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And yes, I'm sure the oil companies would work very fast to get the oil up, but given the terrible record they have for spills and the complete disregard for the environment they show (unless forced to), I don't really think rushing is a good idea.

1976
Dec. 15, Buzzards Bay, Mass.: Argo Merchant ran aground and broke apart southeast of Nantucket Island, spilling its entire cargo of 7.7 million gallons of fuel oil.
1979
June 3, Gulf of Mexico: exploratory oil well Ixtoc 1 blew out, spilling an estimated 140 million gallons of crude oil into the open sea. Although it is one of the largest known oil spills, it had a low environmental impact.
1989
March 24, Prince William Sound, Alaska: tanker Exxon Valdez hit an undersea reef and spilled 10 million–plus gallons of oil into the water, causing the worst oil spill in U.S. history.
1990
June 8, off Galveston, Tex.: Mega Borg released 5.1 million gallons of oil some 60 nautical miles south-southeast of Galveston as a result of an explosion and subsequent fire in the pump room.
1993
Aug. 10, Tampa Bay, Fla.: three ships collided, the barge Bouchard B155, the freighter Balsa 37, and the barge Ocean 255. The Bouchard spilled an estimated 336,000 gallons of No. 6 fuel oil into Tampa Bay.
2000
Nov. 28, Mississippi River south of New Orleans: oil tanker Westchester lost power and ran aground near Port Sulphur, La., dumping 567,000 gallons of crude oil into lower Mississippi. Spill was largest in U.S. waters since Exxon Valdez disaster in March 1989.
2004
Dec. 7, Unalaska, Aleutian Islands, Alaska: A major storm pushed the M/V Selendang Ayu up onto a rocky shore, breaking it in two. 337,000 gallons of oil were released, most of which was driven onto the shoreline of Makushin and Skan Bays.
2005
Aug.-Sept., New Orleans, Louisiana: The Coast Guard estimated that more than 7 million gallons of oil were spilled during Hurricane Katrina from various sources, including pipelines, storage tanks and industrial plants.
2006
June 19, Calcasieu River, Louisiana: An estimated 71,000 barrels of waste oil were released from a tank at the CITGO Refinery on the Calcasieu River during a violent rain storm.
2008
July 25, New Orleans, Louisiana: A 61-foot barge, carrying 419,000 gallons of heavy fuel, collides with a 600-foot tanker ship in the Mississippi River near New Orleans. Hundreds of thousands of gallons of fuel leak from the barge, causing a halt to all river traffic while cleanup efforts commence to limit the environmental fallout on local wildlife.
2010
Jan. 23, Port Arthur, Texas: The oil tanker Eagle Otome and a barge collide in the Sabine-Neches Waterway, causing the release of about 462,000 gallons of crude oil. Environmental damage was minimal as about 46,000 gallons were recovered and 175,000 gallons were dispersed or evaporated, according to the U.S. Coast Guard.
April 24, Gulf of Mexico: The Deepwater Horizon, a semi-submersible drilling rig, sank on April 22, after an April 20th explosion on the vessel. Eleven people died in the blast. When the rig sank, the riser—the 5,000-foot-long pipe that connects the wellhead to the rig—became detached and began leaking oil. In addition, U.S. Coast Guard investigators discovered a leak in the wellhead itself. As much as 60,000 barrels of oil per day were leaking into the water, threatening wildlife along the Louisiana Coast. Homeland Security Secretary Janet Napolitano declared it a "spill of national significance." BP (British Petroleum), which leased the Deepwater Horizon, is responsible for the cleanup, but the U.S. Navy supplied the company with resources to help contain the slick. Oil reached the Louisiana shore on April 30, affected about 125 miles of coast. By early June, oil had also reached Florida, Alabama, and Mississippi. It is the largest oil spill in U.S. history.

Read more: Oil Spills and Disasters — Infoplease.com http://www.infoplease.com/ipa/A0001451. ... z1FeKeMyZ7

Frankly, I'd rather pay 10 cents more a gallon.

Oil spills in U.S. waters from rigs and pipelines have more than quadrupled in this decade, government records show.

U.S. Minerals Management Services says the annual total of oil spills has increased from an average of four spills per year of 50 barrels or more in the 1990s to more than 17 per year from 2000 to 2009, USA Today reported Tuesday.

