So drilling on Federal/offshore NOT happening..so Obama releasing Strategic Oil!!

[BlindBoo]

A very astute question.

What does releasing oil from the strategic oil reserve accomplish that allowing NEW permitting for oil wells, opening up anwar, and bringing in the keystone pipeline does not accomplish.

On top of that increasing our overall production would be a LONG term supply side solution, unlike this short term solution of releasing reserves (which we have to replace at a high price).


In the end what we truly need is more refineries, no matter how much oil we can produce our gasoline price is still hinged on supply and demand...without new refineries the supply will not go up.



I truly think the Obama admin is intentionally doing things to raise the price of fuel...why?

Times Tough for Energy Overhaul - WSJ.com



Its not like obama didn't tell us he would do this

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

Rig Count: Rotary Rig Count and Workover Rig Count

The Shale oil from Keystone pipeline extention is destin for the export market not use to drive down US Gas prices. Btw the part of the extention to the Texas refineriers needs no federal approval.

A large portion of refineries have closed because they keep improving the ones in existance.

Refinery Capacity Report

Public Citizen Climate and Energy

Are those only oil rigs or oil and gas rigs?
Natural gas drilling is waaay down due to the fall of the price of Natural gas.
business 101. The law of supply and demand seems to work with natural gas but not with oil... Hmm could it be because it cannot be easially transported to other countries?

I believe it is both.

My electric bill is tied to NG prices so I'm loving it.

 

[toxicmedia]

so Venezuela, Kuwait, Nigeria, etc. subsidize as well......? (their prices are even less)

Yes..............

10 Countries with Cheapest Gas Prices in the World | Financial Jesus

how do these countries pay for the subsidies......?

From the taxes generated from revenues from the sale of oil. I Chavez's case, he forceably redistributes the profits from oil companies

 

[ScreamingEagle]

Yes..............

10 Countries with Cheapest Gas Prices in the World | Financial Jesus

how do these countries pay for the subsidies......?

From the taxes generated from revenues from the sale of oil. I Chavez's case, he forceably redistributes the profits from oil companies

in other words the subsidies come from oil profits (or as you say...taxes)....

so why couldn't the people of the US have the same tax arrangement....and get the same low fuel prices....? ...but i know this would puncture the argument that world demand "dictates" our prices....

...btw i'm speaking of our federal lands.....of which we are ALL owners......not to mention we are sitting on the MOTHERLODE.....

 

[healthmyths]

And???

 

[uscitizen]

Cutting taxes on the producers, expanding drilling and refining, and taking the EPA jackboot of the throat of the nuclear industry will not lower gas prices at the pumps.

the price per gallon in Saudi Arabia less than $1/gal...

So the govt should subsidize our gas over here as well?

 

[uscitizen]

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

Rig Count: Rotary Rig Count and Workover Rig Count

The Shale oil from Keystone pipeline extention is destin for the export market not use to drive down US Gas prices. Btw the part of the extention to the Texas refineriers needs no federal approval.

A large portion of refineries have closed because they keep improving the ones in existance.

Refinery Capacity Report

Public Citizen Climate and Energy

Are those only oil rigs or oil and gas rigs?
Natural gas drilling is waaay down due to the fall of the price of Natural gas.
business 101. The law of supply and demand seems to work with natural gas but not with oil... Hmm could it be because it cannot be easially transported to other countries?

I believe it is both.

My electric bill is tied to NG prices so I'm loving it.

Most are going Natural gas.

Palin was gov of alaska and they have plenty of NG so why do they import fuel from Russia to generate electricity?

 

[ScreamingEagle]

Cutting taxes on the producers, expanding drilling and refining, and taking the EPA jackboot of the throat of the nuclear industry will not lower gas prices at the pumps.

the price per gallon in Saudi Arabia less than $1/gal...

So the govt should subsidize our gas over here as well?

damn if we aren't subsidizing other countries......about time we help ourselves....

or should we become like non-oil Europe and pay the same $10/gal....?

 

[toxicmedia]

how do these countries pay for the subsidies......?

From the taxes generated from revenues from the sale of oil. I Chavez's case, he forceably redistributes the profits from oil companies

in other words the subsidies come from oil profits (or as you say...taxes)....

so why couldn't the people of the US have the same tax arrangement....and get the same low fuel prices....? ...but i know this would puncture the argument that world demand "dictates" our prices....

...btw i'm speaking of our federal lands.....of which we are ALL owners......not to mention we are sitting on the MOTHERLODE.....

You don't have to use "other words"...It depends on the country. The Saudiis just make regulations that dissallow gas prices to be above a certain level. In Venezuela's case, Chavez forces domestic oil prices to remain low and dictates the price at the pump. Oil sales can be taxed all to shit, or the government can just say don't charge more than "x".

The amount of gas used in the US dwarfs that of countries like Saudi Arabia, Nigeria, and Venezuela. Our government won't try what Chavez does, because that's not free market capitalism. If we could extract every drop of domestic oil, with a magic wand...the American oil industry would not allow it to be sold below market value, because we're capitalists.

Obama cannot make gas prices go down, Newt cannot make gas prices go down. Drilling for more oil will not make gas prices go down.

Righties are just trying to saddle Obama with something they can use in November.

 

[ScreamingEagle]

From the taxes generated from revenues from the sale of oil. I Chavez's case, he forceably redistributes the profits from oil companies

in other words the subsidies come from oil profits (or as you say...taxes)....

so why couldn't the people of the US have the same tax arrangement....and get the same low fuel prices....? ...but i know this would puncture the argument that world demand "dictates" our prices....

...btw i'm speaking of our federal lands.....of which we are ALL owners......not to mention we are sitting on the MOTHERLODE.....

You don't have to use "other words"...It depends on the country. The Saudiis just make regulations that dissallow gas prices to be above a certain level. In Venezuela's case, Chavez forces domestic oil prices to remain low and dictates the price at the pump. Oil sales can be taxed all to shit, or the government can just say don't charge more than "x".

The amount of gas used in the US dwarfs that of countries like Saudi Arabia, Nigeria, and Venezuela. Our government won't try what Chavez does, because that's not free market capitalism. If we could extract every drop of domestic oil, with a magic wand...the American oil industry would not allow it to be sold below market value, because we're capitalists.

Obama cannot make gas prices go down, Newt cannot make gas prices go down. Drilling for more oil will not make gas prices go down.

Righties are just trying to saddle Obama with something they can use in November.

free market capitalism includes the right to hold some of our own product for ourselves if we wish.....or do you think we owe the world.....?

 

[chikenwing]

Three dollars and eighty cents a gallon on mainstreet today..

401.9 for the low grade,but then New york wants to be ahead of everone.

 

[chikenwing]

Natural gas is sold on the world market just as oil,the increase in supply has pushed prices way down,but spme how oil is exempt from supply/demand rules??

Can't really mean won't.

 

[PLYMCO_PILGRIM]

Exactly, you're prefectly right, about everything.

I know I was right about these comments I made so why did you attack them like I was wrong?

What does releasing oil from the strategic oil reserve accomplish that allowing NEW permitting for oil wells, opening up anwar, and bringing in the keystone pipeline does not accomplish.

On top of that increasing our overall production would be a LONG term supply side solution, unlike this short term solution of releasing reserves (which we have to replace at a high price).


In the end what we truly need is more refineries, no matter how much oil we can produce our gasoline price is still hinged on supply and demand...without new refineries the supply will not go up.

I should have never attacked you like you were wrong. My simple mind is nothing compared to your vastly superior intellect. You're like Hannibal Lechter to my Ray Liotta. Playing with my mind and pulling the puppet strings.

All the oil in Anwar, and all the oil shipped through the Keystone pipeline for 20 years, will not bring down the price of gas at the pumps.

Increasing oil production in the US will not bring gas prices at the pump down.

Your sarcasm is noted as is your lack of reading comprehension.

 

[PLYMCO_PILGRIM]

A very astute question.

What does releasing oil from the strategic oil reserve accomplish that allowing NEW permitting for oil wells, opening up anwar, and bringing in the keystone pipeline does not accomplish.

On top of that increasing our overall production would be a LONG term supply side solution, unlike this short term solution of releasing reserves (which we have to replace at a high price).


In the end what we truly need is more refineries, no matter how much oil we can produce our gasoline price is still hinged on supply and demand...without new refineries the supply will not go up.



I truly think the Obama admin is intentionally doing things to raise the price of fuel...why?

Times Tough for Energy Overhaul - WSJ.com

In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.

Its not like obama didn't tell us he would do this

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

Rig Count: Rotary Rig Count and Workover Rig Count

The Shale oil from Keystone pipeline extention is destin for the export market not use to drive down US Gas prices. Btw the part of the extention to the Texas refineriers needs no federal approval.

A large portion of refineries have closed because they keep improving the ones in existance.

Refinery Capacity Report

Public Citizen Climate and Energy

The new oil rigs you are talking about were from contracts signed between oil companies and the feds under bush.

Exploration is up but permitting for new drilling is actually down...it does not good to find oil if once it is found the govt won't give the permits to drill for it.

Yes refining has moved forward with technology however we have not increased the supply of gasoline at the same rate as demand has grown, in fact demand has been growing faster than supply. This is PART of the high prices right now, more refineries would increase the supply and have a downward effect on gasoline prices.

 

[Syphon]

the oil and gas industry is sitting on 7200 unused drilling permits. why dont they just use those ones?
Oil and Gas Industry Sitting on 7,200 Drilling Permits - NYTimes.com

 

[uscitizen]

The oil industry just wants the permits for control of the oil not to necessarially drill right now.
Remember Alaska trying to rescind leases because they had not been drilled after a decade?

 

[Toddsterpatriot]

There is nothing Obama or Bush could have done, nor is there anything Obama could do, or will do...that will affect gas prices.

With the exception of invading more middle eastern countries.

Obama could have signed keystone, allowed permitting for NEW refineries (which have been blocked), given NEW drilling contracts instead of taking credit for contracts signed under bush, he could push for opening up anwar.

Please...there is plenty obama could do.

None of those things would affect the price of gas at the pumps, and not even years later.

The threat of losing Iranian production causes prices to spike now, even when production is going full speed.
Threatening to increase American production won't cause prices to fall? Why not?
How about actually increasing production? That wouldn't help?

 

[BlindBoo]

A very astute question.

What does releasing oil from the strategic oil reserve accomplish that allowing NEW permitting for oil wells, opening up anwar, and bringing in the keystone pipeline does not accomplish.

On top of that increasing our overall production would be a LONG term supply side solution, unlike this short term solution of releasing reserves (which we have to replace at a high price).


In the end what we truly need is more refineries, no matter how much oil we can produce our gasoline price is still hinged on supply and demand...without new refineries the supply will not go up.



I truly think the Obama admin is intentionally doing things to raise the price of fuel...why?

Times Tough for Energy Overhaul - WSJ.com



Its not like obama didn't tell us he would do this

The U.S. rotary rig count was down 16 at 1,973 for the week of March 9, 2012. It is 258 rigs (15.0%) higher than last year.

The number of rotary rigs drilling for oil was up 3 at 1,296. There are 469 more rigs targeting oil than last year. Rigs drilling for oil represent 65.7 percent of all drilling activity which is the highest percentage since 1998.

Rigs directed toward natural gas were down 21 at 670. The number of rigs currently drilling for gas is 212 lower than last year's level of 882.

Year-over-year oil exploration in the U.S. is up 56.7 percent.

Rig Count: Rotary Rig Count and Workover Rig Count

The Shale oil from Keystone pipeline extention is destin for the export market not use to drive down US Gas prices. Btw the part of the extention to the Texas refineriers needs no federal approval.

A large portion of refineries have closed because they keep improving the ones in existance.

Refinery Capacity Report

Public Citizen Climate and Energy

The new oil rigs you are talking about were from contracts signed between oil companies and the feds under bush.

Exploration is up but permitting for new drilling is actually down...it does not good to find oil if once it is found the govt won't give the permits to drill for it.

Yes refining has moved forward with technology however we have not increased the supply of gasoline at the same rate as demand has grown, in fact demand has been growing faster than supply. This is PART of the high prices right now, more refineries would increase the supply and have a downward effect on gasoline prices.

In the wake of the Gulf oil spill, They have approved over 400 drilling permits. In fact, they are now permitting at levels seen before the spill, all while meeting these important new safety standards.

Capacity stable

U.S. Number and Capacity of Petroleum Refineries

Demand down.

UPDATE 1-US gasoline demand down 7 pct yr/yr as price rises -MasterCard | Reuters

The refineries are still operating at near capacity. They're exporting what we don't use.

 

[toxicmedia]

I know I was right about these comments I made so why did you attack them like I was wrong?

What does releasing oil from the strategic oil reserve accomplish that allowing NEW permitting for oil wells, opening up anwar, and bringing in the keystone pipeline does not accomplish.

On top of that increasing our overall production would be a LONG term supply side solution, unlike this short term solution of releasing reserves (which we have to replace at a high price).


In the end what we truly need is more refineries, no matter how much oil we can produce our gasoline price is still hinged on supply and demand...without new refineries the supply will not go up.

I should have never attacked you like you were wrong. My simple mind is nothing compared to your vastly superior intellect. You're like Hannibal Lechter to my Ray Liotta. Playing with my mind and pulling the puppet strings.

All the oil in Anwar, and all the oil shipped through the Keystone pipeline for 20 years, will not bring down the price of gas at the pumps.

Increasing oil production in the US will not bring gas prices at the pump down.

Your sarcasm is noted as is your lack of reading comprehension.

Your outrageous bold fonts, and insults, are noted as proof I've hit a nerve.

Sorry to get you so angry.

Ooops.

 

[The Infidel]

I should have never attacked you like you were wrong. My simple mind is nothing compared to your vastly superior intellect. You're like Hannibal Lechter to my Ray Liotta. Playing with my mind and pulling the puppet strings.

All the oil in Anwar, and all the oil shipped through the Keystone pipeline for 20 years, will not bring down the price of gas at the pumps.

Increasing oil production in the US will not bring gas prices at the pump down.

Your sarcasm is noted as is your lack of reading comprehension.

Your outrageous bold fonts, and insults, are noted as proof I've hit a nerve.

Sorry to get you so angry.

Ooops.

Then stop being so GAWD DAMNED stupid!


Tell us all with your vast intellectual capabilities what WOULD lower gas prices???

You tell everybody their solutions wont work, but you offer up no solutions of your own.

PLYMCO_PILGRIM is dead on..

 

[toxicmedia]

Obama could have signed keystone, allowed permitting for NEW refineries (which have been blocked), given NEW drilling contracts instead of taking credit for contracts signed under bush, he could push for opening up anwar.

Please...there is plenty obama could do.

None of those things would affect the price of gas at the pumps, and not even years later.

The threat of losing Iranian production causes prices to spike now, even when production is going full speed.
Threatening to increase American production won't cause prices to fall? Why not?
How about actually increasing production? That wouldn't help?

Threatening to increase American production won't cause prices to fall, it would just increase exports, and all the oil we bring up will be sold at market rates.