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Thread: China invests in Canada oil sands

  1. #31
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    Re: China invests in Canada oil sands

    Quote Originally Posted by tlmorg02 View Post
    It seems this discussion has taken a turn of which I had not intended. I did not call for the government to subsidize oil, nor manipulate the market. I simply intended that the goverment purchase rights to drill in these areas, of which in time of energy crisis or energy inflation to levels seen last year, the government could sell these rights to private oil companies who could then pump the oil under economical viable conditions. This is neither manipulation or subsidization, it is simply buying rights to drill and selling those rights at a future market value when said necessity determines.
    Estimated U.S. oil shale reserves total an astonishing 1.5 trillion barrels of oil - or more than five times the
    stated reserves of Saudi Arabia.
    Why not mine (mine, not drill) our own?

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    Re: China invests in Canada oil sands

    Quote Originally Posted by Crunch View Post
    Why not mine (mine, not drill) our own?
    Are you saying have the government mine the oil and sell it itself?

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    Re: China invests in Canada oil sands

    Quote Originally Posted by dragondad View Post
    Exactly!

    You are calling for tax dollars to be used to speculate in the Energy Industry.

    You "speculate" that the price of oil will exceed $70 per barrel and that this operation will become a money maker at some point in the future.
    Are you saying that Canada is selling the US oil at a loss?

    As a result of the development of Canadian oil sands reserves, 44% of Canadian oil production in 2007 was from oil sands, with an additional 18% being heavy oil, while light oil and condensate had declined to 38% of the total.[6] Because growth of oil sands production has exceeded declines in conventional crude oil production, Canada has become the largest supplier of oil and refined products to the United States, ahead of Saudi Arabia and Mexico.

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    Re: China invests in Canada oil sands

    Quote Originally Posted by tlmorg02 View Post
    Are you saying have the government mine the oil and sell it itself?
    Hell NO!!!! Just allow US oil companies to mine our own HUGH oil sand deposits.

    (Not to mention drill our own Hugh reserves)

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    Re: China invests in Canada oil sands

    Quote Originally Posted by Crunch View Post
    Hell NO!!!! Just allow US oil companies to mine our own HUGH oil sand deposits.

    (Not to mention drill our own Hugh reserves)
    No problem as long as they pay for the right to drill or mine on the land. Oil companies have a history of not paying their leases to the government. Bush Sr. and Clinton both allowed them to take the oil for free, very stupid as the companies reaped huge profits on taxpayer land.

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    Re: China invests in Canada oil sands

    Quote Originally Posted by tlmorg02 View Post
    No problem as long as they pay for the right to drill or mine on the land. Oil companies have a history of not paying their leases to the government. Bush Sr. and Clinton both allowed them to take the oil for free, very stupid as the companies reaped huge profits on taxpayer land.
    It is a problem.... Gov. org won't allow any new drilling anywhere, won't allow the mining of the oil sands, won't allow construction of any new distilleries, and have made the building of nuclear power plants impossible through their Byzantine permit process... yet they professes to want us to be energy self sufficient.

    I call BS.

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    Re: China invests in Canada oil sands

    Moderator's Warning:
    China invests in Canada oil sandsThat will be just about enough of the name calling and personal attacks. Using derogatory names, such as coonass, is not acceptable.
    Welfare (Food Stamps, WIC, etc...) are not entitlements. They are taxpayer funded handouts and shouldn't be called entitlements at all. Social Security and Veteran's benefits are 'Entitlements' because the people receiving them are entitled to them. They were earned and paid for by the recipients.

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    Re: China invests in Canada oil sands

    Quote Originally Posted by P/N View Post
    Moderator's Warning:
    China invests in Canada oil sandsThat will be just about enough of the name calling and personal attacks. Using derogatory names, such as coonass, is not acceptable.
    Understood.

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    Re: China invests in Canada oil sands

    Quote Originally Posted by apdst View Post
    I do understand that all oil pool can't be produced at the same price. The part that you don't seem to understand, is that the price of oil isn't regulated by the overhead expended to produce it. Subsidizing oil exploration doesn't make the price of oil go up, or down. Oil compaies have been subsidized for years, until PBO cut off the subsidies and tax breaks and we saw record high gas prices. Those high prices weren't caused by subsidies.

    1. We had record high gas prices long before President Obama took office. It was largely due to speculation. It was a classic speculative bubble.

    2. If you are subsidizing oil production, then the idea would be that you are doing so to introduce more oil onto the market than what would otherwise be on the market at a given price, and thus reduce the costs of fuel at the pump.

    The problem with doing that is, that it:

    - Creates a disincentive for private sector innovation.

    - Most likely is counter productive as any money consumers save at the pump is offset by tax dollars spent subsidizing the production.

    - If you are going to artificially interfere with the market, why would you subsidize Oil Sands production which is devastating the environment rather than just subsidizing consumers purchasing more fuel efficient vehicles. If we are talking about a "Lesser of two evils", then subsidizing consumers buying these:



    Makes a hell of a lot more sense than subsidizing Oil Sand production that results in this:



    And this:



    Or you could just let the market determine where best to invest in oil production.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: China invests in Canada oil sands

    Quote Originally Posted by SouthernDemocrat View Post
    1. We had record high gas prices long before President Obama took office. It was largely due to speculation. It was a classic speculative bubble.

    2. If you are subsidizing oil production, then the idea would be that you are doing so to introduce more oil onto the market than what would otherwise be on the market at a given price, and thus reduce the costs of fuel at the pump.

    The problem with doing that is, that it:

    - Creates a disincentive for private sector innovation.

    - Most likely is counter productive as any money consumers save at the pump is offset by tax dollars spent subsidizing the production.

    - If you are going to artificially interfere with the market, why would you subsidize Oil Sands production which is devastating the environment rather than just subsidizing consumers purchasing more fuel efficient vehicles. If we are talking about a "Lesser of two evils", then subsidizing consumers buying these:
    Ok, lets talk about the "lesser of two evils"...


    vs this

    What is your life worth?

    BTW... I drive the F-250 4x4 diesel, and feel very safe around 18 wheelers... how do you feel in your Pirus?

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