Drill! Drill! Drill!

What about bushes economic stimulus plan. Was that an entitlement?.. . oh.. bush gave money to everyone, he must be redistributing gdp, he must be a comunist... Since only the wealthy pay taxes, bush must be a pinko robin hood.

What about releasing some of the petroleum reserve. what about closing down the enron loophole... all things not entitlements that would decrease economic pressures...

Hmmm... would not have done the economic stimulus thing if the taxes were lowered in the freaking first place...

And I think any plan is wrong that does not have equal % burden taxation....

What about closing down as many loopholes as we can find? That would suit me better...

And no, not only the wealthy pay taxes... nor should it be that only the wealthy pay taxes... nor should it be that the wealthy pay taxes to redistribute to others instead of them paying their share to fund the operation of government... but as a fact though, the way things are set up, the wealthy pay the vast majority of taxes in this country
 
"...Ok, you fondly remember the pre-Bush days of horse trading and compromises. I want to stick a drill in every major source of oil in this country over the next five years. What do I need to give you to make that happen?"

There ya go.. thats how it works....
 
Hmmm... would not have done the economic stimulus thing if the taxes were lowered in the freaking first place...

And I think any plan is wrong that does not have equal % burden taxation....

What about closing down as many loopholes as we can find? That would suit me better...

And no, not only the wealthy pay taxes... nor should it be that only the wealthy pay taxes... nor should it be that the wealthy pay taxes to redistribute to others instead of them paying their share to fund the operation of government... but as a fact though, the way things are set up, the wealthy pay the vast majority of taxes in this country

NO, THEY DON'T

they pay the majority of income taxes....NOT the majority of TAXES......

from what i have read, our federal budget is about 3 plus trillion a year....income taxes bring in about 1.2 trillion, SS brings in almost 1 trillion, the corporate taxes, excise taxes, gasoline taxes, postal stamps etc covers some of the rest and the remaining is deficit borrowing....


care
 
And of course, you expect those who do advance and earn owes everyone else in a socialist/marxist/Robin Hood style of wealth redistribution... :cuckoo:

As I have said many times and I will CONTINUE to say many times... you are the only one responsible for you.... I owe you nothing of my earnings for you to take care of yourself.. you are not entitled to crap... you have the right and the freedom to succeed just as you have the right and the freedom to fail.... you want more, earn it... do what you have to do

so ripping off the people below me is okay if it all boils down to the me, me, me thing you suggest? or ripping off the stockholders is ok too?

see, i can play your game too....:cuckoo:
 
The actual multiplicity of factors that impact the price of oil are far too many to form a simple opinion based on a few factors and say "it's only worth a couple of cents." Maybe so, maybe not, but how about we stop navel-gazing and actually find out?

I'll make you the same trade, you can have the 68 million acres, and just give the oil companies 2,000 acres in ANWR. What do ya say? Should we find out if your theory is right or wrong? Seriously, back to the question, we KNOW where some oil is, why not allow the drilling there? Saying it is only going make little difference really isn't an answer. So, we drill 1%. Then Brazil with their new oil find drills 1.5%. Then China forces Cuba and Sudan to drill 1%. Pretty soon you're talking real oil.

It all has an impact, just like less supply all has an impact. If Iran decides to cut the Straits of Hormuz (blocking oil from Iran, Iraq and Kuwait) and Venezuela decides that it only wants to sell oil to China. We would be screwed royally if only for a little while.
if it is 50 miles off the florida coast, and in anwr which has less than 1 year's supply if all drawn out at once instead of the 20 years they are projecting, i am against it....all other areas could be opened up as far as i am concerned...

we had a HUGE, MEGA find of oil right outside the continental shelf in the gulf, they've been working for a decade now to bring it up, still not a drop, but when it blows, it should be good for the market i suppose?!
====================================


brazil had a major mega, mega find recently and mexico too! ALONG with several recent mega finds of oil in the caspean sea... and we are talking FINDS not some wish list.....

