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Energy independence won’t guarantee low prices

Fuel Fix -- On the presidential campaign trail, both Mitt Romney and Barack Obama have vowed to break the United States free of foreign oil, offering a pledge of at least North American “energy independence.”

In some ways, that’s an easy promise to make. No matter who resides in the White House for the next four years, the United States is already on a trajectory to derive much of its oil and all of its natural gas from within its own borders, thanks to technologies allowing energy companies to harvest the fossil fuels from dense rock formations.

Tied to global market

But abundant domestic supplies don’t guarantee a drop in the cost of energy. Oil prices are set on a world market, subject to a complex mix of factors outside the United States’ control. And even if net U.S. or North American oil impo

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Submitted Sep 25, 2012 By: skb69sa

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honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Sep 26, 2012 11:04:24 PM Ignore honda0105 Report Abuse how do you figure cheap gas, LG2011? Pig Oil would still sell you a drop of oil / petroleum products for amounts that warrant the term "liquid or black gold."
LiquidGold2011 Sophomore Author California Posts:109 Points:208,180 Joined:May 2011	Message Posted: Sep 26, 2012 9:26:01 PM Ignore LiquidGold2011 Report Abuse That's correct. OTOH, if the world economy stays in the crapper, cheap gas for all!
sparky808 Champion Author Honolulu Posts:3,144 Points:625,660 Joined:Sep 2011	Message Posted: Sep 26, 2012 12:35:17 PM Ignore sparky808 Report Abuse Thank you for posting.
myambro Champion Author Sacramento Posts:3,262 Points:1,076,085 Joined:Mar 2005	Message Posted: Sep 26, 2012 11:52:56 AM Ignore myambro Report Abuse I agree with "mikesr100."
mikesr100 Champion Author Sacramento Posts:4,035 Points:1,108,415 Joined:Apr 2008	Message Posted: Sep 26, 2012 10:31:44 AM Ignore mikesr100 Report Abuse It's the lack of refineries. Obummer and the EPA again!
remay Champion Author Houston Posts:7,078 Points:2,143,965 Joined:May 2006	Message Posted: Sep 26, 2012 7:49:26 AM Ignore remay Report Abuse It sure couldn't hurt to try, though.
jrs4125 Champion Author Indiana Posts:2,898 Points:619,445 Joined:Sep 2011	Message Posted: Sep 26, 2012 5:46:06 AM Ignore jrs4125 Report Abuse ok
tomok Champion Author Portland Posts:33,598 Points:2,373,210 Joined:Aug 2006	Message Posted: Sep 26, 2012 3:53:33 AM Ignore tomok Report Abuse Energy independence won’t guarantee low prices, not when Big Oil exports fuel to other countries that will pay more for it. People are driving less and using more fuel efficient vehicles and less fuel is being consumed domestically. Higher fuel prices at the pump makes those EV's and Inbreds look much better don't they! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their personal benefit. The price at the pump needs to go down to $2/gallon, $3, $3.50/gallon or $4.00 is Not the new low! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, has a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
tidalwave3 Champion Author Tallahassee Posts:1,368 Points:1,489,680 Joined:Jun 2008	Message Posted: Sep 26, 2012 2:35:03 AM Ignore tidalwave3 Report Abuse suzmar is correct ..."It sure wont hurt! It is a supply and demand problem, if there is more supply, it makes sense that prices will not be as volatile, not to mention we won't be sending our money to finance foreign extremist governments."
Tomeboy Champion Author Twin Cities Posts:3,910 Points:587,390 Joined:Apr 2009	Message Posted: Sep 25, 2012 11:37:21 PM Ignore Tomeboy Report Abuse Energy analysts say the optimistic forecasts ignore the "RAPID DECLINE" rates from hydraulically fractured wells. “You almost always find the biggest and best stuff in the beginning. The longer you are in the basin, the smaller the fields and the "MORE EXPENSIVE" it gets to produce,” said Art Berman, a Sugar Land energy consultant. “People are forgetting that.” Wells in the Bakken and Eagle Ford formations generally produce a lot of oil initially, but that starts "DROPPING FAST". Estimated decline rates... about 40 percent – which means just keeping production flat requires drilling hundreds of new wells each year. (That's why we are hearing the mantra... Drill Baby Drill) Berman suggests that the question isn’t whether the U.S. has enough oil to become energy independent, "BUT AT WHAT PRICE". (Drill Baby Drill = Consumer Will Pay Baby Pay)
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Sep 25, 2012 11:28:49 PM Ignore PrinceLH Report Abuse Of course not. Whatever happened to the idea of supply and demand? It's manipulate and screw!
