Offshore Drilling: Fact Vs. Fiction

[Toadman]

Big Oil companies built and serviced the infrastructure of Saudi oilfields and they're pretty screwed, arent they?

[Chuckiechan]

Quote:

Demand is only down 5%. Are you suggesting that 5% causes a 2.5 times increase in price?

Yes.

It's like bidding for the last life jacket...

It interesting to see the "new Democrats" and the "old Democrats". The old Democrats would be crying about the financial burden on the poor.The new Democrats don't care.

They are above the fray... sipping latte's, reading newspapers telling them how "special" they are.

Please, hold your course. Don't change your rhetoric. The middle class understands they get to be a who new class of "victim"...! Hooray! I'll bet they can hardly wait.

[MTAtech]

Quote:

Originally Posted by Toadman

Big Oil companies built and serviced the infrastructure of Saudi oilfields and they're pretty screwed, arent they?

In Iraq, the big oil cos got no-bid contracts. They're the screwers not the screwees.

Chuck, let go of the new Democrats don't care about the poor nonsense. The Republicans have for decades resisted every effort that would have reduced oil consumption. In my book they have no right to act as if they are the enlightened ones.

Anyone with a brain can see that we have to address long-term energy because long-term problems end up being today's problems.

[Chuckiechan]

Quote:

Chuck, let go of the new Democrats don't care about the poor nonsense. The Republicans have for decades resisted every effort that would have reduced oil consumption. In my book they have no right to act as if they are the enlightened ones.

So they have been abandoned by both parties? Not quite. At least the Republicans will offer jobs rather than welfare and hand outs.

Obama and his crew are turning a deaf ear to solutions for lowering gas prices. "It's a phony choice", "It hurts polar bears", "More oil doesn't lead to lower prices", "less oil means lower prices"...

You guys are terrible.

But please hold your course, some times America is slow to wake up to a good old fashioned Democrat screwing!

The most economically sour times in my life were Lyndon Johnson's tax increase leading into recession, Nixon's attempt to right the economy with price controls, Carter's hyper inflation and recession. Clinton did ok, only because of all of the dot.com activity going on bringing in revenue to the Treasury. Anyone can shine in good economic times. Bad times separate the true leaders from the simply lucky.

You don't know how good you have it!

[Pexster]

Chuck, you are a master of talking out of both sides of your various orifices. Are you for free markets or not? Do you think it is the federal government's job to lower gasoline prices? For the life of me, I can't find any consistency to your logic; except maybe the lack thereof.

[MTAtech]

The worst economic times I remember were during the stagflation era of Ford, when there was a recession but prices rose anyway. The same thing occurred during the last year of Carter and the first two years of Reagan. Both were caused by sharp increases in the price of oil.

Nixon's price controls were a failure. Holding the price of a good below its market price just leads to shortages and black-markets. Nobody is going to sell you something for less than it's worth.

Johnson had to raise taxes because he didn't want a one billion dollar deficit. Of course, the Vietnam War was the major reason for the need for a tax increase. At least Johnson had the courage to pay for the war upfront, instead of passing its cost along to future generations, like the Bushies are doing with the Iraq War.

Pexster has a good point. Is it the government's job to effect commodity prices?

[Epidemic]

Quote:

Originally Posted by Pexster

Chuck, you are a master of talking out of both sides of your various orifices. Are you for free markets or not? Do you think it is the federal government's job to lower gasoline prices? For the life of me, I can't find any consistency to your logic; except maybe the lack thereof.

Oil runs the economy, hell it makes money available to pay for welfare and green house gas studies.

Free market might on occasion need a kick in the ass.

We just disagree with your method of complete government direction and ownership.

[The Real Bingo]

The only thing that needs to be done to bring oil prices down is to strengthen the dollar. You're all running around like chickens with your heads cut off trying to find the magic solution: well there it is. It solves more than just oil prices. It makes your food - which is kind of important - cheaper, too.

The Fed doesn't know what the hell to do. They lower rates, and the financial and housing sector still suffers. It just "cushions" the blow - i.e. it prolongs it. No one is happy when their dollar is worth less than shit, and that's why I don't understand the incessant rate cutting. Maybe the economy doesn't grow as fast with a 7.5% rate...but it's not growing worth a damn now...and maybe with higher rates, you can at least take your dollar for a better ride.

[MTAtech]

TRB, aren't oil prices rising world-wide, even in Europe where they use the Euro?

[Epidemic]

Quote:

Originally Posted by MTAtech

TRB, aren't oil prices rising world-wide, even in Europe where they use the Euro?

TRB I second that.

I also add to that one more question, how does one raise the value of the dollar?

domestic oil production I think might be a start.