Environmentalists forced Deepwater Drilling?

[NYcarbineer]

That is of course preposterous enough to dismiss without comment, but, what the hell, let's pile on some.

The Royalty Boondoggle

(published February 2010)

In 1995, when oil prices were very low, Congress tried to encourage deep-water drilling in the Gulf of Mexico by giving oil companies relief from some of the royalties they incur for producing oil and gas on public land.

It has never been clear how much new exploration this provision inspired, since steadily rising prices provided plenty of incentive. What is clear is that it has been a good deal for the industry and a bad deal for taxpayers. According to the Government Accountability Office, the provision could allow industry to escape up to $54 billion in legitimate royalties, depending on the price of oil.

Editorial - The Royalty Boondoggle - NYTimes.com

 

[Old Rocks]

$54,000,000,000. That would build a lot of grid, put in a lot of windmills, solar, and geothermal.

And the dingleberry Conservatives have the balls to complain about the penny ante subsidies that the alternative energy companies get.

 

[hortysir]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

 

[Old Rocks]

Translation, we, the taxpayers, gave $54 billion to oil companies that have been charging us exorbent prices for the oil off of the taxpayers land.

 

[gslack]

Translation, we, the taxpayers, gave $54 billion to oil companies that have been charging us exorbent prices for the oil off of the taxpayers land.

Translation = I oldsocks will baffle this thread with bullshit now...

 

[Oddball]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

Exactly.

Why would companies like BP even be bothering with deep water drilling, if they were able to drill and produce in places like Santa Barbara, where you could well strike a gusher if you chunked your approach shot to the 4th green at the golf course?

 

[NYcarbineer]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

Are you denying the fact that Congress gave big oil a discount on royalties? Are you contending they did it for no reason?

 

[NYcarbineer]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

So you reject the simple principle that lowering the cost of doing business is an incentive to expand business?

I guess all those tax breaks for businesses serve no purpose.

 

[Oddball]

Lowering the taxes/royalties of an already high cost-to-potential-benefit venture only makes sense...Well, except to people who have no sense.

 

[NYcarbineer]

US royalties for oil on federal lands and waters:

12 to 16%

Compared to

United Kingdom: 52%

Norway: 76%

Australia: 61%

...and Alaska: 53%.

Steve Colby: Drilling Would Help No One But Mismanaged Oil Industry

...but of course no one's drilling in those other places so we couldn't possibly get more for our oil.

 

[NYcarbineer]

Lowering the taxes/royalties of an already high cost-to-potential-benefit venture only makes sense...Well, except to people who have no sense.

You got pre-emptively rolled in my post below.

lol, good timing...

 

[Oddball]

Norway?!?!?!?

I'd ask if you were serious, if I didn't already know that you were!

...speaking of pre-emptive!

 

[Mad Scientist]

$54,000,000,000. That would build a lot of grid, put in a lot of windmills, solar, and geothermal.

Do you use any of these? How are they working out for you? Be honest now.

I used to live near Palm Springs California where there is a huge wind farm complex. Funny thing is is that my electric bill here in PA, no wind farms, averages about 1/2 to 1/3 what it was in California.

Why do yo suppose that is?

 

[Old Rocks]

8% of Oregon's power comes from wind. And that amount will continue to rise. How is solar working out for Oregon? Three big manufacturing complexes in the building right now. A fourth one likely to start this year. All together, over Gw of solar power a year will be manufactured here for sure, more likely 2 Gw and additions will be built on existing complexes to increase the total even more.

 

[geauxtohell]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

Hey, if the guy with 500 posts says it, it must be true.

 

[jillian]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

corporate oil getting relief from money that should rightfully go to us is trolling?

i'll keep that in mind.

 

[NYcarbineer]

Norway?!?!?!?

I'd ask if you were serious, if I didn't already know that you were!

...speaking of pre-emptive!

Tell us why we shouldn't get 50% in royalties when other countries, not to mention our own states, can?

Entertain us with a brilliant rationale for that.

 

[Ravi]

That is of course preposterous enough to dismiss without comment, but, what the hell, let's pile on some.

The Royalty Boondoggle

(published February 2010)

In 1995, when oil prices were very low, Congress tried to encourage deep-water drilling in the Gulf of Mexico by giving oil companies relief from some of the royalties they incur for producing oil and gas on public land.

It has never been clear how much new exploration this provision inspired, since steadily rising prices provided plenty of incentive. What is clear is that it has been a good deal for the industry and a bad deal for taxpayers. According to the Government Accountability Office, the provision could allow industry to escape up to $54 billion in legitimate royalties, depending on the price of oil.

Editorial - The Royalty Boondoggle - NYTimes.com

The fact is that the oil companies will drill wherever they are allowed to drill. They are interested in profit. I am glad that at least we haven't raped the interior of the country to assuage our thirst for oil.

I'd personally love to smack everyone upside the head that repeats this retarded bullshit. Only stupid people could believe it...and only the stupid and the liars will repeat it.

 

[NYcarbineer]

$54,000,000,000. That would build a lot of grid, put in a lot of windmills, solar, and geothermal.

Do you use any of these? How are they working out for you? Be honest now.

I used to live near Palm Springs California where there is a huge wind farm complex. Funny thing is is that my electric bill here in PA, no wind farms, averages about 1/2 to 1/3 what it was in California.

Why do yo suppose that is?

My electric rate is a fraction of what people 10 miles down the road from me pay.

Why do you suppose that is?

It's because I'm in a NON-PROFIT co-op and they're customers of a FOR-PROFIT utility company.

ha

 

[The T]

It has never been clear how much new exploration this provision inspired,

Translation: Troll-Thread

Exactly.

Why would companies like BP even be bothering with deep water drilling, if they were able to drill and produce in places like Santa Barbara, where you could well strike a gusher if you chunked your approach shot to the 4th green at the golf course?