guess what happened? the price of oil went up about $10 bucks a barrel on each find.....i'm not certain what sound facts the speculators are speculating on????:eek:

care
 
if it is 50 miles off the florida coast, and in anwr which has less than 1 year's supply if all drawn out at once instead of the 20 years they are projecting, i am against it....all other areas could be opened up as far as i am concerned...

we had a HUGE, MEGA find of oil right outside the continental shelf in the gulf, they've been working for a decade now to bring it up, still not a drop, but when it blows, it should be good for the market i suppose?!
====================================


brazil had a major mega, mega find recently and mexico too! ALONG with several recent mega finds of oil in the caspean sea... and we are talking FINDS not some wish list.....

guess what happened? the price of oil went up about $10 bucks a barrel on each find.....i'm not certain what sound facts the speculators are speculating on????:eek:

care

Well I didn't look at the consumption end for this reply so you'll have to be satisfied with the supply analysis. According the the Brookings Institution (no conservatives are they) the whole country of Iraq has somewhat less that 78 billion barrels (a 2003 number) of oil ALL TOLD. Oil in Iraq.

Meanwhile, the US Geological Survey says there is 10.4 Billion Barrels just in ANWR Amount of Oil in ANWR. My analysis says if we can recover 1/7th of all the oil in Iraq, right here and in one place, we better do it. Don't you think?
 
brazil had a major mega, mega find recently and mexico too! ALONG with several recent mega finds of oil in the caspean sea... and we are talking FINDS not some wish list.....

guess what happened? the price of oil went up about $10 bucks a barrel on each find.....i'm not certain what sound facts the speculators are speculating on????

Speculation is an issue that needs to be tightened up no doubt. We better be damned careful how we do it though or the medicine maybe worse than the disease.

Look there is a bubble in oil just like there was a bubble in the housing market and just like there was a bubble in tech firms. I think we have sooooo much mobile capital flying around the world right now, that it's going to be one bubble after another. Right now it is in commodities including oil. So yeah, with the oil still in the ground and no rigs on top of them, 3rd world oil stocks won't be moving the market in the face of those other factors.
 
Speculation is an issue that needs to be tightened up no doubt. We better be damned careful how we do it though or the medicine maybe worse than the disease.

Look there is a bubble in oil just like there was a bubble in the housing market and just like there was a bubble in tech firms. I think we have sooooo much mobile capital flying around the world right now, that it's going to be one bubble after another. Right now it is in commodities including oil. So yeah, with the oil still in the ground and no rigs on top of them, 3rd world oil stocks won't be moving the market in the face of those other factors.
precisely techie!

And i don't want to be haphazzardly regulating either...i think this needs to be thoroughly thought thru and the plus and minusses need to be weighed on each reform proposal for both short and long term effects.

Now, i truely know little about the futures market or how it works other than reading about it on this board where there are some posters that are much more knowledgable than me on the topic, hash it out occaisionally or a program or two on c-span once in a while....

BUTTTTTTTTTTTTTT, :) I thought i heard that on these future oil purchases, the customer or speculator only has to put up 5% of their own money to buy in to them....which congress thinks is too low, compared to other things and it makes it too easy for them to basically manipulate and control the market with very little money of their own put up. And that if this were 10% or 15% that they had to put up of their own money then maybe this would prvent this willy nilly oil market....simply. :D

Now obviously there will be some positives and negatives for changing this reg,..... i don't know what they are......... lol. But SOMEONE DOES....and it should be figured out....

Another thing mentioned is that even though we have regs that do control the oil market, there are some loopholes that were just discovered that showed that foreign countries were trading oil here in Atlanta, kinda looked like a british firm that really was owned by the united arab emirates i believe? and for some reason this hid "something" from our regulators or kept them from being regulated at all while all those buying such stocks on our stock exchange, think they have the safety and security of the USA regulations and rules to do such and are protected somehow, but it turns out they are not. (as you can see alot is missing from what i am saying to you but this is because i didn't understand it all ....when i read it or heard it! hahahahahahaha!)

