Drill! Drill! Drill!

[muttamerican]

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.

 

[Tristan]

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.

There need be enough oil under that "68 million acres", verses the rest of the land on the Earth where the government arbitrarily allowes them to drill, to make it worth their while.

You think they don't want to profit from said "windfall" while foreign oil companies reap it? Do you know American oil companies paid nearly 3X in taxes what they made in profit? Do you know what profit is? Do you think one company or one countries oil companies can keep prices low at will and no other company would take advantage of them by dominating market share?

What planet do you come from?

 

[DiamondDave]

If there were a viable source of oil under th eland they have under lease, they WOULD drill... just because they are given land, does not mean there is oil there. Just because they choose land, is not an inherent guarantee there is oil there (though technology and science has made the probability of their success much better).

Stop getting spoon-fed by the liberal media and left-wing propaganda... look at the big picture, think logically, and think rationally..

 

[Care4all]

If there were a viable source of oil under th eland they have under lease, they WOULD drill... just because they are given land, does not mean there is oil there. Just because they choose land, is not an inherent guarantee there is oil there (though technology and science has made the probability of their success much better).

Stop getting spoon-fed by the liberal media and left-wing propaganda... look at the big picture, think logically, and think rationally..

Please Dave...WHY DID THEY LEASE THE LAND then, if there was no oil?

That seems pretty nonsensical and it is nonsensical.

They reviewed geological surveys from USGS, with estimates of the oil before they decided to sign a LEASE for these lands....

And if they do not think the land has oil and this is why they are not drilling, then they should release themselves from their leases....BUT THEY ARE NOT?

Even in the gulf, they have geological suveys that the USGS has done, that gives us the estimate of oil in areas of the gulf...to review BEFORE they sign a lease.....?

Care

 

[DiamondDave]

Jesus Christ Care... do you every really think??

Not every test well and every parcel of land, even when chosen, can produce the necessary oil it needs to be a productive well, let alone really has any oil at all

Remember that the key words are probability and ESTIMATE (which you even used)...

If there was viable oil on these lands, the companies would be drilling... plain and simple

And I have to look at the stipulations for releasing from a lease.... but it is not as simple as walking away, most probably

 

[Care4all]

Jesus Christ Care... do you every really think??

Not every test well and every parcel of land, even when chosen, can produce the necessary oil it needs to be a productive well, let alone really has any oil at all

Remember that the key words are probability and ESTIMATE (which you even used)...

If there was viable oil on these lands, the companies would be drilling... plain and simple

And I have to look at the stipulations for releasing from a lease.... but it is not as simple as walking away, most probably

good morning Dave,

Sooooooooo, the USGS's estimates for the gulf and oil being there are all willy nilly too and not at all even close to being something that is REAL?

in other words, there is a possibility that there is NO OIL in the gulf, regardless of the USGS geological surveys of such?

I have to admit, i know nothing about geological surveys regarding oil pressense below ground or how they even scientifically come to their conclusions...it is something i will try to do more reading on so i will not be so ignorant on this particular topic....

care

 

[DiamondDave]

Care... always need to take things further?

No... there is no guarantee, even with the best science behind it... science CAN BE WRONG (see man made global warming for even more proof of that)

They deal in historical statistics, historic findings off data, etc... but even when there is oil, it is not always in the same place as anticipated... even if they find oil, it is not always in the quantities needed...

There are possibilities there is "no" oil in the Gulf... a very remote possibility... just as then you must agree that there is a very remote possibility that there is quintuple the amount of oil that think is there.... another very remote possibility

see the tables can turn too...

 

[Jeepers]

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?

 

[Care4all]

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?

Maybe THEY want to control ALL DRILLING, so that they can manipulate the market of supply and demand to benefit themselves the most? I dunno?

 

[DiamondDave]

Maybe THEY want to control ALL DRILLING, so that they can manipulate the market of supply and demand to benefit themselves the most? I dunno?

 

[Care4all]

no, it is called thinking outside of the ''box'', not being herded in to an opinion by my party or by anyone really! i'm a free spirited shrew, i suppose! hahahaha!

care

 

[editec]

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?

Yesh...your rhetorical question is a good example of someone being stupid like a fox, Jeep.

Nice!

 

[Tech_Esq]

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?

They hold it on a use it or lose it basis already. The leases are only good for 5-10 years (depending) if they are not used.

 

[Tech_Esq]

[rant]

Ok, I got brand new idea.....How about we stop the fucking cat and mouse game about the 68 million fucking acres and allow drilling where everyone agrees there is oil? I mean really, how fucking hard is this. Drill where the oil is.

You eco-nuts can have your 68 million acres of non-productive useless land back and give the oil companies 2,000 acres in ANWR OK? Or, are the caribou higher on the respect level of animals that would be effected than whatever lives in the 68 million acres? Just stop it already and let people drill where the god damned oil is.

Geeze! [/rant]

 

[Jeepers]

Its not about being an econut dumbass.. its about why you cats are all fired up now to tap that oil in the next five minutes.... Me personally, I'd have pushed for oil independance after losing a few thousand people in a terrorist attack on 9/11.. but hey thats me... I'm all about America and not my Saudi buddies...

Seriously.. Why now are you idiots pushing for oil drilling now... is it because gas prices are high? Cause... drilling isnt going to do anything about that during the entire next term. is it because democrats are set to take over? Is it because republican leaders have failed the middle class citizens of this nation miserably and need a distractionary talking point.

 

[AllieBaba]

It's because it's idiotic to get oil from foreigners when we have it right here.

 

[Tech_Esq]

Its not about being an econut dumbass.. its about why you cats are all fired up now to tap that oil in the next five minutes.... Me personally, I'd have pushed for oil independance after losing a few thousand people in a terrorist attack on 9/11.. but hey thats me... I'm all about America and not my Saudi buddies...

Seriously.. Why now are you idiots pushing for oil drilling now... is it because gas prices are high? Cause... drilling isnt going to do anything about that during the entire next term. is it because democrats are set to take over? Is it because republican leaders have failed the middle class citizens of this nation miserably and need a distractionary talking point.

Why would you have waited until people were killed? How do you get off assuming that people are "Johnny come lately" to the desire to drill. That's a big ass assumption. I've been pushing for it since at least 1992. If it would take ten years to see it (which it doesn't, but that's the current vogue disinformation) we would have been swimming in oil for the 6 years if dems hadn't vetoed the damn thing. Thank your hero Bill Clinton for that.

Now stop changing the subject. Why not drill where the oil is? We all know where it is, let's go get it. Take your millions of acres back and let's go get some damn oil.

 

[Ravi]

I don't know if anyone has noticed, but gas prices are dropping from a combination of conservation and a slightly stronger dollar.

There's no need to drill. There's no shortage of gas and no shortage of oil.

 

[DiamondDave]

I don't know if anyone has noticed, but gas prices are dropping from a combination of conservation and a slightly stronger dollar.

There's no need to drill. There's no shortage of gas and no shortage of oil.

Nah.. could not have ALSO been influenced by Bush's cutting of the Executive Federal ban...

Also good to go back and stick our heads in the sand and bring this up again when prices re-rise... global demand is not going to get LOWER

 

[midcan5]

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.

You drinking this early? The fools are feeding at the trough, why get into speculative ventures that may cost more than they return. Business ain't for low prices if the high prices are being paid.