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

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

    Quote Originally Posted by j-mac View Post
    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.
    You still do not get it; this is not a sustainable solution. U.S. production cannot account for the increased demand from emerging markets.

    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.
    Or those environmental wakos trying to save the gulf shrimp?

    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?
    I was being sarcastic.

    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.
    Good! Frustration leads to substitutes; all of which receive little if any government support.

    have you ever known a successful rehab to have occurred where the junkie was forced into rehab?
    I do not agree with your analogy. Various corporate interests have little desire for the American people to become energy independent, and lobby the hell out of our congress men and women to ease support for any viable substitute.

    Remember the GM EV1?
    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

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

    Quote Originally Posted by lpast View Post
    When gas prices are high they tell us theres not enough supply, when theres plenty of supply they tell us theres not enough refining capacity or they have to shut them down for maintenance. The oil companies will never accept less than the huge profits they always have no matter how much drilling is allowed...There will always be an excuse when gas prices go skyhigh. I do however still support domestic drilling, at least that keeps some of our money out of arab hands
    exactly!!! and who has been pulling the "presidential" puppet strings for decades now?

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

    Quote Originally Posted by majora$$hole View Post
    exactly!!! and who has been pulling the "presidential" puppet strings for decades now?
    the masons?

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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

    Quote Originally Posted by liblady View Post
    the masons?
    With the results we have, i'd say the Jacksons (from Gary Indiana).
    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

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

    Quote Originally Posted by Goldenboy219 View Post
    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.
    Nothing more, nothing less than a political talking point. US oil companies have a surplus of government approved drilling permits sitting in filing cabinets. As global oil prices rise, and they will primarily due to increased demand by developing countries, so will the incentive to invest in drilling and producing on those permits.

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

    Quote Originally Posted by liblady View Post
    the masons?
    not for about 100 years have the masons pulled them harder than the oil company's.

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

    Quote Originally Posted by Goldenboy219 View Post
    The issue is that we consume twice what can be produced by U.S. oil companies.
    Why is that the issue? We need prodigious quantities of inexpensive energy. How much we consume is not even relevant. We will consume all we can get our hands on. So, how do we provide inexpensive energy? We let energy companies loose to do what they can, when they can and where they can. We eliminate every rule, regulation, or law that stands in the way.
    Quote Originally Posted by Goldenboy219 View Post
    It can take up to 5 years for a deep sea rig to actually deliver its first barrel of oil.
    Therefore what? Do we never start? What about drilling on land? It is pretty darned easy. We have lots of land and lots of oil. Let's go get it.

    Quote Originally Posted by Goldenboy219 View Post
    In the same time, auto companies can produce millions of energy efficient vehicles.
    Okay. So?

    Quote Originally Posted by Goldenboy219 View Post
    There really is no way around it; you cannot drill your way out it!
    Maybe you cannot. But someone can.

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

    Quote Originally Posted by croniccynic View Post
    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.
    Clearly you do not understand value.
    Have a nice day.

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

    Sorry to break it to you but Obama told you it was his plan.

    The sorry SOB sometimes tells the truth but you have to listen and understand what you are hearing to get the message.

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

    Quote Originally Posted by Misterveritis View Post
    Why is that the issue? We need prodigious quantities of inexpensive energy. How much we consume is not even relevant. We will consume all we can get our hands on. So, how do we provide inexpensive energy? We let energy companies loose to do what they can, when they can and where they can. We eliminate every rule, regulation, or law that stands in the way
    You simply lack an understanding of petroleum market; specifically the demand side qualities (lack of substitutes) which in turn dictate price. There is no "drilling our way out of" future price increase and you overestimate our production possibilities in regards to petroleum.

    Therefore what? Do we never start? What about drilling on land? It is pretty darned easy. We have lots of land and lots of oil. Let's go get it.
    Again, your solution (and many others like it) ignore the cause of oil price increases. We cannot expect 5 % of the worlds population to consume 25 % of all oil produced without serious upward pressure on the long term price of oil.

    Why? That is how supply and demand function.


    Okay. So?
    Fuel efficiency decreases quantity demanded and given the inelastic properties of petro, a 1% decrease in consumption will lead to greater than 1% decrease in the price.

    Maybe you cannot. But someone can.
    Only in your mind....
    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

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