The funniest part of this latest piece of Dem propaganda is that it concedes the supply point, while attempting to blame it on the oil companies(while ignoring the maze of enviro regulations) for not developing our resources. Now, this is after thirty years of them preventing us from developing our own supplies.
It is a staple of socialist anti-business propaganda to insist that sellers purposely restrict supply to raise the price(even though the numbers never work out that way for real businesses), when it is really govt that does that very thing.
In the real world,if you want record profits, you have to make record sales. Restricting supply in a competitive market simply makes you less successful.
robert108 - 07:06am on 06/23/2008
Contrary to what liberals would have you believe, drilling for oil does not merely consist of putting a hole in the ground and waiting for oil to bubble up through it.
Clearly you’ve never watched the Beverly Hillbillies. Liberals have, and that is why they’re smarter than us.
kbiel - 08:06am on 06/23/2008
Clearly you’ve never watched the Beverly Hillbillies. Liberals have, and that is why they’re smarter than us.
That would also explain why the anti-oil drilling liberals are for stricter gun control!
Proof - 08:06am on 06/23/2008
That would also explain why the anti-oil drilling liberals are for stricter gun control!
It all FITS! lol
golfmann - 09:06am on 06/23/2008
Businesses, including huge, global oil companies, have to live within the constraints of their operating budget… a concept obviously well beyond the comprehension of economics-illiterate liberals. Most rational persons can recognize the advisability of tying up desirable potential locations with long-term leases, but those leaseholds can only be explored and exploited systematically as the operating funds are available.
Seems to me there is also room for a modified chicken hawk argument here. Since liberals clearly know next to nothing about economics or running a business they probably should just shut up on those matters instead of publicizing their ignorance with their witless commentary.
Bat One - 12:06pm on 06/23/2008
Big, verified supplies of oil.
Well, if “Big Oil” paid millions of dollars for oil leases that turned out to be dry holes, how can they be positive that the new oil locations aren’t dry holes as well? I think the answer is “they can’t”
Also, If big oil were interested in investing in production, they would not be giving record dividends to stock holders. It is time for a little “anti-trust” action against big oil and see if that shakes things up.
BothPartiesStink - 01:06pm on 06/23/2008
I think the answer is “they can’t”
Wrong. The definition of “investment"is the putting of capital at risk to produce a greater return. Do you understand the concept of “risk”?
Also, If big oil were interested in investing in production, they would not be giving record dividends to stock holders. They aren’t. A record volume of profit is not the same thing as an increase in profit “margin”. It is time for a little “anti-trust” action against big oil and see if that shakes things up. In fact, it was the Sherman AntiTrust Act that gave us the big corporations we have today.
You know nothing.
robert108 - 01:06pm on 06/23/2008
If big oil were interested in investing in production, they would not be giving record dividends to stock holders.
Not much on corporate finance and free market capitalism, are you?
Bat One - 01:06pm on 06/23/2008
I am all in favor of capitalism and profits. However, If your press is that “Oil companies are doing all they can and the evil leftie liberals are standing in the way”. Then:
B) The large dividend plus the untapped reserves just confirm in mind that Oil companies are more interested in filling the pockets of their investors than solving the oil crisis.
BothPartiesStink - 08:06am on 06/24/2008
BPS: Your conclusions don’t flow from your premises; you don’t know what you’re talking about.
Govt regulations have been restricting supply for over thirty years, with the entirely predictable result: today’s gas prices. It’s really very simple. The actions of the oil industry are determined by the distortions introduced into the energy market by govt regulations and tax policies.
The funniest part of this latest piece of Dem propaganda is that it concedes the supply point, while attempting to blame it on the oil companies(while ignoring the maze of enviro regulations) for not developing our resources. Now, this is after thirty years of them preventing us from developing our own supplies.
It is a staple of socialist anti-business propaganda to insist that sellers purposely restrict supply to raise the price(even though the numbers never work out that way for real businesses), when it is really govt that does that very thing.
In the real world,if you want record profits, you have to make record sales. Restricting supply in a competitive market simply makes you less successful.
Clearly you’ve never watched the Beverly Hillbillies. Liberals have, and that is why they’re smarter than us.
That would also explain why the anti-oil drilling liberals are for stricter gun control!
Businesses, including huge, global oil companies, have to live within the constraints of their operating budget… a concept obviously well beyond the comprehension of economics-illiterate liberals. Most rational persons can recognize the advisability of tying up desirable potential locations with long-term leases, but those leaseholds can only be explored and exploited systematically as the operating funds are available.
Seems to me there is also room for a modified chicken hawk argument here. Since liberals clearly know next to nothing about economics or running a business they probably should just shut up on those matters instead of publicizing their ignorance with their witless commentary.
Well, if “Big Oil” paid millions of dollars for oil leases that turned out to be dry holes, how can they be positive that the new oil locations aren’t dry holes as well? I think the answer is “they can’t”
Also, If big oil were interested in investing in production, they would not be giving record dividends to stock holders. It is time for a little “anti-trust” action against big oil and see if that shakes things up.
Wrong. The definition of “investment"is the putting of capital at risk to produce a greater return. Do you understand the concept of “risk”?
You know nothing.
Not much on corporate finance and free market capitalism, are you?
I am all in favor of capitalism and profits. However, If your press is that “Oil companies are doing all they can and the evil leftie liberals are standing in the way”. Then:
A) Oil companies would have Zero unexplored/undeveloped reserves. Which is not true Exxon is not developing some of their Alaska leases.
B) The large dividend plus the untapped reserves just confirm in mind that Oil companies are more interested in filling the pockets of their investors than solving the oil crisis.
BPS: Your conclusions don’t flow from your premises; you don’t know what you’re talking about.
Govt regulations have been restricting supply for over thirty years, with the entirely predictable result: today’s gas prices. It’s really very simple. The actions of the oil industry are determined by the distortions introduced into the energy market by govt regulations and tax policies.