tieguy
Banned
my conservative world hating money grubbing screw the poor self was actually amused by your liberal loving monica humping tolerant to all except conservatives response.
Oil prices
- Thread starter moreluck
- Start date
my conservative world hating money grubbing screw the poor self was actually amused by your liberal loving monica humping tolerant to all except conservatives response.
paidslave
Well-Known Member
Simple TIEGUY if you read My posts and understood them you will see, not just read. I will say it again, gas prises are at an all-time high and nothing has changed but A big oil boy in office!.
So you're suggesting we all move to Iraq because its a better place to live?
No, your administration will send you and maybe your family there shortly to fight Al-queda!
Don't forget this impotent version of a congress who has the power to fix the problem but has elected to ignore it.
Who controls congress? Not sure anymore!
Thats all our administration is doing is training the military? Looks like we all have huge tax refund checks headed our way.
Yes the coupons are coming soon. Record deficit? Your administration has built a what is that again, a DEFICIT? a You will get your coupon in the mail and hopefully you will be able to redeem it at your bank on .60 cents on the dollar value by then to fill your tank up. This country is almost bankrupt, believe it or not and hopefully you or I won't be bankrupt before he heads back to TEXAS!
Hope you and BS are first in line. You need it.
Don't worry maybe we will meet in the BREAD LINE or better yet sea-rashens! Just raise gas to $1000 a gallon because my pension and the UNION is vested in these oil companys! I'm covered! Won't be able to afford driving anymore but neither will UPS!
Nonetheless TIEGUY, I did enjoy your response and thanks to you and 705 for an extra day's pay!
paidslave!
tieguy
Banned
Not if we start drilling the fields we have available, start taking advantage of our huge natural gas supply, take advantage of our huge oil shale supply and make a serious effort to convert to alternative fuel sources none of which our president nor our congress is willing to do.
Don't just hold bush accountable hold congress too. the key to lower prices is to flood the market with supply and choices.
paidslave
Well-Known Member
You are right and very well said but the issues are deeper than simple Economics!
If we wanted OIL prices cheaper why we selling our oil to JAPAN? If we kept this oil we sell wouldn't our supply increase thus driving the prices lower? No, because we can sell it for more somewhere else in the world! I thought we won World War 2? We sell our oil to Japan and buy more form the Saudis. The more we drill the more we will sell to JAPAN and the more they will burn and I am not sure this would drive prices lower!
Besides, The value of the dollar is at an all time low vs the yen and euro because of attacking IRAQ and the world boycotting AMERICAN's and American Made products!
The simple fact is the world doesn't trust BUSH or the Americans anymore!
If you were an American travelling to Europe people would envy you now they despise us! Europe doesn't need us anymore there economy is booming and the value of the Euro has tripled in Value since BUSH and Condoleese rise lied about WMD's and ivaded IRAQ..........and interesting enough since the Euro tripled in value so did our GAS prices and everything else!
Thanks TIE! There is no quick fix!
brazenbrown
Well-Known Member
Its always been about profits, and for the republicans, it will always be that way, its just a matter of how to sell a cover story to those dumb enough to buy into it and then repeat it in their daily lives.
As I said before, the BUSH administration allowed one industry to wipe out thousands of businesses and industries here and abroad.
The next administration will do what it takes to control this industry.
If people were really interested in drilling, why not support a goverment run , non-profit oil company to drill in anwar, offshore and in the continental shelf and ALL THE OIL be kept in america to solve our energy crisis and price crisis.
WE DO OUR OWN drilling and KEEP THE OIL in america.
The oil companies have already proven they need no further profits from oil.
I know, i know, you guys are in for the free market, free to the oil companies and painful to the american citizen.
Peace
The Motley Fool
The Truth About Big Oil's Windfall Profits
By Morgan Housel
June 30, 2008
The debate over whether Big Oil has ruined your life rages on. Sen. Richard Durbin of Illinois recently commented, "The oil companies need to know that there is a limit on how much profit they can take in this economy." Rep. Maxine Waters of California, while scrutinizing a panel of Big Oil executives, went a step further and said she'd "be all about socializing ... basically taking over and [having] the government running all of your companies."
