Oil drops IMMEDIATELY after offshore ban EO repeal

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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby TCF » Sun Aug 10, 2008 1:00 am

From the air waves.

August 5, 2008 - 12:37 ET
The issue:

'Creeping Communism-Demonizing Big Oil'


1. Let's see. They're called OIL COMPANIES for a reason. They find, drill for, and deliver OIL. Some, like British Petroleum HAVE made the business decision to branch out and develop new sources of energy, but in the United States of America, should the government be dictating to private businesses what they spend their money on?

2. Is it, comrade? Glad you think so. If Obama is elected, and follows through with taking oil profits, do you think it will STOP with oil profits? Their profit margin is only 7-11%. Why take a chunk of Microsofts much larger profit margin? Or the cell phone industry or hoteliers? The markup on diamonds is up to 1000%...isn't that obscene? As for whether or not states and/or "working families" have the right to the profits oil companies have made, I guess that depends on whether you adhere to the U.S. Constitution or the Communist Manifesto.

3. If these money making oil companies are so bad because they make money, the Fannie Mae and Freddie Mac must be positively angelic for running their businesses into the ground and having to be bailed out by the government? IndyMac and Bear Stearns, truly saintly. Miserable failures, who required bailouts with taxpayer dollars seem to completely escape the ire of the democrat/liberal whining machine. Those who succeed at what they're doing and prosper, are vilified. Well, СЧАСТЛИВЫЙ СЛУЧАЙ, comrade.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby platypusman » Sun Aug 10, 2008 8:20 am

This is what troubles me about Obama. It is very easy to bash big oil and tell everyone you'll take their profits but more difficult to put forth a policy that will lower prices. Obama just won't understand it is supply and demand that determines the price of oil. He should support increasing the supply by allowing offshore drilling.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby Michael Pelletier » Sun Aug 10, 2008 9:28 am

RD wrote:Nope, they've been trying other viable measures, such as offering up new leases in trade for leases that oil companies already have but aren't even using.

The Dem's "Use it or Lose it" proposal was already established law.

Are you talking about a different proposal that I haven't heard of yet where the Democrats are suggesting that an oil company should exchange lease A1 for lease D4?

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Exxon-Mobil has proposed over 20 drilling plans in the Alaskan Point Thompson lease, but all of them have been scuttled by government bureaucrats. Now, of course, the government proposes to revoke the lease because of the "lack of activity" on the lease - what a racket! Sounds like the classic land-contract/mortgage scam.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby RD » Sun Aug 10, 2008 9:29 am

Jeannine, I don't understand your response. We, the American people, have leased our own land to oil companies so they can drill on it. They're not drilling on that land we've leased them. They want to drill elsewhere on our land. That's fine, but they're going to have to give up those leases of our land that they're not interested in. What's wrong with that?
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby platypusman » Sun Aug 10, 2008 9:35 am

RD wrote:Jeannine, I don't understand your response. We, the American people, have leased our own land to oil companies so they can drill on it. They're not drilling on that land we've leased them. They want to drill elsewhere on our land. That's fine, but they're going to have to give up those leases of our land that they're not interested in. What's wrong with that?


RD they are not drilling because the ROI to bring oil if any from the properties is not positive.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby RD » Sun Aug 10, 2008 10:02 am

platypusman wrote:
RD wrote:Jeannine, I don't understand your response. We, the American people, have leased our own land to oil companies so they can drill on it. They're not drilling on that land we've leased them. They want to drill elsewhere on our land. That's fine, but they're going to have to give up those leases of our land that they're not interested in. What's wrong with that?


RD they are not drilling because the ROI to bring oil if any from the properties is not positive.

Then what's wrong with taking our own land, which they are not using, back if they're asking for new land to drill on?
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby Jeannine Stergios » Sun Aug 10, 2008 10:48 am

Rd

Then what's wrong with taking our own land, which they are not using, back if they're asking for new land to drill on?


What are your plans for this leased leand if it's returned? It takes years for the government to hand out leases so they are probably reluctant to give up any land until the 10 years expire.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby Michael Pelletier » Sun Aug 10, 2008 11:13 am

RD wrote:Jeannine, I don't understand your response. We, the American people, have leased our own land to oil companies so they can drill on it. They're not drilling on that land we've leased them. They want to drill elsewhere on our land. That's fine, but they're going to have to give up those leases of our land that they're not interested in. What's wrong with that?

Well, in the case of Point Thompson, they're very interested in drilling, but the government has been preventing them from doing so.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby Ken Coleman » Sun Aug 10, 2008 7:45 pm

RD they are not drilling because the ROI to bring oil if any from the properties is not positive.


Really, At over $100 a barrel there is not enough return on investment?

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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby Michael Pelletier » Mon Aug 11, 2008 11:42 am

If the oil deposit is geologically equivalent to a rainbow sheen on a wet city street, then it's perfectly plausible that it might cost more than $150 to recover 42 gallons worth.
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Re: Oil drops IMMEDIATELY after offshore ban EO repeal

Postby RD » Mon Aug 11, 2008 8:04 pm

Then why all the fuss about drilling?
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