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Oil industry worries Libya unrest could spread

USA_1 said:
Oil companies worried? Hardly.
The oil companies are jumping for joy. Record profits, here they come.
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On a side note I read an excellent article the other day about just that happening, only believe it or not it was for the US EXPORTING its oil to foreign countries in need of oil.

The Oil Drum | Why are WTI and Brent Oil Prices so Different?

Econbrowser: Brent-WTI spread

Also, IMO a very good analysis of the current situation in libya can be found here if anyone is interested:

Econbrowser: Libya, oil prices, and the economic outlook
 
USA_1 said:
Carter came up with a plan to make the US energy independant and Reagan scrapped it because oil company profits were dropping.
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Synfuel? That was a ****ing joke. That's why Reagan dumped it. if it had been such a groovy idea, the oil companies would have grabbed it and run with it. Think about it.
 
apdst said:
Synfuel? That was a ****ing joke. That's why Reagan dumped it. if it had been such a groovy idea, the oil companies would have grabbed it and run with it. Think about it.
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Reagan scrapped Carters plans because some of his energy policies were driving down oil company profits. Synthetic fuels were just part of it and someday they will be the fuels of the future. The military is already shifting towards it for their future. Do some research.
 
USA_1 said:
Reagan scrapped Carters plans because some of his energy policies were driving down oil company profits. Synthetic fuels were just part of it and someday they will be the fuels of the future. The military is already shifting towards it for their future. Do some research.
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I just can't ask the question enough: if synfuels are so awesome, why aren't private invetors dumping billions of dollars in investments into them?

I think there's a disconnect with most Leftists between what will work on a small scale and what is practical and cost effective enough on a large scale. Can you make a diesel pickup run on used cooking oil? Sure you can. Can you produce enough used cooking oil to fuel 20 million diesel pickups? No way.

The biggest problem with these kinds of energy independence plans, is that they consistantly leave fossil fuels out of the picture.
 
apdst said:
I just can't ask the question enough: if synfuels are so awesome, why aren't private invetors dumping billions of dollars in investments into them?
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Because oil is still relatively cheap and abundant. There is not a lot of profit to be made from synthetic fuels yet. When gas is 10 bucks a gallon the investors will come out of the woodwork.
I never said they were awesome but someday they will be necessary.

I am not referring to corn ethanol. That is the biggest scam in this country.
 
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washunut said:
which dem president dusted it off and ran with it?
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You are right that the Democrats share in the blame. Obama is the first to pick up where Carter left off.
 
Catawba said:
You are right that the Democrats share in the blame. Obama is the first to pick up where Carter left off.
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Clinton fell into the cheap oil trap. Gas was only 99 cents a gallon when he left office. Energy was not a high priority for him.
 
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