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StLCardsFan

join:2011-06-06
Lafayette, LA

1 recommendation

reply to FFH

Re: Gas prices going up fastest ever for this time of year

and this administration continues to add more red tape to any meaningful exploration and development of our own natural resources.

Not that I mind sending our wealth to the middle east ... id just rather spend it at home is all.



KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK

You are mistaken. Oil development continues at a frenetic pace. Check out the boom in the Dakotas, for example.

The thing is, it doesn't matter how much more production we bring online, they are not going to give it away any cheaper then they can get for it on the world market, AND thanks to speculators, the "demand" can always outstrip supply, no matter how much it's expanding.

I've been reading reports that say the US may rise again as an oil superpower, but there's no reports of prices dropping to past levels!
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini

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StLCardsFan

join:2011-06-06
Lafayette, LA
Reviews:
·LUS Fiber

4 edits

1 recommendation

reply to KrK

Re: Gas prices going up fastest ever for this time of year

You are mistaken. Can you point me to the number of new off-shore rigs working on the east coast ..or even on the gulf coast of Florida?

How about in Alaska?

The frenetic pace you refer to is for natural gas ... and government agencies of those states in the NE are fighting tooth and nail to have it stopped (Think NY, Pennsylvania, Maryland, or pretty much all of Appalachia).

The only oil reserves that will make a dent are in Alaska and on our coasts ... including the WEST AND EAST COAST.

Then you can add that there aren't any new gasoline refineries ... and really haven't built any since the 70's. Another problem is that refineries are running at full capacity...and have been for more than a decade.

Add that with a superhighway keystone pipeline being thrown under the bus by this administration (seems Canadian oil is better option than Middle Eastern oil)...and there is no end in sight to increase supplies.

You can't will energy prices lower because its the right thing to do. Like it or not ... oil has a global demand... and when you are not producing it at home you are forced to buy it on the global market in competition with other countries such as China. And when you have a government that is unwilling to make the necessary policy changes to keep our standard of living and way of life the way it is ... you can only blame the policy and the policy makers (insert president name here).

Lastly, I wonder how 4-5 dollar/gallon gas will help unemployment? I'm sure it will do wonders for it huh?



FFH
Premium
join:2002-03-03
Tavistock NJ
kudos:5

said by StLCardsFan:

You are mistaken. Can you point me to the number of new off-shore rigs working on the east coast ..or even on the gulf coast of Florida?

How about in Alaska?

The frenetic pace you refer to is for natural gas ... and government agencies of those states in the NE are fighting tooth and nail to have it stopped (Think NY, Pennsylvania, Maryland, or pretty much all of Appalachia).

And in Phila, PA area, they are permanently closing 3 refineries that make gasoline. Wonder why gas prices are rising?
»www.bloomberg.com/news/2012-02-1···ies.html
--
The nine most terrifying words in the English language are, I'm from the government and I'm here to help.
»www.politico.com/2012-election/

Expand your moderator at work


KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
reply to StLCardsFan

Re: Gas prices going up fastest ever for this time of year

Nope, it's not just natural gas, oil is going crazy. Natural gas also isoverinflated.

... and you're missing the point. It doesn't matter how much extra production we bring online--- they're not going to sell it to us any cheaper.
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini



KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
reply to FFH

Supply is very closely managed. Honestly, when you get right down to it, why would someone spend millions building new refineries, which might cause a drop in prices, when they can make more money by keeping supplies tight and profiting?

Fuel demand is at 1997 levels currently. There's no real shortage.
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini


StLCardsFan

join:2011-06-06
Lafayette, LA
Reviews:
·LUS Fiber

said by KrK:

Supply is very closely managed. Honestly, when you get right down to it, why would someone spend millions building new refineries, which might cause a drop in prices, when they can make more money by keeping supplies tight and profiting?

Fuel demand is at 1997 levels currently. There's no real shortage.

Conspiracy theories are splendid. You have not accounted for the rest of the worlds consumption of petroleum. Prices are high because crude oil is over $100 a barrel. Why is it high when our consumption is apparently at 97 levels? We are using 18million barrels daily and China is using 9million barrels daily compared to say 2 million in 97. I haven't gotten into India, Africa, or even Malaysia.

The US is only producing 2 million barrels daily.

Like it or not ..oil companies do not own most of the oil they process here in the States. Out of the 18million processed only 2 million of those originate from here. They are forced to buy it on the open market.

The lions share of the profits still go to the producing countries (like always). The only way to make a dent in prices here at home is to drastically reduce oil imports with domestic production.

Any civilization in history has collapsed when they have failed to exploit their own natural resources.

Lastly, oil companies are allowed to make a profit. They are not making more per barrel than before ... they are simply processing more and selling more than before due to other parts of the world modernizing and needing fuel to grow their economies.

Personally ... i think The US should have drills out on every available piece of land with petroleum. National parks ...oceans, beaches, wetlands, mountains...ect. Ill trade some caribou and some lizards in if it means we as a country can get back on track.


KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK

What conspiracy theory? Oh, and you do realize you just shot your other argument out of the water with your Global argument, right?
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini


StLCardsFan

join:2011-06-06
Lafayette, LA
Reviews:
·LUS Fiber

uh no. I work in the petroleum exploration and development sector and see first hand what is going on. Maybe you don't understand?

In reality the US needs to be able to produce at least half of our own consumption to bring any meaningful change to pricing. Until that happens (which would require drilling on federal and state lands that are currently off-limits) energy prices will continue to skyrocket.

To summarize: If North America can produce its own oil it's prices can be manipulated to suit our own security.



KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK

It would never happen. No amount of increased drilling everywhere in the USA would create enough of a glut worldwide to significantly improve prices, especially as it's being demonstrated that prices don't reflect reality anyway.

The only way we're going to get around this is to stop burning so much of it as fuel and save it for the things it's really good for. We will keep expanding production, but it won't affect prices.

A significant price shift would occur if regulations on speculating were tightened up to reflect real world conditions.
--
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini