Jim Yanik wrote:

Politics plays a part, sure. But oil production is primarily driven by
There're already plenty of places in the US
that could be developed today.

Such as?
IMO,you're full of crap,because with the recent high gas prices,they would
have already begun producing. The only new domestic production I've read
about is the individual land owners up in the Dakotas who drilled their own
lands and sell the oil themselves.

If you'll recall the debate last year about opening up abunch of new
areas to drilling, it was pointed out quite often that the oil
companies are sitting on lots of existing leases that they aren't
using.

http://money.cnn.com/2008/06/23/news...ling/index.htm

Why aren't they drilling there? Economics! Not politics.

Fact is,Obama WANTS oil prices to climb.He's said so.

Whether he does or not is irrelevant. He doesn't control the world
supply. But, as we approach and pass the production peak, prices are
quite likely to increase. and dramatically.

Without high prices, though, there's not a lot of incentive to develop
substitutes, which we're going to have to do. And, the sooner we do
that, the less painful the post-peak world will be.