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  #31 (permalink)  
Old 02-27-2012, 10:42 AM
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The XL pipeline raises the price of oil for US customers. Obama has raised domestic oil production to levels higher than Bush

From Polifact:

Here are the annual totals, in barrels produced, going back to 2003:

2003: 2,073,453,000
2004: 1,983,302,000
2005: 1,890,106,000
2006: 1,862,259,000
2007: 1,848,450,000
2008: 1,811,817,000
2009: 1,956,596,000
2010: 2,011,856,000

So, 2010 is definitely the highest since 2003. But we’ll note a couple of caveats.

First, production levels actually have been quite stable over the eight-year period. Comparing 2009 and 2010 statistics, petroleum production only rose about 3 percent. And the level for 2010 is only 11 percent higher than for the lowest year in that eight-year period. So the increase the president is referring to is not particularly dramatic.

The second caveat is that the Energy Information Administration projects that production totals are poised to fall from their current levels over the next two years.

Domestic crude oil production, the agency says, is projected to decline by 110,000 barrels a day in 2011 and by an additional 130,000 barrels per day in 2012. The agency makes that projection based on expected production declines in Alaska due to maturing oil fields. Production in the Gulf of Mexico is also projected to decline. Both are partially offset by projected increases in the Lower 48 states, but on balance, EIA sees the numbers falling.

So Obama is right that American oil production is at its highest level since 2003, but we’re taking the statement down a notch on our rating scale because the amount is projected to fall during each of the next two years, making it somewhat problematic to use the number as evidence that domestic oil production is on a healthy trendline. On balance, we rate the statement Mostly True.

me:
The increase in production for Obama is on the back of Bush's policies, not his own. As you well know, Obama absolutely hates fossil fuels, he even disobeyed a court order from a federal judge in Louisiana to allow drilling to resume in the Gulf after the BP oil spill.

And BTW, how do you figure the XL Pipeline will raise the price of oil? You'd rather get it from the middle east than Canada?
It will raise prices because right now the Canadians have no other customers to sell it to other than the mid west United States. The pipeline allows the oil to reach a port and be sold internationally
Really, no other customers? I heard the Canadians were talking with the Chinese about shipping their oil to them. And I see no logic at all for how prices would go higher if the XL Pipeline was approved. That is ridiculous, more supply on the market means lower prices.
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  #32 (permalink)  
Old 02-27-2012, 10:45 AM
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Barry will get the blame just as he would get the kudos if gas were 19 cents a gallon.
The president of the United States, regardless of who he is can do little about the international price of oil. Drilling more wells does not necessary mean low gas prices in the US. Oil is sold on an international market. In 2011, the US exported more oil than it imported.

More drilling means more supply, means lower prices. That's Econ 101, no? And we export refined oil and gasoline, we do not export crude oil, at least not more than we import.
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Old 02-27-2012, 10:55 AM
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per gallon in my town.. It occurred to me this morning the oil companies might be doing this on purpose to make obama look bad for his anti oil policies.. in that case it would be worth it don'tchyathink?

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Obama seeks to end oil industry tax breaks — again | Texas on the Potomac | a Chron.com blog

Obama seeks to end oil industry tax breaks — again


President Barack Obama called today for boosting funding for pipeline safety and renewable energy while again proposing to roll back several tax breaks for the oil and gas industry.

In his fiscal 2013 budget proposal, submitted to Congress today, Obama proposed boosting research funding and extending tax credits for clean energy as well as providing more money for energy-efficiency programs. He also called for rolling back oil and gas “tax preferences” worth $40 billion over 10 years.

It is the fourth straight year Obama has called for rolling back tax breaks for the oil and gas industry, but that call — and the budget more generally — is largely a symbolic statement because it stands little chance to pass through Congress.

ETC ETC ETC

the oil companies might be doing this on purpose ... in that case it would be worth it don'tchyathink?

Perhaps if the Administration were able to show who supports the oil industry - and no, the oil industry is just rabid with greed.
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  #34 (permalink)  
Old 02-27-2012, 11:04 AM
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" Perhaps if the Administration were able to show who supports the oil industry "

That would be every politician from big oil industry states. Repubs and Dems at every level.
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Old 02-27-2012, 11:24 AM
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" Perhaps if the Administration were able to show who supports the oil industry "

That would be every politician from big oil industry states. Repubs and Dems at every level.

