27 Responses to “How to Ease Oil Prices”

1. Comment by Mary

   Jul 3rd, 2008 at 3:02 pm

   I really enjoy reading your blogs. They are very interesting, however because I am deaf I have great difficulty with videos and need closed captions for them. Please let me know how to get closed captions for your videos. Thanks.

   Mary

2. Comment by jeannie lambert

   Jul 3rd, 2008 at 4:36 pm

   Drill Drill Drill build a refinery or 2 but stop talking and start doing!!!!!!!!!!!!

3. Comment by Dana Swan

   Jul 4th, 2008 at 11:58 am

   Alexis, I enjoyed your research.
   One piece of information that KNX news radio in L.A. anchor Frank Lottex brought up was that a group of institusional bankers have purchased underground oil tanks and are filling them with crude oil. This could have the effect of removing any surplus oil from the market and allow them to make $$ on the futures margins on theoil price increases they create. Also, they can sell the oil in the future at the higher price. Please research this and see if there is any truth to this… Thank you, Dana

4. Comment by Bruce Bullock

   Jul 4th, 2008 at 1:07 pm

   Dr. Moors comments are spot on and succinctly capture the current state of world oil markets. However, those comments on the panel that minimize the effects of conservation and efficiency ignore the fact that the real impact of those efforts will be on total costs, not necessarily world prices. in other words, if you buy a fuel efficient car, your monthly costs will go down because you use less, not because the conservation effects necessarily impact the price. In addition to supply side measures, Congress should provide incentives for ordinary consumers to invest in more fuel efficient cars, such as a tax credit for purchasing a high mileage car in lieu of the current hybrid credit which is now providing very little assistance on popular models.

5. Comment by Dave

   Jul 4th, 2008 at 1:23 pm

   making the national speed limit 55 will help, our fuel consumption would decrease. along with drilling wherever we can including the ANWR and the ocean with the technology that these oil companies have nobody would even know they have been there. and build some more refineries.

6. Comment by Albe Brown

   Jul 4th, 2008 at 4:44 pm

   The democrats don’t want drilling for the simple reason they are highly invested in oil and that would hurt their bottom line. They are not serving the Americans in this regard. It’s all about them. I say get rid of your oil stocks and watch prices come down.

7. Comment by chuck

   Jul 6th, 2008 at 2:18 am

   I was in florida last week for vacation couldn’t catch Fox Biz but I still kept up with the news. I’m in favor of drilling as well. In fact NewT Gringrich has gathered over 1.2 billion signatures to force the DRILL NOTHING CONGRESS to vote.
   Here in Vicksburg Ms Mayor Leyens raised nautral gas rates once again. This was in the Vicksburg Post a few weeks ago. The mayor in my opioin isn’t giving his constituents a break on issues like this. In fact Alderman Mike Mayfield wasn’t present for the vote. But get this: since he has been raising nautral gas rates for a second or third time,his water and gas has been losing money. He believes that thermostasts are going to make locals think green. Think again. And most of his constutients are poor African Americans. Question is raising nautral gas rates in summmer time a big a waste? Yes. Especially with Birmingham,Ala cutting back on work days to save gas. But to hurt his own consituents and fixed income senior citixens honeslty isn’t the right way to do it.

8. Comment by John Pring

   Jul 6th, 2008 at 9:07 am

   Let’s make the basic assumption that everyone is serious about improving our energy security and lowering the general price of all energy forms … if this is truly the case, then nothing is “off the table”. We need to exploit all rational and viable sources of energy. Conservation is a paramount, but will mainly occur of its own accord. Bio fuels are a must as they provide the only real competition to petroleum based transportation fuels … we must have competition in this sector. All baseload electrical production should move towards nuclear. It is just stupid to use fossil fuels for production of electricity (with the exception of peaking plants).

   Drilling “everywhere” is mandatory. This market is rumor/fear driven … its certainly not all a matter of simple “supply and demand” as many would have us believe. If we send a strong signal that we are serious about breaking OPEC’s strangle hold, then the market’s would respond positively.

