Simple question.
Gas is already topping $3 a gallon and summer hasn't fully hit yet. We don't have enough refineries to produce enough gas so we have to import it, which drives up costs.
So it begs the question above? Why don't we just build more refineries?What keeps oil companies from simply building more refineries to meet rising American demands?
It's political because refineries pollute the environment and nobody wants them in their backyard. Also, why would oil companies want to shell out millions to lower the price of their product? They want to keep the price high so their execs can keep eating their caviar and fly their gold-plated jets.What keeps oil companies from simply building more refineries to meet rising American demands?
democrats, greenpeace, and a bunch of communists groups that want to ruin the American economy.
So get ready for your mud hut Al Gore wants you to live in. you'll even get a out house, and dirt floors. Think of it as camping.
$$$. Why would they want to spend money to build more refineries, which in turn would lower gas prices? That would be a double blow to their bottom line.
They don't want to build more refineries so they can charge more for gas. It's an excellent example of the theory of supply and demand.
we don't have a surplus of oil in the states for starters. we can't build more refineries anyway because of environmental policy. having the major oil surplus overseas gives the middle east the upperhand in importing. the oil company's aren't complaining though because its more money in their pockets.
Cause they are all greedy yuppies. Plus the US wants to conserve the oil we have. I read a while back that we have enough gasoline stored to run the entire US for 1 year
Refineries are dirty and nobody wants them in their town.
Wednesday, December 9, 2009
How can oil companies prepare for the future?
What if we start using electricity, solar energy, and wind energy power in the furture?
Can we stop global warming?
(I really want Al gore to answer this because Al gore made the movie An Inconvenient Truth.)How can oil companies prepare for the future?
I really don't think we can stop what is inevitable, what we have done has been done. But I think that Oil companies should prepare by investing into other forms of power. There is only so much oil on this planet, it will dry up eventually and from there oil companies cannot make money, even if this global warming doesn't happen just as Al Gore planned.
I really do think its funny that the human race hasn't gotten past the internal combustion engine, which to me is really outdated any way you look at it. Aside from the Wenkel engine we haven't changed the engine, we just added injectors.How can oil companies prepare for the future?
if we used those our world would be much better plus those are all around and they dont cost a dime.we may be able to stop global warming if everyone joins in on it
Figure out how to get and refine oil from our own country
all the oil companies care about is short term greed.
don know
u have to understand the economics of alternative energy. this is exactly what the name implies. whatever is cheapest is being used n that's coal.
btw world's secret society has already started by buying txu engery in texas.
you really think he's worried...
we can clean up our environment we can lower our emissions
but we are a society dependant on oil, we are a long way from converting to another source of energy and to conver means changing our whole infrastructure
and the technology is not here yet
side note: Al Gore does not do the walk he talks
He lives in a 22 room mansion which cost 33,000.00 in electrical
use, HE BOUGHT emission credits to excuse his c02 emissions
President Bush has a 4000 sq. ft house that uses a water based heat exchanger to heat or cool his house
guess who is more environmentally conscious
can we stop global warming if it is happening as is forcast ,no
BUT WE have not included mother nature in all this who might just suprise us
Can we stop global warming?
(I really want Al gore to answer this because Al gore made the movie An Inconvenient Truth.)How can oil companies prepare for the future?
I really don't think we can stop what is inevitable, what we have done has been done. But I think that Oil companies should prepare by investing into other forms of power. There is only so much oil on this planet, it will dry up eventually and from there oil companies cannot make money, even if this global warming doesn't happen just as Al Gore planned.
