Domestic oil 25x more abundant than thought

I dont like payinh high il costs.

But look at Exxon Mobil from a business standpoint. They turned in these HUGE numbers, right? The highest profit they had in the last 4 quarters was 14%. The oher 3 were 10% or less. Averages out to around an 11% profit margin for the whole year. Not exactly breaking records.

We need to go after these bastrds in foreign lands charging o much for the crude. $140/barrel is absolutely absurd!
 
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Yeah, poor little patriotic oil industry. That bad Obama man is gonna make you share some of those absurdly high profits you turned. What is this world coming to when a CEO can't pocket $400K per day anymore?

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I'm afraid that it is gonna be poor little me and you. Do you actually think that if the oil industry has tax increases of 30 Billion dollars, gas is going to stay at $2.00 a gallon? The oil companies will pass their increased expenses on to the consumers, poor little us. Anyway, the point of the article is that all of these small companies that hire people and spend money will be, at worst, put out of business, which of course, means less money in the economy and more loss of jobs.
 
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I'm afraid that it is gonna be poor little me and you. Do you actually think that if the oil industry has tax increases of 30 Billion dollars, gas is going to stay at $2.00 a gallon? The oil companies will pass their increased expenses on to the consumers, poor little us. Anyway, the point of the article is that all of these small companies that hire people and spend money will be, at worst, put out of business, which of course, means less money in the economy and more loss of jobs.

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It's highly unikely gas will remain in the $2 realm for very long.

And as for the oil companies passing on the tax increase, they will... worldwide. We aren't the only one buying their products. So, I'll take that action over further lining of billionaire pockets.

Lot's of small companies are failing. The big business/big government environment assures that. So does the shredded economy... which was severely exacerbated when gas was $4.

I'm not for big government OR big business. Little business, local business, sustainable business, ethical and honorable business... that's what I'm for.
 
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Maybe I am getting one sided reports though? What am I missing?

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There is or was a lot going on there. It takes a lot of drilling to locate this oil...and expensive horizontal drilling at that. More expensive to produce, and now that the world spot price has collapsed, perhaps not very economic at the moment. Also, keep in mind, only one percent or so of the total Bakken's reserves are currently considered recoverable via today's technology.

This article gives a good perspective.

http://www.theoildrum.com/node/3868
 
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We need to go after these bastrds in foreign lands charging o much for the crude. $140/barrel is absolutely absurd!

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I think we should develop some energy policy that will keep the price more stable, instead of this $100 a barrell price swing. We should also move oil out of the spectulative markets. It seems like if there was an oil spill last summer, the price would shoot up $5.00 a barrell.
 
Just got done with eight years of oil's boys running the world, via America.

Exxon had a supertanker named Condi Rice.

There's hope now. Slim chance of making it, but a chance.
 
..or burning nations.

I'm thinking more along the lines not involving pricing, but more intelligent use. Ultimately, crude would be best served as a lubricant only, not a fuel or reagent.
 
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..or burning nations.

I'm thinking more along the lines not involving pricing, but more intelligent use. Ultimately, crude would be best served as a lubricant only, not a fuel or reagent.

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Thats twice ive agreed with you today! lets not make this a habit though.
 
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I think the palin comment was brilliant WIlt!!! She took on big oil in her state, and the douche bags in her own party!! change we can believe in yippeee!!!!!!!!!

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Tis true, very very true!
 
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I think the palin comment was brilliant WIlt!!! She took on big oil in her state, and the douche bags in her own party!! change we can believe in yippeee!!!!!!!!!

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Tis true, very very true!

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Plus she's a Milfy Arctic Huntress.


SZ
 
Why do I picture a yeast infection?

Big oil maybe she squeezed a bit, but they shot her a load of blanks. She's more into drilling than pumping, the crews on the rigs are her favorites, not the guys at the convenience store or in the boardroom.

Kind of funny though, Tina Fey was a hotter Sarah Palin than Sarah Palin is, what's that mean?
 
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Plus she's a Milfy Arctic Huntress.


SZ

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Grrrrrrowl... Milfy artic huntress... I'm gettin' hot just thinking about her, Tina Fey and me on a big cozy bearskin rug...
 
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Vote big oil and Jesus, draft Palin!

[/ QUOTE ] tell me bozo--what does this have to do with the topic at hand,except to please your leftist tendencies????????
 
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