   Time to commit and take action, but I fear many left leaning politicans have a hidden agenda.

9. Comment by Dave Swiderski - Penn State University

   Jul 7th, 2008 at 7:03 am

   As long as Harry Reid and the “no-drill democrats” are in charge, NOTHING is going to change unless the American people start standing up and writing these politicans andstart putting pressure on them. The only way these people are going to come around and listen is when their jobs are threatened. This upcoming election is a no brainer - if you want $2 a gallon gasoline, vote out the people who are against progress and drilling. It’s as simple as that!!!

   Dave Swiderski
   Penn State University
   State College, PA

10. Comment by laqinta

    Jul 7th, 2008 at 8:55 am

    Impose 55MPH on all roads. We will save about 18% now.

11. Comment by Mike Boldt

    Jul 7th, 2008 at 11:50 am

    To laqinta:
    If you desire to drive 55 M.P.H and save 18% please do so. We will not stop you. Please notice that we are not seeking to control your life. Also, you will need to observe current driving laws and that means driving in the right hand lane. The left lane is for passing traffic.

    There are many of us that disagree with you and that is our right. Again, we do not seek to impose controls on “your” life. In return we ask that you do not attempt to force controls on our lives through the government.

    Have a great day,
    Mike

12. Comment by Dave

    Jul 7th, 2008 at 2:33 pm

    Well said Mike! People will naturally start conserving more as prices continue to increase, and we don’t need a government-imposed 55 M.P.H speed limit to do that.

13. Comment by chuck

    Jul 9th, 2008 at 9:24 am

    This morning I was watching Bloomberg Televison’s Morning Call and James Hardesty was the guest. Now I expect some of you will disagree here. Now there’s talk that oil commidiies market is in a bubble. Now Hardesty was the one who pointed this out. I’ve heard of this account before since the oil has been high recently. High high does oil have to climb for the commdidty bubble to burst? Already gold is showing decline. But an oil market bubble? Has this been explored as a news item? I would love Eric Bolling’s account on this theory.
    But think: is oil in a bubble like real estate is now in?

14. Comment by Dan from Navarre

    Jul 9th, 2008 at 10:10 am

    Here is the evil comment, I live in Florida and favor drilling for oil and natural gas off the coast. I am also for folks to make the effort and conserve as well. That is, there is no reason for 70 mile commutes to work, if so quit complaining. Also I am for evening the investment field between stocks and commodities. To invest in commodities is ridiculously low. If I had the money why would I put up $500,000 to buy $1,000,000 worth of stock when I could put up $40,000 and bet on oil.

15. Comment by chuck

    Jul 9th, 2008 at 2:43 pm

    Hey Dan I’m in favor of drilling. Gov Barbour of Ms has hopped on on board the drill bandwagon too here in Mississippi. You’re right about investing oil at this point too. Now here’s the real evil comment I read: Speaker No Drill Nancy Pelosi wants to open the national oil reserves to ease gas prices. For a boomer her solution is so weak and her congress has sank to 9% in public opioin.

16. Comment by Warren

    Jul 10th, 2008 at 8:05 am

    We also need to start constructing new coal-fired power plants. Coal power plant technology has improved greatly so they’re not the smog monsters that the environmental wackos try to make them out to be. Those wackos have blocked new construction, forcing us to turn to natural gas powered plants at the very time when natural gas prices are soaring. NOT GOOD. The environmental wackos and their friends in the Democrat Party are destroying this country.