dancygreen Champion Author Twin Cities Posts:2,188 Points:511,370 Joined:Sep 2011	Message Posted: Sep 25, 2012 11:28:08 PM Ignore dancygreen Report Abuse complex mix of factors my big white butt! the only factors are the greed and power addictions of policticians and corporations
jrsva Champion Author Virginia Posts:9,999 Points:1,639,950 Joined:Jan 2006	Message Posted: Sep 25, 2012 11:21:46 PM Ignore jrsva Report Abuse “Our current leader is all mouth and no action.” And the proposed replacement is better? Romney says he will lower income taxes by closing loopholes and removing deductions. When asked (repeatedly) which deductions, he says just elect me and I will negotiate with Congress to get it done. That plan has worked so well in the past . . . color me skeptical.
gaspumpin Champion Author Indiana Posts:1,792 Points:415,820 Joined:Apr 2012	Message Posted: Sep 25, 2012 11:14:03 PM Ignore gaspumpin Report Abuse Maybe energy independence won't create low prices, but it sure will help create JOBS!
rahcat Champion Author Grand Rapids Posts:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Sep 25, 2012 11:13:48 PM Ignore rahcat Report Abuse I would rather not be held hostage by some Middle East Sheik.
suzmar Champion Author Texas Posts:2,223 Points:896,935 Joined:Jun 2006	Message Posted: Sep 25, 2012 11:06:07 PM Ignore suzmar Report Abuse Well, it sure wont hurt! It is a supply and demand problem, if there is more supply, it makes sense that prices will not be as volatile, not to mention we won't be sending our money to finance foreign extremist governments.
Bud122CA Champion Author California Posts:7,606 Points:1,632,800 Joined:Jul 2008	Message Posted: Sep 25, 2012 11:04:49 PM Ignore Bud122CA Report Abuse Our current leader is all mouth and no action. He has proven this. Lets try some "CHANGE" and see if there is some improvement?
drewsworld Sophomore Author Los Angeles Posts:240 Points:19,605 Joined:Aug 2012	Message Posted: Sep 25, 2012 11:03:57 PM Ignore drewsworld Report Abuse Just saw on the news today how california has passed a law on autonomous vehicles. Its pretty cool they are driver less vehicles. I was riding next to one the other day. It will save us from vehicle accidents and speeding which will save money. They are designed by Google here in the Bay Area....
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Sep 25, 2012 11:00:41 PM Ignore frostyWV Report Abuse not with speculation jacking prices up and refineries playing games to keep their wallets fat.
carpenter4u Champion Author Virginia Posts:2,476 Points:638,020 Joined:Jul 2011	Message Posted: Sep 25, 2012 11:00:11 PM Ignore carpenter4u Report Abuse Obama and Romney have totally different ways of doing this.... I say Drill Here Drill now
car15 Rookie Author Fort Worth Posts:93 Points:656,210 Joined:Oct 2010	Message Posted: Sep 25, 2012 10:52:25 PM Ignore car15 Report Abuse Ok
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Sep 25, 2012 10:48:44 PM Ignore OGW Report Abuse The price will be driven by world oil prices regardless where the oil comes from.
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Sep 25, 2012 10:45:32 PM Ignore abcdMA Report Abuse we need to be independent
kcboy Champion Author Utah Posts:4,089 Points:1,533,170 Joined:Jun 2005	Message Posted: Sep 25, 2012 10:45:30 PM Ignore kcboy Report Abuse ok
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:44:21 PM Ignore Aviator_Rob Report Abuse hper said, "Just take US oil off the world market." Big Oil says, "No." Now, how do you intend to persuade them?
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:42:45 PM Ignore Aviator_Rob Report Abuse No guarantee that Romney will be good with the doing, either, @hank1326. Mitt still hasn't leveled with the American people about how he intends to fix America. He's long on platitudes but very short on specifics.
rasprout Champion Author Tacoma Posts:3,367 Points:1,243,935 Joined:Jun 2009	Message Posted: Sep 25, 2012 10:42:39 PM Ignore rasprout Report Abuse Should this surprise anyone?
zantor Veteran Author San Bernardino Posts:258 Points:53,025 Joined:Jul 2012	Message Posted: Sep 25, 2012 10:41:45 PM Ignore zantor Report Abuse oh
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:40:42 PM Ignore Aviator_Rob Report Abuse You may get your wish sooner than you think, @DEG. Brent crude from the North Sea is drying up at an alarming rate. Great Britain stopped being a net oil exporter years ago and Norway will follow them soon.
Holly123 Champion Author Charlotte Posts:3,337 Points:817,685 Joined:Dec 2010	Message Posted: Sep 25, 2012 10:40:28 PM Ignore Holly123 Report Abuse No, but it may help.
DriverofRed Champion Author Calgary Posts:2,308 Points:436,660 Joined:Dec 2011	Message Posted: Sep 25, 2012 10:39:55 PM Ignore DriverofRed Report Abuse k
