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Big Oil shoots Obama the finger!

Wiseone said:
Dude I posted an article about a Congressional hearing about them, the executives of several oil companies attended, what more do you want?
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According to this industry publication, there are 176 fewer rigs in the rig count than this time last year.

http://www.energydigger.com/rig-counts/u.s.-rig-counts.aspx

An industry blog that explains the reality of what's going on in the GOM

Behind the Latest Gulf Rig Count Numbers | Blog | Energy Tomorrow

Let's stop pretending that oil and gas drilling on Federal land is experiencing some sort of record breaking boom. Because...it's not...and I'll put way more credibility in the opinions of actual industry experts over a congressional hearing.
 
apdst said:
According to this industry publication, there are 176 fewer rigs in the rig count than this time last year.

energyDigger :: Rotary Rig Counts - United States

An industry blog that explains the reality of what's going on in the GOM

Behind the Latest Gulf Rig Count Numbers | Blog | Energy Tomorrow

Let's stop pretending that oil and gas drilling on Federal land is experiencing some sort of record breaking boom. Because...it's not...and I'll put way more credibility in the opinions of actual industry experts over a congressional hearing.
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Not me. Both are serving the oil industry interests over the nation's interests.
 
Last edited:
joko104 said:
Its actually has now gone as high as $6.60 per gallon in one region of California.
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Well I live in California, and to be honest its probalably gona have to hit a brick wall before things get better out here. :2brickwal Right now I am dealing with CARB and their stupidity. Oh happy happy joy joy.:coffeepap
 
I've never heard so many people happy over high gas prices. You people are sick in the head. Why is it in order for your side to win America has to lose?
 
AdamT said:
Wrong again!

"• Romney said: “All of the increase in natural gas and oil has happened on private land, not on government land.”

False.

A Congressional Research Service report, U.S. Crude Oil Production in Federal and Non-Federal Areas, found that oil drilling on federal lands has risen under Obama when compared to 2007. As is often pointed out in these discussions, the industry that keeps demanding more access to public land is currently sitting on 7,000 approved drilling permits that it hasn’t begun exploring or developing.

Whether you call them Pants-on-Fire or Pinocchios or Flat-out Falsehoods, Romney operates no differently in the energy arena than when he's talking about anything else. If he's talking, he's lying."

Romney's energy claims at debate match many of his other claims: They're bogus - Democratic Underground
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I can tell you why they are not drilling on public land, they dont have enough rigs to do it now. I have inside knowledge and thats the prime reason. They are struggling to build rigs to meet the demand on private land. Oil is a boom bust type business, so they are gona be wary about building too many rigs, and then not be able to work them.
 
apdst said:
What possible motivation could there be for industry experts to LIE about the rig count? Obviously they're all in cahoots, because they all seem to be telling the same lie.
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Ya think?




123456
 
apdst said:
What possible motivation could there be for industry experts to LIE about the rig count? Obviously they're all in cahoots, because they all seem to be telling the same lie.

This is the Baker Hughes rig count; famous for in the industry for it's accuracy.

Baker Hughes Rotary Rig Count - US Gas and Oil
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If you dig into that report you find that the rigs are being stacked out right now. The oil companies want to find out which way the political winds are blowing before they start a next years drilling programs. It happens every election season.
 
PirateMk1 said:
If you dig into that report you find that the rigs are being stacked out right now. The oil companies want to find out which way the political winds are blowing before they start a next years drilling programs. It happens every election season.
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Offshore rigs have been stacked since the moratorium. However, I agree that there's a shortage of land rigs, because of the booms in Pennsylvania, Texas and North Dakota.
 
Risky Thicket said:
Ya think?




123456
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The Baker Hughes Report is very accurate. I suscribe to it to keep track of what wells and rigs in California are being drilled and where. I do a LOT of business with the downhole fluids companies shipping their product to the rig sites.
 
apdst said:
Offshore rigs have been stacked since the moratorium. However, I agree that there's a shortage of land rigs, because of the booms in Pennsylvania, Texas and North Dakota.
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Offshore drilling out in California is going pretty steady right now. Theres a boom in California too, one of the reasons I havent left. When it runs out I will probaly move.
 
Since CA isn't in play for the election, this localized spike isn't going to do much to hurt Obama. Here I paid $3.79 last time I filled up(after the debate) and that was actually .08 lower than it was the week before. What I do find interesting is the premise behind the OP that oil companies manipulate their prices based on political factors rather than the market influences they have steadfastly claimed.
 
