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Thread: Bachmann: I'll get gas under $2

  1. #181
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by xpiher View Post
    Drill baby drill only works to reduce oil prices if Asia's demand doesn't increase with the rate of advancement and/or all oil produced in the US can only be sold in the US's market. Without either of these, US supply will not keep up with global demand.

    Now, here's an interesting theory. Senator Sanders is claiming that "over speculation" is causing gas prices to skyrocket. He uses the time when the future's market was dominated by a few companies. What if its not "over speculation" though. What if these huge investment firms are providing cartelalizing services to gas companies by buying up all oil futures when supply gets to high, then dumping them when demand drops. This would similar to what the coal mining unions did in the ... 60s (example was given in Capitalism and Freedom by Friedman)?
    Even with all the drilling we currently do not have the capacity to refine it to bring the prices down, we need refineries or we are screwed.

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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by deltabtry View Post
    Even with all the drilling we currently do not have the capacity to refine it to bring the prices down, we need refineries or we are screwed.
    Even with refineries prices will rise. Oil being a global commodity and whatnot.

    Unless you want the government to literally seize American oil companies and force them to sell only in the United States.
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    Re: Bachmann: I'll get gas under $2

    cruderuns.jpg
    Quote Originally Posted by deltabtry View Post
    Even with all the drilling we currently do not have the capacity to refine it to bring the prices down, we need refineries or we are screwed.
    Not really


    ftp://ftp.eia.doe.gov/pub/oil_gas/pe...crude_runs.htm



    Atmospheric crude oil distillation capacity at U.S. refineries was 17.7 million barrels per day at the beginning of 2011 according to the EIA's Refinery Capacity Report. Capacity, which was 0.15 million barrels per day above its level at the start of 2010, reached the highest level recorded since 1982. Since 2001, total net U.S. refinery capacity grew by more than 1 million barrels per day. There were 148 refineries operating in the US at the beginning of 2011.

    Refinery capacity is increasing through expansion of exisiting facilities and unprofitable ones are being shut down. Due to the high costs of building refineries and low margins most companies are loath to invest in new ones. Heck even oil friendly Alberta which would have loved to have seen a new refinery and upgrader built in Edmonton was passed over to send crude to the US for processing at exisiting facilities. The oil companies did not want to invest in a new facility



    U.S. Crude Oil Refining Capacity Near 30-year High (Guest Post) | EconMatters
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by Harry Guerrilla View Post
    How can people take this person seriously......
    ..anyone with half a brain does not.... it seems, however, that there are many with less than their FDA recommended amount of gray matter.

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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by Lord Tammerlain View Post
    cruderuns.jpg

    Not really


    ftp://ftp.eia.doe.gov/pub/oil_gas/pe...crude_runs.htm






    Refinery capacity is increasing through expansion of exisiting facilities and unprofitable ones are being shut down. Due to the high costs of building refineries and low margins most companies are loath to invest in new ones. Heck even oil friendly Alberta which would have loved to have seen a new refinery and upgrader built in Edmonton was passed over to send crude to the US for processing at exisiting facilities. The oil companies did not want to invest in a new facility



    U.S. Crude Oil Refining Capacity Near 30-year High (Guest Post) | EconMatters
    I think there is partial truth to the notion of limited capacity, as we are more or less at full capacity now. Achieving 100% isn't possible.
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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by VanceMack View Post
    Perhaps her plan is to allow for more ready access to the existing US oil fields that have been unused. Assuming she isnt advocating for nationalization (which is a pretty safe assumption considering her position on the expanded role of government) the only way she could influence greatly reduced gas prices is to increase supply or dramitically reduce demand. Might be interesting to actually know her plan.
    wouldn't it though? and if she is a real american, why is she withholding her wisdom? she's got no freaking plan, she's a moron.

