Plenty of oil...

Jarod

Jarod

Well-known member
Contributor
There is no supply problem, thats what the Oil Companies want you to belive. The only supply problem is that the Saudi's are sitting on most of the oil, Iran wants to harm us, and Iraq is a mess.

Otherwise there is plenty of oil. They just want to justify $4, gas. When was the last time you went to the pump and the sign said, "Out of Gas"?
 
http://www.chron.com/disp/story.mpl/business/5793518.html
On Tuesday, the Democratic-led House easily passed the Gas Price Relief for Consumers Act, a largely symbolic measure aimed at the Organization of the Petroleum Exporting Countries.

The measure, approved 324-84, would declare as illegal any effort by the cartel to set world oil prices.

The bill would authorize the Justice Department to bring suit against OPEC member countries in U.S. federal courts.

The House approved identical language a year ago, and Bush has threatened repeatedly to veto a bill that contains this provision.

House Democrats noted, however, that the bill passed by a veto-proof margin.

The new bill also would create a special antitrust task force within the Justice Department to look for evidence of price gouging, anticompetitive price discrimination by refiners, and unilateral actions to withhold supply or manipulate markets.

House Speaker Nancy Pelosi hailed the vote "to hold foreign oil cartels and Big Oil accountable."

"Instead of using a veto threat to shield cartels and Big Oil companies from accountability, the Bush administration should work work with the Congress to protect American consumers," Pelosi said......
 
seems that with this, as well is with the efforts on creating a windfall tax as well as lifting the tax breaks the oil companies get.... that even members of our congress think the oil companies are gouging.
 
that's funny shit, false outrage at the congressional level.
We want to use all their oil before we drill ours, LOL democrats are raising the price.
 
Topspin said:
wow what a rocket scientist, stop buying and we will lower the price.
Click to expand...

My brother ..

In many ways Americas ARE buying less gas and have reduced their driving habits dramatically.

The price of gas continues to rise.

Do you not see the manipulation of prices in this?

Are you sure the oil corporations are operating in America's best interest or are they operating from the bottom line?

If oil is so plentiful .. what is the Great Game?

Why did this nation invade Iraq if oil is plentiful?
 
blackascoal said:
My brother ..

In many ways Americas ARE buying less gas and have reduced their driving habits dramatically.
2% less last year, not much of a decrease
The price of gas continues to rise.
as it will as oil goes up,
Do you not see the manipulation of prices in this?
you believe in fairy tails, oil is a world commodity, if I could fix it why not $1,000 bbl

Are you sure the oil corporations are operating in America's best interest or are they operating from the bottom line?
no companies operate in America's best interest, they ALL operate in their shareholders interest (you prob own some oil stock if you have a 401K or mutual funds)

If oil is so plentiful .. what is the Great Game?
businesses sell their products for as much as they can get, it's what they do

Why did this nation invade Iraq if oil is plentiful?
Click to expand...

cheap oil is not plentiful, how much do you think Sadam would have made up pay if he'd have kept Kuwait and invaded and Saudi also???:clink:
 
Less than we are paying now.
What percentage of our oil currently comes from Kuwait and Iraq ?
Or to put in broader perspective, what percentage of oil to the world production of oil does Iraq and Kuwait provide ?
 
How 5% of the global oil supply has suddenly vanished



The respected oil industry newsletter Petroleum Intelligence Weekly says that Kuwait has only half the oil that official estimates have claimed. That would mean that 5% of the global oil supply has vanished overnight, says Byron King in Whiskey & Gunpowder. But this might be just the tip of the iceberg - Saudi Arabia may well be facing the same problem...

Word just came out that Kuwait, long regarded as home to some of the world's largest reserves of petroleum, may possess only half the amount of oil reserves that it officially has been stating for many years.

According to a restricted report issued by the authoritative industry newsletter Petroleum Intelligence Weekly (PIW), internal Kuwaiti records reveal that the nation's oil reserves are far below the officially stated amount of about 99 billion barrels. Kuwait's reported 99 billion barrels, if they were really there in the ground, would make up about 10% of world's reported oil reserves.

http://www.moneyweek.com/file/7362/how-5-of-the-global-oil-supply-has-suddenly-vanished.html
 
I'll put up my job and two degrees vs you and your turbo-lib hoards who have never been in a business class. LOFL
 
I own and run 2 businesses Topsputter. How many do you own and run ?

Ohh wait you are still working for da man aren't you ;)
 
Jarod said:
There is no supply problem, thats what the Oil Companies want you to belive. The only supply problem is that the Saudi's are sitting on most of the oil, Iran wants to harm us, and Iraq is a mess.

Otherwise there is plenty of oil. They just want to justify $4, gas. When was the last time you went to the pump and the sign said, "Out of Gas"?
Click to expand...

There are a couple of facts that have been overlooked on this thread. There is plenty of oil, there is no shortage. In America, we have untapped oil reserves that we are not allowed to access because of Liberal policies. For some reason, we are not allowed to drill new wells off the coast of California or in the Gulf of Mexico. The Cubans along with other countries are allowed to exploit the oil reserves in these places, but for some reason, we are not. ANWR in Alaska is off limits even though it can be drilled without any harm to the environment.

Gasoline production is pushing the limits. There has not been any new refineries built since the mid 70s. It is not a shortage of oil, it is a question of gasoline and diesel production. Refineries are at their capacity and have been for years/decades. It is a simple fact of Supply and Demand. The demand for gasoline has out run the ability to address that supply.

How much do the oil companies make per gallon and how much does the Government make per gallon in the way of taxes?
 
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