Care
 
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precisely techie!

And i don't want to be haphazzardly regulating either...i think this needs to be thoroughly thought thru and the plus and minusses need to be weighed on each reform proposal for both short and long term effects.

Now, i truely know little about the futures market or how it works other than reading about it on this board where there are some posters that are much more knowledgable than me on the topic, hash it out occaisionally or a program or two on c-span once in a while....

BUTTTTTTTTTTTTTT, :) I thought i heard that on these future oil purchases, the customer or speculator only has to put up 5% of their own money to buy in to them....which congress thinks is too low, compared to other things and it makes it too easy for them to basically manipulate and control the market with very little money of their own put up. And that if this were 10% or 15% that they had to put up of their own money then maybe this would prvent this willy nilly oil market....simply. :D

Now obviously there will be some positives and negatives for changing this reg,..... i don't know what they are......... lol. But SOMEONE DOES....and it should be figured out....

Another thing mentioned is that even though we have regs that do control the oil market, there are some loopholes that were just discovered that showed that foreign countries were trading oil here in Atlanta, kinda looked like a british firm that really was owned by the united arab emirates i believe? and for some reason this hid "something" from our regulators or kept them from being regulated at all while all those buying such stocks on our stock exchange, think they have the safety and security of the USA regulations and rules to do such and are protected somehow, but it turns out they are not. (as you can see alot is missing from what i am saying to you but this is because i didn't understand it all ....when i read it or heard it! hahahahahahaha!)

Care

Did you just say something ? :lol:
 
Well I didn't look at the consumption end for this reply so you'll have to be satisfied with the supply analysis. According the the Brookings Institution (no conservatives are they) the whole country of Iraq has somewhat less that 78 billion barrels (a 2003 number) of oil ALL TOLD. Oil in Iraq.

Meanwhile, the US Geological Survey says there is 10.4 Billion Barrels just in ANWR Amount of Oil in ANWR. My analysis says if we can recover 1/7th of all the oil in Iraq, right here and in one place, we better do it. Don't you think?

We consume nearly 8 billion barrels a year, (or were trending that way). Haven't looked at your links yet for all the info, but Iraq having only 78 billion seems VERY LOW considering they are the second largest oil reserve country next to Saudi Arabia....and I thought the estimate for the Saudi's oil reserves was around 225-250 billion barrels of oil, (though i did read a conspiracy theory that said the saudis were lying and they really only had around 125-150 billion barrels of oil :) )

I am uncertain on ANWR, my main concerns are truely environmental, and i am not ashamed of that in the least....there is so much of alaska that is not part of this National Wildlife Reserve, that could be explored imo...BEFORE we resort to drilling there...EVEN if drilling there would be a little bit easier.

Alaska DOES NOT own this land, we do....purchased from them with our tax dollars, I believe?

If there were securities on the oil drilling and wells there would not harm us or the National wildlife in the refuge that satisfied my concerns, I suppose my arm could be twisted but i would want to see those legislated in the bill opening it up, not some after thought.

Also, since it is OUR land, i would want to ''personally'' get a royalty check from the oil sales! :)) maybe it could help me pay for the 800 gallons of oil i am facing buying each and every winter, till i can afford to have my system changed to something that is not a fossil fuel...i am in maine so heating is a real concern, and no natural gas heat is avail and believe it or not electricity is STILL more expensive than oil to heat!!!!???? just read that in a local paper....hard to believe!

anyway, i will go in to your links and get back to ya on your post.

