Page 81 of 173 FirstFirst ... 3171798081828391131 ... LastLast
Results 801 to 810 of 1728

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

  1. #801
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

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

    Quote Originally Posted by USA_1 View Post
    Facts? I have given you facts and you ignore them. The truth is big oil doesn't want any more refineries. Excess capacity would hurt their bottom line. That's one reason the bought up all the smaller refineries in the last three decades and shut them down.



    Memos Show Oil Companies Closed Refineries To Hike Profits



    U.S. Number and Capacity of Petroleum Refineries
    There were 11 US refineries idle in 2010.
    The fact is the government has made it impossible and not profitable to build new refineries.

  2. #802
    Guru
    USA_1's Avatar
    Join Date
    Dec 2009
    Location
    BANNED
    Last Seen
    04-16-11 @ 02:45 PM
    Gender
    Lean
    Independent
    Posts
    3,142

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

    Quote Originally Posted by ptif219 View Post
    The fact is the government has made it impossible and not profitable to build new refineries.
    Wrong. Economic factors have made it not profitable to build new refineries in the US. Even if the oil companies wanted to.(which they don't)
    Just like every other industry that has been outsourced to other countries. Refineries will be built in countries with the cheap labor.
    The truth is we have plenty of refineries here, in fact 11 of them were idle in 2010 and the rest were producing at 80 to 90% capacity. The crap about gas prices are high because we don't have enough refineries is total BS. Can't you see that?
    We don't need new refineries we need to stop shutting down the ones we have.
    http://www.nytimes.com/2009/12/24/bu...4refining.html

    Not only did that never come to pass, but the reverse is now happening. The business of oil refining is mired in a deep crisis, with five refineries having shut down this year, including plants in Delaware, New Jersey, California and New Mexico.
    “We have too much capacity,” said Lynn D. Westfall, the chief economist at the Tesoro Corporation, a midsize refiner, who estimated that the industry’s capacity of 18 million barrels a day must be cut 5 to 8 percent. “We need refineries to be shut down.”

    Refineries, especially smaller ones, have been closing for many years. The number of refineries in the United States fell to about 150 in recent years from more than 300 in 1982. At the same time, the nation’s refining capacity grew by about 13 percent, as companies expanded their most efficient refineries.
    Last edited by USA_1; 03-29-11 at 05:02 PM.
    "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

  3. #803
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

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

    An Interior Department report to be released Tuesday says more than two-thirds of offshore oil and gas leases in the Gulf of Mexico are sitting idle.

    According to the report, obtained by The Associated Press, those inactive swaths of the Gulf could potentially hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas. The report also shows that 45 percent of all onshore oil and gas leases are inactive.

    President Barack Obama ordered the Interior Department review earlier this month amid pressure to curb rising gas prices. The White House says Obama will address his plans for the country's energy security during a speech in Washington Wednesday.
    Two-thirds of oil and gas leases in Gulf inactive - Yahoo! News

  4. #804
    Guru
    USA_1's Avatar
    Join Date
    Dec 2009
    Location
    BANNED
    Last Seen
    04-16-11 @ 02:45 PM
    Gender
    Lean
    Independent
    Posts
    3,142

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

    Not surprising since every offshore drilling rig is spoken for.

    http://www.energydigger.com/rig-coun...ig-counts.aspx

    For the week ending March 25, 2011 the total U.S. rotary rig count was 1,738 up 18 rigs from the previous week. Compared to last year, there were an additional 273 rigs drilling for oil & gas, a net increase of 18.6 % year over year.
    Last edited by USA_1; 03-29-11 at 05:55 PM.
    "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

  5. #805
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

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

    The chart to the left, 1990 to present, shows the total number of offshore rigs (Texas & Louisiana) drilling in the Gulf of Mexico at any given time [down about 70%]. With little effort, one can easily see the effect of the BP Deepwater Horizon disaster and the Obama Offshore Drilling Moratorium.
    energyDigger :: Rotary Rig Count - United States

  6. #806
    Guru
    USA_1's Avatar
    Join Date
    Dec 2009
    Location
    BANNED
    Last Seen
    04-16-11 @ 02:45 PM
    Gender
    Lean
    Independent
    Posts
    3,142

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

    Quote Originally Posted by The Prof View Post
    Of course the BP disaster and moratorium had an effect. A company losing 30 billion dollars make others take notice and figure out if the risk is worth it. The moratorium made sure those that do drill, do it safely. Seeing that there is no shortage of oil, the cut backs have had no effect.
    Are there really people out there that believes the moratorium was a bad idea?
    Did you notice on the chart how drilling off Lousianna has dropped since 2001?
    Last edited by USA_1; 03-29-11 at 09:17 PM.
    "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

  7. #807
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

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

    Quote Originally Posted by USA_1 View Post
    Did you notice on the chart how drilling off Lousianna has dropped since 2001?
    i sure did

    i also noticed today:

    The national average for a gallon of gas hit $3.584 Monday, the highest ever for this time of year, according to AAA, Wright Express and the Oil Price Information Service. Gasoline prices have jumped 25.1 cents in the past month and 78.1 cents from a year ago.
    Inflation worries push consumer confidence lower | The Associated Press | Nation | Washington Examiner

  8. #808
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

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

    Quote Originally Posted by ptif219 View Post
    The fact is the government has made it impossible and not profitable to build new refineries.
    Are you saying the Republicans have not been in charge any of the last 40 years when we failed to produce as much oil as we did in 1971?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #809
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

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

    Quote Originally Posted by USA_1 View Post
    Wrong. Economic factors have made it not profitable to build new refineries in the US. Even if the oil companies wanted to.(which they don't)
    Just like every other industry that has been outsourced to other countries. Refineries will be built in countries with the cheap labor.
    The truth is we have plenty of refineries here, in fact 11 of them were idle in 2010 and the rest were producing at 80 to 90% capacity. The crap about gas prices are high because we don't have enough refineries is total BS. Can't you see that?
    We don't need new refineries we need to stop shutting down the ones we have.
    http://www.nytimes.com/2009/12/24/bu...4refining.html
    I showed proof it takes years just to get permits

  10. #810
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

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

    Quote Originally Posted by Catawba View Post
    Are you saying the Republicans have not been in charge any of the last 40 years when we failed to produce as much oil as we did in 1971?


    The regulations stop it/ When Bush wanted more drilling the democrats stopped it

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •