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Why Cant America use its own Oil

This is a discussion on Why Cant America use its own Oil within the Economy forums, part of the US Discussion category; Quote: Originally Posted by ScreamingEagle Political analyst J. D. Pendry said the barrel estimates from the Atlantic Shelf and the Bakken Fields show that the ...


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Old 03-03-2011, 11:55 AM
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Quote: Originally Posted by ScreamingEagle View Post
Political analyst J. D. Pendry said the barrel estimates from the Atlantic Shelf and the Bakken Fields show that the U.S. should be energy independent. He says the lagging development has no logical explanation.

"We have enough oil reserves in our country, much of which is on federal lands, to achieve energy independence. We have more than any other nation on the planet," Pendry claimed.

"Yet we choose instead to empower the Middle East and tyrants like (Venezuela's) Hugo Chavez rather than developing our own oil and energy sources," he said.

"When you factor in our coal reserves and the potential for coal-to-liquid fuel development, it is even more astounding that we purchase even one drop of fuel from other countries," said Pendry.

He believes the reason for the continued dependence is a lack of political will on the part of leaders. He believes there's some political maneuvering.

"It's only a smoke screen for the uninformed, which amazingly enough still works today. When cap-and-trade is forced on us, the president will state that he is pursuing drilling and claim the Republicans aren't supporting him in his efforts," Pendry said. "Our energy situation is mind-boggling."


Read more: U.S. has 'enough oil to be independent' U.S. has 'enough oil to be independent'
None of this matters if the US continues to uphold the laws of globalization or market liberalization. Any oil we produce in the US must be sold on the open market for spot prices or as futures, it is a violation of the cardinal laws of market liberalization and globalization, as well as the WTO and IMF to do otherwise.
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  #17 (permalink)  
Old 03-03-2011, 11:59 AM
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Quote: Originally Posted by JBeukema View Post
We could also slow the rate at which we burn the oil and use it to build windmills in the appropriate regions and solar panels int he Southwest. We can explore tidal and geothermal energies where feasible and devote resources away from corn ethonal and towards sugarcane/sugarbeet ethanol and alternatives to plastics.

Oil is a finite and non-sustainable resource.
Which is exactly why the envirowhckos, Al Gore, UN, International commodities exchange, neoliberals and cap and trade loons are all working in unison, to reduce our consumption forcefully because we won't reduce our consumption voluntarily.

As long as Americans have any disposable income at all, and oil is available to us we will waste oil as quickly as we can with autos designed to consume oil as inefficiently as possible. Or to consume oil as efficiently as possible depending on your pov.

American consumers simply can not be trusted with money, or oil.
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Old 03-03-2011, 12:04 PM
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Amazon.com: Internal Combustion: How Corporations and Governments Addicted the World to Oil and Derailed the Alternatives (9780312359072): Edwin Black: Books Amazon.com: Internal Combustion: How Corporations and Governments Addicted the World to Oil and Derailed the Alternatives (9780312359072): Edwin Black: Books
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Old 03-03-2011, 12:18 PM
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Quote: Originally Posted by skeptic View Post
Quote: Originally Posted by ScreamingEagle View Post
Political analyst J. D. Pendry said the barrel estimates from the Atlantic Shelf and the Bakken Fields show that the U.S. should be energy independent. He says the lagging development has no logical explanation.

"We have enough oil reserves in our country, much of which is on federal lands, to achieve energy independence. We have more than any other nation on the planet," Pendry claimed.

"Yet we choose instead to empower the Middle East and tyrants like (Venezuela's) Hugo Chavez rather than developing our own oil and energy sources," he said.

"When you factor in our coal reserves and the potential for coal-to-liquid fuel development, it is even more astounding that we purchase even one drop of fuel from other countries," said Pendry.

He believes the reason for the continued dependence is a lack of political will on the part of leaders. He believes there's some political maneuvering.

"It's only a smoke screen for the uninformed, which amazingly enough still works today. When cap-and-trade is forced on us, the president will state that he is pursuing drilling and claim the Republicans aren't supporting him in his efforts," Pendry said. "Our energy situation is mind-boggling."


Read more: U.S. has 'enough oil to be independent' U.S. has 'enough oil to be independent'
None of this matters if the US continues to uphold the laws of globalization or market liberalization. Any oil we produce in the US must be sold on the open market for spot prices or as futures, it is a violation of the cardinal laws of market liberalization and globalization, as well as the WTO and IMF to do otherwise.
Yet producing our own would lower market prices.....and eventually make us independent...if need be...
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Old 03-03-2011, 12:22 PM
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Wait, so letting international corporations drill in America so we can bid for it on the world market somehow leads to energy independence? How the hell is that supposed to work, exactly?
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Old 03-03-2011, 12:38 PM
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Because Rachel Carson wrote a book full of lies called Silent Spring that said we can't defile US soil, water or air. JFK & the Liberals that read it believed the lies & have made it their constitution. Because of this book the EPA was created to keep US in line.
Because allowing us to do so would impede the liberal obsession with moving America to an alternative energy dependence. This is an indicator of how the liberal/media/education cabal controls the discussions that regulate our very lives.
The enviro-whackos are on the same side as Exxon Mobile, the corporatists, the globalizing neoliberals.

They just don't know it. And for the same reason that you don't know it, because you like the enviro-whackos have been brainwashed.
Wanting clean water and clean air. I'm with you. Not only are they "whhacos" but they are also nutz. Unlike you.
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Old 03-03-2011, 12:48 PM
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Quote: Originally Posted by rdean View Post
Quote: Originally Posted by skeptic View Post
Quote: Originally Posted by American Horse View Post

Because allowing us to do so would impede the liberal obsession with moving America to an alternative energy dependence. This is an indicator of how the liberal/media/education cabal controls the discussions that regulate our very lives.
The enviro-whackos are on the same side as Exxon Mobile, the corporatists, the globalizing neoliberals.

