So you expect airlines to operate at a loss just to keep prices where we like them...not going to happen, nor should it. Want to do something about it? Contact your US Senator and Congressman and DEMAND THEY PASS legislation that allows oil exploration within the US 48, Alaska, and all offshore waters, plus open the wells that have been capped. Yes it should be done with sensitivity for the environment, but it must be done. We cannot continue to be held hostage by foreign oil and OPEC. We must also build NEW refineries, and stop the 24 blends of gas we now produce. Pick the cleanest one and produce it for e1.
We have dug this hole for ourselves. We need to stop thinking about polar bears survival, and start acting for our own.
JMHO
And when you get it out of the ground then what??? This is a great myth here on the DIS. WE just drill and our problems are solved!
However, one of the issues is that there is currently a shortage of REFINING capacity to turn that new oil into gas.......
And anyone on here want a refinery in thier back yard?
This article is about a year old, but I don't think the situation has changed.
http://www.npr.org/templates/story/story.php?storyId=10554471
"Instead, Tesoro and other refiners are making smaller wagers, increasing capacity and reliability at their existing refineries. Tesoro plans to spend about $1 billion at the Los Angeles plant over the next five years. That should boost output by about 20 percent. That is helpful, but not enough to make a big dent in prices.
"In the next five years, we think the world is going to be fairly short of refining capacity. And that's going to keep margins at a higher than normal level," Smith, Tesoro's CEO, says. "
And here's some additional info on this.
http://www.peak-oil-news.info/oil-refinery-capacity-bottleneck/
High oil prices are still being propped up by a shortage of refinery capacity and there is little sign of the bottleneck easing until 2010, industry executives and officials discussing OPECs future have warned.
That potential respite relies on the unlikely prospect all 66 refineries planned by oil companies and producers being built, as well as a total of about 300 billion dollars in investment by 2015, they added.
The need for downstream capacity is just as important as other issues, said Claude Mandil, executive director of the International Energy Agency at a two-day conference which was continuing Wednesday.