View Poll Results: Additional domestic drilling will reduce oil prices

Voters
68. You may not vote on this poll
  • Yes

    33 48.53%
  • No

    19 27.94%
  • Maybe

    16 23.53%
Page 22 of 25 FirstFirst ... 122021222324 ... LastLast
Results 211 to 220 of 244

Thread: Domestic Drilling

  1. #211
    Professor

    Join Date
    Feb 2011
    Location
    MI and AZ
    Last Seen
    03-15-15 @ 01:29 PM
    Gender
    Lean
    Other
    Posts
    1,581

    Re: Domestic Drilling

    Quote Originally Posted by croniccynic View Post
    There is, but source means absolutely nothing to a gasoline or diesel consumer buying by the liter or gallon. Global demand is what determines oil pricing, not US emotion or politics. The US imports close to 70% of oil consumption and that number is expected to reach 75% within the next few years, regardless of increased US drilling. So, it wouldn't matter if the US reversed that number, importing 25%, it would still pay global price per barrel for all oil. Naivete about the economic structure of oil production is almost as amusing as people buying a Chevy or Ford because they want to buy an 'American' vehicle when more than 50% of the components of a US marque are imported.
    Today the capacity for the world’s oil ‘production’ far exceeds its use. The Saudi’s alone can easily make up for the lost Libyan oil. Global demand isn’t the first order driver for the price of oil. Controlling the supply, which the Saudi’s and others do, and speculation are the first and second order drivers. To stop this there would need to be a benevolent supplier (One that is not trying to maximize profit.) of oil with the capacity on the order of the Saudi’s. None of North America’s wells are run by benevolent suppliers.

  2. #212
    Professor

    Join Date
    Feb 2011
    Location
    MI and AZ
    Last Seen
    03-15-15 @ 01:29 PM
    Gender
    Lean
    Other
    Posts
    1,581

    Re: Domestic Drilling

    There is a nationalized oil company that is working very well, too well. From wiki:
    Saudi Arabian Oil Company, is the state-owned national oil company of Saudi Arabia. It is the world's most valuable company, estimated at 781 billion US$ in 2006, while more recent estimates of 2010 put its value in the range 2.2 trillion USD to 7 trillion USD. It is also the oil corporation with the largest proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was known as just Aramco between the years of 1933-1988, an acronym for Arabian American Oil Company.
    Its yearly production is 3.4 billion barrels and it managed over 100 oil and gas fields in Saudi Arabia totaling at least 264 billion barrels of oil reserves and 253 trillion scf of gas reserves.
    Among those fields fully owned by the company is the Ghawar Field, the world's largest oil field; the Safaniya Field, the world's largest offshore field; and the Shaybah Field, one of the world's largest of its kind.

  3. #213
    Banned
    Join Date
    Feb 2011
    Location
    Los Angeles
    Last Seen
    01-18-13 @ 07:26 PM
    Gender
    Lean
    Libertarian
    Posts
    1,631

    Re: Domestic Drilling

    Quote Originally Posted by Whovian View Post
    No

    It's perfectly clear that Obama does not want US domestic drilling, because it's perfectly clear that Soros and the other Hate America leftists don't want it.

    Also, he's campaigned vigorously against domestic drilling, even to the point of closing vast tracts to drilling as he "opened" others. His ploy is obviously cynical and political, and exactly what one expects of a teleprompter reader following orders from outside.

    What Obama is doing is posturing. Certainly if he got re-elected he'd renege on that goal before he could misspeak the Oath of Office again.
    Last edited by Mayor Snorkum; 05-15-11 at 04:59 PM.

  4. #214
    Professor

    Join Date
    Feb 2011
    Location
    MI and AZ
    Last Seen
    03-15-15 @ 01:29 PM
    Gender
    Lean
    Other
    Posts
    1,581

    Re: Domestic Drilling

    Quote Originally Posted by Mayor Snorkum View Post
    No

    It's perfectly clear that Obama does not want US domestic drilling, because it's perfectly clear that Soros and the other Hate America leftists don't want it.

    Also, he's campaigned vigorously against domestic drilling, even to the point of closing vast tracts to drilling as he "opened" others. His ploy is obviously cynical and political, and exactly what one expects of a teleprompter reader following orders from outside.

