians without solving the long term problems. And reducing the pressure on politicians is just another way of saying that nothing will get done on the difficult issues requiring decisions the private sector has great difficulty doing without government support. So I think off-shore drilling should be blocked by any means until the politicians get off their collective butts and do their job. After that happens, I am all for it.

Not trying to start an argument here or saying the posters before were wrong (I mostly agree actually), just saying that IMHO you also need to look at the bigger picture not just the specific issue and that the bigger picture can be argued to point to a &#039;no&#039; even if the specific issue points to a &#039;yes&#039;. Really more trying to give another angle to look at it, than trying to claim I know the right solution.</description>
		<content:encoded><![CDATA[<p>I&#8217;ll be a devil&#8217;s advocate here and say that I oppose opening up the offshore drilling. I should also said that my opinion of the environmentalists and their arguments against it is pretty much the same as in the original post. I agree there are no real environmental or economic reason against it. There is a long prologue of history here, feel free to skip to the end.</p>
<p>But the politics is more complex. The US is without dispute the richest and most technologically advanced country in the world. Still many European and Asian industrialized nations have basic infrastructures that are not only more advanced and environmentally friendly but even more cost efficient than their counterparts in the US. Why?</p>
<p>The answer is simple. There is a wide gap in the amount and quality of political leadership in building national infrastructure between the US and these other countries. In Europe for example much of the national infrastructure was built after the destruction of the war by the government for the simple reason that, unlike the lucky bastards on the other side of the pond, Europe did not have access to anywhere near the amount of private investment to get the job done. Wars do that, which is why Europeans tend to be so much more sceptical about wars than Americans who don&#8217;t have the experience the damage war causes to the societies in the war zone. (And why the British who were saved from enemy occupation by the Channel are more likely to support wars than the Germans and French who grew up hearing stories of what it is actually like.)</p>
<p>Anyway, the war forced Europe to rely on nationalized basic infrastructure when rebuilding to a modern society. In the US meanwhile building the modern infrastructure after the war happened largely on private investment. As the only industrialized nation that didn&#8217;t get devastated by the war the US was assured economic dominance and sufficient investment as long as the government gave some direction and didn&#8217;t actually prevent economic growth and development with bad laws and regulations.</p>
<p>This difference in the economic realities combined with the cold war propaganda against communism (and people using the effects Reagans reforms had to support ideological dogma instead of just noting that he fixed the economy by fixing in hindsight obvious problems that no longer exist on the scale they did &#8211; because he fixed them, I mean seriously, if lowering the taxes were <b>always</b> the right thing to do even politicians would have noticed it after few centuries of trying, but sadly sometimes raising taxes is actually the better choice) resulted in European politicians who are comfortable in taking responsibility over matters of infrastructure and feel responsible for the infrastructure working because when they and most of the voters grew up the government still actually run that infrastructure and American politicians who are so indoctrinated against government interference on economy they actually have a strong preference on inaction even on things that are actually run by the government.</p>
<p>BACK ON TOPIC:</p>
<p>The problem is that the power infrastructure needs to be reformed on a national scale if we wish to cut the environmental effects (and there are actually other problems as well) it has fast enough for it to matter at all. The private actors can do the actual work and even funding if need be. (Richest country in the world and all that.) What they can&#8217;t do is doing the governments work and lead the process by making the decisions and the commitment to those decisions on a national level. Even if we think of private corporations as charities that will spend stock owners money like water on fixing other peoples problems in order to gain the holy grail or some such nebulous reason, it is not their responsibility to take the responsibility for global problems. It is the governments job and responsibility to think about these issues and then lead the private sector by giving them regulations that tell them what are the right decisions to do in view of the big picture.</p>
<p>There are probably some reading this that think that the market forces can determine what the right decisions better than the politicos can. You are absolutely right, the market forces will always find the best and most efficient solution. The problem is that the market forces act exclusively in the present and do absolutely nothing to prevent interim solutions that result in bad things or even very bad things in the future, some of which may be irreparable. To avoid this the actors in the market have to be smart and look forward in order to avoid decisions leading to bad things. The problem is that most actors only look forward a limited time because of the structural problems of people being paid to make decisions about other peoples property with incentives that actively reward focusing on the short term. So you would need specialized actors who get paid to look farther ahead and then guide other shorter term actors away from the bad decisions they see causing problems in the long term. Call these specialized actors the &#8216;government&#8217;, and you may see the problem with the US politics I am worried about.</p>
<p>The markets require the government to avoid long term problems such as the environmental issues surrounding the greenhouse effect (or the foreign oil dependency), this is as it should be, worrying about such things is not the responsibility of private corporations. The problem is that in the US most politicians believe that they should not interfere with the economy unless absolutely necessary because thanks to historical accidents that has what can be made to look like a pretty good track record. So they will only do their job that the markets absolutely require them to do to work well, if there is a clear and present crisis that forces them to do so. In any other case even if they meddle in the markets it is only to look good in the next elections and deals with short term issues the markets could have dealt with without a single politician showing up for a photo-op, probably better as well. (Which explains why in the US most people see government interference in the economy as bad, most of it really has been.)</p>
<p>So the problem of solving these problems in the US is not what to do, it is how to force the politicians to do the job they swore an oath to do and get paid for. And the reason I oppose off-shore drilling is because it reduces the pressure on the politicians without solving the long term problems. And reducing the pressure on politicians is just another way of saying that nothing will get done on the difficult issues requiring decisions the private sector has great difficulty doing without government support. So I think off-shore drilling should be blocked by any means until the politicians get off their collective butts and do their job. After that happens, I am all for it.</p>
<p>Not trying to start an argument here or saying the posters before were wrong (I mostly agree actually), just saying that IMHO you also need to look at the bigger picture not just the specific issue and that the bigger picture can be argued to point to a &#8216;no&#8217; even if the specific issue points to a &#8216;yes&#8217;. Really more trying to give another angle to look at it, than trying to claim I know the right solution.</p>
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	<item>
		<title>By: Chinookman</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-696116</link>
		<dc:creator>Chinookman</dc:creator>
		<pubDate>Sun, 07 Dec 2008 17:11:52 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-696116</guid>
		<description>Thanks for an informative post. I will now add to this politically correct crippling the economy issue. First off the environmentalists have digressed from sound policy to a religion that all is sacred and that we in the USA can do nothing correctly. Second they offer no solutions. Three the 3% lie is a intentional misleading lie. (see: http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html) The 3% is what we have drilled and pumping, the percentages are higher for what we have drilled and tapped, and what we have in known reserves and what we have in unproven reserves. 

