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Originally Posted by 88-31-10  If you think drilling ANWAR will drop the price of a barrel of oil, I've got some land to sell you. With oil on it. Wanna buy it? Drilling ANWAR is a red herring. It's effect on the price of a barrel of oil is nil. Zip. Zero. Nada..... |
Estimated ANWAR production is about 900,000 barrels per day. Last month on the Senate floor New York Democrat Chuck Schumer said this;
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So we know that OPEC has no incentive to increase their production right now - since that would decrease their profits. In fact, if Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil, and crude oil prices could fall by more than $25 dollar per barrel from its current level of $126 per barrel.
In turn, that would lower the price of gasoline between 13 percent and 17 percent, or by more than 62 cents off the expected summer regular-grade price - offering much needed relief to struggling families.....
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IN FLOOR SPEECH, SCHUMER PUSHES TO BLOCK $1.4B IN ARMS DEAL UNTIL SAUDIS INCREASE OIL SUPPLY BY 1 MILLION BARRELS PER DAY
Do you think 50 cents or more a gallon is nil. Zip. Zero. Nada? Or is Schumer just another full of crap Democrat? I think the one full of crap is you 88.