I really do think its funny that the human race hasn't gotten past the internal combustion engine, which to me is really outdated any way you look at it. Aside from the Wenkel engine we haven't changed the engine, we just added injectors.How can oil companies prepare for the future?
if we used those our world would be much better plus those are all around and they dont cost a dime.we may be able to stop global warming if everyone joins in on it
Figure out how to get and refine oil from our own country
all the oil companies care about is short term greed.
don know
u have to understand the economics of alternative energy. this is exactly what the name implies. whatever is cheapest is being used n that's coal.
btw world's secret society has already started by buying txu engery in texas.
you really think he's worried...
we can clean up our environment we can lower our emissions
but we are a society dependant on oil, we are a long way from converting to another source of energy and to conver means changing our whole infrastructure
and the technology is not here yet
side note: Al Gore does not do the walk he talks
He lives in a 22 room mansion which cost 33,000.00 in electrical
use, HE BOUGHT emission credits to excuse his c02 emissions
President Bush has a 4000 sq. ft house that uses a water based heat exchanger to heat or cool his house
guess who is more environmentally conscious
can we stop global warming if it is happening as is forcast ,no
BUT WE have not included mother nature in all this who might just suprise us
Who make and sells the oil barels for the big crude oil companies?
We would like to know who makes the oil barrels for the companies and can one buy and sell them to the big oil companies- how can one invest in this direction- Not oil but the barrels to sell to the companies?Who make and sells the oil barels for the big crude oil companies?
The term ';barrels'; of oil is just a unit of measure. Just like gallons of gas we don't buy them individually. Nice try.Who make and sells the oil barels for the big crude oil companies?
Your efforts would be best directed toward a plan to get the world off the rampant and deadly usage of fossil fuels and all the destructive attributes attached to that industry.
it's just a unit of measure
your question is like asking who makes the gallons for the dairy farmers. except in this analogy, milk is actually EVENTUALLY sold in one-gallon containers.
The term ';barrels'; of oil is just a unit of measure. Just like gallons of gas we don't buy them individually. Nice try.Who make and sells the oil barels for the big crude oil companies?
Your efforts would be best directed toward a plan to get the world off the rampant and deadly usage of fossil fuels and all the destructive attributes attached to that industry.
it's just a unit of measure
your question is like asking who makes the gallons for the dairy farmers. except in this analogy, milk is actually EVENTUALLY sold in one-gallon containers.
When the price crude oil is at a record high, how are oil companies earning record profits?
I am talking about companies that buy and refine the oil not the companies that actually sell the crude. When the price of wheat goes up, you don鈥檛 see bakers making record profits so how do oil companies pull this off?When the price crude oil is at a record high, how are oil companies earning record profits?
Because people aren't cutting back on buying it. Lok at SUV sales. Have they dropped? No. While driving do you see people driving more slowly to conserve? No. Until people slow their buying Oil companies will continue to make gret profits. Not sure I want the government controlling businesses though. It has to be done by supply and demand. Somebody needs to develop better alternatives and then we as consumers need to buy those alternatives.
jWhen the price crude oil is at a record high, how are oil companies earning record profits?
Hopefully some true republicans can shed light on this while the rest of us pay out the @SS for gas.
Well, to add to your question but not really answer it because I am not in the oil business. I don't think anyone in the oil business will answer your question. Who governs the oil co. ability to change prices. Is it done ';at will'; without regard for consumers? I've just recently heard about the new change (law?)government intervening when co. are thought to have ';gouged'; the consumer...THEN the gov. can step in....NOW WOULD BE A GOOD TIME, DON'T YOU THINK? And please, can someone explain to me why is it that diesel costs so much more that gas? When has that ever happened before? Diesel is LESS refined than gasoline! Let me put it another way: gas takes MORE refining than diesel! Same result! Are the oil co. afraid that people will convert to diesel vehicles %26amp; then convert the engine to run on peanut, potato or some other used oil that resturants dispose of, cutting oil co. profits? Picture the big oil co. meeting on Mon morn....Mr. #2 oil exec says: ';Give me the report from last month....Hmmmmm, I see. Wasn't our goal this month to make record profits';? What can we do? Mr. #3 oil exec says: ';I've heard people are thinking of going to diesel vehicles-better mileage %26amp; cheaper!'; Mr. #1 oil exec says: ';Well...we'll take care of that. ';All in favor of raising diesel prices by 30-35%?--Yeaaaaa / all opposed?...(silence). Think about this, I am not by any means an accounting guru, but didn't I learn somewhere along the line, that when supplies are low, the price increases %26amp; the opposite is true, when the supplies are in abundence, the price drops? Conserving %26amp; reducing oil consumption is paramount, then 2nd let's think of the cost of shipping the oil. The closer the product is from pumping, refining %26amp; getting to our vehicles, this should reduce the cost...right? Well then....WHAT ARE WE WAITING FOR????? I myself do drive 55-60mph (in the outside lane. this reduces all the idiots from passing on the right %26amp; saves me gas) I have heard that for every 5 mph over 60, you can add .40 cents to each gal of gas used. We can never ( in my opinion) get completely off oil, but we need to find a ';middle ground.'; Are you with me? Then let's gooooooooooooooooooo.............!!!!!!!
