Increase Oil Drilling for Lower Gas Prices

[Hawnjigs]

Several presidential candidates blaming the current CEO for high gas prices have offered this solution. Here is an article from one of candidate's home state major news reporting services.

http://www.bostonglobe.com/news/nat...-gas-prices/4F1540zDGa8eawUsvyITeN/story.html

 

[SaltyBuckster]

It's all a bunch of crap.These government people get thier money and gas,probably for free,just for pulling for Big Oil.They don't care about anybody but themselves.JMHO

 

[Shoemoo]

The price of oil is set by the global market. So if political instability or a natural disaster affects oil production in other countries, the price on American oil skyrockets along with the rest. If there's a sudden increase in demand and refineries in foreign countries are willing to pay more, American oil goes overseas. Just because it's produced here doesn't mean it will be used here.

To top it off, oil is used for many other things besides making gasoline. Other fuels like deisel and heating oil, as well as manufacturing plastics, synthetic fibers and other things. So yeah, more drilling does not necessarily mean lower prices at the pump.

 

[papaperch]

Oil is just like any other commodity. The more available it is the lower the price. Any situation that causes the supply to decrease causes a reflective rise in price. The situation does NOT have to be real. It only has to be seen as a possibility by the speculators.

I agree with the proponents of more drilling. While one may be able to give reasons why it might not help. No one can give any reasons why more drilling would cause the price to go up.

The EPA and " global warming / climate change " group hates all forms of energy production except if that production occurs in a another country.

The last big surge in gas/oil pricing was checked by the threat of America opening her resources to their full potential. Can anyone imagine what would happen to wheat prices if the agriculture in the U.S. was subjected to a limit of say 30 % of its normally yearly harvest ? What would happen if America founded a WPEC. You know a Wheat Producing Export Countries. Think it could do for wheat pricing what OPEC has done for oil ?

Common sense in America has been on vacation for too long. Discussing politics has to come out of the closet. As long as it remains a " forbidden " topic to debate about ,the ignorance of important issues will grow. The " politically correct " faction has been bent upon stifling one freedom after another.

I hold out for discussion. If the liberal left of the Democratic Party has all the solutions. Why is California in such financial trouble ? In fact the two most Liberal states NY and California are both in financial ruin. Look at their economical down slide. Nationally the Democrats held a super majority in the House and the Senate for two years. They could have passed anything they wanted. The Republicans could stop nothing they did not have enough votes. During this time frame the Senate never even passed a budget.

In summation , oil is not a magical commodity , it will follow the laws of supply and demand. Nations that caved to OPEC are paying the price now. When other countries ( United States ) politically cripple production prices will go up. As more economies continue to grow the demand will follow an upward trend as will the prices if production remains stagnant or falls. I fail to see how hamstringing the the oil companies here in the U.S. is going to help anything. I came home in 1973 just in time to participate in gas lines and " shortages " which were as contrived then as they are now. We have to quit mollifying these two bit countries who are black mailing us with black gold.

When we quit sending Americans to die for people who hate us to fight for their liberation. So they can quickly form a government that opposes everything we stand for. Then and only then will I say common sense is making a comeback here in the U.S. An actual balanced budget for our Federal Government would also be a huge step.

 

[Shoemoo]

I don't have a problem with more drilling as long as it doesn't happen in environmentally sensitive areas, because a major spill would be catastrophic. There are people that say there was no permanent damage to the Gulf, but I think it's too early to say that. Prince William Sound still had not fully recovered from the Exxon Valdez spill.

What I do have a problem with is politicians, and lets face it they're mostly Republican, selling drilling on the lies that it will reduce gas prices or keep prices from increasing. Not 'may' or 'it won't cause them to go up' but telling people that drilling will save them money at the pump.

Oil is not in unlimited supply. It will run out eventually. I think the best solution is to use it while we have to, but work toward other energy solutions that are more sustainable and environmentally friendly.

Also, the Republicans never managed to balance the budget under Bush either. They just act like they're fiscally responsible while spending money as badly as the Democrats. Except they spent it on pointless wars while giving tax breaks to their rich corporate buddies while throwing the middle class and poor a few crumbs.

 

[Radtexan]

Well said Papa !!!

Its not just our lack of production,or S & D that drives the cost up,but all the little add on's that get ya...

Since your researching all this Hawn,what do your sources say the the average cost of taxes per gallon might add up to ?

 

[Hawnjigs]

Actually, taxation impacts on the cost of gas is beyond my concern or curiosity. Alls I know is that my cost is generally $.80 - $1.00 more than you mainland guys - whether due to state taxes, trans costs, profiteering, nothing I can do about it.

Its sad that the 99% of US are divided by party affiliations, due to an issue or issues that we feel strongly enuf about that we have to accept or reject the whole agenda of a side. So, while I believe in the "conservative" philosophy of minimizing governmental intrusion and wasteful spending, I cannot support a POS MF who considers bleeding assets from companies till they bankrupt "free enterprise". So, after ruining the lives of the workers he wants to further cut support to these less fortunate so he and his fellow vultures can enjoy bigger tax cuts? Yes, I realize that under the current administration gas prices are peaking, Solyndra crashed, Wall St. crooks got a free ride, and our CEO is an N-word, but still, I cannot understand how what I observe as the worst possible excuse for a human being can actually be considered for our highest office.

 

[Shoemoo]

Politicians have very little to do with the price of oil or gas. Remember, both were at record highs about a year before the housing bust. Then the economy took a dump and the speculators dropped out, which sent prices into free fall. It was pretty much the only good thing about the economic downturn. Around here we hit $2.25 a gallon. I had't seen prices that low since the 90s. Now the speculators are back again and the prices go up every time a camel farts over in the Middle East.

 

[Shoemoo]

Well said Papa !!!

Its not just our lack of production,or S & D that drives the cost up,but all the little add on's that get ya...

Since your researching all this Hawn,what do your sources say the the average cost of taxes per gallon might add up to ?

The federal tax is 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. All states have their own local taxes on top of that.

http://www.bankrate.com/finance/taxes/gas-taxes-by-state.aspx

 

[Shoemoo]

I cannot remember the last time i saw it for under $3.50 a gallon in my area getting close now at $3.63 a gallon.... $2.25 would be a welcome site here.... lol

It would be a welcome sight around here too. It slowly crept up to $3 a gallon until February, when the business with Iran and Syria made prices go nuts. It went up by something like 40 cents a gallon in one month. I was afraid to look at the prices at the local gas station.

Now it's sitting at $3.77 and I figure it costs me over $12 to make the trip to my favorite fishing spot.

 

[papaperch]

Sorry to see so many people hate the rich. I am personally not rich far from it. But I worked for rich people my whole life. Some were " venture capitalists " who shocking as it might seem risked their own money instead of government money. I guess its ok to shut down factories and lay off workers and go bankrupt if it is done with our money. Solyndra has proven to be just the tip of the iceberg. Guess its ok though if you contribute heavily to the right election campaign. Speaking of the housing bust which party spawned the Fannie Mae and Freddie Mac on the long suffering public ? They were based on the premise that " yes you can make loans to people who cannot afford them. "

Twenty years ago I would have never considered that Karl Marx's strategy would ever take root here in the USA. But it seems to be growing at an alarming rate. Taking into account that socialism or communism has a very poor track record in producing freedom or prosperity anywhere in the world. Many of our own people forget that the communist countries had to erect fences and walls to keep their own people in. Many East Germans were killed trying to flee into the West. Never read of one West German trying to flee to the East. Look at N. Korea and S. Korea. The communist North cannot even feed its own people. The South is a economical giant for its size. Even the most stalwart communists ( Red Chinese ) are using capitalism to make their country prosperous.