Care
 
We consume nearly 8 billion barrels a year, (or were trending that way). Haven't looked at your links yet for all the info, but Iraq having only 78 billion seems VERY LOW considering they are the second largest oil reserve country next to Saudi Arabia....and I thought the estimate for the Saudi's oil reserves was around 225-250 billion barrels of oil, (though i did read a conspiracy theory that said the saudis were lying and they really only had around 125-150 billion barrels of oil :) )

I am uncertain on ANWR, my main concerns are truely environmental, and i am not ashamed of that in the least....there is so much of alaska that is not part of this National Wildlife Reserve, that could be explored imo...BEFORE we resort to drilling there...EVEN if drilling there would be a little bit easier.

Alaska DOES NOT own this land, we do....purchased from them with our tax dollars, I believe?

If there were securities on the oil drilling and wells there would not harm us or the National wildlife in the refuge that satisfied my concerns, I suppose my arm could be twisted but i would want to see those legislated in the bill opening it up, not some after thought.

Also, since it is OUR land, i would want to ''personally'' get a royalty check from the oil sales! :)) maybe it could help me pay for the 800 gallons of oil i am facing buying each and every winter, till i can afford to have my system changed to something that is not a fossil fuel...i am in maine so heating is a real concern, and no natural gas heat is avail and believe it or not electricity is STILL more expensive than oil to heat!!!!???? just read that in a local paper....hard to believe!

anyway, i will go in to your links and get back to ya on your post.

Care

What kind of an environmentalist uses oil to heat their home? Geez. Get some of that good solar and wind energy. Come on, gotta put up or shut up. Wow, it really isn't that easy is it?

Check the links. I even used "Liberal" and Government sources. I'm not buying what you're selling on the National Park status of ANWR. If it was Yellowstone, it would be a different matter, but nobody on this board will ever go there. And concerning wildlife, why is the wildlife there more important than the wildlife where the drilling will actually take place? While your at it, I haven't seen anywhere that people have proven a negative impact on wildlife absent a spill.
 
What kind of an environmentalist uses oil to heat their home? Geez. Get some of that good solar and wind energy. Come on, gotta put up or shut up. Wow, it really isn't that easy is it?

Check the links. I even used "Liberal" and Government sources. I'm not buying what you're selling on the National Park status of ANWR. If it was Yellowstone, it would be a different matter, but nobody on this board will ever go there. And concerning wildlife, why is the wildlife there more important than the wildlife where the drilling will actually take place? While your at it, I haven't seen anywhere that people have proven a negative impact on wildlife absent a spill.

well, we just put out all the available cash that we had to buy this place, and my husband did just go a year unemployed so that ate in to the safety net we had.... those are the times we live in.

ALL HOMES in my area are heated by oil....there are no alternatives.

We don't produce enough solar or wind where i live to supply the house with all of it's needs, though certainly enough to supplement it.

The only thing we can afford to do now is get an efficient wood or pellet stove, with the wood from an arborist. They release less bad stuff than the fireplace or by burning oil.

If i could afford it, i would like to look in to geothermal heat, regular heat pumps only work well when the temp is not below 40 degrees and here it gets near zero and below zero so those don't work either.

the state does have some incentives to put in solar panels for your regular electric IF you tie it in to the grid up to $2k rebate but all has been used for 2008, plus there is a fed rebate, but the panels would near 20k with labor and this is just way too much. The state is offering huge rebates for businesses to get wind or solar power and incentives to put wind farms on people's private properties that could support it, (alot of people have alot of land here sitting idle) and we are making great progress, but that does not help me, and my heating concerns.

What i can do to this new home is put in storm doors, reseal and caulk the windows, get the wood or pellet stove installed, stuff the attic with more insulation, fill all the lightsockets on outside walls with some insulating foam, put plastic seal over the inside of the windows, keep the inside thermostat on 59 degrees, wear sweats all the time, and PRAY for the best!
 
Thats when it became obivious that fanatics with state ties possibly supported by oil money could be a threat to US citizens at home.

