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Thread: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by Coronado View Post
    No, the market is broken because the government has far too much power in the economic sphere. If the government weren't so involved in manipulating the market, the oil companies' power in government would be meaningless.

    Once again, the government is a sickness masquerading as its own cure.

    How is the government manipulating the market to the extent it is causing a rise in prices for Americans?

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by apdst View Post
    The oil and gas industry isn't people heavy? Got
    any numbers to prove that?
    Last I looked it was under 500.000 people in the US.

    and many of them are not Americans..

    U.S. Oil Industry Kills 100+ Workers A Year

    Now you might say "wow 500k people".. yea but taking out the non-American's then how far do you think that number will go?

    The oil companies are in the energy business.
    No they are in the oil business. They dabble in other energy sources but that is more for public relations than anything else. Most of their investments is in oil, more oil and even more oil. They, along with their partners in automotabiles, had managed to stop any mandatory mileage requirement for cars and trucks in the US for over 20 years and a bunch of other things.. like preventing investment in alternative energy.

    They're the folks that are going to be the leaders in alternative energy. The problem, is that alternative energy isn't practicle.
    So when are they going to start? Is it Shell, Exxon or what not that is the leader in solar, hydro electrical power, or even wind energy? No, and far from it. All they focus on is oil.. more oil and then some oil. If they could find a way to grow oil in trees then they would invest in that.
    PeteEU

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by dragondad View Post
    I sure they would rise to the same extent income taxes would be offset.

    But now you have incentives for consumers and companies to save energy.
    Instead of screwing them from one direction, you want to screw them from another. At least income taxes have deductions, credits and writeoffs. High prices don't.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by Coronado View Post
    No, the market is broken because the government has far too much power in the economic sphere. If the government weren't so involved in manipulating the market, the oil companies' power in government would be meaningless.

    Once again, the government is a sickness masquerading as its own cure.
    Yea live in a dream world.. It was the "market" that prevented the US from lowering its average miles per gallon numbers for 30 years.. yea right......
    PeteEU

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by PeteEU View Post
    Last I looked it was under 500.000 people in the US.

    and many of them are not Americans..

    U.S. Oil Industry Kills 100+ Workers A Year

    Now you might say "wow 500k people".. yea but taking out the non-American's then how far do you think that number will go?
    So, you don't really have a clue how many people are employed because of oilfield operations?



    No they are in the oil business. They dabble in other energy sources but that is more for public relations than anything else. Most of their investments is in oil, more oil and even more oil. They, along with their partners in automotabiles, had managed to stop any mandatory mileage requirement for cars and trucks in the US for over 20 years and a bunch of other things.. like preventing investment in alternative energy.
    Don't be so naive to think that if the oil companies can find a source of energy that costs less to produce that they can make more profit from, that they won't jump all over it.



    So when are they going to start? Is it Shell, Exxon or what not that is the leader in solar, hydro electrical power, or even wind energy? No, and far from it. All they focus on is oil.. more oil and then some oil. If they could find a way to grow oil in trees then they would invest in that.

    They started quite a while back. Where you been? Big Oil has invested billions in alternative energy.


    http://www.nytimes.com/2009/07/14/bu...nt/14fuel.html

    Oil Companies Promote Alternative Energy

    Big Oil Bets on Biofuels - Renewable Energy World

    Anger as Shell reduces renewables investment - Times Online
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Oh good, more oil...... let's stop that crap please.
    It's time for a revolution in our country. Not a revolution forged with guns and bombs but a revolution forged of compassion and altruism. A revolution that extends a hand to those who don't have and who cannot. A revolution that makes Health Care available to all those in the US.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by dragondad View Post
    How is the government manipulating the market to the extent it is causing a rise in prices for Americans?
    It's due to the fact that for every other product and service it's an overhead cost, and that always gets passed on to the consumer.

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by PeteEU View Post
    Yea live in a dream world..
    At least we agree on something ...

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by Coronado View Post
    No, the market is broken because the government has far too much power in the economic sphere. If the government weren't so involved in manipulating the market, the oil companies' power in government would be meaningless.

    Once again, the government is a sickness masquerading as its own cure.
    Not really. The oil market is broken because of lack of competition. Between OPEC, Russia, Venezuela and a few other cooperating partners, they control the vast majority of oil sold on international exchanges. Basically, OPEC sets a base price and then the rest follow because it's in their best interest. Now, imagine if every oil producer competed on price with each other rather than colluding. Also remember that several backers of the Iraq invasion wanted to use Iraq as the tool to destroy OPEC. In that regard, I fully supported the war. It's hard to change markets when there are a few players that control a commodity that is not easily substituted who are colluding with each other on price.

    Thus, adding less than 1% to total daily production won't change prices a bit. I really don't see how this helps us. Sure it's good....but in the grand scheme of things, it doesn't matter.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

    Quote Originally Posted by PeteEU View Post
    You mean like it has not done so far? Face it the market is broken because the oil companies have far too much power in the political sphere.
    This is incorrect. Shell, Exxonmobile, Chevron and the like have relatively little power in price setting (if frankly any when it comes to crude). The nationalized or semi-nationalized systems in OPEC, Russia, Venezuela and a few others are really the ones with the power.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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