profits are limited by cash flow time lags, and they aren't released every day with commodity price changes - just every quarter. remember - costs remain the same for the oil companies, they simply earn more revenue because the price goes up - you're probably thinking about refineries?
Because people aren't cutting back on buying it. Lok at SUV sales. Have they dropped? No. While driving do you see people driving more slowly to conserve? No. Until people slow their buying Oil companies will continue to make gret profits. Not sure I want the government controlling businesses though. It has to be done by supply and demand. Somebody needs to develop better alternatives and then we as consumers need to buy those alternatives.
jWhen the price crude oil is at a record high, how are oil companies earning record profits?
Hopefully some true republicans can shed light on this while the rest of us pay out the @SS for gas.
Well, to add to your question but not really answer it because I am not in the oil business. I don't think anyone in the oil business will answer your question. Who governs the oil co. ability to change prices. Is it done ';at will'; without regard for consumers? I've just recently heard about the new change (law?)government intervening when co. are thought to have ';gouged'; the consumer...THEN the gov. can step in....NOW WOULD BE A GOOD TIME, DON'T YOU THINK? And please, can someone explain to me why is it that diesel costs so much more that gas? When has that ever happened before? Diesel is LESS refined than gasoline! Let me put it another way: gas takes MORE refining than diesel! Same result! Are the oil co. afraid that people will convert to diesel vehicles %26amp; then convert the engine to run on peanut, potato or some other used oil that resturants dispose of, cutting oil co. profits? Picture the big oil co. meeting on Mon morn....Mr. #2 oil exec says: ';Give me the report from last month....Hmmmmm, I see. Wasn't our goal this month to make record profits';? What can we do? Mr. #3 oil exec says: ';I've heard people are thinking of going to diesel vehicles-better mileage %26amp; cheaper!'; Mr. #1 oil exec says: ';Well...we'll take care of that. ';All in favor of raising diesel prices by 30-35%?--Yeaaaaa / all opposed?...(silence). Think about this, I am not by any means an accounting guru, but didn't I learn somewhere along the line, that when supplies are low, the price increases %26amp; the opposite is true, when the supplies are in abundence, the price drops? Conserving %26amp; reducing oil consumption is paramount, then 2nd let's think of the cost of shipping the oil. The closer the product is from pumping, refining %26amp; getting to our vehicles, this should reduce the cost...right? Well then....WHAT ARE WE WAITING FOR????? I myself do drive 55-60mph (in the outside lane. this reduces all the idiots from passing on the right %26amp; saves me gas) I have heard that for every 5 mph over 60, you can add .40 cents to each gal of gas used. We can never ( in my opinion) get completely off oil, but we need to find a ';middle ground.'; Are you with me? Then let's gooooooooooooooooooo.............!!!!!!!
profits are limited by cash flow time lags, and they aren't released every day with commodity price changes - just every quarter. remember - costs remain the same for the oil companies, they simply earn more revenue because the price goes up - you're probably thinking about refineries?
Why are oil companies charging $3 a gallon for gas again, when the economy needs to recover?
Smart move guys.
This sure will help the economy. I was planning on making a few trips, but the f-ing gas prices made me so disgusted, I'm staying home. This is just extortion, and plain dumb.Why are oil companies charging $3 a gallon for gas again, when the economy needs to recover?
schools out and it's SUMMERTIME!!!
the greedy bastrads want to rape us again...Why are oil companies charging $3 a gallon for gas again, when the economy needs to recover?
