YeeeeeeHaaaaaa: Drill Baby Drill

[Bill]

Originally Posted by ChasC5

or how about we become innovative and explorers once again.

Deepwater drilling IS innovative and explorative.

Hydraulic fracking of shale IS innovative and explorative.

Getting usable oil out of oil sands IS innovative and explorative.

[LATB]

Originally Posted by ChasC5

or how about we become innovative and explorers once again.

Obama won't let them explore for oil.

Originally Posted by ChasC5

Now you understand why I post the way I do.

Thanks for helping bring clarity to what the real thingin around here truly is.

I can totally respest a person who comes out and speaks their mind. It the cowards who speak in covert code who I have no respect for.

name names.

[ChasC5]

Originally Posted by LarsAtTheBeach

Obama won't let them explore for oil.


name names.

Looks to me they are.

No need to, they already know who they are as well as their backers.

[LATB]

Originally Posted by ChasC5

Looks to me they are.

are you really this clueless?

[mrvette]

Originally Posted by ChasC5

Looks to me they are.

No need to, they already know who they are as well as their backers.

I WISH I had a backer to cover all the .gov bullshit I have to pay for all my life....

I begrudge every dime I ever paid in taxes.....seriously....feel the entire .gov job could have been done for maybe 30% of the taxes......bottom to top....

but NO, all the lawyers from Sup Ct. on down have so screwed the system, that nothing gets done, from snail farter fish to all the bullshit they get away with....and the pile is higher than Everest....

on BOTH sides of the isle....

NO MORE LAWYERS IN PUBLIC OFFICE OF ANY KIND>>>>NONE< NADA>>>>

[RetiredSFC 97]

Originally Posted by LarsAtTheBeach

wasn't that the purpose of the Dept. of Energy? to work to move us away from foreign oil dependence?

how many years has it been?

how many billions spent annually on all those dept. of energy fed jobs? legacy costs? what exactly have they done?

heard they have good Christmas parties

[R.Zaragoza]

Originally Posted by chasc5

i saying he’ll most likely consider both sides of the argument and recommend a compromise that will be best for america.

rim?

[Scissors]

Originally Posted by ChasC5

I'll do whatever I want to do, and you can do your own research. But everyone knows the oil market speculators are the ones that affect the open market prices.

Yes, supply and demand due to speculators does play a role in price volatility in the marketplace.

But there's a reason speculators think that prices are going to continue upwards long-term.

[Tinkerbell in Texas]

Originally Posted by Scissors

Yes, supply and demand due to speculators does play a role in price volatility in the marketplace.

But there's a reason speculators think that prices are going to continue upwards long-term.

as does the Federal policies with regards to the dollar. Said policies are estimated to add 56 cents to the price of a gallon of gas. Weak dollar = higher cost per gallon.

[Mark C5]

I just have to wonder what it is that makes anyone think that drilling here will make the slightest difference in the price we pay at the pump.

What makes anyone think the oil companies will only sell the oil to the US market. Is that required in their leases? It would seem to me they will sell the oil at the best price they can get wherever that may be.

And why would the oil companies lower their prices just because they got the oil here rather than overseas? Would they do it out of patriotism? Won't they continue to get the highest price they can for their product regardless of their cost to produce that product?

And would it really be cheaper for them do get the oil here rather than from some third world country where the labor and transportation costs are a tenth what they are here?

I don't have any answers, just a lot of questions.

[ChasC5]

Originally Posted by Scissors

Yes, supply and demand due to speculators does play a role in price volatility in the marketplace.

But there's a reason speculators think that prices are going to continue upwards long-term.

Yea ... because they are experts

[VITE1]

Originally Posted by Mark C5

I just have to wonder what it is that makes anyone think that drilling here will make the slightest difference in the price we pay at the pump.

What makes anyone think the oil companies will only sell the oil to the US market. Is that required in their leases? It would seem to me they will sell the oil at the best price they can get wherever that may be.

And why would the oil companies lower their prices just because they got the oil here rather than overseas? Would they do it out of patriotism? Won't they continue to get the highest price they can for their product regardless of their cost to produce that product?

