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Thread: Oil rises above $90 amid US crude supply drop

  1. #121
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    How about the oil equivilent of the nat gas we have? How about using nuclear like the French? How about allowing drilling in more than 500 feet in the gulf? How about drilling offshore on the East Coast?

    I understand that Canada is getting rich by selling oil to the U.S. so it makes sense you would want to hold down production and alternatives here. But an American could/ should be distressed by our continued lack of energy policy. This problem has gone on for decades so to point to Bush or any president, other than the one in office who can do something now is tired hackery.
    Nuclear power does not contribute to transportation fuel needs, except in the rare instance of nuclear power being used to charge a battery powered car. How many of those are on the road? Damn few, is how many. Natural gas is dangerous, any fuel in gaseous form is dangerous. Gasoline will not burn until it is converted to a vapor, likewise diesel. And we don't have the infrastructure to use natural gas for cars.
    This last cold snap, so many people with natural gas heating used so much of it, that the line pressure dropped below what is required by Combined Cycle Natural Gas Turbine power plants, and they had to shut down. It was so cold in Texas that even coal plants were shutting down. When it comes to electric power, only nuclear operates well in extreme cold situations.
    Neither electric cars or natural gas powered cars are the answer for the forseeable future.
    Jimmy Carter was the only president with an engineering degree and thus able to better understand the complexities of our energy needs, and Reagan put a stop to most of the programs that Carter started.
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by UtahBill View Post
    We need to tax gasoline more.
    political non starter, a fantasy

    sorry

  3. #123
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by The Prof View Post
    political non starter, a fantasy

    sorry
    The right thing to do is not often the popular thing to do....
    why should we pay less for gasoline than Mexico, for example? If the Mexican govt needs more money, they raise gasoline taxes. It hits everybody in their wallet, an equal opportunity tax....
    Should be done on a state level first, no sense getting the feds in the middle of state highway projects.
    Last edited by UtahBill; 02-27-11 at 03:22 PM.
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    Re: Oil rises above $90 amid US crude supply drop

    nyt, thursday:

    http://www.nytimes.com/2011/02/25/bu...my/25econ.html

    The American economy just can’t catch a break.

    Last year, as things started looking up, the European debt crisis flustered the fragile recovery. Now, under similar economic circumstances, comes the turmoil in the Middle East.

    If the recent rise in oil prices sticks, it will most likely slow a growth rate that is already too sluggish to produce many jobs in this country. Some economists are predicting that oil prices, just above $97 a barrel on Thursday, could be sustained well above $100 a barrel, a benchmark.

    But other sources of economic uncertainty besides oil prices have come into sharper focus in recent days. After a few false starts, housing prices have slid further. New-home sales dropped sharply in January, as did sales of big-ticket items like appliances, the government reported Thursday.

    Though the initial panic from last year has faded, Europe’s deep debt problems remain, creating another wild card for the global economy. Protests turned violent in Greece this week in response to new austerity measures.

    Budget and debt problems at all levels of American government also threaten to crimp the domestic recovery. Struggling state and local governments may dismiss more workers this year as many face their deepest shortfalls since the economic downturn began, and a Congressional stalemate over the country’s budget could even lead to a federal government shutdown.

    In the last week, oil prices have risen more than 10 percent and even breached $100 a barrel. A sustained $10 increase in oil prices would shave about two-tenths of a percentage point off economic growth, according to Dean Maki, chief United States economist at Barclays Capital. The Federal Reserve had forecast last week that the United States economy would grow by 3.4 to 3.9 percent in 2011, up from 2.9 percent last year.

    Higher oil prices restrain growth because they translate to higher fuel prices for consumers and businesses.
    the lady fails to include in her litany of bad luck the TWO POINT FIVE TRILLION DOLLAR shortfall felt by our states in PUBLIC PENSIONS ALONE

    FT.com / US / Economy & Fed - US public pensions face $2,500bn shortfall

  5. #125
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by UtahBill View Post
    The right thing to do is not often the popular thing to do....
    why should we pay less for gasoline than Mexico, for example? If the Mexican govt needs more money, they raise gasoline taxes. It hits everybody in their wallet, an equal opportunity tax....
    ask obama

    Obama Calls Tax Cuts the 'Right Thing to Do'

    ask bubba

    At Obama's side, Clinton backs tax deal - Politics - White House - msnbc.com

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    Re: Oil rises above $90 amid US crude supply drop

    so you expect a politician to do the right thing when they are trying to stay in office? It's called pandering...
    Clinton will back up Obama on just about any topic.

    besides, income taxes and gasoline taxes are not exactly the same. Even the "poor" who don't pay income taxes at all will share the load. If we want our grocery stores to have food, we need to pay for their transportation expenses.
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    Re: Oil rises above $90 amid US crude supply drop


  8. #128
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    Re: Oil rises above $90 amid US crude supply drop

    Do you have a solution to this problem? I don't....
    Farmers have to make a profit, even WalMart has to make a profit....
    I suppose we could force the rich to pony up more money. Perhaps the Saudi Royal Family will help out....
    Oracle of Utah
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Lord Tammerlain View Post
    Ethanol is a Bush admin era program

    Cars today are safer then they have been in the past and actually far heavier then cars of 20 years ago. The original VW GTi weighed around 2000lbs, todays GTi weighs around 3000 lbs. All the cars I have driven old and new do well in the cold.

    And re Erod


    The US does not have more oil then the rest of the world, it has oil shale which can not be profitably extracted at this point in time in vast quantities. You want to pay $10 a gallon for gas, try to use Oil shale to power America
    There is new technology if Obama and the environmentilist nut jobs will let us use it.

    New American Oil Discoveries From Horizontal Drilling | Shale Oil Plays Blog

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    I am all in favor of higher gas prices. The only way to get sustainable high prices is to have a high tax. No politician has the guts to do the right thing and have let's say a $1 gas surcharge.

    I then do agree we could have somewhat less usage. We still need to develop our resources to really make a dent in what we import.
    So you want transportation costs that will bring huge costs increases to everything you buy

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