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    Re: Bachmann: I'll get gas under $2

    maybe she will just say that she "hopes" that gas prices will "change" and convert all of the messiahs minions......they sure fell for that garbage

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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by fishinRod View Post
    maybe she will just say that she "hopes" that gas prices will "change" and convert all of the messiahs minions......they sure fell for that garbage
    So you're saying that she's running on "hope" and "change?" I'm sure she'll convince her followers that she can do what Obama and Bush both failed at.


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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by rocket88 View Post
    So you're saying that she's running on "hope" and "change?" I'm sure she'll convince her followers that she can do what Obama and Bush both failed at.
    She is one of the tea baggers one of those who oppose regulating speculators.


    One of the reasons that gas,oil and other products are so high is because of speculators and naturally the republicans want to block any bill that will control or regulate speculators.

    While the GOP refuses to include tax increases and insists on cutting programs that help the poor and elderly they support speculators who drive up the price of all products. If you support the GOP or their tea bagger buddies you are condoning their supporting the increased financial burden on our poor and elderly

    Speculating directly or indirectly effects the price of every thing we buy. Speculating on life essential needs should not just be regulated it should be illegal,anyone engaging in speculating on life essential needs should go to jail

    EXCLUSIVE: Eric Cantor Promises Oil Speculators That Republicans Will Block Financial Regulations | ThinkProgress

    EXCLUSIVE: Eric Cantor Promises Oil Speculators That Republicans Will Block Financial Regulations
    By Lee Fang on May 18, 2011 at 11:30 am

    Yesterday morning, House Majority Leader Rep. Eric Cantor (R-VA) visited the Chicago headquarters of the CME Group, “the world’s largest owner and operator” of private exchanges for derivatives products. CME Group specializes in a number of markets, including trading futures contracts for various blends of crude oil and food commodities. Cantor met with executives, and at one point, gave brief remarks before CME Group employees and various commodity speculators.

    Cantor told the audience of speculators that his Republican caucus would “do our part” to block the implementation of financial reforms passed last year as part of the sweeping Dodd-Frank law. He even called out the Commodity Futures Trading Commission, the regulators in charge of overseeing derivatives and energy speculation, and promised to stop regulations from going online:

    Currently, energy speculation is at an all time record high. In 2008, according to many analysts, oil speculation — which took place on unregulated private exchanges owned by the CME Group and a set of international exchanges — spiked gas prices to unprecedented levels. Now, excessive oil speculation is again driving the pain at the pump. While Goldman Sachs has claimed that at least $25 of the current price of crude oil is due to speculation, financial experts contacted by ThinkProgress say the Goldman Sachs number is probably very conservative.

    Although the Dodd-Frank reforms passed last year included a new mandate for regulators to curb rampant oil speculation, these regulations have not yet been implemented. Republicans, under Cantor’s leadership, are working furiously to ensure that they never will be. For instance, Cantor’s caucus has proposed massive budget cuts to the Commodity Futures Trading Commission — the regulatory body charged with overseeing oil speculators at the CME Group. As the New York Times has reported, CFTC regulators literally do not have enough money even for staplers, and can barely enforce laws on the books before even getting to new Dodd-Frank rules. In addition, Republicans are also pushing a separate bill to delay Dodd-Frank derivatives reforms for at least eighteen months.

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    Re: Bachmann: I'll get gas under $2

    Quote Originally Posted by liblady View Post
    wouldn't it though? and if she is a real american, why is she withholding her wisdom? she's got no freaking plan, she's a moron.
    Im inclined to agree that she like most of the dancing bears are just that. Well...OK...not a 'moron'...she obviously has both book and political savvy. She's not a moron...she's worse...she's a 'politician.'

    But hey...along with that whole 'real American' thing...if that is the standard, then what does it say about John Kerry who never did tell us what his plans were...or Barrack Obama for that matter who promised to tell us HIS plan...in...September (and geez...wouldnt it be nice if he had done it 2.5 years ago). I'm still just on pins and needles to see his 'plan.' (I'm betting on "increased taxes (errr...more 'revenues') on the richest people to make them pay more of their "fair share" and an increased stimulus plan for more shovel ready projects")
    Last edited by VanceMack; 08-24-11 at 06:47 PM.

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