2011: Drill Baby, Drill

Discussion in 'Energy' started by Samson, Feb 8, 2011.

  1. Samson
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    Samson Póg Mo Thóin Supporting Member

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    From the American Oil and Gas Journal
    American Oil & Gas Reporter | Home


    What?

    Despite "Peak Oil?"

    Despite the possibility of losing subsidies?

    Despite Windmills?

    How can this be?
     
  2. Mr. H.
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    Mr. H. Diamond Member

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    Sweet. :thup:

    Oil up $5.60 in overseas markets.

    What- they don't observer President's day?!
     
  3. Samson
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    Samson Póg Mo Thóin Supporting Member

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    :clap2:
     
  4. Mr. H.
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    Mr. H. Diamond Member

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    Jobs. Millions of jobs. Billions in revenues for local, state, and federal coffers. Increased domestic production of American energy.

    What's wrong with that. Nuttin', honey.
     
  5. mdn2000
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    mdn2000 BANNED

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    Despite Windmills, its because of Windmills that we need more oil, the easiest use seen is lubricating tens of thousands of Wind Mills that barely produce a tiny amount of electricity. Windmills use 10,000x's more lubricating oil per kwh than fossil fuel uses. Anyhow, all that extra oil is being used to Lubricate, a boon to Oil companies.

    Windmills are also increasing demand on Cement for for the foundation of the Windmills, Cement requires a massive amount of energy to make and transport, again the Cement industry is increasing demand for Oil and Energy to meet the needs of providing the Concrete foundations for Windmills.

    Windmills have increased demand for fiberglass, fiberglass uses petrochemicals in the manufacturing process, these chemicals are in high demand and require more Oil production.

    Of course the computers and radios have components made with oil.

    All the components in a Windmill require the use of oil, if you increase the amount of Windmills made, you increase the amount of oil used. We are at the begining of building ten, twenty, thirty, forty, fifty thousand Windmills, this is a massive increase in the use of the Earth's finite resources at an alarming rate.

    The Oil companies must drill to make Windmills, which on average need to be replaced four times during the life of one Nuclear or Fossil fuel power plant.

    Anyhow, just having fun, its a thought always on my mind.

    Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind.
     
  6. Mr. H.
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    Mr. H. Diamond Member

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    Why was the survey taken of Independent operators?

    Maybe because they drill 90% of the wells in this country?

    But, Obama speaks all the time about "Big Oil" and it's kazillions of profits. And when he sells his budget with $43 billion in taxes on "Big Oil" he is really targeting "Little Oil".
     
  7. whitehall
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    whitehall Gold Member

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    Even Bill Clinton left a loophole to drill on a tiny portion of ANWAR when he signed the bill confiscating millions of acres in Alaska which would become the property of the federal government. Democrats prevented the US from being independent of foreign oil because the democrat party thirves on unrest and instability. If Obama signed the authorization to drill in ANWAR the economy would spike but that's not what he wants. What else can we assume when Obama appointed a communist and the former leader of an arson and looting rampage to be on his "green jobs" board? It ain't about green jobs, it's about revolution.
     
  8. Samson
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    Samson Póg Mo Thóin Supporting Member

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    Or he is really targeting DOMESTIC oil...

    Ah well, without the jobs that the oil industry provides, people will just need to depend on government hand-outs.
     
  9. AquaAthena
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    AquaAthena INTJ/ INFJ

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    "Without a massive increase in the production of oil we can not build Windmills or Solar Power plants of any kind."

    Or..afford to feed our faces...
     
  10. rdean
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    rdean rddean

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    An economist for the Treasury Department said in 2009 that a study had found that oil prices and potential profits were so high that eliminating the subsidies would decrease American output by less than half of one percent.

    “We’re giving tax breaks to highly profitable companies to do what they would be doing anyway,” said Sima J. Gandhi, a policy analyst at the Center for American Progress, a liberal research organization. “That’s not an incentive; that’s a giveaway.”

    Some of the tax breaks date back nearly a century, when they were intended to encourage exploration in an era of rudimentary technology, when costly investments frequently produced only dry holes.

    http://www.nytimes.com/2010/07/04/business/04bptax.html

    Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. Exxon has tens of billions in earnings permanently reinvested overseas. Likewise, GE has $84 billion in overseas income parked indefinitely outside the U.S.

    Though Exxon's financial statement's don't show any net income tax liability owed to Uncle Sam, a company spokesman insists that once its final tax bill is figured, Exxon will owe a "substantial 2009 tax liability." How substantial? "That's not something we're required to disclose, nor do we."

    What The Top U.S. Companies Pay In Taxes - Forbes.com

    Oh, I get it, "We can't say". "Can't?" or "Won't?"
     

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