Oil shale leases scrapped

[mikeb]

By the same obama guy that scrapped the offshore drilling leases.

Bastards didn't learn a damn thing from $147 oil.

http://www.foxnews.com/politics/2009/02/25/salazar-scraps-oil-shale-leasing-reverses-bush-policy/

IF the economy starts to gain steam look for gas to quickly shoot up to at least $3/gallon again.

[GhostTX]

Ya...oil will go up and they'll use that to justify all the green/renewable energy spending.

[Bubbaearl]

they canceled the leases to increase the royalties . first smart thing i've seen.

[Sean88gt]

Fools at the helm. Alternative energy is fine, but needs to become financially viable on its own. Don't kill the country with high energy prices trying to force the sale of 'green' energy.

Dickbags.

[mikeb]

they canceled the leases to increase the royalties . first smart thing i've seen.

That's the excuse they are using to do this. You'll never see any further activity with leases until oil nears $150 again, and the outcry from the pissed off people becomes deafening.

[Vertnut]

They're going to blame "big oil" again. I don't want to hear that shit...

[thesource]

Low fuel prices are the only thing keeping us out of a depression if we are not already in one .

[TexasDevilDog]

Ya...oil will go up and they'll use that to justify all the green/renewable energy spending.

I agree. If they can get oil energy costs above the break even point for solar and wind, then they can ram it down our throats.

[Vertnut]

I agree. If they can get oil energy costs above the break even point for solar and wind, then they can ram it down our throats.

Anyone remember ethanol?:smashfreakB: Sort of went away, didn't it?

[BP]

Anyone remember ethanol?:smashfreakB: Sort of went away, didn't it?

It hasn't gone away, it just costs more than gasoline right now. Labor day isn't very far away, gas prices always go up 20-30% the week before. When it does we'll be close to the break even point for E85 again.

[MadMax404m]

It hasn't gone away, it just costs more than gasoline right now. Labor day isn't very far away, gas prices always go up 20-30% the week before. When it does we'll be close to the break even point for E85 again.

Yea but the govt is still subsidizing it, which puts retail E85 below gasoline by about 15c/gal. If the govt ever quit subsidizing the stuff it would fall off the way-side in a hurry because it would be over $2 a gallon right now.

[BP]

Yea but the govt is still subsidizing it, which puts retail E85 below gasoline by about 15c/gal. If the govt ever quit subsidizing the stuff it would fall off the way-side in a hurry because it would be over $2 a gallon right now.

15 cents a gallon cheaper doesn't help when you have to buy 30% more to equal the performance. Good thing the average consumer doesn't understand those differences.

[Vertnut]

We're assuming E85 won't also go up in price...bad assumption.

[mikeb]

There is a lot of money in the porkulus bill and i expect that some of it will go to alternative energy, including ethanol.

The previous ethanol model is broken. Corn is expensive as a source now, and the price of a barrel of oil is down. Thus, there is no profit, or you are upside down. I've read of several ethanol plants going bankrupt.

I do believe that this gives the other ethanol technologies a chance - ethanol produced from switchgrass, garbage, etc. The source material is almost free. If they can figure out a way to ramp up the production of ethanol using these source materials then we will have a very useful technology producing a product that offsets some oil usage.

[VETTKLR]

15 cents a gallon cheaper doesn't help when you have to buy 30% more to equal the same distance traveled, if you ran straight gasoline. Good thing the average consumer doesn't understand those differences.

I fixed that for you.