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:38:18 PM Ignore Aviator_Rob Report Abuse I hear what you're saying, @mstearno, but Big Oil doesn't drill when prices are low. They only produce when they can make the most profit. Overproduction may guarantee supply but it also drives down the price of oil, since a glut of supply will outstrip demand.
ty58 Veteran Author Akron Posts:321 Points:505,700 Joined:Jun 2011	Message Posted: Sep 25, 2012 10:38:07 PM Ignore ty58 Report Abuse so we stop paying them for the oil and we start paying somebody else here in the us but that doesn't mean it will cost us less to drive
Chas58 Champion Author Detroit Posts:1,102 Points:311,220 Joined:Mar 2011	Message Posted: Sep 25, 2012 10:36:56 PM Ignore Chas58 Report Abuse k
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Sep 25, 2012 10:36:12 PM Ignore bonzoonfmb Report Abuse The supply always goes to the highest bidder. There will always be large swings in prices because that is how speculators make money.
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:34:47 PM Ignore Aviator_Rob Report Abuse Thank you, @defiancegasman, for making that statement perfectly. Our energy resorces should be solely for domestic use, not to fatten up Big Oil's bottom line. If they want to sell oil on the open market, they can drill for that oil outside the U.S. Domestic production should only be for domestic consumption.
Blue48 Champion Author Illinois Posts:7,445 Points:1,665,645 Joined:Feb 2007	Message Posted: Sep 25, 2012 10:34:44 PM Ignore Blue48 Report Abuse WE SHALL SEE!
gd83goldwinger Champion Author South Bend Posts:1,428 Points:519,230 Joined:May 2011	Message Posted: Sep 25, 2012 10:34:02 PM Ignore gd83goldwinger Report Abuse Ya, but it would help in not having big swings in costs to consumers.
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Sep 25, 2012 10:31:07 PM Ignore mstearno Report Abuse deela is correct but more energy stops huge swings when nuts like Iran pound their fist...they become less signifcant
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Sep 25, 2012 10:30:55 PM Ignore wayoung56 Report Abuse Hmmmmmm...
Double_Golden Champion Author San Francisco Posts:2,700 Points:633,085 Joined:Aug 2011	Message Posted: Sep 25, 2012 10:29:28 PM Ignore Double_Golden Report Abuse can we said now that our gov't is greed...
DeeLA Champion Author Los Angeles Posts:4,959 Points:1,392,930 Joined:Nov 2008	Message Posted: Sep 25, 2012 10:27:46 PM Ignore DeeLA Report Abuse As long as our forms of energy are produced and marketed by private enterprise, "the sale goes to the highest bidder". If the natural resource is purchased at a high price, the end product will be also be high to the consumer. Econ. 101
joeschmo12 Champion Author New York Posts:1,108 Points:326,500 Joined:Mar 2012	Message Posted: Sep 25, 2012 10:27:14 PM Ignore joeschmo12 Report Abuse True that to the fat cats
drz614 Champion Author Harrisburg Posts:2,441 Points:626,085 Joined:Aug 2011	Message Posted: Sep 25, 2012 10:26:52 PM Ignore drz614 Report Abuse ok
radiorumor Champion Author Texas Posts:2,951 Points:781,540 Joined:Feb 2011	Message Posted: Sep 25, 2012 10:25:54 PM Ignore radiorumor Report Abuse When you are campaigning you can promise anything. Getting it done is a different world.
Beaveronparade Champion Author Hartford Posts:2,164 Points:660,255 Joined:Mar 2011	Message Posted: Sep 25, 2012 10:25:47 PM Ignore Beaveronparade Report Abuse There are no guarantees in life but I think everyone would agree that Independance is a step in the right direction.
Blue48 Champion Author Illinois Posts:7,445 Points:1,665,645 Joined:Feb 2007	Message Posted: Sep 25, 2012 10:22:44 PM Ignore Blue48 Report Abuse WE SHALL SEE!
SavALot Champion Author Virginia Beach Posts:8,618 Points:1,739,185 Joined:Apr 2005	Message Posted: Sep 25, 2012 10:18:56 PM Ignore SavALot Report Abuse Nothing ever guarantees low prices; that's common knowledge
defiancegasman Champion Author Ohio Posts:7,099 Points:1,327,520 Joined:May 2006	Message Posted: Sep 25, 2012 10:17:25 PM Ignore defiancegasman Report Abuse US produced OIL is a NATIONAL RESOURCE and should be used by the USA, for the USA, just like all the OTHER OIL PRODUCING NATIONS DO!! Profits from US OIL should go to the US, NOT to GIANT OIL COMPANIES. They should be forced to BUY the oil from the USA at MARKET PRICES, NOT JUST PAY A ROYALTY SOME OF THE TIME!!! All the money from the US OIL should be used to help ALL US CITIZENS by either lowering the cost of ALL ENERGY in the USA or be used to LOWER THE NATIONAL DEBT!!
skyking19 Champion Author Little Rock Posts:2,021 Points:1,722,740 Joined:Jan 2007	Message Posted: Sep 25, 2012 10:15:01 PM Ignore skyking19 Report Abuse Global economy will have an impact as well.