AdamT said:
Yes, and that is the reason that prices have blown up there. But let's not let facts get in the way of a good rant.

But the good news is that if Romney is elected we won't have any of those pesky EPA regulations. Chevron can put one of these puppies up right next door to Mistervieritas' shack!

8574d8a7ed0d4e01245156cdfa2190aa.jpg


15949753-md.jpg
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Show where Romney will get rid of all EPA regulations.
 
joko104 said:
In the debate, Obama went after Big Oil declaring he wants to cut off tax breaks to big oil.

Romney responds:
that the country runs on oil,
that he won't cut the tax deductions,
that Obama gave massively more to green-energy (Romney declaring it a failure),
that Obama has not allowed 1 new oil lease on federal land,
that Romney is going to open up federal land including Alaska and offshore drilling, and
that this will raise huge revenue for lease royalties for the federal government to help address the growing deficit...

for which Obama remained totally silent on allowing any new drilling it reasonable to conclude Obama will continue to not allow any new drilling offshore or on federal land.

Hmmmm, which one of those two candidates would Big Oil prefer???

Within 72 hours, gasoline and diesel prices jumps up to as high as $5.50 per gallon! A nearly 50% increase!!

Why, oh why, do I NOt think this is to HELP Obama's re-election? :confused:

I think Big Oil just responded to Obama a big F U! :mrgreen:
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The spike in oil out in California has absolutely nothing to do with "Big Oil." It has to do with "Big Government." CA state law requires refineries to add various additives their gasoline creating seasonal blends as well as and a slight change to the refining process, supposedly due to being better for the environment. They have a summer blend and a winter blend. They ran low on their summer blend and already had been converting refineries over to do the winter blend. So, supply is low, demand is high...what happens? Price goes up.

As far as cost per barrel...well, you can blame Ben Bernanke for that one.
 
This is a petty peeve of mine that "PISS's" me off....anyone that believes gas prices are on the up and up is a damn FOOL in my opinion.
They raise the price of oil and gas at will for MASSIVE PROFITS....there is absolutely NO REASON gasoline has been up this high except to manipulate voters by keeping the misery index up and "GREED" There is absolutely NO DEFENSE for an industry to get billions in subsides from the same taxpayers they "ROB" at the pump at will....and an industry that makes hundreds of billions in profits and breaks a new profit record everytime they SCREW the people that pay for their subsidies.
Big oil subsidies started decades ago and the purpose was for them to build new refineries to increase capacity..DECADES later not only didnt they build any new refineries they havent expanded any and every friggin spring they raise the prices SKYHIGH and the excuse is they have to do maintenance on their refineries and cant keep up with demand....If you believe their "CRAP" then your a damn fool...PERIOD
 
lpast said:
This is a petty peeve of mine that "PISS's" me off....anyone that believes gas prices are on the up and up is a damn FOOL in my opinion.
They raise the price of oil and gas at will for MASSIVE PROFITS....there is absolutely NO REASON gasoline has been up this high except to manipulate voters by keeping the misery index up and "GREED" There is absolutely NO DEFENSE for an industry to get billions in subsides from the same taxpayers they "ROB" at the pump at will....and an industry that makes hundreds of billions in profits and breaks a new profit record everytime they SCREW the people that pay for their subsidies.
Big oil subsidies started decades ago and the purpose was for them to build new refineries to increase capacity..DECADES later not only didnt they build any new refineries they have expanded any and every friggin spring they raise the prices SKYHIGH and the excuse is they have to do maintenance on their refineries and cant keep up with demand....If you believe their "CRAP" then your a damn fool...PERIOD
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Profits in the oil business have been steady for decades at 7-8%.. Don't assume anything.

And yes.. refineries have to undergo maintenance twice a year.. to avoid fires and explosions.
 
sharon said:
Profits in the oil business have been steady for decades at 7-8%.. Don't assume anything.

And yes.. refineries have to undergo maintenance twice a year.. to avoid fires and explosions.
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nonesense...........
 
sharon said:
Reality is not there just to challenge your ego.
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Here sharon...I am not going to go google and find tons of articles on their profits AGAIN...ive done that more than a couple of times on here and Im just not doing it again...Sorry...I should have explained that to you in the first post.. but here this is just one...and Im not posting anymore...:)
Just because they tell you something doesnt mean its true sharon...theres tons of other sources out there...you need to read many of them to be able to make an honest judgement.
When we had the last Oil shortage and the prices went through the roof.


