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[gabovski]

But i think it's about time to ride on something else than oil. Nothing bad about less polution, don't you think?

[musesuseus]

It is what it is-- we need 2 conserve energy and build a green economy that won't blow out, collapse or pollute us all to hell: the writing's on the wall: Gulf Coast wildlife, fishing and tourism gone to hell, climate "wierding" getting wierder, more kids with asthma, oceans acidifying, oil-spill and blow-out "dead-zones"-- not to mention the blood spilled for oil Gen. Anderson has witnessed. if we care about our kids' future, we need senate to invest in sustainable energy now.

[the82spartans]

@robhoneycutt -- We have not reached our self serving interests of oil production nor refinement, nor research in fossil or 'alternative' fuels.

Right now... it is what is is. We need gasoline and diesel fuel. No leadership in Washington DC so now what? Blame game or facts on the ground? I vote facts.

[the82spartans]

@robhoneycutt -- Why are there 3 grades of fuel for gasoline and name some current gas additives that are not harmful.

[the82spartans]

@robhoneycutt - Yes the oil companies take the risk and the (tax) reward on the revenue side. The supply side? The Fed Gov'ment has been taxing the cr*p out of petrol-chemicals & the bureaucracy is worse.

Why does exploration cost so much? Because of US Congress made it so. Who benefits from big oil? Many of the shareholders as they make bank on it including pension funds, so what's the beef?

One spill is too many... but look at history & history of deep water drilling. Excellent.

[robhoneycutt]

@the82spartans Don't forget that Canada, our number one source of oil, is projected to his peak production in the next 5 to 10 years according to Canada's National Energy Board. We hit peak oil in the early 1970's.

[robhoneycutt]

@the82spartans Personally, I hope we never build another new refinery. I want our nation OFF of oil and onto clean alternatives ASAP.

[robhoneycutt]

@the82spartans Actually, I would counter that the oil industry has benefited greatly from the government's involvement. They get huge tax breaks that new energy sources don't currently get. But I'm not of the opinion that we can trust the free market the way oil companies want to exercise it. We also need protection for the citizens of our fine nation. I'm not for having gulf oil spills all over the country on an ongoing basis.

[robhoneycutt]

@the82spartans Yes. We import about 17% of our oil from Canada according to the USEIA.

[the82spartans]

@robhoneycutt -- Yes, I figured as much. With today's technology. Remember that 'sweet crude' takes less refinement.

Shale or sand complicates the issue but in end it is a viable source of oil... the free market could make it more valuable if the Fed got out of the way. Never, and I mean never underestimate the entrepreneur or free enterprise.

Again, not ONE new oil refinery in over 40 years. What? Who is scared of innovation and why?

[robhoneycutt]

@the82spartans Source? USGS.

At one point it was estimated at 167 bbl. then the USGS report put it at about 3 bbl "because the Bakken shale has generally low porosity and low permeability, making the oil difficult to extract."

I believe the USGS number stands as the current estimate.