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Thread: Gasoline prices zip toward $3 mark

  1. #91
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    Re: Gasoline prices zip toward $3 mark

    Higher gas prices are actually good if you want domestic companies to begin investing in oil.
    OilInvestment2010.jpg (image)

    However companies may be a little skeptical to invest since the demand for gasoline has even been slightly affected by the recession, although it is making a slight come back.
    VehicleMilesNovRolling2009.jpg (image)

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    Doom and gloom seldom happens. Keep believing it but if you have to go back to 10 year old predictions it shows what a fallacy it is.


    We Will Never Run Out of Oil


    In conclusion, if markets are allowed to function freely the supply of oil will never run out, in a physical sense, though it's quite likely that in the future gasoline will become a niche commodity. Changes in consumer patterns and the emergence of new technology driven by increases in the price of oil will prevent the oil supply from ever physically running out. While predicting doomsday scenarios may be a good way to get people to know your name, they are a very poor predictor of what is likely to happen in the future.
    Thank you for the link which confirms we have passed peak oil!

    It seems you are confusing peak oil with oil depletion. This may help:
    "Peak oil is often confused with oil depletion; peak oil is the point of maximum production while depletion refers to a period of falling reserves and supply."
    [ame=http://en.wikipedia.org/wiki/Peak_oil]Peak oil - Wikipedia, the free encyclopedia[/ame]

    We have not been able to produce the oil we require domestically since the 70's.

    There is a summary here of the world oil reserves data as of 2008. It shows the number of years left for reserves country by country:
    [ame=http://en.wikipedia.org/wiki/Oil_reserves]Oil reserves - Wikipedia, the free encyclopedia[/ame]
    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

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Catawba View Post
    Thank you for the link which confirms we have passed peak oil!

    It seems you are confusing peak oil with oil depletion. This may help:
    "Peak oil is often confused with oil depletion; peak oil is the point of maximum production while depletion refers to a period of falling reserves and supply."
    Peak oil - Wikipedia, the free encyclopedia

    We have not been able to produce the oil we require domestically since the 70's.

    There is a summary here of the world oil reserves data as of 2008. It shows the number of years left for reserves country by country:
    Oil reserves - Wikipedia, the free encyclopedia
    You can't have oil if the government prevents drilling.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    You can't have oil if the government prevents drilling.
    The oil companies have cut back on drilling as demand dropped. The government is not preventing drilling. Oil companies have been drilling in the US for a hundred years but no matter how much more they drill they could not get it out of the ground fast enough to eliminate imports. Only a few hundred to a few thousand barrels come out of each oil well.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    You can't have oil if the government prevents drilling.
    More drilling is not the solution or the Republicans would have done it during the 12 years they were in control of Congress. Drill, baby drill is just a conservative campaign slogan aimed at those not aware we have already passed peak oil in the US. Even the oil people admit we can't drill our way out of this problem.

    See post 88.

    You also may want to read up on peak oil. I provided a link in my previous post.
    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

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dirty Harry View Post
    The oil companies have cut back on drilling as demand dropped. The government is not preventing drilling. Oil companies have been drilling in the US for a hundred years but no matter how much more they drill they could not get it out of the ground fast enough to eliminate imports. Only a few hundred to a few thousand barrels come out of each oil well.
    The government is preventing drilling and put so many laws and rules on building a refinery it is not profitable.


    CNSNews.com - Let Oil Drilling Ban Expire, Top Republican Says

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    The government is preventing drilling and put so many laws and rules on building a refinery it is not profitable.


    CNSNews.com - Let Oil Drilling Ban Expire, Top Republican Says
    Only in a few areas is drilling banned. There are plenty of places left to drill in this country. Plenty.
    Oil companies are shutting down refineries and cutting back production. There is no need for new refineries. Your political talking points don't hold water.
    The GOP had 6 years to open up all areas for drilling. They didn't do it because they knew it wouldn't make any difference.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dirty Harry View Post
    The oil companies have cut back on drilling as demand dropped. The government is not preventing drilling. Oil companies have been drilling in the US for a hundred years but no matter how much more they drill they could not get it out of the ground fast enough to eliminate imports. Only a few hundred to a few thousand barrels come out of each oil well.
    The government is preventing drilling and put so many laws and rules on building a refinery it is not profitable.