And would it really be cheaper for them do get the oil here rather than from some third world country where the labor and transportation costs are a tenth what they are here?

I don't have any answers, just a lot of questions.

It will not have a direct impact on lowering the price of gas at the pump.

But if we produced enough oil to provide 100% of our needs, which we do have enough reserves to cover for centuries we will have a BILLION dollars a day staying in the US economy VS going overseas.

Think what over 300 BILLION dollars a year in oil revenue will do to employment, GDP and taxes.

US demand for gas has dropped for the past few years. But demand for Oil from India and China as well as other growing economies is taking up the slack. Coupled with both China and India making long term investments in Oil production in many other regions we are behind the curve, yet again, in terms of energy independence.

[Mark C5]

Originally Posted by VITE1

It will not have a direct impact on lowering the price of gas at the pump.

But if we produced enough oil to provide 100% of our needs, which we do have enough reserves to cover for centuries we will have a BILLION dollars a day staying in the US economy VS going overseas.

Think what over 300 BILLION dollars a year in oil revenue will do to employment, GDP and taxes.

US demand for gas has dropped for the past few years. But demand for Oil from India and China as well as other growing economies is taking up the slack. Coupled with both China and India making long term investments in Oil production in many other regions we are behind the curve, yet again, in terms of energy independence.

I really don't see how that 300 billion would help out the average US Citizen. It will mostly go to the pay of the top level execs at the oil companies. Yes, the stockholders may see a little, but it would be very little. The jobs would not be that many either. Maybe a few thousand at the most in the oil fields. Refinery capacity would stay the same, not affected by where the oil comes from.

As far as taxes, come on now. You know these companies aren't going to any more, that's why they hire legions of lawyers and accountants.

And again, why are you so sure the oil will be used to supply the US and not shipped overseas to stronger markets?

I just have a hard time seeing the benefit we are all supposed to get if we allow more drilling here. Don't get me wrong, I'm not opposed to it, I just don't see how any of us, other than the oil companies, benefit.

[VITE1]

Originally Posted by Mark C5

I really don't see how that 300 billion would help out the average US Citizen. It will mostly go to the pay of the top level execs at the oil companies. Yes, the stockholders may see a little, but it would be very little. The jobs would not be that many either. Maybe a few thousand at the most in the oil fields. Refinery capacity would stay the same, not affected by where the oil comes from.

As far as taxes, come on now. You know these companies aren't going to any more, that's why they hire legions of lawyers and accountants.

And again, why are you so sure the oil will be used to supply the US and not shipped overseas to stronger markets?

I just have a hard time seeing the benefit we are all supposed to get if we allow more drilling here. Don't get me wrong, I'm not opposed to it, I just don't see how any of us, other than the oil companies, benefit.

The top private oil company in the world made a 10% profit last quarter. Thats 0.40 per gallon of gas.

so all those rough necks, Suppliers, Restaurants that feed them along with all the other income taxes and SS taxes paid by the people drilling the gas will have no effect?

Stop believeing the crap feed to you by the left and look at the actual numbers.

[Mark C5]

Originally Posted by VITE1

The top private oil company in the world made a 10% profit last quarter. Thats 0.40 per gallon of gas.

so all those rough necks, Suppliers, Restaurants that feed them along with all the other income taxes and SS taxes paid by the people drilling the gas will have no effect?

Stop believeing the crap feed to you by the left and look at the actual numbers.

The top private oil company exec made 249 million in pay and bonuses last year. The top three made 306 million combined. That 10% profit is figured AFTER they pay out to the execs, board members and capital gains to shareholders. And it's actually more like 8%. Their actual return on capital employed is 34% according to their shareholder reports.

I routinely read, watch and listen to as many news sources as I possibly can. Fox, NBC, CBS, ABC, Wall Street Journal, etc..

As I said, yes some people in the oil fields would benefit but that is very few compared to the entire population.

And once again, I don't care if they drill here or not. Just don't try to tell me how good it will be for anyone but the oil companies and how we all get free gas!