They just don't know it. And for the same reason that you don't know it, because you like the enviro-whackos have been brainwashed.
Wanting clean water and clean air. I'm with you. Not only are they "whhacos" but they are also nutz. Unlike you.
Al Gore is neither a liberal, an environmentalist or particularly fond of anything green.

He is a right of center political insider who is as or almost as beholden to Wall Street and the oil companies as he is to his own legacy and estate.

He supports a global propaganda campaign to launch the meme of global warming because he knows that Americans must be weaned of their addiction to cheap oil and cheap resources. These resources are far too valuable to be squandered in a mere 100 years so the unwashed masses can all commute from suburbia to the mall in Magnum SUVs.

His whole green revolution was an economic stunt in which he intended to create a substantial industry that promoted austerity and a "less is more" societal value system.

He is towing the exact same line as the cap and trade folks, the IMF, WTO, neoliberals, UN, IPCC, Trilateral commission, and the Koch Bros. Different means toward the same end. We can either teach you to conserve the easy way, or the hard way, or both. If the carrot doesn't work, the stick will. Good cop, bad cop. Both are still cops.

Al Gore is a market liberalization, free trade neoliberal. Think about it.
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Old 03-03-2011, 12:54 PM
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Quote: Originally Posted by ScreamingEagle View Post
Yet producing our own would lower market prices.....and eventually make us independent...if need be...
Hardly. Most of the oil and coal we have left is only profitable to recover if prices are already high for an extended duration. And with the taste of a $60 billion spill clean up fresh in the mouths of the oil giants you almost can't make oil leases cheap enough to generate any interest.

Besides the Pentagon has no interest in our energy independence today. All the oil left in the ground in the us is our strategic reserve. Great wars are won and lost according to who runs out of fuel first.

It is official US policy to protect our reserves in the ground rather than squander them while they can be replaced at the same price internationally.
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Old 03-05-2011, 04:14 AM
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Quote: Originally Posted by skeptic View Post
Quote: Originally Posted by ScreamingEagle View Post
Political analyst J. D. Pendry said the barrel estimates from the Atlantic Shelf and the Bakken Fields show that the U.S. should be energy independent. He says the lagging development has no logical explanation.

"We have enough oil reserves in our country, much of which is on federal lands, to achieve energy independence. We have more than any other nation on the planet," Pendry claimed.

"Yet we choose instead to empower the Middle East and tyrants like (Venezuela's) Hugo Chavez rather than developing our own oil and energy sources," he said.

"When you factor in our coal reserves and the potential for coal-to-liquid fuel development, it is even more astounding that we purchase even one drop of fuel from other countries," said Pendry.

He believes the reason for the continued dependence is a lack of political will on the part of leaders. He believes there's some political maneuvering.

"It's only a smoke screen for the uninformed, which amazingly enough still works today. When cap-and-trade is forced on us, the president will state that he is pursuing drilling and claim the Republicans aren't supporting him in his efforts," Pendry said. "Our energy situation is mind-boggling."


Read more: U.S. has 'enough oil to be independent' U.S. has 'enough oil to be independent'
None of this matters if the US continues to uphold the laws of globalization or market liberalization. Any oil we produce in the US must be sold on the open market for spot prices or as futures, it is a violation of the cardinal laws of market liberalization and globalization, as well as the WTO and IMF to do otherwise.
Domesic (US) oil prices are based primarily on NYMEX figures. The actual prices paid are adjusted for localized markets. For example, oil produced in the state of Illinois sells (locally, BTW) for about $8.20/barrel less than NYMEX. This is the price "spread". The spread varies around the country. WTI is another quoted price, or benchmark, against which various crudes are priced.

So, yes, prices are "based" on the open market. But most domestic oil is not sold on the open market, i.e. to the highest bidder. In Illinois there are 3 companies which contract with producers to buy their oil. Only one actually refines the crude. The other two are merely "first purchasers" and serve as transporters. The contract is known as a Divison Order. It spells out the parties of the contract and defines the property from which the oil is to be sold. These companies operate in localized areas based on the location of their loading terminals and trucking facilities.

It's interesting that each of these companies' prices are virtually identical day in and day out. There has in the past been allegations of collusion but it is nearly impossible to prove.
Quote: Originally Posted by ScreamingEagle View Post
Yet producing our own would lower market prices.....and eventually make us independent...if need be...
Crude imports into the US are at a 13 year low. Based on this, how would one argue that point?
Quote: Originally Posted by JBeukema View Post
Wait, so letting international corporations drill in America so we can bid for it on the world market somehow leads to energy independence? How the hell is that supposed to work, exactly?
80% of the wells drilling in this country are done so by Independents, not internataional corporations. W/re: to "bidding on the world market"- see my comments above.
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Old 03-05-2011, 04:47 AM
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Well. You could nationalise ( pull the military out of fifty or sixty foreign countries to run it) your energy sector but I can already hear the murkins screaming their favourite bleat.
SOCIALISM !
BTW. Diesel in Venezuela is currently about 15 cents per gallon.
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Old 03-05-2011, 04:57 AM
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That 15 cent diesel is bankrupting Hugo.
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Old 03-05-2011, 05:35 AM
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Quote: Originally Posted by froggy View Post
What oil do we own? Aside from the National Security Reserves, I mean?

We own (I suppose) oil found under US owned land, but we lease that land to PRIVATE CORPORATIONS and when they drill for it, they OWN IT.

And they sell it to whomsoever is willing to pay the most for it.

This is, according to most people here, the invisbile hand of the market solving our problems for us.
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