    CNSNews.com - Let Oil Drilling Ban Expire, Top Republican Says

    H.R. 5254 [109th]: Refinery Permit Process Schedule Act (GovTrack.us)

  9. #99
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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    The government is preventing drilling and put so many laws and rules on building a refinery it is not profitable.


    CNSNews.com - Let Oil Drilling Ban Expire, Top Republican Says

    H.R. 5254 [109th]: Refinery Permit Process Schedule Act (GovTrack.us)
    Drilling is only banned in a few areas. There are plenty of places in the US the oil companies could drill. Oil companies have cut back new drilling and exploration until prices go back up.
    Refineries are being shut down and production cut. There is no need for new refineries. They are not very profitable right now because the price of gas is down and crude is up.


    After years of failed energy policies that contributed to skyrocketing fuel prices and environmental degradation, the Bush-Cheney White House and their congressional allies now seek to divert the public's attention.

    After almost eight years of subsidizing a wealthy oil industry and refusing to appropriately diversify our energy resources, their best and brightest solution is drilling — a path that would further distance us from what should be our shared goal of reducing our dependency on fossil fuels.

    From 1999 to 2007, drilling permits issued for the development of public lands increased by more than 361 percent. Despite this increase, gasoline prices rose exponentially. At that rate, the United States, which uses about 25 percent of the world's energy, but has only an estimated 2 percent of energy reserves, will never drill its way to a solution.

    Additionally, oil companies have refused to even file for permits to build refineries that could process crude oil, thus keeping supplies of gasoline and heating fuel low and prices — and their profits — high. Furthermore, companies already lease 91.5 million acres of on-land and offshore federal lands; yet only 23.7 million acres are actually used for production. One could be justified in concluding that the industry is simply speculating by stockpiling more federal lands.

    There are ways to affect fuel prices. Although it would have slow and minimal effect on current prices, we could start by compelling oil companies to actually develop the already-leased acres or risk losing their permits or incurring an escalating charge for letting them lie unused. The money collected could be applied to lowering prices for consumers or for research and development of alternative sources of energy. Such a bill is being passed by the New Majority in Congress.

    That same New Majority Congress has already passed a law — over strenuous administration opposition — mandating new fuel-efficiency standards for vehicles and requiring new standards for appliances and building materials. The U.S. House of Representatives has also passed bills to combat price fixing, market manipulation and price gouging by unscrupulous companies. It is moving to curb unregulated market speculation that experts claim may be adding $30 or more to the cost of every barrel of oil.

    The Bush administration and its accomplices are opposing these obvious solutions, as well. Pundits are right when they suggest that if this oil-oriented White House isn't going to lead, then it should get out of the way.

    Still, we should not have to wait for sensible action. Together, with the aforementioned legislation, we should act now to move forward on support for mass transit, and on the redirection of fossil fuel subsidies of big oil companies toward support for efficiencies and alternative energy resources.

    So, yes, drill the leases already available as a bridge to the future, but stop misleading the public by claiming that drilling in fishing grounds and conservation areas is the solution America needs and deserves, and let us move forward with an honest and effective energy policy for the future.
    Last edited by Dirty Harry; 01-21-10 at 01:09 PM.

  10. #100
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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    The government is preventing drilling and put so many laws and rules on building a refinery it is not profitable.


    CNSNews.com - Let Oil Drilling Ban Expire, Top Republican Says

    H.R. 5254 [109th]: Refinery Permit Process Schedule Act (GovTrack.us)
    Let Oil Drilling Ban Expire, Top Republican Says
    Thursday, August 21, 2008

    Just as I thought, campaign hype aimed at those unaware we passed peak oil decades ago.
    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

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