Huh, government run, that sounds stupid, I mean familiar!!
What government program do you know of now that is run well??Political ambitions aside, the question of whether corporations are making obscene profits off your misery is at a critical juncture. Not only is the cost of gas eating up a chunk of your paycheck, but millions of homeowners have also found themselves in the catacombs of foreclosure after holding mortgages whose particulars would make Enron look legitimate.
Big Oil, meet Big Financial
That brings up an interesting topic: How obscene are Big Oil's profits when compared with those of "Big Financial?" The answer to whether either has engaged in price gouging is sketchy at best, but let's focus on something that isn't debatable: net income.
Here's the net income of the five largest American financial companies for 2007:
Company
2007 Net Income
JPMorgan Chase (NYSE: JPM)2007 Net Income
$15.4 billion
Bank of America$14.8 billion
Goldman Sachs (NYSE: GS)$11.4 billion
AIG$6.2 billion
Citigroup$3.6 billion
That's a total of $51.4 billion. How about Big Oil? Here's the net income of the largest five American-based oil companies for 2007:Company
2007 Net Income
ExxonMobil (NYSE: XOM)2007 Net Income
$40.6 billion
Chevron (NYSE: CVX)$18.7 billion
ConocoPhillips (NYSE: COP)$11.9 billion
Valero (NYSE: VLO)$5.2 billion
Marathon Oil (NYSE: MRO)$4.0 billion
That comes out to $80.4 billion, or about $29 billion more than Big Financial. But, of course, Big Financial didn't have the rosiest of years. That's where things get really interesting.What's net income look like for 2006, when Big Financial was having a field day? The same group of financial companies made a combined $80.4 billion, compared with Big Oil's $82.9 billion. Hence, you get quite a predicament: Big Financial made as much money in 2006 as Big Oil did in 2007.
Follies of fairness
You never hear a peep about profit penalties for financial companies. Quite the opposite. The past year has been headlined by a chorus of government-backed bank bailout programs, coming just months after many banks logged huge profits riding a debt market that most have accepted was completely delusional, if not downright fraudulent.
But let's stop pointing fingers at seemingly backwards policy. Think about why windfall-profit taxes weren't imposed on banks and why so many bank bailout and assistance programs have been implemented in the past year: Because any severe fallout in the banking sector could cause the rest of the economy to implode. It often makes sense for the government to lend a hand to banks in crisis situations, to ensure that things don't degenerate into a full-fledged meltdown.
Think if, a few years back, federal regulators had sat down with the banking industry and said: "We know you're making a lot of money. Congratulations. But we see big problems on the horizon. Let's work together now before things get really bad." Things might look quite a bit better today. Now how about if regulators had said: "Shame on you for making so much money. We're taking half of your profits away. End of story." Odds are, banks would have just pushed through more time-bomb mortgage products to make up the difference and exacerbate the long-term problem.
That's how free markets work
Punishing Big Oil isn't much different. Imposing windfall taxes will probably only encourage oil companies to forgo exploration and development that would have been more lucrative with lower taxes. Whatever the solution to the energy crisis is, it's not just going to come galloping in on horseback in the next few months. The reality is that our economy is going to rely on oil for many, many years to come while innovation and discovery take place.
Obviously, Big Oil is eons away from needing a bailout. I'm not implying that Big Oil needs any help. But that isn't the point. What Big Financial's boom and bust can teach us about Big Oil today is that when the hatchet drops, you need the cooperation and commitment of the biggest and most influential companies to get the economy back on its feet. Or, more importantly, you need their cooperation before the problem turns into a disaster. The reason Big Oil is making a lot of money is that oil is scarce -- and that's probably the worst time you should give the oil companies less incentive to find more oil. So punish now, or forever hold your peace.
wkmac
Well-Known Member
I know this thread mainly concerns oil prices and recently T. Boone Pickens wind idea was getting lots of press coverage but I ran across the piece below on Solar Thermal technology and thought I'd pass it along.
