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2008-08-13 Home Front Economy

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Posted by lotp 2008-08-13 00:00|| || Front Page|| [11126 views ] Top

#1 That drop represents 15% of the oil we pump in the US. We are making our choices.

Then there is the nutso forecast that offshore oil production could only produce an additional 200,000 barrels per day by 2030. That's equivalent to only a 4% increase in US production over 20 years.

They'll probably get that much increase out of North Dakota alone in less than five years.

Congress, get out of the way while our economy works all the different combinations of conservation, oil production, and alternative energy sources at once.

Beautiful pic, btw.

Posted by KBK 2008-08-13 00:27|| 2008-08-13 00:27|| Front Page Top

#2 The USA is the only country that restricts drilling in their uncontested territorial waters.

Posted by phil_b 2008-08-13 00:43|| 2008-08-13 00:43|| Front Page Top

#3 ION CNN this AM > Iff I heard it correctly, RUSSO-GEORGIAN CONFLICT may had stopped OVER ONE MILYUHN BARRELS??? OF OIL FROM REACHING US-WESTERN MARKETS VIA GEORGIA-BASED OIL PIPELINE, BUT DOES NOT APPEAR AT THIS TIME TO HAVE HAD ANY SERIOUS EFFECT ON OIL/GAS PRICES???

Posted by JosephMendiola 2008-08-13 01:21|| 2008-08-13 01:21|| Front Page Top

#4 Yep, Joe, no serious impact. Whether it is attributable to a sheer luck of a chain of coincidences or careful management behind scenes... or a combination of both thereof...

Posted by Spike Uniter 2008-08-13 03:29|| 2008-08-13 03:29|| Front Page Top

#5 That oil goes to Europe, JosephM. The U.S. gets most of its imports from Canada and Mexico, I believe.

Posted by trailing wife ">trailing wife 2008-08-13 05:34|| 2008-08-13 05:34|| Front Page Top

#6 Demand destruction is a sign of a deflationary recession.

Posted by Bright Pebbles 2008-08-13 06:41|| 2008-08-13 06:41|| Front Page Top

#7 Demand destruction for $50K 15 mpg 5000 lb super SUVs and trucks and demand creation for $25K 30 mpg sedans. Seems like a winner to me.

Posted by ed 2008-08-13 08:05|| 2008-08-13 08:05|| Front Page Top

#8 Does this mean I can deflate my tires now?

Posted by Besoeker 2008-08-13 08:13|| 2008-08-13 08:13|| Front Page Top

#9 This will have the effect of moving the US into negative growth of GHG emissions for 2008 - unless Al Gore buys more mansions.

Posted by mhw 2008-08-13 09:44|| 2008-08-13 09:44|| Front Page Top

#10 In the USA there is an unmet demand for $25K 35mpg trucks, while there are many such models on the market elsewhere in the world.

Posted by Anguper Hupomosing9418 2008-08-13 13:11|| 2008-08-13 13:11|| Front Page Top

#11 Amazing, PRICES IMPACT BEHAVIOR. MARKETS WORK.

More at eleven.

Posted by superstitiousGalitizianer 2008-08-13 13:17|| 2008-08-13 13:17|| Front Page Top

23:43 FOTSGreg
23:35 Correction
23:33 JosephMendiola
23:29 Correction
23:28 rjschwarz
23:23 Halliburton - Blogosphere Welcome Division
23:23 Jiggs Chiter5628
23:20 JosephMendiola
23:17 Correction
23:12 3dc
23:11 tipover
23:02 Steve White
22:56 Classical_Liberal
22:55 Correction
22:36 Halliburton - Asymmetrical Reply Division
22:35 crosspatch
22:33 McZoid
22:30 Hupusong Hatfield aka Broadhead6
22:30 Besoeker
22:23 Hupusong Hatfield aka Broadhead6
22:22 McZoid
22:21 USN,Ret.
22:18 lotp
22:18 Halliburton - Asymmetrical Reply Division