Comments on: Turning Around the Oil Weapon

By: flippityflopitty

flippityflopitty — Tue, 15 Aug 2006 04:49:00 +0000

$5/gal tax? Who are you, Jimmy Carter?

I was leaning towards $1/gallon and pinning it to a raise in the tax ceiling from $10k to $15-20K for a net loss to govt coffers of $0. Let the consumer make the change without feeling it (directly).

FF for Congress in '06!

By: Tanstaafl

Tanstaafl — Thu, 10 Aug 2006 10:54:00 +0000

$5/gal tax. Use it to fund the transition to alternatives.

And drill. If the BP loss causes such a problem how can anyone argue against tapping larger deposits like in Florida or ANWR? Except for Luddites of course.

By: flippityflopitty

flippityflopitty — Thu, 10 Aug 2006 04:02:00 +0000

Sniffle, sniffle...
The oil companies are suffering with record profits and obviously the US govt is not doing enough to maximize their volume and secure Big Oil's future for another 100 years. Maybe we should reduce our royalties to those reserves on federal lands so the oil companies can squeak a little more profit out.
Wah, waaaah....
Now were running out of viable oil reserves, existing reserves are tapping out, more wild cat drilling is yielding little hope.
...and evil Hugo Chavez is taking bigger cuts out of the multi-national oil companies... in fact he is basically forcing them out with his leftist, nationalist ideaology. He doesnt play fair!!!

Its Dickie to the rescue - just drill, drill, drill our way to independence.

Domestic drilling programs will do dick to the problem. They will put more oil on the back end and the cost will continue to skyrocket.

What we need is a real energy policy. One that sets alternative and renewable energy at the forefront of our energy production within the next decade. The leadership is frozen by Big Oil (and I dont just mean Bush & Co) - no one has the balls to move the US away from fossil fuels.

So when the Chinese are drilling off Cuba, the govt answer will be to drill off florida. Problem solved.

Next?

By: Tanstaafl

Tanstaafl — Wed, 09 Aug 2006 15:31:00 +0000

Maybe now those who oppose domestic drilling will change their position. But I'm not holding my breath.

Oil Companies' Investment Exceeds Profits:

Over the same time span, however, the companies spent even more than they earned -- $550 billion -- on oil exploration and development. Some of them went deeply into debt to finance new ventures, especially during times of lean profits.

Despite the massive sums of money oil companies spent trying to find more oil for the world's fuel-thirsty consumers, returns on investment over the past 10 years declined sharply because most existing oil fields in the West are in decline and the most promising new discoveries are not available for development, Ernst & Young found.

"Most of the new reserves are outside of North America, and much of the global reserve base is off-limits to Western oil and gas companies," said Mr. Swanson. Moreover, oil-rich countries such as Venezuela and Russia are exacting onerous licensing terms and costly royalty payments from Western companies seeking access.

By: flippityflopitty

flippityflopitty — Mon, 07 Aug 2006 20:17:00 +0000

Get off the oil!

Now BP shuts down Prudhoe Bay!?

Wall Street is surprised and prices spike!?

Hello? BP is planning on replacing 73% of the pipeline and this is a surprise?!?

What no heads-up? Whose side are they on? oh, yeah... their side.

I guess Hugo and Mohammed will have some new, shiny chinese rockets before year's end.