'All we have to do is start drilling in earnest again and the price of oil will
fall as the futures market will see down the road the increase in supply. Oil
prices will come down.' - Lone Star Cougar | 8:00 a.m. What is
'drilling in earnest?' Does that mean 'drill on American soil?' Did
alaska stop being a state when Sarah Palin didn't run for president, more? *'Alaska Oil Spill: Trans-Alaska Pipeline Shuts Down 800 Mile Area In
North Slope' - Huffington Post - 05/26/10 'Up to several thousand
barrels of crude oil from the trans-Alaska pipeline spilled Tuesday into a
massive tank and overflowed into a containment area, shutting down the 800-mile
line until the hazard is removed.' America DOES drill on local soil.
And Obama didn't drive up gas prices. Or are you forgetting the $400
check Bush cut you with tax money when gas prices went up with him?
Obama caused oil prices? That is so absurd it is hillarious! What has he done to
raise gas prices? Invade a country? Bush did that, twice! When my mom was a child, gas was 0.75 cents/gallon.
I cannot believe how blind people are about politics, the oils prices are
manipulated by the producers, merchant and politicians, NO MATTER IF THEY ARE
REPS OR DEMS!. like it or notDrilling won't solve anythingDo you know how much these companies have made in the last 10
year...billions!!!I think that when we stop using so much gas and
buying the V8 cars prices will change...no demand...no high prices!
Drilling won't solve anything.American refineries are already
operating well below capacity. There is plenty of oil readily available, but
supplies are being manipulated by petroleum cartels in order to keep prices
@Liberal Ted: You really need to research how oil is traded on the commodities
market, and that drilling here would not lower the price much, as oil is a
global commodity traded on the global market. To sit there and blame Obama is
just plain funny. Our administration has zero to do with the price of oil -
which, by the way, was trading below $100 as of yesterday. Google a few
pictures of who looked stressed over oil dropping $10 in the last couple of
days, and you'll see it's the traders and big oil companies. If you can name me
one solid piece of factual data, aside from your belief that we should be
drilling more here in the US, as to how Obama or his administration has directly
caused this current hike in gasoline prices, I'll be amazed! What you got?
Although our refineries in general aren't geared to refine the kind of oil we
pump here, producing oil that other countries can use eases the demand for the
kind of oil we CAN refine.I have never understood how reducing the
amount of money an oil company makes on its oil production, by
reducing/eliminating its tax credit, translates into lower prices at the gas
pump. If they are truly using the money they "get" from the tax
credit for oil exploration and alternative energy technology research, reducing
the tax credit will have a combination of two effects:First, the
amount they spend on exploration and research will drop, which means they will
be putting less money back into local economies where the research and
exploration is happening. Not a good outcome.Second, they will
likely pass at least some of the cost of losing the tax credits on to consumers
of oil products, which will translate into higher prices at the pumps and in all
oil derived goods - motor oil, plastics, etc. Also not good.So, no
matter what the oil companies do if the tax credit is cut/dropped, it will cost
all of us.
Thomas Jefferson was correct when he stated:"Commerce with all
nations, alliance with none". (1799)"Essential principles
of our government to be peace, commerce, and honest friendship with all nations,
entangling alliances with none..." (1801)Oh what a web we
Drill again! And to avoid the risks of deep-water drilling, which was pretty
convenient for the anti-drilling sentiments after the BP disaster in the gulf,
drill on LAND! We have the reserves in the Dakota's and Alaska. Too simple, I
know. When gas hit $4 a gallon under Bush if we had sarted drilling on the land
at that point, and started building a few new refineries, we'd have solved the
problem by now.But we're OK because Congress is there to solve the
High gas prices are a threat to our national security. The more people spend on
necessities the less they have to spend on other goods and services... and
consumer demand is still the #1 driving force behind our economy. We can't hope
to recover with $5/gal average knocking on the door, and it's high time somebody
took emergency action to do something about it.Subsidies aren't the
problem, speculators are. If speculation was eliminated prices would be cut in
half. We need to put the brakes on people getting rich by taking money right out
of our pockets.
"I will destroy the coal industry." "under MY plan energy prices
would necessarily skyrocket!" This sounds like somebody who wants to see
us suffer and fail. Our dear government makes more profit off the selling of
gasoline than the oil companies. Now thats rich!
Well said Lone Star! Best comment I have read about this subject, ever!
Living in oil country and working with people that work in commodities, this
article was one of the best I have ever seen and I believe it "hits the
nail on the head". Oil prices are controlled by the futures
market. The futures market looks ahead to see what is coming in the future for
that commodity. Also, there is an emotional part to the futures market so if
the landscape for oil supply looks bearish, the prices will go up and
speculators will pile on to ejoy the ride up on the futures market.All we have to do is start drilling in earnest again and the price of oil will
fall as the futures market will see down the road the increase in supply. Oil
prices will come down.Oppositely, taking revenue away from the oil
companies will only make oil companies raise the prices to cover the deficit.Also, the oil companies only make a profit of 2 cents per gallon while
the government taxes the same oil between 30 cents to 60 cents per gallon.Which one is being abusive? Oil companies or the government?
"Democrats are targeting subsidies for oil companies, while Republicans are
pushing for more drilling."Which of these efforts is more
likely to decrease gas prices. The argeument was made several years ago that new
drilling wouldn't produce more oil for 7-8 years. It would be nice if we could
look forward to that increased oil coming online soon. We can't easing drilling
permits was quashed. Yet the sooner we start, the sooner we will have more oil.
Barack has a solution. Don't drill anymore and tax you more per mile that you
drive!YES WE CAN! This is change we need and change we can believe
in.Michelle for the second time in her life, is actually proud to
call the United States home. Of course she doesn't care since she has a private
jet to take her shopping and a convoy of SUV'S. But, for us peasants it's just
something we need to get use to.When Bush was president we didn't
look at gas prices this high.This is good old fashion socialism at
work. Give everything to the government, and they'll make all of your problems
disappear. Not that we have a choice to give, we're forced to give to the
government or run the risk of being thrown in jail.We need to drill
here. It's a good idea to get green renewable energies going. But, for the short
term drill baby drill. Use that revenue to pay for green research and production
and renewable energy. Of course that is too hard for the smartest president in
the history of the US.
It's Obama's personal vendetta to force people in to electric cars so he has by
omission to enforce fair trade laws to allow oil companies to set whatever price
of gas they want, that profiteering and fraud is okay. That's why when ever
Obama is confronted by the high cost of gas his only response is you drive the
wrong vehicle.Supply and demand has not been responsible for gas
prices, its' been profit greed and Obama. Even if we protest prices of gas the
oil companies have Obama's blessing to raise the price to cover any loss from
civil unrest.Corporate responsibility doesn't exist and how else
will BP and others recover their billion dollar losses in cleanups if they don't
gouge us at the pumps to pay for it our of their(our) pockets? Basically, any
environmental damage or problems, we still pay the oil companies in recoverable
Obama is talking like the US government is handing the oil company billions of
dollars a year in cash but that is a lie. These subsidies are tax credits to
encourage exploration and finding oil and has nothing to do with pump prices.
Cities and states give billions of dollars tax credit subsidies all the time to
lure and entice business/companies to open a store in their area.Oil
production in the United States is sold to foreign companies only. Congress
passed a law telling oil companies they can sell and trade our oil in the form
of hedge funding which means sell it to foreign companies before it is pumped
out of the ground. How much oil the United States produces has nothing to do
with pump prices. The oil industry has its speculators and buyers in
foreign country's from our oil producers, then our refineries and processors can
only buy oil from foreign interest. Hence, higher foreign dependence on oil lies
that is rightfully the property of the American citizens.The real
lie is the producer+markup, foreign speculator+markup, and refinery+markup are
all an underground network of the same company.
Is this good old fashion capitalism? the law of supply and demand at work?
Social Darwinism?The oil companies better get in check or they might
see the people clamor to nationalize the oil industry. So generally I have
faith that this won't happen or be needed so I hope some positive corporate
responsibility by Exxon etc. and those oil speculators starts to happen...
If the President was interesting in helping us he would lift the ban he imposed
on drilling in the Gulf of Mexico, he would open ANWAR, and he would open
drilling off the California coast. Instead he decides that we're not paying
enough and now wants to study the fesiblity of basing the federal gasoline tax
on how many miles we drive. I doubt that Obama wants to help us.
From Deseret News archives, Published: Wednesday, July 23, 2008 12:11 a.m.
MDTAre Utahns being overcharged for gasoline? Comparing a list of what
customers pay at the pump for gasoline only (minus the taxes) might make you
think so.Utah has the third-highest average regular gasoline price in the
nation at $3.79 per gallon not counting taxes.to Hutterite, Carl
and toosmartforyou...I hope one day we can have politicians that will work FOR
THE PEOPLE and not for the big companies, how do you do blame Obama for
something that have been an issue for years...way back than 2009!!!Don't
be blind guys! this "oil" issue is about money, do you really think
that all those politicians that one way or another get money from the oil
industry will do something agaisnt them...show me have work to reduce or
"regulate" oil prices....NOBODY.Who regulate the oil
price...nobody, so stop blaming and do something...speak...THE PEOPLE...deserves
Since president obama took office gas prices have risen..... So are we going to
let that one sit there? Explain to us, O hideously unbiased heritage foundation,
how you came to couch your statement in those terms? Is president obama directly
responsible for the price increase, or did you just throw that out there to set
the time frame? And oil companies are making large profits? How unamerican can
you get? Surely reagan would have nationalised the industry by now rather than
see it profit off citizens. Obama could use some lessons from gipper. And surely
it is environmentalists only that prevent us from making our 2% of the worlds'
proven reserves meet the demand of 25% of its' consumption. Problems at the
pump? Yeah, the solutions are hard to find when you are only willing to accept
the solution you want.
What is next will be Federal Regulatory guidelines with the blessing of Obama
administration in required all pumps to register liters replacing gallons. This
will read $1.10 per liter. (a gallon is about 3.86 liters)
We've had this problem for several years. One reason we still have it is
because we depend upon the US Congress to solve it. I suppose we want them to
solve our challenges with education, immigration, health insurance, etc too. I
expect similar results that they have produced in solving our energy problems.