Because they are running a business, not a charity.
We should do away with both gas subsidies and gas company preferences and let the free market truly prevail. Had the subsidies not been in place we'd be on hemp ethanol by now. (Did you know Henry Ford designed the model T to run on hemp ethanol but oil subsidies were introduced and killed the nascent hemp ethanol industry?)
But the dollar IS dropping due to too much spending, and inflation is going to get worse. Particularly food inflation since it isn't counted in government counted inflation for reporting purposes, and transportation costs (oil) are a huge part of food prices.
Welcome to the Obama presidency -- not that Bush's was much better in this regard, Obama is just doing it faster.
Because speculators are expecting the world economy to get better. They are also predicting an economic boon at the end of the year, and feel they would be best to hold on to their surplus of oil until the economy recovers.
The oil companies currently have a greater supply than the demand, but they are betting on a huge economic turn around. I don't think they have fully considered the consequences if this blows up in their faces.
Sir, that's a very good question, and the answer is very simple, but I'm afraid that many out there are not willing to face the fact that they have their politicians to thank for the price of gasoline! With all of the oil currently on the charts of the America Oil Companies we should not have to be dealing with high prices at the pumps but that's where your politicians, yes your green liberal politicians come into the picture. Before I go on lets talk about the huge oil reservoir under the Bakken Shale formation in North Dakota and Montana areas, 4.3 billion barrels of oil. And let's not forget the oil find in the Gulf of Mexcico, the largest American Oil find in a generation, 15 billion barrels. Now who can answer the simplest of questions, why won't the 'liberal, yes the liberal members of the house and senate allow our oil companies to drill? Its a simple enough question, why won't our liberal politicians allow our oil companies to drill our own oil? That's the question that will answer why our oil companies are charging $3.00 a barrel. And anyone that metions pollution is simply put either uninformed or plainly put has a liberal agenda; now what is that agenda, I won't pretend to know. May be one of you can tell all of us why the liberals want the price of oil to remain high?
Just a wild guess here ... because the global elite are again manipulating the price of oil as they did last year.
The problem (speculation driving up the price) was discussed in Congress during a weekend session, it was covered on C-SPAN, but the mainstream media chose to keep the people in the dark and blame the gas prices on something else.
Gas prices are going to get a lot higher. Think they were high under Bush, you ain't seen nothing yet. As soon as we get cape and trade, more green regulation and Obama taxing coal into oblivion, hang on to your wallet because inflation is just around the corner. The only thing holding down gas prices from what they were a year ago is the depressed global economy that is holding down demand. Just remember we warned you this was going to happen.
It is rather comical, because the oil companies have a greater supply than the demand for oil at the moment.
They are speculating that the economy will miraculously turn around at the end of the year.
When this supposed economic recovery occurs expect the gas prices to rise dramatically.
Here is a thought: companies are not out to get you.
Gas is up because of a few reasons
1. Our dollar's value has plummeted. We have to import oil because we refuse to drill for it here.
2. Gas always goes up during the summer. There is more demand and there are more mandated requirements.
3. The price of a barrel of crude has gone up.
Gas and oil are commodities, and are based on the value of the dollar.
If you want the price of oil and gas to go down, tell the idiot in the White House to tell the US Mint to stop printing money like it's going out of style, since THAT's what is driving the price up.
Oil companies do not just randomly decide what the price of gasoline will be today.
You are going to have to get over your feeling of entitlement to gasoline. It's going to get much more expensive in your lifetime.
It is not supply and demand since we have plenty of oil. The demand for gas is also down. I have read in several papers and also on yahoo news it is the speculators on wall street who are driving up the cost of oil.*
Because Obama raised the gasoline tax rate by another 12 cents a gallon. Remember when he said that he wasn't going to raise our taxes ';one dime';?
Democrats in illinois have imposed a 50 cent tax per gallon on gas, because they want us to buy green cars.
Guess who owns the green cars?
How many oil companies are even domestic? One???
Which one just moved to Dubai???
