yoshana, the 30 year estimate is based on rationing and widespread use of nuclear energy. Further, I would not take the number published on the DOE website as gospel.
However, no one is suggesting that we would stop buying oil on the open market. That is not necessary to significantly affect price. Consider that the last time we began to fill the SPR in 1994, that action raise the price of oil $0.28, the fill rate was set at 100,000 barrels per day. Therefore, what if we began to add 100,000 barrels per day. We can easily sustain that for ten years or more at the DOE published capacity.
Quote:
|
Originally Posted by yoshana
"I love your faith in our contry. I love you commitment to the US, and your dedication to defend it.
But I also see Iraq as 300,000,000,000/20,000,000= 15,000 Days of Oil for the US
(Theres the 41 years we wanted, right?)
Bought at $0.66/Barrel plus the cost of actually drilling it.
Iraq is the new US oil reserve.
|
Thanks, I think that is called a left-handed complement. I Think I said this before we get the vast majority of our oil from Canada, Mexico and Venezuela. If I use your assumption (not a good assumption by the way) that we would consume every barrel produced by Iraq then we could have saved $0.66 a barrel. It would have been far cheaper to get the UN to lift sanctions on Saddam and just buy it on the open market. If our motivation was the oil that would have been the logical decision.