Page 7 of 12 FirstFirst ... 56789 ... LastLast
Results 61 to 70 of 119

Thread: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

  1. #61
    User
    Join Date
    May 2011
    Last Seen
    07-08-11 @ 12:22 PM
    Lean
    Undisclosed
    Posts
    68

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    I keep seeing these 'drill baby drill' threads all over the net and fail to understand the lack of logic behind such thinking. To even imagine increased US drilling/production will affect global oil pricing, much less US pump pricing, is about as irrational as it gets. There seems to be little understanding by some posters of how commodity market speculation using beat-up USD actually functions, much less how oil is traded, demand points or production costs. Plenty of whining but aside from some posters attempting to pound simple facts into whiner heads, little reality. Must be a failing nationalist syndrome.

  2. #62
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 07:39 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by Goldenboy219 View Post
    You are correct, when demand drops so does the price. Considerably!
    I understand, but in that case why are we allowing other countries, some of which don't care for us too much, dictate price, when we have as much oil as they do?


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  3. #63
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Today @ 08:06 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by j-mac View Post
    I understand, but in that case why are we allowing other countries, some of which don't care for us too much, dictate price, when we have as much oil as they do?

    j-mac
    What we do not have is the productive capacity to change the price of oil. Please do not be talked into believing into anything of the sort.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #64
    Banned
    Join Date
    May 2011
    Location
    Huntsville, AL
    Last Seen
    03-03-17 @ 10:28 AM
    Gender
    Lean
    Conservative
    Posts
    13,813

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by croniccynic View Post
    I keep seeing these 'drill baby drill' threads all over the net and fail to understand the lack of logic behind such thinking.
    Perhaps you need some help.
    Quote Originally Posted by croniccynic View Post
    To even imagine increased US drilling/production will affect global oil pricing, much less US pump pricing, is about as irrational as it gets.
    Yep. There is that darned supply/demand issue. Complicated.
    Quote Originally Posted by croniccynic View Post
    There seems to be little understanding by some posters of how commodity market speculation using beat-up USD actually functions, much less how oil is traded, demand points or production costs.
    I hate smugness. Especially when it is unaccompanied by very little of value in the post.
    Quote Originally Posted by croniccynic View Post
    Plenty of whining but aside from some posters attempting to pound simple facts into whiner heads, little reality. Must be a failing nationalist syndrome.
    Gosh. You are awesome. Can I have your autograph, Mr. Egghead?

  5. #65
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    Yesterday @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by Goldenboy219 View Post
    How does this address our current production gap?
    Oh I get it, if it doesn't lower gas prices by 20 cents tomorrow morning, the idea should be abandoned.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  6. #66
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 07:39 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by Goldenboy219 View Post
    What we do not have is the productive capacity to change the price of oil. Please do not be talked into believing into anything of the sort.

    Production capacity is a matter of doing, and not impossible. In fact the mere show that we are willing to ramp up would have a down ward pressure on the market would it not?


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  7. #67
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Today @ 08:06 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by American View Post
    Oh I get it, if it doesn't lower gas prices by 20 cents tomorrow morning, the idea should be abandoned.
    No you don't!

    The price of petro is almost entirely demand sensitive. In the midst of the financial crisis (early 2009), we witnessed the result of a 7% drop in demand from OECD nations led to a 72% decrease in petro prices. Not that we should just stop consuming oil over night, but if we can average 2%-3% reduction per year (which is a challenge), we can reduce the reliance on fossil fuels while simultaneously putting downward pressure on the spot price.

    When we consume twice what we produce, drilling our way out of it is a political talking point.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  8. #68
    I'm not-low all the time
    Kushinator's Avatar
    Join Date
    Jan 2006
    Location
    West Loop
    Last Seen
    Today @ 08:06 PM
    Gender
    Lean
    Independent
    Posts
    16,263

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by j-mac View Post
    Production capacity is a matter of doing, and not impossible. In fact the mere show that we are willing to ramp up would have a down ward pressure on the market would it not?


    j-mac
    OPEC holds all supply cards, and can easily increase production without having to drill a mile deep. We simply cannot. Our friends in Saudi Arabia have the ability to reduce the price if they so desired, but yet lack the motivation to do so (why would they want to increase production by 20% and sell their oil @ a 5% difference?).

    The key is curbing demand.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  9. #69
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Today @ 07:39 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by Goldenboy219 View Post
    OPEC holds all supply cards, and can easily increase production without having to drill a mile deep. We simply cannot.

    I don't think this is absolute in all areas of US known reserve untapped oil. Although it is true for drilling offshore, that may be due only to the fact of where oil leases are approved to be extracted.

    Clearly a re examination of those leases, and a move toward going after oil in this country that makes more sense to get rather than letting some environmental group, or person place them off limits to save the speckled snail darter is where we are approaching quickly.

    We simply cannot. Our friends in Saudi Arabia have the ability to reduce the price if they so desired, but yet lack the motivation to do so (why would they want to increase production by 20% and sell their oil @ a 5% difference?).

    Our friends? The same country that manipulates the price daily? The same country that recently cut production because they said there was too much oil on the market? The same country that produced 19 out of the 20 9/11 hijackers? Those friends?

    Yeah, between them, and the enviro-weenies here that have been placed in charge of regulatory agencies in order to "nudge" us in the "right" direction, I, and the American people as a whole are growing increasingly tired of the excuses.

    The key is curbing demand.
    have you ever known a successful rehab to have occurred where the junkie was forced into rehab?

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #70
    User
    Join Date
    May 2011
    Last Seen
    07-08-11 @ 12:22 PM
    Lean
    Undisclosed
    Posts
    68

    Re: With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production

    Quote Originally Posted by Misterveritis View Post
    Perhaps you need some help.

    Yep. There is that darned supply/demand issue. Complicated.

    I hate smugness. Especially when it is unaccompanied by very little of value in the post.

    Gosh. You are awesome. Can I have your autograph, Mr. Egghead?
    Here's your value:

    Offering countering information that's readily available through a number of unbiased sources to posters who firmly believe increased US drilling will lower their fuel costs seems similar to arguing with flat earth people. People on this and other forums have attempted to enlighten the more US oil drilling equals cheaper pump prices crowd about the futility of such a stance, all to no avail. If you feel the US can produce enough oil to move global oil prices and consequently oil byproduct pricing, simply employ a search engine with the phrase 'why increased US oil drilling won't lower pump prices'.

    Sorry, you picked a no autographs day.

Page 7 of 12 FirstFirst ... 56789 ... LastLast

Posting Permissions

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