Letter to the editor:

More drilling is part of a strategy that works

Tony Amodeo, North Las Vegas

Wed, Aug 13, 2008 (2:04 a.m.)

I do not understand how anyone can say that drilling for offshore oil and oil elsewhere will not affect our situation. I also disagree when it is said it will not have an effect for years.

Let’s turn back the clock about 35 years. The oil gangsters of OPEC decided to cut the production of crude oil and drove up the price. The United States then decided to allocate several billion dollars to exploration for oil and for alternative energies. When the oil gangsters realized the United States was serious about this, they opened up the oil faucets and drove the price of crude oil back down, and in the process made that several-billion-dollar investment in new oil and energy sources unattractive.

Today we’re in the same boat because of the decision then not to continue forward with that investment. I believe that if the oil gangsters of today once again see we are serious about drilling and alternative energy development, they will drive the oil price down again. This will occur even with China and India in the marketplace. It also will force the greedy speculators, who are as much responsible as the oil gangsters, to back off.

Just look what has happened to crude oil prices since the talk about more offshore oil exploration. Crude has plummeted from $148 to $112 a barrel. We must do everything and anything we can to alleviate the stranglehold the oil gangsters have on the world’s economy.

Discussion: 11 comments so far…

By mschaffer

8/13/08 at 6:33 a.m.

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I know it is impossible for Tony Amodeo or others like him to understand this but even Forbes can understand the real reason for the fall in oil prices:
http://www.forbes.com/reuters/feeds/reut...
Look at the first two paragraphs:
"Oil fell to $113 a barrel Tuesday after government data showed the steepest decline in U.S. crude demand in 26 years, adding to mounting concerns about global consumption.

U.S. oil demand during the first half of 2008 fell by an average 800,000 barrels per day (bpd) compared to the same period a year ago, the biggest volume decline since 1982, the Energy Information Administration reported."
By jfnance32

8/13/08 at 8:06 a.m.

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They are so proud that they will say anything or do anything to stop new offshore drilling.

We have trillions of dollars of oil and gas.

Instead of using that, they want the US to send to other countries trillions of cash. Many of those countries have said they want the USA destoryed.

We got the message: "Democrats say Hell No to new offshore drilling."
By Future2012

8/13/08 at 8:24 a.m.

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Reid and Pelosi are wrong to put the annual moratorium on new oil drilling into the FY009 Continuing Resolution. Why are they not passing the normal appropriation bills before the new fiscal year? There will be no shutdown if they vote on drilling before October. Why are Reid and Pelosi not in session? This was an annual moratorium precisely to allow the change that is needed now.

I do not want $700 billion in petro dollars going to foreign countries every year. This causes millions of lost jobs, a devalued dollar, and energy insecurity.

Reid and Pelosi need to stop complaining and act now.
By ksand99

8/13/08 at 8:56 a.m.

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That is funny. Talk about exploration is not why prices have lowered.

These people do not understand cause and effect. mschaffer is correct!

http://africa.reuters.com/business/news/...
http://www.thestreet.com/s/oil-sinks-on-...
http://www.boston.com/business/markets/a...

"Oil prices fell again yesterday, dampened by a stronger US dollar and more evidence that developed countries such as the United States are cutting back on their energy use."

Demand in the US dropped 800,000 barrels, more than it's dropped since 1982.

If 800,000 barrels is all we need to save to cut the price of oil, then we should definitely look into raising the CAFE standards again. I'm glad Barack Obama wants to do that.

John McCain said he does not want to raise CAFE standards. He thinks the market will react. He doesn't know Detroit very well! It takes 3 years from design to product in Detroit, the automakers can't push out a higher MPG car in a few weeks to react to gas prices.

Cars are getting better miles per gallon than before, and they're safer at the same time!

I'm glad Barack Obama has recognized how crucial conservation is to the price of oil and our national security.

What this author does not mention, though, is the threat that OPEC could reduce their output to accomodate any increase in pumping that we do, meaning there won't be an increase in supply, just an increase in domestic drilling.

And jfnance32 wants to give the oil companies MORE tax breaks? That's ridiculous! That's one of the reasons the republicans wouldn't vote to help us last month! They refused to remove the oil company tax breaks!

Republicans care more about the health and well-being of the oil companies than they do about us.

ExxonJohn and his oil company cronies Jon Porter and Dean Heller will learn a lesson in November!
By JohnF

8/13/08 at 9 a.m.

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"I do not want $700 billion in petro dollars going to foreign countries every year."

THEN STOP USING OIL.

Ask John McCain why he hasn't shown up for any of the votes in the Senate to extend the tax credits for the solar and wind power industries this year. There have been EIGHT of them. For one he was in his office and couldn't be persuaded to go to the Senate floor to vote! He has a lot of nerve putting those windmills in his commercials.
By Future2012

8/13/08 at 10:31 a.m.

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Until we can transition to a hydrogen fuel cell economy we need oil.

By drilling $700 billion our own domestic oil we can feed our own people rather than feeding foreign terrorist.

Drilling here with good environmental controls is better than the earth eco system damage caused in foreign counties without U.S. Environmental Protection laws.

Why are we outsourcing our energy security?
By jfnance32

8/13/08 at 10:50 a.m.

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It is this simple.

The Democrats are against new offshore drilling.
By AgMallard

8/13/08 at 12:36 p.m.

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Buy most accounts there is no untapped fields that would come close to the production levels in the middle east and Russia. It's spit in the ocean fellows. The perceived decrease in demand is the market force at work here (something you market justice disciples surely get). It's not the idle threat of new drilling. ksand is correct, less fule use = lower fule costs.
By jfnance32

8/13/08 at 1:20 p.m.

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The Democrats are against new offshore drilling.
By thebs

8/13/08 at 1:25 p.m.

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Maybe you've been hiding under a rock, but I've seen many Democrats come out in favor of more off-shore, including Dina Titus.

Even Pelosi said she was going to let them vote on increased off-shore.

So yeah, it's "simple" if you ignore reality, Nance.
By jfnance32

8/14/08 at 12:35 a.m.

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Wow...the Democrats are now in favor of offshore drilling!!!!!!!!

In two weeks they are back in session.

Since there are so many Democrats that are in favor then there has to be an majority in both the Senate and House for offshore drilling.

It will pass!!!!!!!!