Thursday, March 26, 2009

19 MMBPD

The United States has dropped from 21 million barrels of oil consumed per day in 2005, 2006, and 2007, to 19 million barrels per day in 2008 and today. A ten percent drop. That really isn't a significant drop in consumption. We are still burning oil at the rate we did in the earlier part of this decade, while our domestic production is continuing to drop.

Tell me something. Is there any Republican out there still chanting Drill! Baby! Drill!? No? Now, why would that be, huh? How come these cretins aren't now trying to take a $50 barrel down to $10...to spur "economic recovery?" How come they aren't crying for all the new jobs this new drilling would create?

I believe that at $50 a barrel, not a single drop of ANWRian oil could possibly be extracted, because the lifting cost is higher than the going price. If ever there was a time to start investing in our domestic oil infrastructure, it'd be now, to stem higher prices a decade from now. But no. We live in a crisis and complacency Merika. Oil is in a complacent place right now.

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