The USA has the best environmental record in our country versus the rest of the world yet the greenies are silent about the record of drillers overseas. Hypocrites. I don&#039;t know about you young kids under 30 but schools only teach politically correct revisionist history. I came back from Germany in &#039;75 and gas was (gasp!) 75 cents a gallon, double digit inflation and unemployment. Yeah it really was much worse back then unlike today. My point is both parties are gutless about moving forward, yet you and I are responsible for voting them back in over and over again. There is no easy solution but American have become mentally obese and very lazy and want a pain free solution just like the majic pill for losing weight. (right!)

Another lie is the ten year lie. We the nation  that mobilized to defeat enemies overseas twice within 50 years are what? To lazy, unwilling or what to do this again. Help me here because I still believe as a nation we can get this done in less then five years. The Alaskan line can be done in 18 months by our own congressman&#039;s testimony. 

Call the Greenies what they are; Religious zealots that have historically offered only opposition and little money and engineering efforts to wards a solution. I have followed this since the 70&#039;s .This is about a religion of saving mother earth. I&#039;m calling them BS! 

Yes we have more oil reserves then Saudi Arabia, one has to quit feeding at the trough of the enviro-left networks. 

Enough oil? The Russians have shown high potential that petroleum is a abiotic process much like the gasses off the coast of California are showing it to be. High pressure high temps deep within the earth are a natural process of relieving pressure and we get petroleum Yeah its simplistic for illustration purposes but you get the point.

The other ploy of the left is the guilt trip that we consume more then others and have less resources then others. Another lie of the left.  You young readers need to study up on Karl Marx and understand the language of subtleties like democracy, progressive, fairness, etc. These are all social engineering ploys to bring us down to third world status. Oil is but one methodology of the big picture of the downfall of the US. Shame so many cannot see it due to lack of understanding what liberty and pursuit of happiness and the responsibility that goes along with it. Because as a nation if you did grasp it we would have demanded to throw the bankers and auto makers out on their cans for dereliction of duty. Instead you all have witnessed the greatest wealth transfer in history greater then the contrived great depression and yet we as a nation are (in the age of the Internet) clueless.

Here take a bit to digest and learn how we all are being screwed: http://cafr1.com/

May God have mercy on us all.............