Maybe that would still be beneficial ... and the Dems might go for an export "tax" everyone knows the Rs would fight tooth and nail, exposing their true identity if anyone is still in doubt.
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Old 02-27-2012, 11:41 AM
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Quote: Originally Posted by rightwinger Guests cannot see images in the messages. Please register to forum by clicking here to see images.


From Polifact:

Here are the annual totals, in barrels produced, going back to 2003:

2003: 2,073,453,000
2004: 1,983,302,000
2005: 1,890,106,000
2006: 1,862,259,000
2007: 1,848,450,000
2008: 1,811,817,000
2009: 1,956,596,000
2010: 2,011,856,000

So, 2010 is definitely the highest since 2003. But we’ll note a couple of caveats.

First, production levels actually have been quite stable over the eight-year period. Comparing 2009 and 2010 statistics, petroleum production only rose about 3 percent. And the level for 2010 is only 11 percent higher than for the lowest year in that eight-year period. So the increase the president is referring to is not particularly dramatic.

The second caveat is that the Energy Information Administration projects that production totals are poised to fall from their current levels over the next two years.

Domestic crude oil production, the agency says, is projected to decline by 110,000 barrels a day in 2011 and by an additional 130,000 barrels per day in 2012. The agency makes that projection based on expected production declines in Alaska due to maturing oil fields. Production in the Gulf of Mexico is also projected to decline. Both are partially offset by projected increases in the Lower 48 states, but on balance, EIA sees the numbers falling.

So Obama is right that American oil production is at its highest level since 2003, but we’re taking the statement down a notch on our rating scale because the amount is projected to fall during each of the next two years, making it somewhat problematic to use the number as evidence that domestic oil production is on a healthy trendline. On balance, we rate the statement Mostly True.

me:
The increase in production for Obama is on the back of Bush's policies, not his own. As you well know, Obama absolutely hates fossil fuels, he even disobeyed a court order from a federal judge in Louisiana to allow drilling to resume in the Gulf after the BP oil spill.

And BTW, how do you figure the XL Pipeline will raise the price of oil? You'd rather get it from the middle east than Canada?
It will raise prices because right now the Canadians have no other customers to sell it to other than the mid west United States. The pipeline allows the oil to reach a port and be sold internationally
Really, no other customers? I heard the Canadians were talking with the Chinese about shipping their oil to them. And I see no logic at all for how prices would go higher if the XL Pipeline was approved. That is ridiculous, more supply on the market means lower prices.
Right now, because of where the oil shale is located, they have no other available customers than the US Midwest. Unless China wants to fly it, they have no access. A pipeline to Houston means other nations including China can bid on that oil meaning higher prices

Canada has two options for the pipeline, through the US or through Canada. Going through Canada has it's own environmental challenges plus it has to pass through tribal lands.

The US does not gain much in terms of reduced oil prices
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  #37 (permalink)  
Old 02-27-2012, 12:30 PM
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" Perhaps if the Administration were able to show who supports the oil industry "

That would be every politician from big oil industry states. Repubs and Dems at every level.

Maybe that would still be beneficial ... and the Dems might go for an export "tax" everyone knows the Rs would fight tooth and nail, exposing their true identity if anyone is still in doubt.

Democrats will go for any tax under the sun, except the dems from oil states in this case. You realize that an export tax on refined oil and gas would not aleviate the price at the pump here, right? And that those countries who have to pay that higher export cost will reciprocate by raising taxes on their exports to us, right?
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Old 02-27-2012, 01:35 PM
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So nice of you to be so concerned about poor people

Are these the same poor people that you want to raise taxes on? The same ones you claim drive Escalades and use food stamps to buy filet mignon and lobster?



provide a link to my claims
50% of Americans do not pay income tax?
followed your link not one word about Escalades and use food stamps to buy filet mignon and lobster? so that makes you a ****ing liar.
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Old 02-27-2012, 01:38 PM
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provide a link to my claims
50% of Americans do not pay income tax?
followed your link not one word about Escalades and use food stamps to buy filet mignon and lobster? so that makes you a ****ing liar.
Poetic license

How bout this, every time from now on when you insult the poor about how good they have it.....I'll post it here

