Estimated my fuel costs for the season...

[beamie]

Originally Posted by Mr. Sandman

Time to drill in Alaska.
This is

Unfortunately drilling in Alaska won't change the price of a barrel of fuel. Allot of Alaskan oil goes to Japan, eliminating Alaska overseas export again won't change the price per barrel. It is all supply and demand......that big s#^&#^&#^&#^&#^&g sound from China modernizing is the main reason for the high price. China is more of a reason for high prices than the GWOT.

Everyday they drill new small oil wells in Texas, this doesn't change the price. They just drill because the price is so good. If the price dropped to $50 a barrel they would shutdown allot of wells for they aren't profitable enough.

[RIROCKHOUND]

Originally Posted by beamie

If the price dropped to $50 a barrel they would shutdown allot of wells for they aren't profitable enough.

Very true.
One thing it is doing is making them drill deeper, less profitable wells, because right now they are profitable. Recently the soon to retire Shell president, when asked about Alaska, said 'Screw ANWAR, we want to drill offshore on the North Slope' That is a decent enough source, but I think the choke point still lies at the refinery. Right now they can drill it, they can't refine it...