One barrel of oil is equal to 42 gallons, MMS says.

Figures indicate the company with the highest average number of spills this decade is oil giant BP, which has been trying to cap a well that has been spewing oil into the Gulf of Mexico since April 20.

Not counting the current spill, BP and its affiliated companies have reported 23 spills of 50 barrels or more since 2000.

MMS says Shell Oil Co. is next with 21 spills.

Your 80 cents has no basis. My 10 cents can from Jubber's own numbers since none of us know what effect new American oil will have on the market.

Being so dependant on foreign countries for our life blood is dangerous and we need to do what we can to get rid of their influence.

Drunk tattoo on my hand, unquoted, troll worts, or $5 in gas?
here's a graff:

The dollar, since the Fed was conceived, has been slowly losing value until the late 1970's when we abandoned the Gold Standard and just started printing money because we could print money -- at that point the Fed started to accelerate the devaluing of money. Look at 2009 when the Fed printed $1T out of thin air. You're right - the dollar still exists but when you print money like that it makes the money less valuable meaning you need more of it to purchase goods and services. If we had some way to change metals to gold, the value of gold would drop because we could create as much of it as we wanted. If everyone in the world had a doctorates in some biology-related field, your education wouldn't be worth as much since it'd be a dime a dozen. The dollar is no different, especially when there is nothing backing it's value.

Seriously, this is one big game of moving money from your right pocket to your left. You write yourself an IOU, then you tell yourself you're going to pay yourself back with money that you're about to make, then you make the money and give it back to yourself and that somehow settles the score and makes you twice as rich?

I suppose that makes sense depending on how you're going to define "significant." Currently, for every dollar the price a barrel of oil increases, the price at the pump increases by $.02 per gallon. Any new production is going lower the price per barrel by putting more on the market (supply up/price down), and even the difference of $5 per barrel is going to change pump prices (which is the way the American consumer views energy prices) by $.10 per gallon, which in the eyes of most consumers is significant. Obviously, new supplies wouldn't hit the market immediately, but in the long term, this is the best option, especially given the volatile nature of the region of the world from which we import most of our supply.

On that note, the reason that we import so much from the Middle East isn't because we're "running out," but because regulations and mandates have slowed the flow. In Texas, most new wells aren't for petroleum, they're for natural gas. Why? Because the there is a wider profit margin in natural gas, and less red tape. There is also the issue of having to drill deeper, but that would not be an issue in previously untapped regions, like the Eastern Seaboard and ANWAR, for quite some time.

We're already paying the price for pollution at the pump, in the form of the regulations meant to curtail it which increase the prices. I have no issue with necessary and reasonable regulation, but you'd be hard-pressed to convince me that all the regulations impeding new drilling/exploration, new refineries, and other new infrastructure are reasonable and necessary. If anything, we're far more responsible here than in many other parts of the world, especially emerging economies like China and India. with whom we compete for these resources. While I wouldn't want us doing business the way they do, and agree that there need to be requirements to prevent pollution, the current cost/benefit calculation is, as far as I'm concerned, costing too much for too little discernible benefit.

If the concerns of those worried over 'peak oil' fears are correct, the cost of petroleum as a fuel source will eventual increase to a point where we will be forced to use other sources...perhaps even ethanol. Remember that petroleum was not always in demand, and was in fact once an impediment to industry, since it was sometimes found in salt-mines, where it ruined the material industry was there to harvest. It was not until someone played with the crude and discovered that it could be run through a still to make cheap lamp oil that anyone had any interest in the stuff. Diesel engines were originally designed to run off of animal and plant oils until it was found that one of the by-products of petroleum refining was cheaper and more effective. Those were innovations that occurred without a government prodding it to happen with subsidies...and the next wave of energy innovations are more likely going to be the result of some serendipitous event or guy screwing around in his garage.

A simple search would have shown you a much greater number of oil spills. NOAA lists 86 since 2000, and that was only oil spilled on water, and only spills reported to them. http://databases.sun-sentinel.com/news/ ... l_list.php

Spills are also becoming more frequent:



http://www.upi.com/Top_News/US/2010/06/ ... 276004328/