Should be fun
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Old 02-27-2012, 01:51 PM
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It will raise prices because right now the Canadians have no other customers to sell it to other than the mid west United States. The pipeline allows the oil to reach a port and be sold internationally
Really, no other customers? I heard the Canadians were talking with the Chinese about shipping their oil to them. And I see no logic at all for how prices would go higher if the XL Pipeline was approved. That is ridiculous, more supply on the market means lower prices.
Right now, because of where the oil shale is located, they have no other available customers than the US Midwest. Unless China wants to fly it, they have no access. A pipeline to Houston means other nations including China can bid on that oil meaning higher prices


C'mon dude, if we can offer a greater supply of refined oil and gas coming out of Houston, that means overall prices drop. Nobody is going to bid up the price if they can get it cheaper elsewhere.

Canada has two options for the pipeline, through the US or through Canada. Going through Canada has it's own environmental challenges plus it has to pass through tribal lands.

Canada is going to sell it to somebody somewhere. Frankly, I'd rather buy it from them than from the middle east.

The US does not gain much in terms of reduced oil prices
Maybe not. Maybe the total amount of oil is not a big deal relative to what we need. But I'd rather have however much it is coming from them, refined here, and shipped out of Houston than refined in China.
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Old 02-27-2012, 08:59 PM
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Barry will get the blame just as he would get the kudos if gas were 19 cents a gallon.
The president of the United States, regardless of who he is can do little about the international price of oil. Drilling more wells does not necessary mean low gas prices in the US. Oil is sold on an international market. In 2011, the US exported more oil than it imported.

More drilling means more supply, means lower prices. That's Econ 101, no? And we export refined oil and gasoline, we do not export crude oil, at least not more than we import.
The problem is we can not flood the world with oil and drive down prices regardless how much public land is leased for oil production. 92% of the world's oil production comes from abroad, a third from the Arab league and that's not likely to change much because the cost of production in the US is too high. Oil can be produced in Arab states for $1 to $2 a barrel far cheaper than in the US. Much of the new oil in the US can only be produced by drilling more expensive deep wells or using more expensive methods such as shale extraction. Increased US oil production can lower the price, but not by much. And if the US produces significantly more oil, OPEC is likely to cut production to stabilize the price.

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Old 02-27-2012, 09:27 PM
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per gallon in my town.. It occurred to me this morning the oil companies might be doing this on purpose to make obama look bad for his anti oil policies.. in that case it would be worth it don'tchyathink?







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Kind of like how they dropped prices during the end of 2008 to make McCain look good?
No. W did in July 08 by ending the drilling moratorium.
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Old 02-27-2012, 09:31 PM
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Considering it has to go through before it reaches the pump, we should be grateful gas doesn't cost a whole lot more than it does.

A gallon of milk costs about the same and that's a renewable resource that's a whole lot easier to produce.

So quit your whining. If you don't like the price of gasoline, don't drive your car.
I'm sure you were saying the same thing when gas was over $4.00 a gallon and BUSH was the President. Right? Or are you just another leftist hypocrite. Guests cannot see images in the messages. Please register to forum by clicking here to see images.
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Old 02-27-2012, 09:31 PM
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The president of the United States, regardless of who he is can do little about the international price of oil. Drilling more wells does not necessary mean low gas prices in the US. Oil is sold on an international market. In 2011, the US exported more oil than it imported.

More drilling means more supply, means lower prices. That's Econ 101, no? And we export refined oil and gasoline, we do not export crude oil, at least not more than we import.
The problem is we can not flood the world with oil and drive down prices regardless how much public land is leased for oil production. 92% of the world's oil production comes from abroad, a third from the Arab league and that's not likely to change much because the cost of production in the US is too high. Oil can be produced in Arab states for $1 to $2 a barrel far cheaper than in the US. Much of the new oil in the US can only be produced by drilling more expensive deep wells or using more expensive methods such as shale extraction. Increased US oil production can lower the price, but not by much. And if the US produces significantly more oil, OPEC is likely to cut production to stabilize the price.

Which is why we should've started drilling in ANWAR and other places a long time ago so we'd be energy independent by now.
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  #45 (permalink)  
Old 02-27-2012, 09:35 PM
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Do like thay did in the later '70's early '80's, use natural gas instead of gasoline.
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