I am not an expert, only opinionated. Some sources say that there is currently a ‘bubble’ caused by vast speculation. Other sources say that there is no significant speculation and only a mismatch of supply and demand. I do not know the answer, but bringing on some of our own resources as rapidly as we can seems sensible to me.

“Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day. For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher—2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20). Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant.”

I am all for using our natural resources, but we should be looking elsewhere, this ain’t a short-term solution… unless you call “insignificant” effects on prices in 2030 a short-term solution.

Read the whole report below:
http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr.html

The fact that we were getting tremendously excited over less than a degree C. in a hundred years, that the only source of predictions of catastrophe came from computer programs, and that our most experienced and skilled meteorologists can’t predict the weather with any accuracy for next weekend should have provided a very large note of caution.

Enter Al Gore who, needing something to compensate for a lost election, decided to save the world. Environmental groups, joined after the fall of the Berlin wall by Marxist greenies saw a great opportunity to restrain the US economy and cripple Capitalism which they hated. But the US looked at Kyoto and what it would do to our economy and said “no way”. Now they’re back again with a plan for government take-over of a vast part of the economy.

It’s hard to tell, but the current push may be because they know evidence that CO2 is detrimental is vanishing. The earth has not warmed for a decade, and is in fact cooling. Oops! It has cooled enough to wipe out the warming of the last century. The earth is always warming and cooling — it is natural, and complicated. CO2 is NOT a cause of warming, but increases in CO2 follow warming. And the most important factor in warming and cooling seems to be the actions of the sun.

The idea that Congress can control nature and fix the climate is something that should occur only to a Democrat. So far they’ve managed to raise the price of gas, the cost of food and cause food riots all over the world. Now they’re attempting to ruin the economy and threaten famine across the developing world.

Google cap-and-trade, and study up.

That said, it really isn’t very clear to what extent politicians actually believe that ‘global warming’ is a problem. Even if you don’t follow the science, it should be a little bit of a stretch to get excited over less than one degree F. of warming over one hundred years.

For those who follow the science, the realization that CO2 is NOT the cause of any warming, and that it stopped warming 10 years ago, ought to suggest that stopping emissions of CO2 should not be a national priority.

It should certainly not be a priority if you understand that CO2 is NOT a pollutant, and benefits us all for it makes plants grow more and better survive adverse conditions.
LET CONGRESS KNOW HOW YOU FEEL! They need to know.

There are violent protests in England and Europe, and with Congress announcing that they are going to sue OPEC perhaps the Saudis have opted for a “don’t blame me” position. We’ll see.

People need to get a brain and stop thinking like sheep. We can worry about the ecology, but lets fix the economy first before I become an old man and die.