View Poll Results: Should we temporarily subsidize domestic oil shale production in response to OPEC?

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  • Yes, if prices drop too low we should.

    6 17.14%
  • No.

    29 82.86%
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Thread: Should we temporarily subsidize oil shale production in response to OPEC

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    no!!!



    Wow...23 votes, 23 'no's'.

    I am impressed and surprised.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by radcen View Post
    Yes and no. They are in the money making business, hence my inclusion regarding long-term thinking. Besides, many corporations diversify. Nothing says they are limited to oil only.
    Well, again, the are investing $100's of millions every year in alternative energy. Exxon Mobile has been investing in electric vehicle research for quite some time.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Yes if its necessary of course we should, assuming its a temporary program and the costs aren't outrageous. It would be a mistake to allow years of project development, infrastructure construction, well exploration, etc to go to waste and for companies to make a mass exodus from the market. When this glut ends and prices rise we'd be in a similar position of having to wait years to reach our present levels of production and export potential (especially if the impetus for building the terminals somehow dried up). This is clearly an example where a bit of planning and targeted support makes perfect sense. Ideology shouldn't trump pragmatism.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by DA60 View Post
    no!!!



    Wow...23 votes, 23 'no's'.

    I am impressed and surprised.
    You should not be, the conservatives and libertarians don't like subsidizes to start with.
    The liberal, while they usually like subsidizes, don't like anything that benefits big oil.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by iacardsfan View Post
    Why don't we let the market do as the market does.
    First of all oil is NOT a free market commodity. An oil cartel made up mostly of dictators control costs for the most part but creating artificial shortages and surpluses.

    Secondly, before its even pumped out of the ground, high dollar investors, the oil futures market, buys up almost all of the word's supply and then jacks up the price that you and I eventually have no choice but to pay.

    Thirdly, oil has a monopoly on personal transportation and as such a stranglehold on the US and world economy. Free markets don't allow monopolies.

    Fourthly, US dependance on oil as its exclusive transportation energy source has and continues to fund acts of terrorism against the very people paying through the nose for it, me and you.

    Fifthly, the military costs to defend "our vital interests" in the region (no-fly zones, Desert Storm, etc.) is exponentially more expensive than subsidizing electric cars.

    Sixthly, the military costs to fighting wars in response to terrorism in the region is exponentially more expensive than subsidizing electric cars.

    IMHO, this is not a government intrusion into the free market. This is a national security emergency and offers a strategic option in defunding our enemies.
    Having opinions all over the map is a good sign of a person capable of autonomous thinking. Felix -2011

  6. #56
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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by longview View Post
    You should not be, the conservatives and libertarians don't like subsidizes to start with.
    The liberal, while they usually like subsidizes, don't like anything that benefits big oil.
    I agree, but I am surprised there are not more economic nationalists on here that see it as a competition between our nation and OPEC.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by Declan View Post
    No, we should release oil out of the strategic reserves to maintain lower prices to really stick it to OPEC.
    On January 23, 2007, President Bush suggested in his State of the Union speech that Congress should approve expansion of the current reserve capacity to twice its current level.[11]

    In April 2008, Speaker Pelosi called on President Bush to suspend purchases of oil for the Strategic Petroleum Reserve (SPR) temporarily.

    On May 12, 2008, Rep. Peter Welch (D, Vermont) and 63 co-sponsors introduced the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act bill (H.R.6022), to suspend the acquisition of petroleum for the Strategic Petroleum Reserve.[12]

    On May 16, 2008, the U.S. Department of Energy said it would halt all deliveries to the Strategic Petroleum Reserve sometime in July. This announcement came days after Congress voted to direct the Bush administration to do the same. The U.S. Department of Energy did not state when the shipments would resume.[13]

    On May 19, 2008, President Bush signed the Act passed by the Congress, which he previously opposed.[14]

    On January 2, 2009, the U.S. Energy Department said that it would begin buying approximately 12,000,000 barrels (1,900,000 m3) of crude oil to fill the Strategic Petroleum Reserve, replenishing supplies that were sold after hurricanes Katrina and Rita in 2005. The purchase will be funded by the roughly $600 million received in 2005 from the emergency sales.

    On October 20, 2014, a report by the U.S. Government Accountability Office (GA0) recommended reducing the size of the Reserve. According to the report, the amount of oil held in reserve exceeds the amount required to be kept on hand since the need for foreign imports of crude oil have decreased in recent years. The report said the U.S. Department of Energy agreed with the GAO’s recommendation
    Strategic Petroleum Reserve (United States) - Wikipedia, the free encyclopedia

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by longview View Post
    You should not be, the conservatives and libertarians don't like subsidizes to start with.
    The liberal, while they usually like subsidizes, don't like anything that benefits big oil.
    Good points.

    Btw, there are now 2 'yes's'...I was afraid it could not last.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    There's a world wide recession/slump/call it what you will. demand is down everywhere, and OPEC haven't cut production to maintain prices. It's not about you. (or US shale)
    Don't work out, work in.

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    Re: Should we temporarily subsidize oil shale production in response to OPEC

    Quote Originally Posted by SouthernDemocrat View Post
    Once again to play the Devils advocate, the problem with that is that it's not a free market. You have private companies here competing with state owned oil companies in OPEC.
    The US already subsidizes the oil sector more than any other sector, they will survive.
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