Why do dogs lick their testicles? Because they can.
no doubt it's bush and cheney's fault..oh wait a minute, they are not in control anymore. I guess it never was their fault to begin with since they are not in charge anymore. lol
Obama and his big oil cronies pushing up the price,,,,,not really but I have been dumbed down by the dems.
The Saudi's had to pay for that bling they gave Obama.
It's dumb. The could allow it to stay low a while longer.
Greed
It isn't actually the oil companies, it is Traitor Obama BBB (Butt Boy Barry), and the liberals in congress and the senate are responsible. they all hate america and will do anything they can to destroy us.
It's $3.00 a gallon because that is what people will pay. If no one bought gasoline the price would go down to deplete the supply. As soon as the supplies go down and the market stabilizes the price goes back up. It's cyclical.
Because the election is over and the economy is showing good signs.
What do you expect? They are Capitalists, Capitalism is all about the profit.
It's called Capitalism. see how well it works.coolest myspace
This sure will help the economy. I was planning on making a few trips, but the f-ing gas prices made me so disgusted, I'm staying home. This is just extortion, and plain dumb.Why are oil companies charging $3 a gallon for gas again, when the economy needs to recover?
schools out and it's SUMMERTIME!!!
the greedy bastrads want to rape us again...Why are oil companies charging $3 a gallon for gas again, when the economy needs to recover?
Because they are running a business, not a charity.
We should do away with both gas subsidies and gas company preferences and let the free market truly prevail. Had the subsidies not been in place we'd be on hemp ethanol by now. (Did you know Henry Ford designed the model T to run on hemp ethanol but oil subsidies were introduced and killed the nascent hemp ethanol industry?)
But the dollar IS dropping due to too much spending, and inflation is going to get worse. Particularly food inflation since it isn't counted in government counted inflation for reporting purposes, and transportation costs (oil) are a huge part of food prices.
Welcome to the Obama presidency -- not that Bush's was much better in this regard, Obama is just doing it faster.
Because speculators are expecting the world economy to get better. They are also predicting an economic boon at the end of the year, and feel they would be best to hold on to their surplus of oil until the economy recovers.
The oil companies currently have a greater supply than the demand, but they are betting on a huge economic turn around. I don't think they have fully considered the consequences if this blows up in their faces.
Sir, that's a very good question, and the answer is very simple, but I'm afraid that many out there are not willing to face the fact that they have their politicians to thank for the price of gasoline! With all of the oil currently on the charts of the America Oil Companies we should not have to be dealing with high prices at the pumps but that's where your politicians, yes your green liberal politicians come into the picture. Before I go on lets talk about the huge oil reservoir under the Bakken Shale formation in North Dakota and Montana areas, 4.3 billion barrels of oil. And let's not forget the oil find in the Gulf of Mexcico, the largest American Oil find in a generation, 15 billion barrels. Now who can answer the simplest of questions, why won't the 'liberal, yes the liberal members of the house and senate allow our oil companies to drill? Its a simple enough question, why won't our liberal politicians allow our oil companies to drill our own oil? That's the question that will answer why our oil companies are charging $3.00 a barrel. And anyone that metions pollution is simply put either uninformed or plainly put has a liberal agenda; now what is that agenda, I won't pretend to know. May be one of you can tell all of us why the liberals want the price of oil to remain high?
Just a wild guess here ... because the global elite are again manipulating the price of oil as they did last year.
The problem (speculation driving up the price) was discussed in Congress during a weekend session, it was covered on C-SPAN, but the mainstream media chose to keep the people in the dark and blame the gas prices on something else.
Gas prices are going to get a lot higher. Think they were high under Bush, you ain't seen nothing yet. As soon as we get cape and trade, more green regulation and Obama taxing coal into oblivion, hang on to your wallet because inflation is just around the corner. The only thing holding down gas prices from what they were a year ago is the depressed global economy that is holding down demand. Just remember we warned you this was going to happen.
It is rather comical, because the oil companies have a greater supply than the demand for oil at the moment.
They are speculating that the economy will miraculously turn around at the end of the year.
When this supposed economic recovery occurs expect the gas prices to rise dramatically.
Here is a thought: companies are not out to get you.