[ChasC5]

Originally Posted by Mark C5

The top private oil company exec made 249 million in pay and bonuses last year. The top three made 306 million combined. That 10% profit is figured AFTER they pay out to the execs, board members and capital gains to shareholders. And it's actually more like 8%. Their actual return on capital employed is 34% according to their shareholder reports.

I routinely read, watch and listen to as many news sources as I possibly can. Fox, NBC, CBS, ABC, Wall Street Journal, etc..

As I said, yes some people in the oil fields would benefit but that is very few compared to the entire population.

And once again, I don't care if they drill here or not. Just don't try to tell me how good it will be for anyone but the oil companies and how we all get free gas!

You mean you're not going to swallow what they give you .... ?

[RedLS1GTO]

Originally Posted by Mark C5

The top private oil company exec made 249 million in pay and bonuses last year. The top three made 306 million combined.

The compensation of the top execs for almost any corporation are always insane numbers. Exxon, Shell, BP, Sinopec, PetroChina, Total S.A., and Chevron are the #2-8 ranked companies in the World based on revenue. When you extrapolate their compensation compared to most of the other large corporation execs, they are pretty much right on par.

Yea, it is sickening how much they make, but you can't use that to call out the oil industry when EVERY industry has the same thing going on. On the same note, when you are talking about reported profits being taken after these payouts, again, that is no different than any other corporation out there.

Exxon had somewhere north of $300B in revenue which would make $249M approx. .08%. Again, the numbers are staggering to "normal" people but they are right on track with most of the corporations in the World in terms of executive payouts vs. revenue, not some hugely inflated number like you make it sound.

[VITE1]

Originally Posted by Mark C5

The top private oil company exec made 249 million in pay and bonuses last year. The top three made 306 million combined. That 10% profit is figured AFTER they pay out to the execs, board members and capital gains to shareholders. And it's actually more like 8%. Their actual return on capital employed is 34% according to their shareholder reports.

I routinely read, watch and listen to as many news sources as I possibly can. Fox, NBC, CBS, ABC, Wall Street Journal, etc..

As I said, yes some people in the oil fields would benefit but that is very few compared to the entire population.

And once again, I don't care if they drill here or not. Just don't try to tell me how good it will be for anyone but the oil companies and how we all get free gas!

So sending money to Chaevez and the Saudis is much better than having money going to American citizens because you think they make too much.

Right Got it.

[Mark C5]

Originally Posted by VITE1

So sending money to Chaevez and the Saudis is much better than having money going to American citizens because you think they make too much.

Right Got it.

I think you are missing my point. The oil companies are not going to limit their sales to the US. We will still be importing oil from Saudi Arabia and Venezuela because it will still be cheaper to do so.

Our oil most likely will go to China, who is willing to pay almost anything to fuel their growing economy at this point.

And, have you read where I said I'm not opposed to drilling here? Have I once said we shouldn't?

[Mark C5]

Originally Posted by RedLS1GTO

The compensation of the top execs for almost any corporation are always insane numbers. Exxon, Shell, BP, Sinopec, PetroChina, Total S.A., and Chevron are the #2-8 ranked companies in the World based on revenue. When you extrapolate their compensation compared to most of the other large corporation execs, they are pretty much right on par.

Yea, it is sickening how much they make, but you can't use that to call out the oil industry when EVERY industry has the same thing going on. On the same note, when you are talking about reported profits being taken after these payouts, again, that is no different than any other corporation out there.

Exxon had somewhere north of $300B in revenue which would make $249M approx. .08%. Again, the numbers are staggering to "normal" people but they are right on track with most of the corporations in the World in terms of executive payouts vs. revenue, not some hugely inflated number like you make it sound.

I'm not quibbling about their compensation. All I am saying is when they cry about how little profit they actually make you need to take into consideration how they come to those numbers. As I said, their real profit is more like 34%.

I'm not sure where you got that 300 billion figure for Exxon but their SEC filings show a global income of 57 billion with 7.7 billion of that coming from the US.