As Pickens showed, the American heartland is a huge wind source and as the article above suggests, the American southwest a huge solar source.
We have many options out there IMO.
Also this piece by ron Paul on gas prices IMO is worth consideration.
http://www.antiwar.com/paul/?articleid=13348
As Pickens showed, the American heartland is a huge wind source and as the article above suggests, the American southwest a huge solar source.
We have many options out there IMO.
Also this piece by ron Paul on gas prices IMO is worth consideration.
http://www.antiwar.com/paul/?articleid=13348
Last edited:
wkmac
Well-Known Member
Gee Tie, you getting lazy?
10 seconds on Goggle and here you go dude!
http://michellemalkin.com/2008/08/13/nan-and-the-big-wind-boone-doggle/
http://selfinvestors.com/tradingstocks/news/the-pelosi-pickens-profit-plan-with-clean-energy-fuels-clne/
And in the interest of Fact Checking on this issue:
https://web.archive.org/web/2010102...ck/is_nancy_pelosi_heavily_invested_in_t.html
tieguy
Banned
Gee Tie, you getting lazy?
10 seconds on Goggle and here you go dude!
No thanks I appreciate it. I did try to google the information kept getting everything but this info. Thanks for sharing your superiority with me.
sillyputty
Active Member
Oil tumbles on Lehman failure, light Ike damage
Light, sweet crude for October delivery fell $4.05, or 4 percent, to $97.20 a barrel on the New York Mercantile Exchange, after earlier dropping to $94.13, the lowest level since Feb. 14. A close at that level would be oil's first settlement under $100 since March 4.
Crude has fallen about $50 — or 35 percent — from its all-time trading record of $147.27 reached July 11 as a global economic slowdown continues to weigh on demand for energy.
Light, sweet crude for October delivery fell $4.05, or 4 percent, to $97.20 a barrel on the New York Mercantile Exchange, after earlier dropping to $94.13, the lowest level since Feb. 14. A close at that level would be oil's first settlement under $100 since March 4.
Crude has fallen about $50 — or 35 percent — from its all-time trading record of $147.27 reached July 11 as a global economic slowdown continues to weigh on demand for energy.
UPS Lifer
Well-Known Member
There was a report today that stated retail gas prices have fallen 4% in the last 2 months BUT wholesale prices have dropped 23-26%.
Retail stations have been made to feel like they are the victims from the perspective of the media.... now it looks like the table is turning once again!
1989
Well-Known Member
av8torntn
Well-Known Member
wkmac
Well-Known Member
Ditto AV. I think Congressional leaders didn't come to Jesus but rather are cowards playing to both sides of the street. They can on the one hand claim to give to the will of the people by just letting the bans expire but then to those opposed they can say they never voted to overturn the bans. Typical politicians who want it both ways and don't have the guts to stand up for what they "SAY" they believe and defend it even if it risks their own election.
Sad part is, this is not some odd anomally but rather the norm and both parties do it and that just takes all the fun out of exploiting it!
Sad part is, this is not some odd anomally but rather the norm and both parties do it and that just takes all the fun out of exploiting it!
wkmac
Well-Known Member
And I just read this which longterm should help as well.
http://freep.com/apps/pbcs.dll/article?AID=/20080923/BUSINESS01/80923029
http://freep.com/apps/pbcs.dll/article?AID=/20080923/BUSINESS01/80923029
moreluck
golden ticket member
Subject: Fw: Bakken Oil Formation
I didn’t believe this, so I checked Snopes at http://www.snopes.com/politics/gasoline/bakken.asp who says this is partly true. Even if only partly, it has unimaginable and far reaching consequences. The US Geological Survey report is at: http://wwusgs.gov/newsroom/article.asp?ID=1911
w.