    What Obama is doing is posturing. Certainly if he got re-elected he'd renege on that goal before he could misspeak the Oath of Office again.
    Huh? I don't understand your post re. the issue. Am I just stupid?

  5. #215
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 12:35 AM
    Gender
    Lean
    Conservative
    Posts
    57,067

    Re: Domestic Drilling

    Quote Originally Posted by OhIsee.Then View Post
    There is a nationalized oil company that is working very well, too well. From wiki:
    Saudi Arabian Oil Company, is the state-owned national oil company of Saudi Arabia. It is the world's most valuable company, estimated at 781 billion US$ in 2006, while more recent estimates of 2010 put its value in the range 2.2 trillion USD to 7 trillion USD. It is also the oil corporation with the largest proven crude oil reserves and production. Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was known as just Aramco between the years of 1933-1988, an acronym for Arabian American Oil Company.
    Its yearly production is 3.4 billion barrels and it managed over 100 oil and gas fields in Saudi Arabia totaling at least 264 billion barrels of oil reserves and 253 trillion scf of gas reserves.
    Among those fields fully owned by the company is the Ghawar Field, the world's largest oil field; the Safaniya Field, the world's largest offshore field; and the Shaybah Field, one of the world's largest of its kind.
    i think you are missing my point. I didn't ask how the oil company did. I asked how the country was doing, how the people were doing.

    And Saudi Arabia is in trouble - they have a rentier economy that is utterly and completely dependent upon fluctuating oil markets.

  6. #216
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Domestic Drilling

    Quote Originally Posted by cpwill View Post
    And Saudi Arabia is in trouble - they have a rentier economy that is utterly and completely dependent upon fluctuating oil markets.
    Unlike the US, Saudi Arabia is investing heavily in alternative energy for the future:


    Saudi Arabia, Qatar & UAE Investing Heavily in Clean Energy


    "Saudi Arabia, Qatar and the United Arab Emirates are all investing heavily in clean energy technologies. It might seem counterintuitive that some of the most oil rich countries on Earth are investing in the promotion of a competitor technology, but as an article in today's NY Times points out, the leaders of these Gulf Emirates are well aware that their vast wealth comes from a limited resource, and they are actively interested in developing the new energy technology for the future to make their economies sustainable even after all their oil is pumped."
    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

  7. #217
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 12:35 AM
    Gender
    Lean
    Conservative
    Posts
    57,067

    Re: Domestic Drilling

    good. hopefully when (if) their supply runs out, they will be able to switch over to that, then.

    but their economy will remain rentier until they develop their own market. and currently theirs sucks.

  8. #218
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Domestic Drilling

    Quote Originally Posted by cpwill View Post
    good. hopefully when (if) their supply runs out, they will be able to switch over to that, then.

    but their economy will remain rentier until they develop their own market. and currently theirs sucks.
    We are still kissing their ass so I guess they are not doing too badly?
    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

  9. #219
    Banned
    Join Date
    Feb 2011
    Location
    Los Angeles
    Last Seen
    01-18-13 @ 07:26 PM
    Gender
    Lean
    Libertarian
    Posts
    1,631

    Re: Domestic Drilling

    Quote Originally Posted by OhIsee.Then View Post
    Huh? I don't understand your post re. the issue. Am I just stupid?
    Should the Mayor answer this with candor, or tact?

  10. #220
    Banned
    Join Date
    Feb 2011
    Location
    Los Angeles
    Last Seen
    01-18-13 @ 07:26 PM
    Gender
    Lean
    Libertarian
    Posts
    1,631

    Re: Domestic Drilling

    Quote Originally Posted by Catawba View Post
    Unlike the US, Saudi Arabia is investing heavily in alternative energy for the future:


    Saudi Arabia, Qatar & UAE Investing Heavily in Clean Energy


    "Saudi Arabia, Qatar and the United Arab Emirates are all investing heavily in clean energy technologies. It might seem counterintuitive that some of the most oil rich countries on Earth are investing in the promotion of a competitor technology, but as an article in today's NY Times points out, the leaders of these Gulf Emirates are well aware that their vast wealth comes from a limited resource, and they are actively interested in developing the new energy technology for the future to make their economies sustainable even after all their oil is pumped."
    Saudi Arabia cannot export SUNLIGHT.

    So, when their oil runs out, they're in deep camel poo.

Page 22 of 25 FirstFirst ... 122021222324 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •