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Originally posted by David9176
reply to post by ThirdEyeofHorus
She would get the ball rolling on drilling in the gulf instead of the ridiculous moratorium Barry put on to appease his base while giving tax dollars to Brazil to drill in the gulf.
WRONG.
30-40 percent of oil costs right now are based on wall street speculation...and that's coming from the EXXON MOBIL CEO. THAT HAS NOTHING TO DOW WITH CURRENT SUPPLY OR DEMAND. It's all speculative based on what the supply/demand "might" be in the future. It's a rigged game.
Supply is fine right now. Drilling MORE in the gulf will not do much to lower prices...it might make speculators drop the price of oil for a day or 2...but it would be shortlived.edit on 27-5-2011 by David9176 because: (no reason given)
The United States oil giant Chevron announced last week that it has discovered an enormous treasure that dates back to the Eocene period. The amount of oil and natural gas discovered may be as much as 15 billion barrels. If that estimate is correct, then US oil reserves have increased by 50 percent overnight.
Many analysts were delighted. The value of Chevron's shares increased –- and the price of oil fell. "That's great news for the corporation, for industry and for the nation," a banker at the Oppenheimer & Co. investment firm cheered, calling the discovery a "jackpot."
But there's another reason why this discovery is truly special: The oil reserve, called Jack 2, was found about 400 kilometers (250 miles) southwest of New Orleans. It lies one level below all the other oil reserves that are currently being tapped in the Gulf of Mexico
Originally posted by aCurious1
I so very much look forward to seeing Obama debate Palin.
You don't think it will make us less dependent on foreign oil?
Originally posted by kellynap43
Point being in the initial conversation, is that yes, she makes some dumb remarks, but Obama has his fair share too. As previously pointed out.
The one party scam works because American voters have been conditioned to respond to style rather than substantive policy issues, to the acceptance of simplistic diagnoses of complex issues rather than detailed and thoughtful analyses, and to a preference for negative political advertisements rather than rational discussions of meaningful issues. Soaring campaign rhetoric and bold promises to the contrary, political observers have noted the similarities in McCain's and Obama's policy positions, and their differences can only be discussed as matters of degree or semantics. It is indeed all sound and fury signifying nothing.
www.opednews.com...
Originally posted by David9176
reply to post by ThirdEyeofHorus
You don't think it will make us less dependent on foreign oil?
Nope. End wall street speculation on oil futures and prices drop up to 40 percent. Btw...for anyone who does not know...CLINTON is responsible for this. This wasn't allowed before 1990. (can't remember the exact year htis was passed)
I don't know where you are getting your information from...it sounds like Fox News or Conservative radio....I'd quit. And no, i'm not telling you to start watching MSNBC in it's place.edit on 27-5-2011 by David9176 because: (no reason given)
6. He has given our public money to a foreign state to finance their state-run oil company while refusing to allow us to develop our own oil resources.
Obama financed a Brazilian oil company using public tax money to search for foreign oil in Brazil. The company, Brazil-owned Petrobras, was a wealthy state run company, perfectly capable of doing the search itself. This was effectively a gift of US tax money to the investors in the company and its owner. At the same time we have plenty of oil in the US to search for and produce, especially in Alaska, and yet Obama denies us the right to develop our own oil resources.[6][7]
www.examiner.com...
Obama to Brazil: we will buy your oil after giving you $2 billion to drill it
President Obama in a speech down in Brazil on March 19th told local businessmen in the nation state that the US is looking forward to being their best customer in buying oil from their offshore drilling. This policy to purchase more foreign oil comes after we invested over $2 Billion with Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro.
In this new policy, President Obama is promoting an offshore drilling partnership with Brazil, while at the same time placing moratoriums against US companies drilling in our own waters. This means jobs will be created in Brazil, and many American workers in the oil industry will move into the ranks of the unemployed.
Secondly, the US in 2007 alone imported over 3.66 billion barrels of oil, which at todays price of $103.74 per barrel, means a cost of nearly $380 Billion dollars exported out of the economy to foreign countries. With our trade deficit running over half a trillion dollars each year, this will only add to the cost of goods bought by US consumers in the future.
In 2009 when President Obama loaned $2 Billion dollars to the Brazilian nation oil company, there was alot of outrage by the American people over our spending taxpayer funds to develop infrastructure and production in a foreign country, while at the same time not addressing our own energy needs. With Obama's trip to Brazil, and the speech given over the weekend, we now know the full extent of why the money was lent to Brazil, and in essense, why we gave them cash so in the end we could buy their goods.
With the President's speech in Brazil, and the revealing of a new energy policy that contricts his moratorium on the dangers of offshore drilling, the American people and our economy will in the future become much more dependent on foreign oil, and lose out on jobs and economic production through the drilling and sale of our own resources.