So yes we need to drill now and fast, move the Middle east psychology towards dropping prices; and quit sending trillions of dollars overseas to a religious group of fanatics whose only appeasement is total annihilation or conversion towards Islam.</description>
		<content:encoded><![CDATA[<p>Thanks for an informative post. I will now add to this politically correct crippling the economy issue. First off the environmentalists have digressed from sound policy to a religion that all is sacred and that we in the USA can do nothing correctly. Second they offer no solutions. Three the 3% lie is a intentional misleading lie. (see: <a href="http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html" rel="nofollow">http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html</a>) The 3% is what we have drilled and pumping, the percentages are higher for what we have drilled and tapped, and what we have in known reserves and what we have in unproven reserves. </p>
<p>The USA has the best environmental record in our country versus the rest of the world yet the greenies are silent about the record of drillers overseas. Hypocrites. I don&#8217;t know about you young kids under 30 but schools only teach politically correct revisionist history. I came back from Germany in &#8217;75 and gas was (gasp!) 75 cents a gallon, double digit inflation and unemployment. Yeah it really was much worse back then unlike today. My point is both parties are gutless about moving forward, yet you and I are responsible for voting them back in over and over again. There is no easy solution but American have become mentally obese and very lazy and want a pain free solution just like the majic pill for losing weight. (right!)</p>
<p>Another lie is the ten year lie. We the nation  that mobilized to defeat enemies overseas twice within 50 years are what? To lazy, unwilling or what to do this again. Help me here because I still believe as a nation we can get this done in less then five years. The Alaskan line can be done in 18 months by our own congressman&#8217;s testimony. </p>
<p>Call the Greenies what they are; Religious zealots that have historically offered only opposition and little money and engineering efforts to wards a solution. I have followed this since the 70&#8242;s .This is about a religion of saving mother earth. I&#8217;m calling them BS! </p>
<p>Yes we have more oil reserves then Saudi Arabia, one has to quit feeding at the trough of the enviro-left networks. </p>
<p>Enough oil? The Russians have shown high potential that petroleum is a abiotic process much like the gasses off the coast of California are showing it to be. High pressure high temps deep within the earth are a natural process of relieving pressure and we get petroleum Yeah its simplistic for illustration purposes but you get the point.</p>
<p>The other ploy of the left is the guilt trip that we consume more then others and have less resources then others. Another lie of the left.  You young readers need to study up on Karl Marx and understand the language of subtleties like democracy, progressive, fairness, etc. These are all social engineering ploys to bring us down to third world status. Oil is but one methodology of the big picture of the downfall of the US. Shame so many cannot see it due to lack of understanding what liberty and pursuit of happiness and the responsibility that goes along with it. Because as a nation if you did grasp it we would have demanded to throw the bankers and auto makers out on their cans for dereliction of duty. Instead you all have witnessed the greatest wealth transfer in history greater then the contrived great depression and yet we as a nation are (in the age of the Internet) clueless.</p>
<p>Here take a bit to digest and learn how we all are being screwed: <a href="http://cafr1.com/" rel="nofollow">http://cafr1.com/</a></p>
<p>May God have mercy on us all&#8230;&#8230;&#8230;&#8230;.</p>
<p>So yes we need to drill now and fast, move the Middle east psychology towards dropping prices; and quit sending trillions of dollars overseas to a religious group of fanatics whose only appeasement is total annihilation or conversion towards Islam.</p>
]]></content:encoded>
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	<item>
		<title>By: Urban Underbrink</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-696016</link>
		<dc:creator>Urban Underbrink</dc:creator>
		<pubDate>Sun, 07 Dec 2008 14:58:41 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-696016</guid>
		<description>If we don&#039;t go ahead and set up some offshore wells, other Nations will be spilling our oil into the Ocean, and there will be nothing we can do about it.  At some point we will need that oil to survive.  Oil is used for much more than gasoline and diesel fuel and before long the supply will run short again.  This was a wake up call and when the World&#039;s economy comes back, so will much higher prices to put us into another Depression.  Sure we need to modernize and have efficient autos and clean up our space, but high taxes and Al Gore would put a stop to all that with his Global Warming Swindle.</description>