When a politician cannot run on his record he has to divert the voting public's attention. Class envy has always been an effective weapon. Racism is even being employed as a tool. President Obama is trying to divide and conquer. I have no problem with the color of his skin. Where the problem lies is with his failures. His huge economical stimulus plan did nothing to stimulate anything. There are now more American on food stamps then ever before. There are more children living at poverty levels then ever before. Yet he wants to double down on the things that have not worked before. If any of you had a man that ran your business like he has run this country. He would have been fired long before 4 years.

I hate to pick on Detroit Michigan but facts are facts. I don't think anyone can remember the last time a Republican got elected to anything there. It has long been a bastion of Liberal democrats. So they have been in full control since I can remember. Take a drive thru that town and see what a liberal paradise looks like. Portions of it look like Berlin at the end of WWII. Cleveland Ohio a place 50 miles from me in my home state does not look much better. It is also a bed rock place of liberalism. Since no one wanted to respond to how well states that are liberal and in dire financial stress I figured I would try cities. Even I got a chuckle out of California re-electing Brown to run the mess its mired in. Talk about doubling down on a failure.

If the majority of Americans feel that unfettered liberalism is the answer this fall. Then I will see a lot of you in our community soup lines. I won't have a choice I will be hungry too.

 

[Hawnjigs]

Wealth honestly earned is admirable. I personally do not begrudge or envy those of such achievement. Our "capitalist" economic model allows upward economic mobility not only to entrepreneurs of integrity, but greedy parasites who have no compunction about victimizing others. Yes, our present economic crisis can be attributed to deregulated financial institutions using depositors money to make risky loans, then packaging them as credit derivatives with faked ratings which liability was passed on to Fannie, Freddy, and private investors like pension funds. The collusion between big financial institutions, AIG, ratings agencies, and lax Fed oversight created a "too big to fail" monstrosity that required a massive taxpayer funded bailout to arguably prevent a total collapse of not only the USA but world economy. Ground zero has pointed to Wall St., but ultimately the root of the collapse can be attributed to the greed of a few in postions of decision, and their unbridled freedom to commit unethical and illegal acts. My understanding of details might be inadequate due to time constraints. No disrespect, but I consider accusative generalities like "communism" & "socialism" political smokescreen.

Standing on records, I think it is important to consider the CEO candidates contributions sources as posted in another thread. Notable is that the top contributors to one candidate are bailed out Wall St. firms absent as donors to the other. Follow the money. Our next election CEO choice may not matter because there is a reported 56 trillion $ worth of derivatives which default failure would be beyond fixing.

 

[papaperch]

Communism and socialism are not political smokescreens. They are failed forms of government and socio-economic
systems. I have had the wonderful fortune of knowing some recent immigrants form eastern Europe that have actually lived under these forms of government. They are stunned when they hear American citizens propose one of these as a solution to our problems. They ask me don't they know our history in Eastern Europe we came here to escape that nonsense. I had to reply quite a few of our citizens do not know our own history let alone Eastern Europe's.

When you hear Obama say we have to " share the wealth " what does that mean to you ? In a capitalist system there are going to be failures as well as successes. Where our government does harm is when it tries to prevent failure. In other words it tries to pick the winners and losers. Instead of letting the free market decide. I also shudder when I hear President Obama believe that a college education for everyone is the answer. A lot of our children have no interest in high school let alone college. Not everyone is capable of attaining a college degree. Simple matters like this and others show a disconnect from common sense on President Obamas part. Like his solution for oil problem " More frequent tune ups and correct air pressure in our tires . " Since his staff is as disconnected he is no one prevented from uttering this nonsense.

If you want to read something that might make a little sense to you. Read about the " progressive " movement in the United States political fabric. While the word progress is universally considered a positive term it is anything but in this particular case.

More and bigger government is never the answer. While sometimes it is hard to tell the difference in republicans and democrats there is enough of a difference in the right people. But it takes time and requires one to do their own research instead of being fed pap from our news sources.

