jreeves
Senior Member
- Feb 12, 2008
- 6,588
- 319
- 48
JR, you said the Fed should lend the oil companies the money to build refineries...why should we?
To eliminate any and all excuses by oil companies...
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JR, you said the Fed should lend the oil companies the money to build refineries...why should we?
sighTo eliminate any and all excuses by oil companies...
sigh
If the oil companies NEEDED to build refineries to maintain profit, they would.
There is no shortage of gasoline.
sigh
If the oil companies NEEDED to build refineries to maintain profit, they would.
No matter how badly you may want it, the blame for the current crisis can not be placed Solely at the feet of Oil companies. No matter how many times you deny it, building new Refineries and Drilling for more of our own oil WILL help.
It would cause a faint decrease in price in 7-10 years.
It would cause a faint decrease in price in 7-10 years.
If we cut our consumption of oil, we won't need any more refineries.
"My attitude is that we can find some sort of compromise," Obama told the Times shortly after talking with voters at Gibbs High School. "If it is part of an overarching package, then I am not going to be rigid in preventing an energy package that goes forward that is really thoughtful and is going to really solve the problem."Go figure.
But the energy companies are filling our governments coffers. In 2006, the top 27 U.S. energy producing companies paid 21% of the total corporate income taxes ($81.5 billion) collected by the federal government. These 27 companies were responsible for 44% of the total U.S. crude oil and natural gas production, and 81% of domestic refining capacity.(API) In fiscal year 2006, $10.48 billion was also collected in the form of bonus bids, rents and royalties from oil and gas companies operating on Federal lands. (Interior Budget in Brief 2009)
I found this from Colorado also.
It is a pdf so can't high light and quote from it.
If you page down you will find the Lease agreement which states 12.5 percent of any production on the land.
http://www.blm.gov/pgdata/etc/media....Par.11866.File.dat/Aug. 2008 Sale Notice.pdf
Very foolish Ravi. Environmentalists have blocked every effort at building new refineries for 30 years. Oil Companies have tried to build new ones, and have been sued and forced to stop.
Nobody is saying there is a shortage of Gas, what there is, is very tight supply. I am a trucker, and I can tell you that there is a very big problem with refineries. They are only able to refine one product at a time. That is why diesel costs more than gas even though Diesel is less refined than Gas. The refineries are forced to refine the thing in highest demand first, and Gas is in Highest demand. That is why Diesel costs almost 5 dollars a gallon even tough it is far cheaper to make than Gas.
Gas is traded just like oil, on a speculative Futures market. That is why when there is the treat of a hurricane in the gulf, the price spikes. That is why if we simply announce we are going to allow the building of New Refineries and the Drilling of Oil, prices will respond by going down. The only reason there is not a shortage of Gas is precisely because the futures markets have seen the tight supply and driven the price up. It is pretty clear by your comment you have little understanding how speculative futures markets work.
No matter how badly you may want it, the blame for the current crisis can not be placed Solely at the feet of Oil companies. No matter how many times you deny it, building new Refineries and Drilling for more of our own oil WILL help.
Refineries?
I don't know if your talking point is true or not. Several posters have posted articles about areas of the country where refineries are welcome but the business doesn't want to build them.
I do know that many oil refineries have expanded and that close to a hundred have been closed instead of retrofitted or because of industry mergers.
Truckers waste millions of gallons a gas during their down time. You want your diesel prices to come down, then organize and figure out a way to stay comfortable during down time.
If pigs could fly they would...
We need to develop alternative energy sources that are cheaper than oil before we can begin the process of phasing oil out of the economy.