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

  1. #131
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by UtahBill View Post
    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....
    Yet we are taking away farm land for food growing with wind turbines and ethanol

  2. #132
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by ptif219 View Post
    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
    That new technology you are talking about is being used heavily in Penn, and New York to get shale gas. The amount of drilling going on in those areas is quite heavy, and I am sure that it is being used in Texas as well
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Lord Tammerlain View Post
    That new technology you are talking about is being used heavily in Penn, and New York to get shale gas. The amount of drilling going on in those areas is quite heavy, and I am sure that it is being used in Texas as well
    It could be used in Bakken if the government will allow it.

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

    Quote Originally Posted by ptif219 View Post
    It could be used in Bakken if the government will allow it.
    It is being used in the Bakken oil fields. North Dakota is has a large amount of oil drilling going on

    Bakken Formation - Wikipedia, the free encyclopedia

    New rock fracturing technology available starting in 2008 has caused a recent boom in Bakken production. By the end of 2010 oil production rates had reached 458,000 barrels per day outstripping the capacity to ship oil out of the Bakken
    Darn govenment preventing drilling in the Bakken oil fields (opps it isnt)
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  5. #135
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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....
    Should be done on a state level first, no sense getting the feds in the middle of state highway projects.
    Not true. Price of regular gas in Mexico on February 12 was $2.81 American dollars. About the same as here.

    The gasoline tax increase you propose is the worst thing imaginable in this economy. A dollar increase in federal gas taxes would send the economy immediately into a double dip recession. Inflation would strangle everyone with the huge increase in all goods delivered, which is everything.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





  6. #136
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by MaggieD View Post
    I wonder if that's true, Erod. I wonder if oil-producing nations resent us for this very reason.

    Since oil is a finite resource, and we know it is, are we really hoarders?
    We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

    I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
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    The systems that ensure freedom and liberty are breaking down and fundamentalism is growing. Nobody is righteous anymore.


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

    Quote Originally Posted by Mickey Shane View Post
    We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

    I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
    Not according to the republicans. They want us to pump all our oil out of the ground and use it up as fast as possible to keep gas prices down.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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

    Quote Originally Posted by Mickey Shane View Post
    We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

    I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
    Problem is, we don't have the refineries to turn the oil to gasoline here in the U.S. I've heard it estimated that it would take 10 plus years to build the refining capacity to create enough gasoline for our country's needs.

    We need to drill and refine our own oil, while working feverishly on alternative energy solutions. You really can do both; not that big of a deal.

  9. #139
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Erod View Post
    Problem is, we don't have the refineries to turn the oil to gasoline here in the U.S. I've heard it estimated that it would take 10 plus years to build the refining capacity to create enough gasoline for our country's needs.

    We need to drill and refine our own oil, while working feverishly on alternative energy solutions. You really can do both; not that big of a deal.
    US refineries run at 80 to 90 capacity to meet all our needs and export refined products.

    http://www.eia.doe.gov/dnav/pet/pet_..._dcu_nus_m.htm

    Oil companies do not want more refineries because that would lead to a surplus driving prices and profits down. Don't you republicans know anything about business or supply and demand?
    Last edited by USA_1; 02-28-11 at 10:40 AM.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

  10. #140
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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by USA_1 View Post
    US refineries run at 80 to 90 capacity to meet all our needs and export refined products.

    U.S. Refinery Utilization and Capacity

    Oil companies do not want more refineries because that would lead to a surplus driving prices and profits down. Don't you republicans know anything about business or supply and demand?
    Yes and no. Our refineries are built to refine the type of oil we import; however, I've read that the oil here is a different composition (more sulfer, etc) and requires a different type of refinery.

    I don't profess to be an expert on this, but I've heard that we don't have the facilities in place to do everything on our own, and that it would take 10 years for us to get to that point.

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