Lies and Damned Lies
The Lie: We can't drill our way out of this because it takes ten years to bring a well on line.
What these political hacks and envirowacks either won't tell you or don't know, is that oil is traded as far out as 2016 WITH A LOT OF VOLUME. I won't go into all the bullshit about the ins and outs of oil futures except to say that the major firms and funds hedge all the way out to 2016 (quotes at left). These liars don't want to drill and the reporters are too lazy to research. Click to enlarge and note that the bottom quote (CLZ6) is for December 2016. This means an oil well started NOW will show action right now. The out months are a very strong influence on current prices. A really good short primer on the oil futures is HERE.
2 comments:
Heard a guy on the radio, lisitng all the things pwoplw have done in ten years...go to the moon, invent the airplane, etc. Teh word "can't" really means "don't want to".
10yrs to produce is total bullshit. It took four years, from 1973 to 77, to build the 768-mi pipeline and the whole prudhoe bay infrastructure. ANWR is only 60 miles from pump station one, I bet some oil could be flowing in less than 2 yrs.
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