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Oil companies affect the global price of oil by limiting their production. Also, oil companies own far more drilling rights than they use; in many areas, they wait until a "suitable" global price is attained before they incur the expense of production (some areas are more costly to extract than others, and the quality of the crude is lower).
So the President actually has very, very little effect upon the actions of oil companies--let alone, the price of refined gasoline at the pump. If Willard Romney didn't know this, he's stupid. If he think he can have any material effect on prices, he's stupid. If he knows all this and misled listeners, he's a liar.
DUH
Years ago I remember reading how the oil companies lease oil lands and let the lands sit waiting. Apparently the practice has been going on for some years, long before Obama's charges. The truth is easy enough to check and one would think some might just do that before posting.
You think the government isn't making money from idle leases? The initial per acre payment can be astronomical, and depending on the term (usually 1-5 years) anual delay rentals can be just as pricey.
The issue wasn't about making money on leases, the Obama administration's priority was to increase supplies as quickly as possible to bring down gas prices. Idle leases are counterproductive to the interests of the majority of Americans, and we are talking about PUBLIC lands here.
In a blog by Breitbart on the 10 big lies of the debate, there is this:
4. "And the production is up....What youre saying is just not true." Obama contested a claim by Romney that production of oil and gas is down on federal lands. He even accused Romney of not telling the truth. But Romney was right--exactly right, down to the percentage decline. Furthermore, Obama's claim that he has been increasing oil and gas production on federal lands flies in the face of recent policy decisions, such as closing off a large part of the National Petroleum Reserve-Alaska to further development. Obama has tried to take credit for expansion on private lands, while opposing expansion wherever possible.
Chris Wallace then pointed out that oil production of public lands is DOWN 62%!
I cannot believe that anybody can speak in front of 60 million American and lie like Obama did.
In a blog by Breitbart on the 10 big lies of the debate, there is this:
4. "And the production is up....What youre saying is just not true." Obama contested a claim by Romney that production of oil and gas is down on federal lands. He even accused Romney of not telling the truth. But Romney was right--exactly right, down to the percentage decline. Furthermore, Obama's claim that he has been increasing oil and gas production on federal lands flies in the face of recent policy decisions, such as closing off a large part of the National Petroleum Reserve-Alaska to further development. Obama has tried to take credit for expansion on private lands, while opposing expansion wherever possible.
Chris Wallace then pointed out that oil production of public lands is DOWN 62%!
I cannot believe that anybody can speak in front of 60 million American and lie like Obama did.
He is a master liar, he doesn't find anything wrong with it. He never has. What has gotten me, even before the election of 2008, while out campaigning, women, who are more apt to have that sixth sense, did not see through him. I guess this explains those that do not recognize abusive relationships before they get in them. They just are not in tune to their own senses. They fall for the charm, without examining the apparent flaws. It saddens me. I am hoping the charm has worn off by now, and they are allowing that sense to wake them up this time around.
Oil companies affect the global price of oil by limiting their production. Also, oil companies own far more drilling rights than they use; in many areas, they wait until a "suitable" global price is attained before they incur the expense of production (some areas are more costly to extract than others, and the quality of the crude is lower).
So the President actually has very, very little effect upon the actions of oil companies--let alone, the price of refined gasoline at the pump. If Willard Romney didn't know this, he's stupid. If he think he can have any material effect on prices, he's stupid. If he knows all this and misled listeners, he's a liar.
DUH
The regulatory "standards" on refineries, depotoo, were advocated by the oil companies. Those regulations effectively prevent competitors from building new refineries and driving down prices through competition.
This is one of the grand outcomes of political corporate capitalism.
The regulatory "standards" on refineries, depotoo, were advocated by the oil companies. Those regulations effectively prevent competitors from building new refineries and driving down prices through competition.
This is one of the grand outcomes of political corporate capitalism.
oh really? Can you prove that to me?
The regulatory "standards" on refineries, depotoo, were advocated by the oil companies. Those regulations effectively prevent competitors from building new refineries and driving down prices through competition.
This is one of the grand outcomes of political corporate capitalism.
oh really? Can you prove that to me?
What? You need "proof" that there is strong corporate influence in our government agencies? That's a funny thought.
Production on public lands is down compared to the 2010 numbers, but still up compared to the last two years of the Bush Administration. The question ought to be why are oil companies not producing. Are they trying to manipulate price, or is world demand down.
And use it or lose it makes sense. If Exxon-Mobil doesn't want to produce on their leases, why shouldn't the leases go to Shell or a company that is willing to produce. These are PUBLIC lands, and we have a National interest in oil production.
Production on public lands is down compared to the 2010 numbers, but still up compared to the last two years of the Bush Administration. The question ought to be why are oil companies not producing. Are they trying to manipulate price, or is world demand down.
And use it or lose it makes sense. If Exxon-Mobil doesn't want to produce on their leases, why shouldn't the leases go to Shell or a company that is willing to produce. These are PUBLIC lands, and we have a National interest in oil production.
So we are nationalizing oil now?
Production on public lands is down compared to the 2010 numbers, but still up compared to the last two years of the Bush Administration. The question ought to be why are oil companies not producing. Are they trying to manipulate price, or is world demand down.
And use it or lose it makes sense. If Exxon-Mobil doesn't want to produce on their leases, why shouldn't the leases go to Shell or a company that is willing to produce. These are PUBLIC lands, and we have a National interest in oil production.
So we are nationalizing oil now?
No, but Public Land is still Public Land. It seems that the right wing idiots are the ones who think we have a Caesar Chauvez style oil production. These morons think that we can force the oil companies to run at full capacity and sell to the Americans at a discount to world prices.
The bottom line is still the same. Oil production is up, on public land, under the Obama Administration.
March 15, 2012
The Energy Information Administration (EIA) just released its report, Sales of Fossil Fuels Produced on Federal and Indian Lands, FY 2003 Through FY 2011. This report shows that total fossil fuel production on federal lands is falling, natural gas production on federal lands is falling, and oil production on federal land fell in 2011 ending two years of increase. Specifically the new EIA report shows:
Fossil fuel (coal, oil, and natural gas) production on Federal and Indian lands is the lowest in the 9 years EIA reports data and is 6 percent less than in fiscal year 2010.
Crude oil and lease condensate production on Federal and Indian lands is 13 percent lower than in fiscal year 2010.
Natural gas production on Federal and Indian lands is the lowest in the 9 years that EIA reports data and is 10 percent lower than in fiscal year 2010.
Natural gas plant liquids production on Federal and Indian lands is 3 percent lower than in fiscal year 2010.
Coal production on Federal and Indian lands is the lowest in the 9 years of data that EIA reported and is 2 percent lower than in fiscal year 2010.
