[Lafourche1]

To those that think that OPEC cannot influence the price of oil, just remember that they are setting on lakes of it, still to this day. Their wells are shallow wells of less than 7,000 feet (gas is at about 10,000'). They produce through their production casing, sometimes running through 7 5/8", flowing at 10,000 - 60,000 barrels a day from each well.

The oil that is being developed domestically is deeper. Off-shore it is at depths greater than 15,000'. That is expensive to drill. Often these off-shore wells are in 4,000 feet or more of water. That greatly increases the cost and danger as well. Frankly, not a single major oil company has a clue of how to answer another Deep Water Horizon disaster.

Standing next to the rotor table when the well makes that freight train rumbling sound, followed by the drilling string being unloaded into the top of the derrick and into the Gulf is not a fun experience. Even Boots Hansen gets his move on when those things take place.