17. Comment by chuck

    Jul 10th, 2008 at 2:07 pm

    My idea is this. Last night I was watching Happy Hour and the guest I can’t recall his name,whose from the Trend Insitute made some remarkable predictions based on today’s headline. For now drilling for oil should apply in the short term to ease prices. But explore alternatives to oil energy. His prediction since so many are pushed against the wall due finances the chairman of the Trends Institute predicts green inovation to take place. Of course right now alternate energies are expensive but he pointed out how rescourceful we are. But his more dire prediction is that the economy is headed for a depression. He wasn’t joking either. But I found the green predictions interesting. Like get this a conversation engineer. That’s an engineer that explores for new forms of energy. Of course wind and solor are a long way off.
    Now here’s the wrong way of trying to make people think green and conserve. Mayor Leyens here in Vicksburg Ms has raised nautral gas rates and he stated to the local paper that they would think twice of turning on the thermostat. Now this isn’t the proper way of approaching green. The mayor hasn’t shown leadership in this area like not introducing a four day work week like Madison,Ridgeland have now done to save money. Now his gas and water department are losing money. So how does one recoup the losses? His fatal green mistake is that he hasn’t come out with a green policy for the city where money could be saved.

18. Comment by jack

    Jul 10th, 2008 at 2:34 pm

    yes we need to act on the 55 mph speed. it will save GAS and LIVES. proven fact. i have a 2007 jeep srt8. worse gas hog 425hp. when doing 70 mph it get 12 mpg. when i go 55-57 mph it gets 19.5 mpg. at that rate we won’t need saudi oil if we get 20% from them the 55 mph will save that. get it done now. also watch all funds get out of the futures fast.

19. Comment by chuck

    Jul 11th, 2008 at 9:47 am

    Here’s an example case how a business here closed.
    Corn Dog 7 was a lonng time tenant in Pemberton Mall. I believe for almost twenty years to be exact. I never dined in it but it was a common sight in the small Pemberton Mall not to mention Picaddally Circus Cafeteria which is now closed. Now two simple things let to Corn Dog 7 going out businesse. One was high rent which CBL charged to its tenants. Also CBL gets a cut of store profits too. Now the other factor which lead to to closing of Corn Dog 7 was the owner pointed out was high fuel costs. Combined those elements that’s enough to close any small restraunt. Now the only Restraunt surviving in the old decaying Mall is Garfield’s. I heard too they have fallen on bad times but no rumors of them closing. Now the other victim in the mall was the Cookie Shop which closed last year in fact. Perhaps due to high rent which some of the tenants couldn’t pay. And high fuel costs. But some of the real complaints against CBL Associates is they try to bully thier tenants to remain open on Sunday and that doesn’t fly to well with some.

20. Comment by JJ Lamont

    Jul 11th, 2008 at 6:21 pm

    Jack, you have a 425hp Jeep SRT8 and are in favor of a 55mph national speed limit? HAAA!!!

21. Comment by Janeen

    Jul 12th, 2008 at 7:17 am

    I am totally FOR drilling in the US, no matter what trees or animals it disturbs. Ocean drilling is being done by other countries, what possible reason is there for the US to NOT drill in the ocean. We have all been made aware of the fact that very little damage will be done to the terraine and animals seem to acclimate quite easily to most situations. It is disturbing to think that we could have been helping to support our own oil and gasoline businesses all of these years. To have given in to the “need to control groups” thinking that to do the drilling (how does it hurt the ocean???) will damage trees or bother animals, is so stupid it is with a bit of wonder to me that the powers that be have cowed under to these wacko’s. I am also for lowering the speed limits AND ENFORCING them. The speed limits were lowered some years ago when they had the questionable “oil shortage” crisis and it not only saved gas, but it saved lives as well. It is pretty scary out on the interstates and I,for one, simply try to avoid traveling any more because of the crazy speed freaks who don’t care who they kill. Supporting foreign oil suppliers seems pretty ridiculous when our country has the oil and the capability to produce it. The more gasoline that we purchase, means the more traveling we will do, and the more purchases will be made in the places where we visit, which will boost the economy, provide jobs and generally help our wonderful nation. Wake up people !!!!!