High gasoline prices are not a cause of the current economic recession, they are an avoidable and unnecessary symptom of liberal environmental and economic policies. When President Barack Obama took office the price of gasoline was $1.83 per gallon. Today it’s over $4.00. Understanding why that is so will give you insight into the patient game plan of the fossil-fuel-hating, combustion-engine-despising, environmentally obsessed left.
The high price of gas is not simply a function of the cost of crude oil. There are many causes for the $4.00 we are currently paying for a gallon of gasoline. Of that $4.00, taxes account for 52 cents, distribution and marketing about 32 cents, refining 56 cents, and the cost of crude oil $2.60. By the mid-20th century, oil was surpassed only by income taxes as the largest generator of revenue for the U.S. government.
Clearly, the biggest portion of the $4.00 you pay goes to the crude oil suppliers. This is where supply and demand takes over. The price of crude oil is determined by the world’s oil-exporting nations, particularly the Organization of Petroleum Exporting Countries (OPEC). OPEC is responsible for over 40% of the world’s crude production. In 2001, when OPEC reduced its production by 1 million barrels a day, gas prices in the U.S. skyrocketed to $1.71 per gallon. When it increased its production in 2005, gas prices dropped.
The United States is actually the third-largest producer of crude oil in the world, but we still import nearly 40% of our crude oil demand, mainly from Canada, Mexico, Saudi Arabia, Nigeria, and Venezuela. But here is where life becomes quite simple. The more crude oil we produce domestically, the less taxes we heap on a gallon of gasoline, the fewer hurdles and blends we require of domestic manufacturers, the less we pay for gasoline. U.S. domestic oil production peaked way back in 1970, and by 2005, imports were twice that of domestically produced crude oil.
Increasing domestic exploration, drilling, and production is the simple solution to what we are paying at the pump. Yet our president has repeatedly misled us by alleging that there is no “silver bullet” for lowering gas prices. What the Obama administration and his liberal machine have been doing is just the opposite — and it is beginning to look intentional.
President Obama follows the liberal playbook about energy independence — code for wind and solar energy which won’t fuel our automobiles, jets, ships, or the war machines he has sent into Libya. He misleads the American people about ethanol leading to energy independence. It can’t and won’t. Ethanol is not economically competitive. Corn ethanol costs an average of $2.53 to produce – several times the 56 cents it costs to produce a gallon of gasoline. Instead, ethanol simply raises the price of gasoline we pay at the pump.
At its closest, the American mainland and the Russian mainland are 55
miles apart where Alaska’s Seward Peninsula and Russia’s Chukotka Peninsula reach out to each other.
Originally posted by kellynap43
Who should be president? He will never run again, but I like Steve Forbes. That man breathes success.
Last week an agitated Chris Matthews tried to hold Dick Cheney accountable for the oil spill in the Gulf of Mexico, and this week Matthews is demanding action from President Obama, as the Hardball host pushed the President to nationalize the oil industry to solve the problem. On Monday's Hardball a visibly angry Matthews demanded Obama go after BP: "Why doesn't the President go in there, nationalize an industry and get the job done for the people?" and pointed out that in China they would have a much harsher response to BP: "They execute people for this. Major industrial leaders that commit crimes like this."
Matthews even took aim at the entire capitalist system, as over video of the oil slick, he sarcastically mocked: "Everybody says 'Capitalism is great. Unbridled free enterprise is great.' Look at it! This is great, isn't it?!"
Originally posted by David9176
reply to post by ThirdEyeofHorus
THE CEO OF EXXON MOBIL SAID OIL SPECULATION IS THE CAUSE FOR UP TO 40 PERCENT OF GAS PRICES. Did you not read that in my post?????
Are you saying he is a liberal socialist progressive????????????? His company made BILLIONS the last 3 months.
LOOK IT UP IF YOU DON'T BELIEVE ME.
He said it in front of Congress last week.
PROVE ME WRONG
What about Palin getting Alaskans residents check from oil companies? IS THAT A LIE LIBERAL LIE TOO???
Isn't that Socialism???edit on 27-5-2011 by David9176 because: (no reason given)
Originally posted by David9176
reply to post by ThirdEyeofHorus
THE CEO OF EXXON MOBIL SAID OIL SPECULATION IS THE CAUSE FOR UP TO 40 PERCENT OF GAS PRICES. Did you not read that in my post?????
Are you saying he is a liberal socialist progressive????????????? His company made BILLIONS the last 3 months.
LOOK IT UP IF YOU DON'T BELIEVE ME.
He said it in front of Congress last week.
PROVE ME WRONG
What about Palin getting Alaskans residents check from oil companies? IS THAT A LIE LIBERAL LIE TOO???
Isn't that Socialism???edit on 27-5-2011 by David9176 because: (no reason given)
.
It is all part of an effort by Democrats to push a new bill that would scrap tax breaks for the five companies, the biggest and most profitable ones in the country. Democrats want to cut about $2 billion per year in tax subsidies for the companies and use the savings to pay down the nation's soaring federal deficit.