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ANALYSIS-US oil firms seek drilling access, but exports soar | Markets | ReutersWASHINGTON, July 3 (Reuters) - While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.
A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.
The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.
"We can help alleviate shortages by drilling for oil and gas in our own country," President Bush told reporters this week. "We have got the opportunity to find more crude oil here at home."
And yet so many of the posters here believe the oil companies aren't in it for the money.
ANALYSIS-US oil firms seek drilling access, but exports soar | Markets | Reuters
So, are we stupid Mr. Bush?
just because we drill here does not mean it stays here first
Exactly, that is what I've been saying all along. But most of those that support drilling and building more refineries refuse to acknowledge this simple fact.
There is no shortage of gasoline. There is no reason to produce more of what we already have in abundance except for the profit of the oil companies.
Pretend for a minute that somebody in government does something and the price of oil does go down in the US. Totally hypothetical obviously.
Do the oil companies keep selling to US costumers, or do they export more oil to sell at a higher price somewhere else?
Hmmmm...
Exactly, that is what I've been saying all along. But most of those that support drilling and building more refineries refuse to acknowledge this simple fact.
There is no shortage of gasoline. There is no reason to produce more of what we already have in abundance except for the profit of the oil companies.
No... again... you just do not get it....
1) Who makes more profit on gas... the oil companies or the US government thru taxation?
2) Worldwide demand will drive up current and speculated prices
3) Even the threat to put more oil into the market can and will drive prices down
There is not an "abundance" of gas... it is directly in line with how much oil we are able to purchase and refine... and when the price of the crude increases, the price of the gas will increase
I suggest looking closely... even though the profits for oil companies are high, the ratio of profit to expenditure (profit ratio) is not very high... it just happens to be the most widely used commodity...
Reality won't help, these idiots do not grasp the concept that the oil companies are in fact not racking in more PROFIT then before. What they have just costs more to buy and sell and refine, so raw numbers go UP.
Heard that "the Dark Knight " may top Titanic as the greatest money maker ( in raw numbers) but that in order to equal it in ticket sales it would need to top 900 Million not the 600 million that Titanic made.
How can you say that? Exxon/Mobil earned about 8 Billion in profits a year when Bush took over. Now it's 40 Billion.
That isn't earnings... it's profits.
You actually think any of us believe a FOR PROFIT company is not " in it for the money"? More delusional rantings from someone that can not remember to use her brain as anything but a hat rack.
Why don't they test the limits then and charge us $5 a gallon?
Pretend for a minute that somebody in government does something and the price of oil does go down in the US. Totally hypothetical obviously.
Do the oil companies keep selling to US costumers, or do they export more oil to sell at a higher price somewhere else?
Hmmmm...
I agree with you on this one. I think windfall taxes are wrong, and of course they'll just push the costs off on us...though it would make us mad enough to want to explore other options.Elect the idiot Obama. Have him try his proposal of seizing the oil company profits for wealth redistribution (as he has proposed). And watch gas go that high very quickly, and watch it keep going higher.
Again... .look at the profit margins.... as use of a commodity or product increases (and before the typical lib comment of the US consumption only being slightly increased, look at global consumption... because the oil companies do not just deal with US consumption) numbers, including profits, will increase
Just quit with the typical 'But Bush' statements.... it just shows more drinking of the liberal kool-aid
So the price goes down here and the oil companies jack up the prices they charge the rest of the world? Fine. But then why would the rest of the world buy from them at $150 a gallon when they can buy from Iran, Venesuela or Saudi Arabia for $140?
If Exxon won't sell us oil for a $8 billion dollar profit, I'm sure another oil company would be glad to take over US oil fields and refineries.
Let's pretend, hypothetically, that we take away the oil fields the American oil companies are sitting on and we give it to a competitor.
So basically you all admit the oil companies own America and there is nothing we can do but pay what they say. Pussies, all of you.
I bet you defend the mafia too. And when they send their collection boys around to get the dues you owe them, you don't even complain.
the percentage the oil companies are making in profit off each dollar is INCREASING as well, not JUST their profit dollars but their profit MARGIN has risen dramatically....
so even if they did not sell one drop more than the previous year, and the prices of oil did not go up one penny from one year to the next, the oil companies would STILL be much more profitable because they raised their profit MARGIN(percent) by a 65% increase....they were attaining about 6.5% in their profit margin and now they are attaining %10.5 in their profit margin(exxon/mobile)....THIS HAS NOTHING to do with their profit DOLLARS being up because the price of oil has gone up, thus adding higher revenues/sales....this is their choice to raise what they were getting in profit margin to a much, much much higher profit margin....they are making more on every dollar, NOT JUST generating more revenue dollars from oil being higher.
care
"Take away"
Yet another strong socialist statement brought to you by someone so far left, that if light were emitted from the center of the political spectrum, it would take 24284522 years to reach bobo
