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Oil rises above $90 amid US crude supply drop

The Prof said:
ask obama

Obama Calls Tax Cuts the 'Right Thing to Do'

ask bubba

At Obama's side, Clinton backs tax deal - Politics - White House - msnbc.com
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so you expect a politician to do the right thing when they are trying to stay in office? It's called pandering...
Clinton will back up Obama on just about any topic.

besides, income taxes and gasoline taxes are not exactly the same. Even the "poor" who don't pay income taxes at all will share the load. If we want our grocery stores to have food, we need to pay for their transportation expenses.
 
Lord Tammerlain said:
Ethanol is a Bush admin era program

Cars today are safer then they have been in the past and actually far heavier then cars of 20 years ago. The original VW GTi weighed around 2000lbs, todays GTi weighs around 3000 lbs. All the cars I have driven old and new do well in the cold.

And re Erod


The US does not have more oil then the rest of the world, it has oil shale which can not be profitably extracted at this point in time in vast quantities. You want to pay $10 a gallon for gas, try to use Oil shale to power America
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There is new technology if Obama and the environmentilist nut jobs will let us use it.

New American Oil Discoveries From Horizontal Drilling | Shale Oil Plays Blog
 
washunut said:
I am all in favor of higher gas prices. The only way to get sustainable high prices is to have a high tax. No politician has the guts to do the right thing and have let's say a $1 gas surcharge.

I then do agree we could have somewhat less usage. We still need to develop our resources to really make a dent in what we import.
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So you want transportation costs that will bring huge costs increases to everything you buy
 
UtahBill said:
Do you have a solution to this problem? I don't....
Farmers have to make a profit, even WalMart has to make a profit....
I suppose we could force the rich to pony up more money. Perhaps the Saudi Royal Family will help out....
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Yet we are taking away farm land for food growing with wind turbines and ethanol
 
Lord Tammerlain said:
That new technology you are talking about is being used heavily in Penn, and New York to get shale gas. The amount of drilling going on in those areas is quite heavy, and I am sure that it is being used in Texas as well
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It could be used in Bakken if the government will allow it.
 
ptif219 said:
It could be used in Bakken if the government will allow it.
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It is being used in the Bakken oil fields. North Dakota is has a large amount of oil drilling going on

Bakken Formation - Wikipedia, the free encyclopedia

New rock fracturing technology available starting in 2008 has caused a recent boom in Bakken production. By the end of 2010 oil production rates had reached 458,000 barrels per day outstripping the capacity to ship oil out of the Bakken
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Darn govenment preventing drilling in the Bakken oil fields (opps it isnt)
 
UtahBill said:
The right thing to do is not often the popular thing to do....
why should we pay less for gasoline than Mexico, for example? If the Mexican govt needs more money, they raise gasoline taxes. It hits everybody in their wallet, an equal opportunity tax....
Should be done on a state level first, no sense getting the feds in the middle of state highway projects.
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Not true. Price of regular gas in Mexico on February 12 was $2.81 American dollars. About the same as here.

The gasoline tax increase you propose is the worst thing imaginable in this economy. A dollar increase in federal gas taxes would send the economy immediately into a double dip recession. Inflation would strangle everyone with the huge increase in all goods delivered, which is everything.
 
MaggieD said:
I wonder if that's true, Erod. I wonder if oil-producing nations resent us for this very reason.

Since oil is a finite resource, and we know it is, are we really hoarders?
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We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
 
Mickey Shane said:
We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
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Not according to the republicans. They want us to pump all our oil out of the ground and use it up as fast as possible to keep gas prices down.
 
Mickey Shane said:
We have to hoard our oil. The ME cannot sustain the amount of oil production at current levels indefinitely. When they start to deplete their reservoirs, all Hell's going to break loose. We have to be able to mobilize our armed forces after the ME runs dry.

I will not witness this in my lifetime. But, push will come to shove sometime in the future. Maybe the switch to nuclear fuels will occur seamlessly and maybe it won't. We must conserve our crude oil reserves just in case.
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Problem is, we don't have the refineries to turn the oil to gasoline here in the U.S. I've heard it estimated that it would take 10 plus years to build the refining capacity to create enough gasoline for our country's needs.

We need to drill and refine our own oil, while working feverishly on alternative energy solutions. You really can do both; not that big of a deal.
 
Erod said:
Problem is, we don't have the refineries to turn the oil to gasoline here in the U.S. I've heard it estimated that it would take 10 plus years to build the refining capacity to create enough gasoline for our country's needs.

