Say Anything Blog

let’s see. the oil companies have millions of acres leased that they won’t drill on. the gop wants to give them millions of acres more and that will entice them to drill.

reality seems to be, the oil companies don’t care what the price of a barrel is. we seem to have enough oil and they are making tens of billions in profit. if they start drilling, that will cost them some of that billions in profits.

even with the high cost of a barrel, they would have to cut into their profits. where is the incentive for them to drill?  they must cut their profits, say 25% for the next 6-8 years to pay for drilling that may or may not produce a single barrel. if they do find the oil, will the barrel still be selling for $140 or will it have dropped back down to $70. that means they gave up BILLIONS in profit for 6+ years to earn hundreds of millions in profit. i’m no oil man, but that doesn’t sound reasonable to me.

Same old story...What’s good for America is bad for Democrats.

let’s see. the oil companies have millions of acres leased that they won’t drill on.

Fullofshedd: Certain leases allow the oil companies to explore, but not extract oil from them. Congress blocks extraction on those leases. Other leases are not cost effective to extract oil. These Congress doesn’t bother to block.

i’m no oil man

No surprise there!

Better to have it and not need it than need it and not have it.

crshedd:  Decades ago, the oil industry leased thousands of acres of land to search for potential oil on them. They have found that almost none of that acreage has enough supply to warrant drilling. The Democrats know that.

When Reid and Pelosi pontificate about the need to drill on existing leases and propose such phony legislation as the Drill Now Act, they know full well nothing can or will happen. They don’t want anything to happen!  High gas prices translate to votes in November.

China has now begun oil exploration and drilling on the Atlantic Shelf less than a hundred miles from our coast… but we can’t!

The so-called huge profits made by big oil must be used to compete in an ever-expanding global oil market where China and India have become major customers and the weakened dollar buys less and less.

Moreover, increased domestic drilling would be cheaper and produce larger sales by volume.  The oil industry will not have to take a loss and we would lower our dependence on foreign oil.

You have bought the liberal-left mantra hook, line and sinker.

"Here lies, in honored glory, an American soldier, known but to God.”

The times, they are a-changin’...
Bob Dylan

Moreover, increased domestic drilling would be cheaper and produce larger sales by volume

i don’t know if i did the above quote from you pparets, i’ll know when i post this.

do you really think oil will become cheaper? any oil we find will go on the open market and it will cost us the same as oil from saudi arabia.  and if you remember, the saudis announced they will increase production by 300,000 barrels and what did that do to the price? record highs since then.

and,hey, proof. do you have proof that ‘congress blocks the extraction’ of the oil on the leased lands? sure would like to see a link.

Pay attention!

Natural gas wells were drilled in New York state. A Judge promptly ruled that they had to be shut down as land nearby ‘might’ suffer pollution!

A natural well is ready to go online in Mass. So, what did the Dems do? The immediately claimed that a river, nearby, had to be protected from pollution and demanded the natural gas source be abandoned!

The Dems scream, “Drill on lands where you hold leases but for God’s sake, don’t expect to get any oil or gas from them!”

Lee S. Gliddon:  Last week a federal judge in Michigan heard complaints from environmentalists and blocked oil drilling - already approved! - in north-west Michigan!

"Here lies, in honored glory, an American soldier, known but to God.”

The times, they are a-changin’...
Bob Dylan

crshedd.  There is a law of economics called supply and demand.  When the supply increases, the price goes down on the demand curve.  Simple undergraduate economics.  It works for every unregulated (by government) commodity.

Communism is evil

Democratic leaders appeared to choose the unusual process because it allowed them to deny Republicans a vote on opening up new offshore areas for drilling.

lol AND WHY??????

There sure a lot of socialist PLANTS coming over here from the DNC lately....

They must be getting WORRIED!

Last week a federal judge in Michigan heard complaints from environmentalists and blocked oil drilling - already approved! - in north-west Michigan!

There’s a federal statute that tells the Bureau of the Interior what steps it has to take to approve drilling.  The Bureau in this case just didn’t do what it was required to do, and the judge called the agency on it.

Don’t blame the cop when you’re busted for speeding.

The Drill Now Bill or whatever it’s called is patently stupid, of course.

The Drill Now Bill or whatever it’s called is patently stupid, of course.

Only to those who wish to choke off economic growth for partisan political purposes.

"Give the lefties a pile of money, and they’ll spend it buying votes.” - Rush Limbaugh on the “bailout”.

r108:  I think you meant “but not to those who want to choke off....”

"Here lies, in honored glory, an American soldier, known but to God.”

The times, they are a-changin’...
Bob Dylan

crshedd - i’m no oil man

That much is obvious. You pontificate many assuming things on that of which you know nothing about. You liberally make many erroneous assertions and then argue from that position of ignorance. You conceitedly believe that you know more about the oil business than the people running it before admitting that you don’t know.

Yeah.  Nice catch, pp.  Thanks.

"Give the lefties a pile of money, and they’ll spend it buying votes.” - Rush Limbaugh on the “bailout”.

crshedd,

You’re not terribly knowledgeable about economics, nor are you very experienced at reading and understanding corporate financial statements, are you?

The fact that you’re not ought be reason enough for you to think twice before offering inordinately dumb comments which can only lead to further embarrassment.

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

let’s see. the oil companies have millions of acres leased that they won’t drill on. the gop wants to give them millions of acres more and that will entice them to drill.

Stupidest line ever stated on the topic! The GOP doesn’t want to give them anything you moron, they want to lease it to them. Those millions of acres they already have are parts of lease packages the oil companies have to bid on to get the sites that will produce oil. BTW, those oil comanies PAY for those leases whether they produce oil or not.

The second and third stupidest?

reality seems to be, the oil companies don’t care what the price of a barrel is. we seem to have enough oil and they are making tens of billions in profit. if they start drilling, that will cost them some of that billions in profits.

OIl companies don’t care what the price of oil is? Your parents let you leave the house unsupervised?

If they start drilling that’ll cost them some of their profits? That’s called reinvesting, something you’ve obviousy never heard of.

The only thing you said that was close to right was you aren’t a oilman. You’d be broke(r)(you’re probably teetering on the edge of bankruptcy right now if that’s your understanding of business) in 6 months if you tried to be. Stick to collecting welfare checks and leave business to business people.

So, Democrats want oil companies to drill for oil on land that has tested out as not having oil under it. Then they can point their bony fingers and screech"look, we CAN"T drill our way out of this dilemma”. How transparent.

Una Salus Victus Nullam Sperare Salutem