Well, let's see how much the increase in Saudi Arabia oil production decreases prices.

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Didn't Saudi say that they wouldn't increase their production when Bush went over there and asked them to?

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Set your destination with your heart, get there with your mind.

"The wisest men follow their own direction." - Euripides

They just announced that they were increasing it.

Saudis increase oil production - Jun. 22, 2008

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Okay, they are increasing by 255 million barrals a year (from 9 million a day to 9.7 million a day). What we also need to watch is if anyone else desides to slow down, like OPEC.

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Set your destination with your heart, get there with your mind.

"The wisest men follow their own direction." - Euripides

I say go for it. I could careless about what species are going to be effected. ( Saving the Planet..)

Next the OPEC issue.. is just that. Our biggest issue. Saudis producing 200k to 700k barrels a day isn't enough as the Chinese are going to suck it up, just like the Chinese are doing in Africa. The Chinese are making deals to buy Oil at 150 to 200 a barrel currently.. taking huge chucks of what is produced off the market.

So as time goes on we will have to outbid the Chinese. Something we can't do.

Now if we drill offshore and in ANWR and can only be sold in the US. Its our resource, its ours to use. You will see prices drop if we do that. If we put the oil on the global market, it won't lower prices.

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Pioneers are walking all around singing songs about Lenin and they should be shot for it.

Handlebars

"If you are looking for the guilty, you need only look into a mirror"- V

It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office.
H. L. Mencken

come on you know you wanna play football..

Beagán agus a rá go maith.

Economic Left/Right: 3.75
Social Libertarian/Authoritarian: -2.87

Selling it to just us (off shores and ANWR) would help us a lot and everyone else only a little, putting iit on the open market would help everyone some (more than if we sold it to ourselves, but not help us as much). Personally, I don't mind that. Rule 1 in a crsis, make sure that you are safe before helping others. That is what we have to do in this oil crsis, make sure that we are safe, then go help others.

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Set your destination with your heart, get there with your mind.

"The wisest men follow their own direction." - Euripides