If I was going to get off on something, it wouldnt be assuming... IT, however, is not a big assed assumption... did I miss the primary candates yelling Drill, Drill, Drill.... did I miss the republicans giving up their last break to grandstand on the capital.... actually if I remember Jim Webb, quite possibly your Senator, actually stayed throughout the christmas break to keep congress in session.. he was there alone last I checked.... and He left the cameras and the lights on.... How many pubs stayed around to discuss the need to drill oil. Hell you cats could have been screaming about drillin for jesus....Actually I challenge you to proove that oil was at the forefront of american and political thought once the hullibaloo from katrina oil related price hikes faded away....



Oil was what... 20 dollars a barrel. Many locations were either not known or not worth the effort... Hell since 92 how many fuel efficient vehicles was Detroit crankin out. Oil was cheap and plentiful... Few outside of oil companies were arguing for new drilling... so kudos if that was you.. granted I highly doubt it...

still swimin in oil btw... that being said, I am all for responsible drilling... but, I think alternative energies need to be explored and not by oil companies.. arent they given a tax credit to explore energy alternatives? Heres a thought, Invest in universities and other non oil companies that have a vested interest in developing new energy alternative technologies...

Um.. yeah.. Ok Nostradamus.... You'd be a valuable asset to any oil man if you had that information... How are you with lottery tickets?

Sorry I missed this Jeep.

2001 was not when it became obvious we could be attacked on our shores by AQ. That was in 1993 when the WTC was hit the first time.

Leaving the political stunts of the Dems aside, we know the reason they stayed in session was to prevent recess appointments by the Pres, the world did not begin in 2000 or 2001. All your points are very recent activities or lack there of. The price of oil is not the sole determining factor. People actually know that oil gets consumed and new sources constantly need to be sought. People for 20 + years have known that if we didn't seek new sources and use them, we would find ourselves in a crisis situation (LIKE NOW). In fact, the Dems have carefully constructed this situation for nearly 30 years. Voting NO on opening drilling areas and YES on restricting areas from drilling and NO on new refining locations and YES on giving environmental organizations standing in court to battle oil companies when they get leases and try to drill or refine when they would not have standing otherwise and when no other similar standing exists for anyone else. They have done everything in their power to get us to this point.

I'm sorry you are just waking up to this point now, but this battle has been raging for more than 20 years. You may highly doubt my involvement but in 1993, I was taking the "Art and Craft of Lobbying" at American University. Our group's mentor lobbyist was from the American Petroleum Institute (API). Our group project for the course was to produce a lobbying plan. Since our mentor was from the API, our lobbying plan was for drilling in ANWR. The National Petroleum Security Act of 1993, I believe is what we called it. That's twice now Jeep, pretty soon you are going to think twice before you question me.

To your point on responsible drilling, I think all drilling should be responsible as well as shipment either by tanker or pipeline. I'm a firm believer in all of the above energy production. I like me some nuclear, oil, solar, wind, geo-thermal, hydro whatever. I think we should have an Apollo/Manhattan Project type program to get to new sources of energy by whatever means necessary, but we ain't there yet! And, whatever you think, ICE cars and trucks will still be here in 10 years and still need oil to run them.

I'm hardly seeing the future or anything that isn't obvious about where the oil is. The USGS has a damned good idea of where a bunch of it is, how about we start with what they say.
 
What's stopping the oil companies? They hold the lease on 68 million acres, which they can currently drill on. Do they not want to drill so as to keep supplies low? With their windfall profits, why don't they reinvest in production? This could create many jobs.
April 28, 2011

"Exxon raised its second-quarter payout 7 percent on Wednesday, while Chevron, while boosted its dividend 8 percent.

Chevron is due to release its quarterly earnings on Friday.

Fatter profit margins at both Exxon and Shell refineries that process crude oil into products such as gasoline, diesel fuel and jet fuel also helped their quarterly earnings."


:eek:
 
Um.. here is a stupid question... If they Buy a lease and there is no oil why hold on to the lease? Why are oil companies against use it or lose it policies?


The leases are probably tax write offs.
 

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