Big Oil’s Banner Year
Higher Prices, Record Profits, Less Oil



General economic theory holds that companies will produce more of a good if its price is higher, or if it receives subsidies. Funny that these rules didn’t seem to apply to Big Oil in 2011, when the highest oil price since 1864 and $2 billion in subsidies to the five largest oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell—yielded lower oil production than in 2010. But these five oil companies combined made a record-high $137 billion in profits in 2011—up 75 percent from 2010—and have made more than $1 trillion in profits from 2001 through 2011.[1] This exceeds the previous record of $136 billion in profits in 2008.


Big Oil



Oil: Exxon Chairman's $400 Million Parachute

Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

Last November, when he was still chairman of Exxon, Raymond told Congress that gas prices were high because of global supply and demand.

"We're all in this together, everywhere in the world," he testified.


Oil: Exxon Chairman's $400 Million Parachute - ABC News


This is a company that needs "TAXPAYER SUBSIDIES" to give 400 million retirements to their pig at the trough....NO MAN IS WORTH THAT....
 
American said:
Show where Romney will get rid of all EPA regulations.
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He won't get rid of all EPA regulations. But, he has suggested that he wants to deregulate coal, increase the use of fracking, and he has said that he opposes the Clean Air Act, because he doesn't believe carbon emissions are harmful, saying "I don't think carbon is a pollutant in the sense of harming our bodies."
 
lpast said:
Here sharon...I am not going to go google and find tons of articles on their profits AGAIN...ive done that more than a couple of times on here and Im just not doing it again...Sorry...I should have explained that to you in the first post.. but here this is just one...and Im not posting anymore...:)
Just because they tell you something doesnt mean its true sharon...theres tons of other sources out there...you need to read many of them to be able to make an honest judgement.
When we had the last Oil shortage and the prices went through the roof.


Big Oil’s Banner Year
Higher Prices, Record Profits, Less Oil



General economic theory holds that companies will produce more of a good if its price is higher, or if it receives subsidies. Funny that these rules didn’t seem to apply to Big Oil in 2011, when the highest oil price since 1864 and $2 billion in subsidies to the five largest oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell—yielded lower oil production than in 2010. But these five oil companies combined made a record-high $137 billion in profits in 2011—up 75 percent from 2010—and have made more than $1 trillion in profits from 2001 through 2011.[1] This exceeds the previous record of $136 billion in profits in 2008.


Big Oil



Oil: Exxon Chairman's $400 Million Parachute

Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

Last November, when he was still chairman of Exxon, Raymond told Congress that gas prices were high because of global supply and demand.

"We're all in this together, everywhere in the world," he testified.


Oil: Exxon Chairman's $400 Million Parachute - ABC News


This is a company that needs "TAXPAYER SUBSIDIES" to give 400 million retirements to their pig at the trough....NO MAN IS WORTH THAT....
Click to expand...

You can't distinguish between volumes and margins.

There are NO shortages.
 
Wiseone said:
What he said.

http://www.nytimes.com/2011/05/13/business/13oil.html?_r=0

Here's a guy arguing for the subsidies:
The Surprising Reason That Oil Subsidies Persist: Even Liberals Love Them - Forbes
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The Forbes article does a pretty good job of demonstrating how the continued cry against Big Oil is nothing more than mindless pandering to mindless sycophants to get their votes. It very clearly discusses the various government programs, especially the difference between an actual 'subsidy' like the HEAP program...free government(taxpayer) money to individuals and a 'tax break'...keeping more of what you have earned...why they exist, and who benefits more.
 
sharon said:
You can't distinguish between volumes and margins.

There are NO shortages.
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I have no idea what your talking about sharon :) Heres what I do know...big oil makes obscene profits at their will and its absolutely ridiculous and poliitical thievery to give them tax payer subsidies while they laugh uproariously as they ROB us at the pump....it doesnt take rocket science to know the whole big oil thing is created BS and blatant thievery
 
I think an interesting poll question would be this:

What is worse for the American economy, an oil spill, or $6 gasoline?

Crunch the numbers, and I can tell you the "correct" answer to that question. So, it's really not a matter of opinion at all.

BUT WAIT.......

To liberals, an oil spill is far worse than $6 gasoline. Evidence that they believe that is the way they support Obama, and bash Big Oil.
 
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