A question for the "Drill, baby, drill" crowd?

OK, the problem I have with allowing more drilling is that, once oil prices go down, Americans, and the car companies that keep them happy, will quit worrying about alternative fuels and fuel economy again, and behemoths, until our next crisis. (It happened before, so it will happen again. Americans have a very short memory).

However, I heard an idea on the radio the other day, and thought it was rather original. Let oil companies drill as much as they want. The only compromise is, for every extra barrel of oil they drill, they need to set aside a certain dollar amount for R&D into alternative energy.

That way, we get the benefits of cheaper oil, and less dependence on OPEC, but without shooting ourselves in the foot by using up all our oil before ensuring we have a replacement. I think Conservatives might have it right on this one.

(Oh, and we would, of course, need to increase government regulations on offshore oil rigs to prevent the incident in the gulf from re-occurring)

19 Answers

  • Anonymous
    10 years ago
    Best Answer

    Agreed. The Bush administration deregulated. As we can see by the disaster, the Gulf oil spill is destroying our environment but the neocons wants to continue to drill. They don't care. They were the one chanting Drill, baby, drill now they are blaming President Obama. There are alternatives such as Solar Power, Solar Power & Geothermal energy. <3*

  • 10 years ago

    Why should the government FORCE the oil company into a line of business that is not of their choosing? If there is an alternative energy source out there... and I'm actually sure there is... Let the FREE MARKET find it. Entrepreneurs aren't going to stop looking for new energy sources just because oil is cheap.

    But the point is... punishing the oil companies (or any other industry) for simply doing their job well is not in the best interests of America... and it certainly isn't the role of the government.

  • 10 years ago

    = The only compromise is, for every extra barrel of oil they drill, they

    = need to set aside a certain dollar amount for R&D into alternative energy.

    That's simply an extra dollar per barrel cost of government's regulation. So, instead of $80 per barrel, the stuff will cost $81 -- plus all the costs of taxes already in place...

  • Anonymous
    10 years ago

    if they are setting aside money for alternative fuels then prices wouldn't go down now would they, its not the oil companies jobs to fund alternative fuels, that is up to entrepreneurs, and good reason to lower taxes, and shrink government.

    the gulf spill wasn't caused by a lack of regulation, it was caused well, by a tragic mistake really. but obama did allow BP to squeeze by regulation. just enforce existing regulations, like with the immigration laws. how are the entrepreneurs going to get in the game with so much cost increasing regulations?

    government= bureaucracies, higher prices, and stunts entrepreneurship.

  • How do you think about the answers? You can sign in to vote the answer.
  • Kathy
    Lv 4
    4 years ago

    Try using a little math in your "logic". Unless the percentage of increase of oil production is equal to the percentage of decrease in oil prices, oil company profits will actually increase. If oil production increased ten fold and oil prices are cut in half, the oil companies would still make five times the profit, a 500% increase just to boggle your mind.

  • Anonymous
    10 years ago

    "The only compromise is, for every extra barrel of oil they drill, they need to set aside a certain dollar amount for R&D into alternative energy."

    That's about as stupid as saying you can eat all the junk food you want, but for every Coke you drink you have to buy your neighbor a glass of milk.

  • 10 years ago

    Simple, lets say we ban oil, or make it unaffordable, and use a new car, that runs on....cheese. The new cheese engine is great, but since it is new, will cost me about $30,000 for a cheap model.

    Everyone have 30k layin around? I can barely afford my 11k car I just got.

    When they have a good idea for alternative fuel, lets hear it. Until then, make oil affordable.

  • 10 years ago

    If alternative energy is worth it, it won't need to be subsidized. I can see solar on roof tops where there is plenty of sun and wind power where there is frequent strong winds. Nuclear power is a good idea anywhere there is cooling water.

    I agree we should preserve petroleum for petrochemical fertilizers and pesticides. Until the rest of the world joins the Euro-cultures in no longer overpopulating those farming uses will be ever more critical. I'm assuming of course that you aren't a neo-Marxist eco-bigot who insanely hates anything produced by "greedy capitalists."

  • Bert
    Lv 7
    10 years ago

    Americans no longer caring about alternative energy is only your assumption. Considering there are so many American's concerned with the environment, regardless of the cost of oil, I would have to disagree with your assumption.

  • 10 years ago

    Kevin, the "behemoths" are hoping to buy some time for use in looking for alternatives to oil.

    Petroleum isn't just used for energy, you know. It is also used in the plastic in your computer, the surgical stint in your grandma's kidney and the Vaseline on Miss America's lips.

Still have questions? Get your answers by asking now.