Shooting Ourselves in the Foot on Oil

[Terrel L. Shields]

http://robertbryce.com/node/404

This is the full report of an article published this past weekend in the WSJ

We cannot try to crushthe oil companies while trying to wean ourselves off oil. Driving up the price of oil only drives up the price of alternatives. And these "tax breaks" have been around for over 80 years. It's no big deal to BP and Exxon... they don't drill that much here anyway. it is the small domestic drillers who are actually developing DOMESTIC oil reserves that will be hurt.

Ken Salazar has been the least competent weasel of a Secy of Interior we've had since James Watt.

 

[Mary Tiernan]

Very good article - and enlightening.

Corn costs increase due to the ethanol subsidies - this needs to be changed as it is hurting the American public pocketbook .

We get more than half our oil from Canada, yet unrest in the Middle East causes this increase? No, it is speculators again.

Where is the outrage? Where are all the big mouths now?

 

[Lloyd Bonafide]

Shooting ourselves in the foot

Also shooting ourselves in the heart and the head. The article doesn't even mention what a drop in domestic production does to the job market in the U.S., (that's those old-fashioned, dirty, good-paying jobs, not the $10-$12 per hour type.)

 

[Terrel L. Shields]

http://www.ogj.com/index/article-di...-approves_first.html?cmpid=EnlDailyMarch12011

The Gov just issued its first drilling permit in the deep Gulf... Do you think $3.35 gas had anything to do with it?

BTW, this is permission to let Noble re-enter a well that they were already drilling and was at 13,000' deep. They had to pull out of the well in April on orders from the MMS. The additional 300 plus days expense in rig time? Probably added at least $25 million to the cost of the well.

 

[Restrain]

The permit is due to the lawsuits invalidating the drilling moratorium. Govt is being dragged kicking and screaming back to allowing drilling, but they're doing it as slowly as possible. At the same time, they're trying to stop drilling through an investigation of fracking, air pollution, and pollution of the water table. Remember, per the govt, this is all factual, even when the facts don't support their assertion.

 

[AnonApprsr]

We should make coal powered cars and stop buying oil. Screw the planet, I want to be able to afford to keep my car moving.

 

[Terrel L. Shields]

We should make coal powered cars and stop buying oil.

how about a CHARcoal fired one?

 

[Lloyd Bonafide]

Obama now wants off-shore drilling greatly expanded (in Brazil).

http://www.investors.com/NewsAndAnalysis/Article/566719/201103211908/Obama-Drill-Brazil-Drill.htm

 

[Terrel L. Shields]

Obama, Brazil...the missing name? George Soros...just helping out his old bud...

http://sweetness-light.com/archive/soros-invests-811m-in-brazilian-oil

 

[Lawrence R.]

One day we will meet the choke price for oil. But it is a long, long, long way off. Nothing the gov't has done thus far has put us one day closer to that day, and likely never will.

Contrary to belief, we cannot control the whole world.