Gas is up because of a few reasons
1. Our dollar's value has plummeted. We have to import oil because we refuse to drill for it here.
2. Gas always goes up during the summer. There is more demand and there are more mandated requirements.
3. The price of a barrel of crude has gone up.
Gas and oil are commodities, and are based on the value of the dollar.
If you want the price of oil and gas to go down, tell the idiot in the White House to tell the US Mint to stop printing money like it's going out of style, since THAT's what is driving the price up.
Oil companies do not just randomly decide what the price of gasoline will be today.
You are going to have to get over your feeling of entitlement to gasoline. It's going to get much more expensive in your lifetime.
It is not supply and demand since we have plenty of oil. The demand for gas is also down. I have read in several papers and also on yahoo news it is the speculators on wall street who are driving up the cost of oil.*
Because Obama raised the gasoline tax rate by another 12 cents a gallon. Remember when he said that he wasn't going to raise our taxes ';one dime';?
Democrats in illinois have imposed a 50 cent tax per gallon on gas, because they want us to buy green cars.
Guess who owns the green cars?
How many oil companies are even domestic? One???
Which one just moved to Dubai???
Why do dogs lick their testicles? Because they can.
no doubt it's bush and cheney's fault..oh wait a minute, they are not in control anymore. I guess it never was their fault to begin with since they are not in charge anymore. lol
Obama and his big oil cronies pushing up the price,,,,,not really but I have been dumbed down by the dems.
The Saudi's had to pay for that bling they gave Obama.
It's dumb. The could allow it to stay low a while longer.
Greed
It isn't actually the oil companies, it is Traitor Obama BBB (Butt Boy Barry), and the liberals in congress and the senate are responsible. they all hate america and will do anything they can to destroy us.
It's $3.00 a gallon because that is what people will pay. If no one bought gasoline the price would go down to deplete the supply. As soon as the supplies go down and the market stabilizes the price goes back up. It's cyclical.
Because the election is over and the economy is showing good signs.
What do you expect? They are Capitalists, Capitalism is all about the profit.
It's called Capitalism. see how well it works.
Do the oil companies really have 68million acres in the gulf they can drill in gulf without restrictions?
The democrates claim the oil companies have all this acreage leased and don't need to open any other areas up. Is this a true statement?Do the oil companies really have 68million acres in the gulf they can drill in gulf without restrictions?
No, they don't...and your first clue should been ';The democrates (sic) claim...';
Also, your question is in the wrong category...it doesn't have to do with the military.Do the oil companies really have 68million acres in the gulf they can drill in gulf without restrictions?
I forget the actual number but there is a large amount of area leased for drilling. What is not being said by the main media is that it is unknown for the most part if that land has oil. It will cost oil company millions upon millions of dollars to go thur the hit and miss drilling needed to find some oil. We do know there is oil in ANWAR in Alaska so we should get the drilling and production going there ASAP and stop fooling around and wasting time.
Also, the people who are making a big deal about big oil profits are not understanding something very basic. Most oil companies like Exon are only making about a 9% profit. The big amount of profits is because more people around the world are using more oil then ever especially in expanding markets like China and the Middle East. You will notice that the main media will not tell you how much percentage of profit the oil companies are making. The people who blame the oil companies will not say either since most don't know. Most businesses need to make at least over a10% profit to be able to keep going.
Congress had an investigation with some of the oil companies last year and warned them of not price gouging but that was all they could do because there was no evidence that it was happening. Now some critics are saying we should not drill because it will not help us lower prices now. Thats like saying don't call the police to stop a serial killer who just killed your neighbor because it won't help him any now eventhough there is a danger still around. Drill Now, Drill Often. Where is Jed Clampet ( the Beverly Hillbillies) now that we need him?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
They do have 68 million acres. It's just not in the Gulf. It's on Federal Wildlife reserves. The oil companies are not drilling it because it's too expensive to do so. They were waiting for the easier off-shore drilling to be approved. BTW, more oil won't help prices...the suits on Wall Street need to stop speculating, that'll bring the prices down.
That's not all in the Gulf, so no. About 76% of the public waters under lease in the Gulf are not being drilled yet.
