off shore drillling

[Tractorat]

I think I just heard that congress is going to let the ban on off shore drilling expire.



Now we'll see if drilling truly will lower the cost of diesel.

 

[RGardner]

Off shore drilling will not help in the actual production of oil for quit some time. But it could help in the psychology of the market

 

[SNiebaum]

Off shore drilling will not help in the actual production of oil for quit some time. But it could help in the psychology of the market

I will definitely help with the psychology of the market but I have to wonder how many oil companies will actually apply for the requisite permits and such when I'm sure Congress(Pelosi and Reid) plans on reinstating the ban after the new President is sworn in.

 

[Tractorat]

Yes, I agree. Offshore drilling wont produce any oil for a while. But I think the jury is out on how long that will be. Some people say years, others say months. And both groups are "experts".



What it will help is future oil supply. So, in 10 years, when Saudi Arabia, Venezuela, etc commit acts of war against us again, we wont have to say "shoulha' drilled back in '09