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"ANWR oil production would begin 10 years after legislation
drilling in Alaska’s North Slope have declined over the past seven years as the volume of oil extracted from the North Slope fell from 800,000 barrels in 1980 to half that amount, which is part of the reason BP and other companies have been so eager to drill in ANWR.
7/23/2008--Introduced.
Consumer Energy Supply Act of 2008 - Instructs the Secretary of Energy to publish a plan to: (1) sell prescribed amounts of light grade petroleum from the Strategic Petroleum Reserve (SPR) and acquire an equivalent volume of heavy grade petroleum; (2) deposit cash proceeds from those sales into the SPR Petroleum Account; and (3) withdraw from such proceeds the administrative and operational costs of the sale and acquisition.
Requires an offer for sale of 70 million barrels of light grade petroleum from the SPR.
Requires the sale to: (1) commence within 30 days after enactment of this Act, regardless of whether the Secretary's plan has been published; and (2) be completed within six months after enactment, with at least 20 million barrels offered for sale within the first 60 days after enactment.
Sets forth an acquisitions schedule for heavy grade petroleum to replace the light grade petroleum sold under this Act.
Encourages the Secretary to grant requests to defer scheduled deliveries of petroleum to the SPR if deferral will result in a premium paid in additional barrels of oil which will reduce the cost of oil acquisition and increase the volume of oil delivered to the SPR or yield additional cash bonuses.
5/20/2008--Introduced.
Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming.
Petroleum Consumer Price Gouging Protection Act - Declares it unlawful for a supplier to sell crude oil, gasoline, petroleum distillates, or biofuel at an unconscionably excessive price in an area for which the President declares that an energy emergency exists. Grants the Federal Trade Commission (FTC) authority to enforce this Act.
Authorizes the President to declare a federal energy emergency if the well-being of U.S. citizens is at risk because of a shortage or imminent shortage of adequate supplies of crude oil, gasoline, petroleum distillates, or biofuel because of: (1) a disruption in the national distribution system; or (2) significant pricing anomalies in the national energy markets for such products.
Authorizes state attorneys general to bring civil actions to enforce this Act. Sets forth civil and criminal penalties for violations.
Directs the Secretaries of Energy and the Interior to suspend acquisition of petroleum for the Strategic Petroleum Reserve until December 31, 2008.
No Oil Producing and Exporting Cartels Act of 2008 or NOPEC - Amends the Sherman Act to make it illegal for any foreign state to act with another foreign state to: (1) limit the production or distribution of oil, natural gas, or any other petroleum product; (2) set or maintain prices for such products; or (3) otherwise take any action in restraint of trade for such products. Denies sovereign immunity or act of state doctrine protections for foreign states who engage in such such illegal conduct.
Amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to: (1) determine that foreign boards of trade subject to CFTC jurisdiction regulate and provide information on off-shore oil trading; and (2) set a substantial increase in margin levels for all oil futures trades, contracts, or transactions.
Originally posted by ThreeDeuce
Do we need ANOTHER thread about this?
I personally think we should drill.
Its our only option unless we can make the government release the technology that they have.... good luck with that.
So, are only option is to drill........
These oil threads are too overdone, I'm sure there's at least 4 other threads with the same exact topic.
Originally posted by tommyb98201
Anwar, offshore drilling, and inland drilling will not meet Americas oil needs..............But it sure wont hurt. We will not be able to play catchup with the oil crisis. but tapping into our American oil and building a new refinery may drive the price down some. In the meantime we can work on alternatives.
If the countries that hate us decided that they wanted to cut off our oil, we will be sorry we didnt DRILL..DRILL..DRILL