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Re: Uh oh....and you thought gas prices were bad last wee...


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Posted by Alex C. on March 10, 2011 at 19:45:26 from (76.164.99.160):

In Reply to: Re: Uh oh....and you thought gas prices were bad last wee... posted by T.D.From Iowa on March 10, 2011 at 15:15:46:

We would if we were aloud to. I live, breath and sleep oil industry(what my family's main income is but its not all good right now, own only 3 wells) and here's why we can't drill our own oil; something to the tune of 85%-95% of our domestic oil is locked up in no drill zones( off the cost of California and the east cost or under nature reserve lands, like Alaska.)or the land owner also owns the minerals and is afraid to drill due to his/her fear of blow outs cause of the mass media hysterics event though the reward far out ways the risk. If we were to tap our domestic supply, we would be selling oil to the Saudi's, but as usual politics has most of it locked up. As for the rising prices, its the speculators, now I'm not sure if there just trying to make as much money as possible or if there's a underling cause that we just don't know about but they need to be slowed down if not stopped before all he!! brakes lose.
Alex


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