SUBJECT: BAKKEN OIL FORMATION
1. Ever heard of the Bakken Formation? GOOGLE it. It will blow your mind.
The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen/women knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana ... check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.
'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.
'This sizable find is now the highest-producing onshore oil field found in the past 56 years,' reports Th e Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada . For years, U.S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
That's enough crude to fully fuel the American economy for 41 years straight.
2. [And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO, people!]
U.S. Oil Discovery- Largest Reserve in the World! Stansberry Report Online - 4/20/2006 Hidden 1,000 feet beneath the s urface of the Rocky Mountai ns lies the largest untapped oil reserve in the world is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.
[(???) What the!??]
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
-8-times as much oil as Saudi Arabia
-18-times as much oil as Iraq
-21-times as much oil as Kuwait
-22-times as much oil as Iran
-500-times as much oil as Yemen - and it's all right here in the Western United States.
HOW can this BE!? HOW can we NOT BE extracting this!? Because some goofy politicians have blocked all efforts to help America become independent of foreign oil.
James Bartis, lead researcher with the study says we've got more oil in this very compact ar ea than the entire Middle East -more than 2 TRILLION barrels. Untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post
-Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to.
[Got your attention/ire up yet? Hope so! Now, while you're thinking about it .. and hopefully you¢ll do this:
3. Take a couple minutes and compose an e-mail; fax or good old-fashioned letter to all your friends and associates. Alert them to the fact that unethical politicians have been and will continue to obstruct all plans to make America independent of foreign oil. Something has to be done and NOW.
If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you'v e forfeited your right to complain.
I didn’t believe this, so I checked Snopes at http://www.snopes.com/politics/gasoline/bakken.asp who says this is partly true. Even if only partly, it has unimaginable and far reaching consequences. The US Geological Survey report is at: http://wwusgs.gov/newsroom/article.asp?ID=1911
w.
SUBJECT: BAKKEN OIL FORMATION
1. Ever heard of the Bakken Formation? GOOGLE it. It will blow your mind.
The U.S. Geological Service issued a report in April ('08) that only scientists and oilmen/women knew was coming, but man was it big. It was a revised report (hadn't been updated since '95) on how much oil was in this area of the western 2/3 of North Dakota; western South Dakota; and extreme eastern Montana ... check THIS out:
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable... at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.
'When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea.' says Terry Johnson, the Montana Legislature's financial analyst.
'This sizable find is now the highest-producing onshore oil field found in the past 56 years,' reports Th e Pittsburgh Post Gazette. It's a formation known as the Williston Basin , but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada . For years, U.S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken's massive reserves... and we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!
That's enough crude to fully fuel the American economy for 41 years straight.
2. [And if THAT didn't throw you on the floor, then this next one should - because it's from TWO YEARS AGO, people!]
U.S. Oil Discovery- Largest Reserve in the World! Stansberry Report Online - 4/20/2006 Hidden 1,000 feet beneath the s urface of the Rocky Mountai ns lies the largest untapped oil reserve in the world is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction.
[(???) What the!??]
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
-8-times as much oil as Saudi Arabia
-18-times as much oil as Iraq
-21-times as much oil as Kuwait
-22-times as much oil as Iran
-500-times as much oil as Yemen - and it's all right here in the Western United States.
HOW can this BE!? HOW can we NOT BE extracting this!? Because some goofy politicians have blocked all efforts to help America become independent of foreign oil.
James Bartis, lead researcher with the study says we've got more oil in this very compact ar ea than the entire Middle East -more than 2 TRILLION barrels. Untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post
-Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to.
[Got your attention/ire up yet? Hope so! Now, while you're thinking about it .. and hopefully you¢ll do this:
3. Take a couple minutes and compose an e-mail; fax or good old-fashioned letter to all your friends and associates. Alert them to the fact that unethical politicians have been and will continue to obstruct all plans to make America independent of foreign oil. Something has to be done and NOW.
If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you'v e forfeited your right to complain.