22. Comment by JD

    Jul 12th, 2008 at 10:41 am

    They are now thinking of lowering the speed limit to 55 they must have brain damage to think you will save fuel. If you drive 200 miles at 55 mph it will take about 4 hrs,if you drive at 70 mph it will take 3 hours get out the calculator you engine at 55 will run for an hour longer which will burn the equal amount or more at 55 rather than at 70. Do these polititions have degree’s to run this country???!!!! And the person who has the the jeep the engine in that vehical is the bigest gas hog out there get rid of it.

23. Comment by JD

    Jul 12th, 2008 at 11:03 am

    THE WAY TO EASE OIL IS TO START DRILLING NOW AND THE democrates are doing nothing I am amazed that we actally voted these people in office what do they do for US nothing because they are well off to begin with and they can afford what most people can’t today…you know (food,gas,insurance housing should I go on!!!). We need to show the world that we can become self reliaint by to starting drilling and than prices will come down than we can use our on oil instead off sending our money to the middle east we keep spending money to protect the oil over there why not use it here for our own oil??? This counrty is going to the dogs.And for alternatives I’m for it but it will take over 15 years to bleed off of oil once we come up with and alternative fuel you can expect people to just park there cars that use gas tommorrow or next year.START DRILLING BEFORE YOU BANKRUPT THE NATION DEMOCRATES!!!!

24. Comment by DeWayne

    Jul 12th, 2008 at 1:44 pm

    I have to laugh when I read all the comments suggesting a mandated 55mph speed limit. To the people who advocate this, I have a question: Do you currently limit yourself to 55 or are you waiting for the government to tell you? It is the ultimate in hypocrisy to call for a 55mph limit while you still drive 70.

    The same goes for taxes. How many people calling for higher income taxes actually send the IRS *more* than they are ‘required’ to?

    Nothing will change in this country until those who ‘talk the talk’ start ‘walking the walk’. Anything else is hypocritical.

25. Comment by chuck

    Jul 15th, 2008 at 9:46 am

    As of yesterday the retail gas price has reached 4.04 courtesty of the price leader Kangeroo. At the sametime the new Kroger is going up real fast and is schelduled to open in the fall. Better news: the Kroger gas island is now up. The gas pumps aren’t yet but it appears to be real soon. Now using thier lease with Wal-Mart the Warings prevented Super Walmart from putting in gas pumps. It’s time for such small narrow,small town arrogence toward real competition to be question. Especially where this port of Vicksburg Ms has an oil pipeline. Some of the locals are questioning the fact how thier retail gas isn’t cheaper becouse it comes from the river. Listen Greenville,Ms has a pipeline for diesal and thier gas is cheaper. It’s time for the Warings and thier corporate policies toward Kroger and Super Walmart to be questioned. What have they gained? Nothing. Why not ask Pantry Inc about Waring Oil LLC and see if they are thier local gas supplier and see for how much? Doesn’t hurt to raise questions on this issue.
    As for drilling off the coast,go for it.

26. Comment by peggy

    Jul 16th, 2008 at 10:52 am

    here we are selling are oil to other countries, while congress complains about not having enough, please see whats happening, we are bankrupting are selves,buy allowing oil from usa to ship out,just like most things,, keep oil here, set a price on the stuff,, we dont import much oil from other countries,stop all imports and exports until the price goes down,, we have more than enough oil in the us to get us through,, and allow more drilling ,most people here are saying somebody here is lining their pockets,at the expence of the citizens of the USA and we the citizens of the United States are allowing this to happen, congress is allowing it to happen.they could stop the oil export, and keep the American oil off of the trade market,

27. Comment by chuck

    Jul 17th, 2008 at 11:30 am

    I was on the Drudge Report and Speaker Nacncy “NO DRILL” Pelosi remained steadfast against drilling. For a leader she’s out touch with the nation,her own liberals who want drilling and this action of hers isn’t going to get her anywhere. If she was in the private sector I believe she would be fired or routed to back of the office becouse of her statements to the International Herald Tribune; already Floriduians are mad at her for telling them what to do. Nancy should look at her own backyard and her own constutients which she’s hurting. Her congress is going sink lower for her own inaction and it could be her downfall.