The 68 million acres includes more than 40 million acres in Idaho, Utah, and a bunch of other states.
Yeah, they already have rights in the gulf and alaska. Does that mean they have rights to all the oil in the gulf and alaska? Of course not. Should they, yes of course they should.
Actually that was proven to be a number they pulled out of their hat within a couple of hours and is completely phony. They have spent the last 20 years putting areas where known reserves are located completely off limits.
Just because its open for drilling doesnt mean theres oil there, oil companies risk billions of dllars not to mention time in exploring oil. Research needs to be determine first to warrant the expensive drilling.
The issue with the leases they currently have is that they are too short to permit the testing and exploration that needs to be done to make their efforts worthwhile.
Oil companies are raising prices and won't stop until they get what they want and that's to drill anywhere they want
Yes, including land in Alaska.
No! They may have 68 million acres the Republicans would like to open up for them to drill in which belong to the people of the United Sates of America! Not to the oil companies!
Bush and McCain want to see how much wildlife they can destroy using a trumped up oil shortage as a reason. There is PLENTY of oil. All the oil companies have to do is ask, but they haven't and drilling in federally owned property is why they haven't asked! There is no oil shortage and there never has been one!
As far as clean energy, if the oil companies would quit buying all the patents perhaps we would have a lot more by now but they don't want to risk their obscene profits!
The oil companies according to this ';Congressman Nick Rahall is telling big oil companies to ';use it or lose it.';
Rahall, D-W.Va., introduced legislation last week that gives those companies an ultimatum: Start producing oil on their 68 million acres of inactive land or risk federal restrictions on future lease requests.
A report by the U.S. House Committee on Natural Resources, which Rahall chairs, states that oil and gas companies hold leases to 68 million acres of federal land and waters, spread out all across the country, that are not producing anything. An additional 4.8 million barrels of oil could be produced daily if the land was utilized, the report says.
Rahall told the Daily Mail that oil companies should be held accountable much like coal companies, which are required by federal law to develop their leases.
';Companies that lease federal coal resources are required, as a result of the Federal Coal Leasing Amendments Act of 1976, to diligently develop their leases,'; Rahall said. ';This requirement has discouraged the rampant speculation on federal coal as a result of the energy crises of the 1970s -- the same type of speculation that now appears to be plaguing the federal oil and gas leasing program.'; have 68 million acres they don't use that is already LEASED to them.
http://www.dailymail.com/News/2008061801…
No, they don't...and your first clue should been ';The democrates (sic) claim...';
Also, your question is in the wrong category...it doesn't have to do with the military.Do the oil companies really have 68million acres in the gulf they can drill in gulf without restrictions?
I forget the actual number but there is a large amount of area leased for drilling. What is not being said by the main media is that it is unknown for the most part if that land has oil. It will cost oil company millions upon millions of dollars to go thur the hit and miss drilling needed to find some oil. We do know there is oil in ANWAR in Alaska so we should get the drilling and production going there ASAP and stop fooling around and wasting time.
Also, the people who are making a big deal about big oil profits are not understanding something very basic. Most oil companies like Exon are only making about a 9% profit. The big amount of profits is because more people around the world are using more oil then ever especially in expanding markets like China and the Middle East. You will notice that the main media will not tell you how much percentage of profit the oil companies are making. The people who blame the oil companies will not say either since most don't know. Most businesses need to make at least over a10% profit to be able to keep going.
Congress had an investigation with some of the oil companies last year and warned them of not price gouging but that was all they could do because there was no evidence that it was happening. Now some critics are saying we should not drill because it will not help us lower prices now. Thats like saying don't call the police to stop a serial killer who just killed your neighbor because it won't help him any now eventhough there is a danger still around. Drill Now, Drill Often. Where is Jed Clampet ( the Beverly Hillbillies) now that we need him?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
They do have 68 million acres. It's just not in the Gulf. It's on Federal Wildlife reserves. The oil companies are not drilling it because it's too expensive to do so. They were waiting for the easier off-shore drilling to be approved. BTW, more oil won't help prices...the suits on Wall Street need to stop speculating, that'll bring the prices down.