We need to drill and refine our own oil, while working feverishly on alternative energy solutions. You really can do both; not that big of a deal.
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US refineries run at 80 to 90 capacity to meet all our needs and export refined products.

http://www.eia.doe.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm

Oil companies do not want more refineries because that would lead to a surplus driving prices and profits down. Don't you republicans know anything about business or supply and demand?
 
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USA_1 said:
US refineries run at 80 to 90 capacity to meet all our needs and export refined products.

U.S. Refinery Utilization and Capacity

Oil companies do not want more refineries because that would lead to a surplus driving prices and profits down. Don't you republicans know anything about business or supply and demand?
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Yes and no. Our refineries are built to refine the type of oil we import; however, I've read that the oil here is a different composition (more sulfer, etc) and requires a different type of refinery.

I don't profess to be an expert on this, but I've heard that we don't have the facilities in place to do everything on our own, and that it would take 10 years for us to get to that point.
 
Gill said:
Not true. Price of regular gas in Mexico on February 12 was $2.81 American dollars. About the same as here.

The gasoline tax increase you propose is the worst thing imaginable in this economy. A dollar increase in federal gas taxes would send the economy immediately into a double dip recession. Inflation would strangle everyone with the huge increase in all goods delivered, which is everything.
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What is your source? Mine is me, being there last month. Our driver took us around the city for about 6 hours.
The worst thing imaginable? How long shoud we go on being subsidized by our government? The quickest way for our leaders to totally subjugate us is to make us dependent on subsidies.
 
Erod said:
Yes and no. Our refineries are built to refine the type of oil we import; however, I've read that the oil here is a different composition (more sulfer, etc) and requires a different type of refinery.

I don't profess to be an expert on this, but I've heard that we don't have the facilities in place to do everything on our own, and that it would take 10 years for us to get to that point.
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Find a source and then we can discuss it.

http://www.eia.gov/todayinenergy/detail.cfm?id=210#
U.S. exports of motor gasoline hit an all-time high in November 2010. The bulk of the record-level motor gasoline exports went to Mexico, where refinery maintenance during the month resulted in a tightening of gasoline supplies. November gasoline exports were equivalent to 5% of U.S. gasoline consumption.
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USA_1 said:
Find a source and then we can discuss it.
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Venezuelan oil is not as easy to refine as saudi oil.....most of our refineries are set up for the good stuff. Add to that not enough new refineries being built (I think the number is NONE), and lack of storage for their products, and we have a problem.
No need to find a source, it was in the news often enough during the hurricanes that hit New Orleans and East Texas.
 
UtahBill said:
Venezuelan oil is not as easy to refine as saudi oil.....most of our refineries are set up for the good stuff. Add to that not enough new refineries being built (I think the number is NONE), and lack of storage for their products, and we have a problem.
No need to find a source, it was in the news often enough during the hurricanes that hit New Orleans and East Texas.
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do you really think the oil companies WANT more refineries?
 
UtahBill said:
What is your source? Mine is me, being there last month. Our driver took us around the city for about 6 hours.
The worst thing imaginable? How long shoud we go on being subsidized by our government? The quickest way for our leaders to totally subjugate us is to make us dependent on subsidies.
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Mx_fuel_prices
 
liblady said:
do you really think the oil companies WANT more refineries?
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Yes, and in places other than the few places they are located now. Production and Distribution are often impaired during hurricane season. Seems the EPA has rules, and the NIMBY crowd have their say as well. Funny that the public doesn't want refineries in their back yards, but they want a gas station on every corner, with low subsidized prices.:2razz:
 
USA_1 said:
Don't you republicans know anything about business or supply and demand?
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don't you fantasy chasing butterflies know anything about political reality

gas tax hikes are on no one's table
 
Erod said:
We are the laughingstock of the world. We're sitting on more oil than probably any country in the world, and yet, we won't use our OWN resources.

Stupid.
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You're really not. Russia's got the world's largest oil reserves, then Saudi Arabia, and on. The oil under Alaska could sustain the US at current rates for about 11 months. The solution is to find better energy, not vainly wish that oil will start growing in the dried up Texan rigs.
 
The Prof said:
don't you fantasy chasing butterflies know anything about political reality

gas tax hikes are on no one's table
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I don't support gas tax hikes. I believe taxes are too high. Pay attention so not to embarrass yourself. Again.
 
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