weltschmerz
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Post by weltschmerz on Aug 19, 2011 14:42:01 GMT -5
Do you think oil companies are going to sell [U.S. oil] to U.S. consumers for anything less than top (global) price? That was one of my points earlier. They won't. They have a responsibility to their shareholders, and their shareholders will not consent to lower profit margins. Oy, why am I even bothering? It's like talking to a can of soup. Drill for oil on teenagers' foreheads for all I care. It still won't be cheaper.
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Don Perignon
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Post by Don Perignon on Aug 19, 2011 14:43:50 GMT -5
The Bolsheviks nationalized Russia's Baku oilfields in 1917-1918. Mexico nationalized their oilfields in 1938. Iran's oil was nationalized by Mossadegh in 1951 (paving the way for foreign interests to put the Shah back in power). Iraq nationalized theirs in 1961. Venezuela did it in 1976. Every major oil-producing nation relies heavily upon their Oil revenues.
There are few exceptions to the pattern, the era of cheap oil is over. Bachmann's promise to reverse this trend is an empty canard.
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Post by Savoir Faire-Demogague in NJ on Aug 19, 2011 14:46:33 GMT -5
That was one of my points earlier. They won't. They have a responsibility to their shareholders, and their shareholders will not consent to lower profit margins. Oy, why am I even bothering? It's like talking to a can of soup. Drill for oil on teenagers' foreheads for all I care. It still won't be cheaper.
They will sell in the commodities markets and increased supply will reduce the price. Elementary stuff here.
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Post by Savoir Faire-Demogague in NJ on Aug 19, 2011 14:47:38 GMT -5
There are few exceptions to the pattern, the era of cheap oil is over. Bachmann's promise to reverse this trend is an empty canard.
The countries listed are hardly free market economies.
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zipity
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Post by zipity on Aug 19, 2011 14:51:57 GMT -5
So we've established that most of the liberals here believe we should continue to buy oil from foreign nations that are mostly hostile to us, while most of the conservatives here believe we should take advantage of the resources we have in our own sovereign control.
No, we've established that most liberals here understand that there is a global market for oil which will absorb any new oil produced from US oil fields without really denting the world market price per barrel. We have also established that conservatives here believe any babble the spills from the mouth of their least intelligent candidates AND that they support the rights of US oil companies even if those companies have violated contractual obligations to the US government.
IMO, Exxon found the oil with subsidies paid for by the citizens of the US. So as partners we should sell the lease back to them for $5 billion and then raise taxes from the current $10/barrel to $40/barrel. In the global market they will still make huge profits AND employ 100s if not 1000s of workers. One more point, the lease expires in 2 years after which we can renegotiate an extension.
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zipity
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Post by zipity on Aug 19, 2011 14:56:57 GMT -5
They will sell in the commodities markets and increased supply will reduce the price. Elementary stuff here.
Here's some more elementary stuff, we increase drilling OPEC decreases drilling, price stays the same. You think they will sit by while we try to control the global price of oil, think again.
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Post by Savoir Faire-Demogague in NJ on Aug 19, 2011 14:59:36 GMT -5
Here's some more elementary stuff, we increase drilling OPEC decreases drilling, price stays the same. You think they will sit by while we try to control the global price of oil, think again.
I can run circles around you. A few months ago when a few million barrels of oil were released from the SPR the price fell. Our biggest problem is not having a domestic supply of oil, and relying on imports.
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Post by bubblyandblue on Aug 19, 2011 15:11:13 GMT -5
"Oy, why am I even bothering? It's like talking to a can of soup." - Yes indeed - and you have whole segments of our populace that believe the utter trash that spews forth from--------fill in the blanks.
"A few months ago when a few million barrels of oil were released from the SPR the price fell." well duh...it short circiuted the existing contracts on an immediate time frame - not giving the market a response/correction time. It was also government intervention. I am sure you can run circles around anybody - you can run circles around me if you want but, keep the hand flailing to a minimum and when I ask you to take a time out - please respect that - I don't want you to fall and go boom boom.
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zipity
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Post by zipity on Aug 19, 2011 15:34:18 GMT -5
I can run circles around you. A few months ago when a few million barrels of oil were released from the SPR the price fell. Our biggest problem is not having a domestic supply of oil, and relying on imports.
Keep running, a one time release isn't the same as developing multiple new fields.
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EVT1
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Post by EVT1 on Aug 19, 2011 17:07:54 GMT -5
SF thinks the price of oil is based on supply and demand? Since when? Supply is manipulated- regardless if anyone thinks oil is coming back down to a reasonable price I have a bridge to sell you.
Still, we should eliminate the speculators- only allowing people who can actually take delivery of oil in the market- and even then I see plenty of oil sitting in storage to keep the price high. Getting off of oil is a much better plan.
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weltschmerz
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Post by weltschmerz on Aug 19, 2011 17:38:21 GMT -5
The problem is this: While increased oil and gas drilling in the United States may create good-paying jobs, reduce reliance on foreign oil and lower the trade deficit, it will have hardly any impact on gas and oil prices.
That's because the amount of extra oil that could be produced from more drilling in this country is tiny compared to what the world consumes.
Plus, any extra oil the country did produce would likely be quickly offset by a cut in OPEC production.
-CNN Money
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EVT1
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Post by EVT1 on Aug 19, 2011 18:14:50 GMT -5
Even OPEC stated a while back that there was no shortage of supply and that the price was artificially high. Wonder why that is?
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weltschmerz
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Post by weltschmerz on Aug 19, 2011 18:27:03 GMT -5
'Wonder why that is? " --------------------- It's a mystery, wrapped in a riddle, and shrouded in an enigma.
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Don Perignon
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Post by Don Perignon on Aug 19, 2011 20:36:59 GMT -5
A "socialist" thing to do would be to have the US Government hire contractor Oil companies to develop and operate some new wells, whose output would go exclusively to schools and public non-profit organizations like hospitals and municipal buildings... at reduced prices ( thanks to a "no profit" motive) that are relevant to production costs rather than the global commodities market prices. If we can reduce the price of heating oil for public schools (which presents a major expense in the budgets of many schools) , the cost of Public Education decreases and local tax rates can be lowered in kind.
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oftenwrong
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Post by oftenwrong on Aug 21, 2011 7:12:14 GMT -5
This thread cracks me up.... Excuse the off-topic enquiry but does anyone know why the CUTTING EDGE board is no longer viewable? Thanks, and apologies
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handyman2
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Post by handyman2 on Aug 21, 2011 8:57:31 GMT -5
$2.00 a gallon for gas? Nice thought but as usual for people we vote in or hire to run government show no concept of costs involved in doing things. I do a lot of contract work for not only state but federal departments as well. The one conclusion I have developed over the years is that they do not thing in logical or common sense levels. They just cannot grasp the cost of doing things versus the task required to get a job done. Just the cost of producing the product and getting it to the consumer will cost close to $2.00 a gallon in todays world.
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ugonow
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Post by ugonow on Aug 21, 2011 9:36:02 GMT -5
Contrary to all the rhetoric, it is not the greenies getting refineries closed.It is oil companies themselves.They have slowly decreased their capicity for years now in fear of the overcapicty problems and price drops they saw in the past. And I am by far an expert on the subject, but it seems unreal to me that we could drill enough fast enough to make much of a dent in the global market.
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oftenwrong
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Post by oftenwrong on Aug 21, 2011 11:26:39 GMT -5
Commentary in British newspapers about Ms. Bachmann suggests that hitherto her only "campaigns" have all been to do with religious principles.
Are American electors likely to notice that Economics is probably a better thing to have majored in? Just at the moment?
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mmhmm
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Post by mmhmm on Aug 21, 2011 11:43:12 GMT -5
This thread cracks me up.... Excuse the off-topic enquiry but does anyone know why the CUTTING EDGE board is no longer viewable? Thanks, and apologies According to the message I get when I try to access that board, oftenwrong, the administrator of the board has removed it from ProBoards. Why that decision was made I have no clue.
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Tennesseer
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Post by Tennesseer on Aug 21, 2011 11:53:38 GMT -5
This thread cracks me up.... Excuse the off-topic enquiry but does anyone know why the CUTTING EDGE board is no longer viewable? Thanks, and apologies Oftenwrong-you might want to join the Pro board Support board. You can ask your question there and they may be able to answer your question.
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oftenwrong
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Post by oftenwrong on Aug 21, 2011 13:23:13 GMT -5
Excuse the off-topic enquiry but does anyone know why the CUTTING EDGE board is no longer viewable? Thanks, and apologies According to the message I get when I try to access that board, oftenwrong, the administrator of the board has removed it from ProBoards. Why that decision was made I have no clue. Thanks to everyone who has responded. It's a total mystery why a viable Board should simply disappear, and it's easy to suspect some kind of skulduggery. The Administrator of Cutting Edge was evidently as surprised as anyone else. Kinda worrying. Which thread is next for the chop?
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henryclay
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Post by henryclay on Aug 21, 2011 17:02:03 GMT -5
Wih all the pulsimonies about Bachmann, maybe she is thinking like a Democrat. Maybe she is tlking about gasoline costingf moire than it does now in real dollars, but with all the Democrat style cuts, it will be less than currently projected. With that analogy it's easy to think gasoline can be brought under $2.00 a gallon in inflated dollars. How about 1940 prices. After the REAL crash we may well see these prices again.
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Don Perignon
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Post by Don Perignon on Aug 21, 2011 22:33:42 GMT -5
By the sign posted above, the "full-service" gas station operator was getting about 20% of the final cost... and there was share going to a "R.R."...? Would that be a cut for the "Rail Road"? Is that a picture of a gas station in Texas?
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djAdvocate
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Post by djAdvocate on Aug 21, 2011 23:11:48 GMT -5
that guy is keystoning his fuel cost? what a bastard!
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