RE: Bush made it quite plain today

RE: Bush made it quite plain today (Full Version)

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Irishknight -> RE: Bush made it quite plain today (6/18/2008 4:34:43 PM)
As has already been pointed out, there is not even a need to drill. Its been done. There are so many capped oil wells out there that just need to be uncapped and they can hook up the equipment to start pumping. Texas, Oklahoma, Louisiana, Mississippi and a few other places are all waiting to be pumped dry.

subrob1967 -> RE: Bush made it quite plain today (6/18/2008 4:42:39 PM)
quote: ORIGINAL: slaveboyforyou I don't care what party controls Congress or who wins the Presidency. $4/gallon gasoline is here to stay, neighbors. Actually it's not, it will fall back to somewhere between $50 to $70 per barrel...Within 8 months.

Irishknight -> RE: Bush made it quite plain today (6/18/2008 4:44:29 PM)
quote: ORIGINAL: subrob1967 quote: ORIGINAL: slaveboyforyou I don't care what party controls Congress or who wins the Presidency. $4/gallon gasoline is here to stay, neighbors. Actually it's not, it will fall back to somewhere between $50 to $70 per barrel...Within 8 months. That doesn't mean we'll see that reflected at the pumps. Corporate greedmay keep the prices at 4/gallon long after oil prices drop.

farglebargle -> RE: Bush made it quite plain today (6/18/2008 4:48:08 PM)
quote: ORIGINAL: MissSepphora1 The restrictions on drilling is what is pushing gas prices through the roof. Congress could change all that, yet the liberals refuse. For all those who have the "lalala i can't hear you" attitude, perhaps you should pay a little closer attention to what is actually available here in the US, and the new technology that is being used. What are you planning on doing when you've exhausted the reserves in question? Do not forget to include your plans to replace feedstocks to make Tupperware, etc. Show all work.

subrob1967 -> RE: Bush made it quite plain today (6/18/2008 4:52:21 PM)
quote: ORIGINAL: Irishknight That doesn't mean we'll see that reflected at the pumps. Corporate greedmay keep the prices at 4/gallon long after oil prices drop. Not gonna happen, can't happen, we the consumer knows exactly how much oil sells for, is bought for, and the profit per gallon. Oil execs aren't stupid.

slaveboyforyou -> RE: Bush made it quite plain today (6/18/2008 4:52:35 PM)
quote: I believe if we start drilling now, the speculators will run out of excuses, and the price will balance again. They don't have to have an excuse. All speculators do is invest in oil futures with the hope that prices will increase enough for them to get a return on their investment. They make those predictions on current trends. Short of regulation, they can do that all they want.

slaveboyforyou -> RE: Bush made it quite plain today (6/18/2008 4:57:12 PM)
quote: Actually it's not, it will fall back to somewhere between $50 to $70 per barrel...Within 8 months. No it won't. How the hell are you coming up with that estimate? Do you think China and India are just going to stop buying oil? OPEC isn't increasing output, and we really can't make them. We can't refine anymore than we already are. We don't have the facilities. It would take years to get enough refineries operating to even make a significant difference.

subrob1967 -> RE: Bush made it quite plain today (6/18/2008 5:06:26 PM)
quote: ORIGINAL: slaveboyforyou No it won't. How the hell are you coming up with that estimate? Do you think China and India are just going to stop buying oil? OPEC isn't increasing output, and we really can't make them. We can't refine anymore than we already are. We don't have the facilities. It would take years to get enough refineries operating to even make a significant difference. There is NO SHORTAGE, even with India and China industrialising. New oil fields that put the ME oil fields to shame are being discovered almost monthly. Yes refining capacity is running about 90% now, but the fact still remains supply greatly exceeds demand, and will remain so into the distant future.

Irishknight -> RE: Bush made it quite plain today (6/18/2008 5:13:22 PM)
quote: ORIGINAL: subrob1967 quote: ORIGINAL: Irishknight That doesn't mean we'll see that reflected at the pumps. Corporate greedmay keep the prices at 4/gallon long after oil prices drop. Not gonna happen, can't happen, we the consumer knows exactly how much oil sells for, is bought for, and the profit per gallon. Oil execs aren't stupid. It can happen. If they keep the prices at the inflated rates, what are we going to do? We'll bitch but we'll keep buying gas. And you're right. Oil execs aren't stupid. They've seen that the American consumer has no teeth. They don't have to worry about us biting back.

mantis65 -> RE: Bush made it quite plain today (6/18/2008 5:22:06 PM)
quote: ORIGINAL: MissSepphora1 I believe if we start drilling now, the speculators will run out of excuses, and the price will balance again. Not really I saw a show on discovery channel getting the oil out of the Alaskan ground will be no where near as cheap or easy as it is in Saudi. The cost will passed on at the pump. Even if they did start drilling now India and China will increase their demand

mantis65 -> RE: Bush made it quite plain today (6/18/2008 5:27:48 PM)
quote: ORIGINAL: slaveboyforyou quote: Actually it's not, it will fall back to somewhere between $50 to $70 per barrel...Within 8 months. No it won't. How the hell are you coming up with that estimate? Do you think China and India are just going to stop buying oil? OPEC isn't increasing output, and we really can't make them. We can't refine anymore than we already are. We don't have the facilities. It would take years to get enough refineries operating to even make a significant difference. And these are the same oil companies we think will drill in Alaska the ones that won’t spend money on creating new refineries? Even OPEC told us we need to build more refineries. One bad hurricane season and we could see gas go to 6 bucks a gallon! I personally don’t believe oil companies will spend their own money to drill for new oil I think they will want a government hand out to do so. But we will see….

Irishknight -> RE: Bush made it quite plain today (6/18/2008 5:32:00 PM)
quote: ORIGINAL: mantis65 quote: ORIGINAL: slaveboyforyou No it won't. How the hell are you coming up with that estimate? Do you think China and India are just going to stop buying oil? OPEC isn't increasing output, and we really can't make them. We can't refine anymore than we already are. We don't have the facilities. It would take years to get enough refineries operating to even make a significant difference. And these are the same oil companies we think will drill in Alaska the ones that won’t spend money on creating new refineries? Even OPEC told us we need to build more refineries. One bad hurricane season and we could see gas go to 6 bucks a gallon! I personally don’t believe oil companies will spend their own money to drill for new oil I think they will want a government hand out to do so. But we will see…. OPEC may have told us we need more refineries but the EPA says we don't. If it was so easy to build new refineries why haven't they built one in 50 years? Because the EPA won't back off enough to make it worth their time and money.

Politesub53 -> RE: Bush made it quite plain today (6/18/2008 5:39:52 PM)
quote: As for the speculators, in 2000 approximately $9 billion was invested in oil futures, while today that number has gone up to $250 billion. Now, if any publicly traded company had an additional $241 billion put into its stock in the same period, its stock would rise out of sight too—even if the company was not worth anywhere near that amount of market capitalization. Source : http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945564.htm?chan=rss_topEmailedStories_ssi_5 Even if it was thew case that moil supply was increased. how would it be refined ? Refineries in the EU are running almost at capacity, why would executives build multi billion dollar refineries while the price of your fuel is relatively low ? This is the main reason no refineries have been built since the 70s, returns dont justify the costs involved. There is also the point that some types of oil, is more expensive to turn into petrol, so until the price of oil makes it worthwhile to do so, the oil will stay where it is.

hizgeorgiapeach -> RE: Bush made it quite plain today (6/18/2008 6:08:16 PM)
Ken, my family owns partial mineral rights on some of the Oklahoma oil land you're talking about - and you're right, nothing at all is being done about uncapping still productive wells to start producing again. I wish they would - there was sufficient monthly revenue from even Partial rights on a few wells prior to the Bust out here, that with today's oil prices the revenue checks from those rights would keep my bills paid, my dad's bills paid, a couple of friends' bills paid, and still leave me money to put in the bank as savings! edited to add: During Oklahoma's Oil Bust that Ken mentioned in his post, it wasn't just Rigs/Wells that got shut down - it was Refineries as well. I can think of Several which I've Personally Been At during my childhood and teen years while my grandfather worked for Phillips - all of which now sit turning to rust because there wasn't enough profit in keeping them open. It wouldn't take That much to rehab them, rather than building whole new facilities, and I'm willing to bet that TX, LA, MS, and AR have some of the same sitting around.

UtopianRanger -> RE: Bush made it quite plain today (6/18/2008 6:31:18 PM)
quote: The restrictions on drilling is what is pushing gas prices through the roof. That's a lie for dummies to believe..... http://www.youtube.com/watch?v=PNp0y0SjOkY&feature=related - R

thornhappy -> RE: Bush made it quite plain today (6/18/2008 7:12:52 PM)
quote: ORIGINAL: MissSepphora1 The restrictions on drilling is what is pushing gas prices through the roof. Congress could change all that, yet the liberals refuse. For all those who have the "lalala i can't hear you" attitude, perhaps you should pay a little closer attention to what is actually available here in the US, and the new technology that is being used. Speaking of offshore drilling, there's a shortage of drill ships right now. thornhappy

Alumbrado -> RE: Bush made it quite plain today (6/18/2008 8:15:32 PM)
Oh, they will never run out of excuses... too many SUVs, fear of a weak dollar, fear of a strong dollar, rising wholesale costs, falling wholesale costs, too much production, too little production, too much demand, too little demand, possible unrest somewhere in the world.... The only thing that will bring prices down is when they run out of suckers.

jlf1961 -> RE: Bush made it quite plain today (6/18/2008 8:20:59 PM)
quote: ORIGINAL: MissSepphora1 Oh, and I think anyone who answers should list their mpg. Mine is 28-30. The car my sister drives runs about 25 to 30, depending on where she is going, town or work. But in my case, I have a bit of a problem, how do you figure mpg on a horse? And once more, the oil industry in the states was deregulated by Ronald Reagan, remember him??? A cap was set on all oil in existing fields, $42 a gallon. Bush sr. and Bush jr. made their money how???? In the f*cking oil field, particularly, oil field exploration, i.e finding NEW fields. Do you think that Junior is going to do one damn thing to rescind that price cap? Well, do ya? Hypothetical conversation. "Hey dad, the people are really getting pissed about oil prices." "Look junior, this is the last year you will be in office, you royally screwed up in Iraq, shoulda waited till this term for that son, but if you do one damn thing that kills my dividends, I will tan your hide!" But then I am a paranoid SOB, but do remember that both Bushes made their money looking for oil, not pumping it.

Zensee -> RE: Bush made it quite plain today (6/18/2008 8:55:52 PM)
quote: ORIGINAL: MissSepphora1 The restrictions on drilling is what is pushing gas prices through the roof. Congress could change all that, yet the liberals refuse. For all those who have the "lalala i can't hear you" attitude, perhaps you should pay a little closer attention to what is actually available here in the US, and the new technology that is being used. Bwahahahaha! I heard Bush pissing this on on the CBC news (yes we pay careful attention to what happens south of the border). Give us a break - Liberals caused high gas prices? How about Bush's phoney war on terror? Could that have anything to do with it? Like friggin' everything? Lalalalalalalalalala.... Z.

slvemike4u -> RE: Bush made it quite plain today (6/18/2008 9:07:56 PM)
quote: ORIGINAL: MissSepphora1 The restrictions on drilling is what is pushing gas prices through the roof. Congress could change all that, yet the liberals refuse. For all those who have the "lalala i can't hear you" attitude, perhaps you should pay a little closer attention to what is actually available here in the US, and the new technology that is being used. Let me see if i understant this ,it's an election year gas prices are up Bush blames liberals tells the electorate it's those damm liberals that are standing between you and the return of the $2.00 gallon,you vote for a good Republican(therby making the head of the Republican party happy BTW Bush is the head of the GOP)With the republicans allowing and profitting from it the oil companys are given even more of a free hand in raping the enviorment Oil companys and their friends(Bush again) are happy...and if the plan works ,if the dream is realised and gas returns to $2.00 a gallon we can all just keep going along befouling the enviorment some more...Yup sounds like a win win situation all around...is that basically the picture

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