That's not all in the Gulf, so no. About 76% of the public waters under lease in the Gulf are not being drilled yet.
The 68 million acres includes more than 40 million acres in Idaho, Utah, and a bunch of other states.
Yeah, they already have rights in the gulf and alaska. Does that mean they have rights to all the oil in the gulf and alaska? Of course not. Should they, yes of course they should.
Actually that was proven to be a number they pulled out of their hat within a couple of hours and is completely phony. They have spent the last 20 years putting areas where known reserves are located completely off limits.
Just because its open for drilling doesnt mean theres oil there, oil companies risk billions of dllars not to mention time in exploring oil. Research needs to be determine first to warrant the expensive drilling.
The issue with the leases they currently have is that they are too short to permit the testing and exploration that needs to be done to make their efforts worthwhile.
Oil companies are raising prices and won't stop until they get what they want and that's to drill anywhere they want
Yes, including land in Alaska.
No! They may have 68 million acres the Republicans would like to open up for them to drill in which belong to the people of the United Sates of America! Not to the oil companies!
Bush and McCain want to see how much wildlife they can destroy using a trumped up oil shortage as a reason. There is PLENTY of oil. All the oil companies have to do is ask, but they haven't and drilling in federally owned property is why they haven't asked! There is no oil shortage and there never has been one!
As far as clean energy, if the oil companies would quit buying all the patents perhaps we would have a lot more by now but they don't want to risk their obscene profits!
The oil companies according to this ';Congressman Nick Rahall is telling big oil companies to ';use it or lose it.';
Rahall, D-W.Va., introduced legislation last week that gives those companies an ultimatum: Start producing oil on their 68 million acres of inactive land or risk federal restrictions on future lease requests.
A report by the U.S. House Committee on Natural Resources, which Rahall chairs, states that oil and gas companies hold leases to 68 million acres of federal land and waters, spread out all across the country, that are not producing anything. An additional 4.8 million barrels of oil could be produced daily if the land was utilized, the report says.
Rahall told the Daily Mail that oil companies should be held accountable much like coal companies, which are required by federal law to develop their leases.
';Companies that lease federal coal resources are required, as a result of the Federal Coal Leasing Amendments Act of 1976, to diligently develop their leases,'; Rahall said. ';This requirement has discouraged the rampant speculation on federal coal as a result of the energy crises of the 1970s -- the same type of speculation that now appears to be plaguing the federal oil and gas leasing program.'; have 68 million acres they don't use that is already LEASED to them.
http://www.dailymail.com/News/2008061801…
How bad do you hate oil companies for making gm destroy all the electric cars?
It happened years ago but we should preserving what is left of our non renewable oil. What are some affordable electric cars out right now?How bad do you hate oil companies for making gm destroy all the electric cars?
i take it ur talking about the EV1 yea it was sad,but now we are heading back to electric cars.How bad do you hate oil companies for making gm destroy all the electric cars?
not any more than people that that do not have a clue what they are talking about. Therefore, instead of spreading hate against people with no clue, I will spread some advice, you need to see a psychiatrist about your paranoia schizophrenia.
GM had little interst in keeping the cars either since the maintenance was virtually nil on these cars. Lots of money is made changing oil and filters. The maintenance bays would have been empty.
I think it's terrible. There was an electric Studebaker
I have no hate in my heart for those oil companies. Electric cars like the Tesla Roadster will come in due time.
i take it ur talking about the EV1 yea it was sad,but now we are heading back to electric cars.How bad do you hate oil companies for making gm destroy all the electric cars?
not any more than people that that do not have a clue what they are talking about. Therefore, instead of spreading hate against people with no clue, I will spread some advice, you need to see a psychiatrist about your paranoia schizophrenia.
GM had little interst in keeping the cars either since the maintenance was virtually nil on these cars. Lots of money is made changing oil and filters. The maintenance bays would have been empty.
I think it's terrible. There was an electric Studebaker
I have no hate in my heart for those oil companies. Electric cars like the Tesla Roadster will come in due time.
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