		<content:encoded><![CDATA[<p>If we don&#8217;t go ahead and set up some offshore wells, other Nations will be spilling our oil into the Ocean, and there will be nothing we can do about it.  At some point we will need that oil to survive.  Oil is used for much more than gasoline and diesel fuel and before long the supply will run short again.  This was a wake up call and when the World&#8217;s economy comes back, so will much higher prices to put us into another Depression.  Sure we need to modernize and have efficient autos and clean up our space, but high taxes and Al Gore would put a stop to all that with his Global Warming Swindle.</p>
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	<item>
		<title>By: Miguel Chavez</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-695699</link>
		<dc:creator>Miguel Chavez</dc:creator>
		<pubDate>Sun, 07 Dec 2008 04:40:09 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-695699</guid>
		<description>You make several good points James, but the underlying dilemma is that the United States sits on only 3% of the world&#039;s petroleum supply. Oil, like many other commodities, is sold in the free global market. This means that even if the United States increased US oil production by 20% -- via drilling offshore, as you suggest -- it would not correspond to a 20% reduction in gasoline prices. No, you must evaluate this increased production to the total world supply of oil. If Shell or Exxon drilled in Alaska, they could sell our American oil to Russia, China or whomever offered the highest bid. This is the basis of our free market system. If we increased the global supply by 2% -- which is an optimistic expectation -- you would only see a 2% reduction in oil and gasoline prices. Now given the genuine environmental issues involved, it seems reasonable to ask if this modest decrease in price is really worth the risk. I, like you, wish the United States was a veritable Saudi Arabia, but we are not. And it&#039;s not the environmentalists fault that there&#039;s no oil below our feet. I don’t see any reason to blame them for our respective frustration. It&#039;s just the random luck of the draw. But if high gasoline prices are your concern I would imagine you would find it interesting that our country consumes 20 to 25% of the total petroleum supply, while constituting only 5% of the worlds population. Given our disproportionate excess, should we not at least entertain the prospect of conservation? Or modifying our gasoline cars to use electricity (a form of energy we can produce--both responsibly and realistically)? Best,</description>
		<content:encoded><![CDATA[<p>You make several good points James, but the underlying dilemma is that the United States sits on only 3% of the world&#8217;s petroleum supply. Oil, like many other commodities, is sold in the free global market. This means that even if the United States increased US oil production by 20% &#8212; via drilling offshore, as you suggest &#8212; it would not correspond to a 20% reduction in gasoline prices. No, you must evaluate this increased production to the total world supply of oil. If Shell or Exxon drilled in Alaska, they could sell our American oil to Russia, China or whomever offered the highest bid. This is the basis of our free market system. If we increased the global supply by 2% &#8212; which is an optimistic expectation &#8212; you would only see a 2% reduction in oil and gasoline prices. Now given the genuine environmental issues involved, it seems reasonable to ask if this modest decrease in price is really worth the risk. I, like you, wish the United States was a veritable Saudi Arabia, but we are not. And it&#8217;s not the environmentalists fault that there&#8217;s no oil below our feet. I don’t see any reason to blame them for our respective frustration. It&#8217;s just the random luck of the draw. But if high gasoline prices are your concern I would imagine you would find it interesting that our country consumes 20 to 25% of the total petroleum supply, while constituting only 5% of the worlds population. Given our disproportionate excess, should we not at least entertain the prospect of conservation? Or modifying our gasoline cars to use electricity (a form of energy we can produce&#8211;both responsibly and realistically)? Best,</p>
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		<title>By: Ron Knights</title>
		<link>http://chris.pirillo.com/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-695655</link>
		<dc:creator>Ron Knights</dc:creator>
		<pubDate>Sun, 07 Dec 2008 03:38:15 +0000</pubDate>
		<guid isPermaLink="false">http://chris.pirillo.com/2008/12/06/is-offshore-oil-drilling-a-good-or-bad-idea/#comment-695655</guid>
		<description>That&#039;s a very informative article. I didn&#039;t know about the environmental factor before. Now I&#039;m all for offshore drilling.

The other thing though is the fact that it&#039;s Demand that truly affects the price of oil and gas.

People around the world started consuming less gas, and the prices went down.

We really need to get serious and build more economical cars, etc.</description>
		<content:encoded><![CDATA[<p>That&#8217;s a very informative article. I didn&#8217;t know about the environmental factor before. Now I&#8217;m all for offshore drilling.</p>
<p>The other thing though is the fact that it&#8217;s Demand that truly affects the price of oil and gas.</p>
<p>People around the world started consuming less gas, and the prices went down.</p>
<p>We really need to get serious and build more economical cars, etc.</p>
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