 

[JSC]

I was mot going to get into this but ... I agree With papaperch .. there is more to add but will leave it as it is except .. you can trace a big part of this not to wall street and major banks or "big money" but to some in Government, Agencies (Freddie Mac & etc.) forceing them into these foolish loans ... you can find who made the money easier than I can spell it out here ... After you get my age (not old just getting older) you see a lot of the predictions. from people who were called radical, alarmist, extreme right wing & etc., come true. It is really scarey.

Off Of Soap Box

 

[Shoemoo]

Sorry to see so many people hate the rich.

I do not hate the rich. There's nothing wrong with earning wealth ethically and legally. I admire rich people who worked for their money and made it the smart and legal way. I do hate those who get rich unethically at the expense of others. Was it right what happened to the folks at Enron? A few people at the top cooked the books, gutted the company and made out like bandits while investors and employees were left with nothing. Is that something we should applaude?

Twenty years ago I would have never considered that Karl Marx's strategy would ever take root here in the USA. But it seems to be growing at an alarming rate. Taking into account that socialism or communism has a very poor track record in producing freedom or prosperity anywhere in the world.

The terms communist and socialist are not the same thing. The US has about as much chance of turning communist as I have of flapping my arms and flying to the moon, but many of the democratic countries in Europe have some level of socialism and they get along just fine. Personally, I'd like to see some form of universal healthcare like Canada or some of the European countries have so people without health insurance don't face financial ruin should they get seriously ill or have an accident. But considering how many people rail against government getting involved with health care, I guess they're OK with the working poor and unemployed being saddled with crushing debt or risking possible death.

I knew a guy at my old job who slipped on an icy pavement and broke his leg with a compound fracture. He was working (it was before he started working where I was,) but the job didn't offer health insurance. One of the bone fragments broke the skin and severed an artery and he nearly bled to death. He ended up with a $50,000 hospital bill, lost his job, and had to declare bankruptcy. But he was lucky compared to someone a friend of mine knew.

She had a neighbor who was complaining about chest pains but was hoping it was gas. He was a widower with a young daughter. Friend told him to go to the hospital, but he was unemployed and didn't want to put his daughter's college fund at risk if it turned out to be nothing. The guy's mother came to check on him the next day and found him dead of a heart attack. Think about this poor guy and his daughter who is now an orphan next time you hear someone ranting about how government provided health care is socialism. What kind of society makes people choose between their children's education and getting help for potentially fatal health problems?

When a politician cannot run on his record he has to divert the voting public's attention. Class envy has always been an effective weapon. Racism is even being employed as a tool. President Obama is trying to divide and conquer. I have no problem with the color of his skin. Where the problem lies is with his failures. His huge economical stimulus plan did nothing to stimulate anything. There are now more American on food stamps then ever before. There are more children living at poverty levels then ever before. Yet he wants to double down on the things that have not worked before. If any of you had a man that ran your business like he has run this country. He would have been fired long before 4 years.

I don't agree with all of the President's policies, but divide and conquer what? He's already got the highest public office in the entire country. Please tell me you're not one of those people who think he wants to declare himself dictator or something. Yeah, the economy is crap. Worst economic downturn since the Great Depression. Anyone who expected a magic bullet is a moron. And yet the Republicans are always pushing to cut benefits for those poor people on food stamps.

Remember they repeatedly tried to block funding for extending unemployment benefits back in 2010? Millions of people were depending on those checks to stay in their homes while looking for work, and yet the Republicans were willing to risk making them homeless just to have a pissing match with the President over the budget. A budget which was not a priority under Bush, I might add. They only quit when they figured out it was making them look bad to voters.

I hate to pick on Detroit Michigan but facts are facts. I don't think anyone can remember the last time a Republican got elected to anything there. It has long been a bastion of Liberal democrats. So they have been in full control since I can remember. Take a drive thru that town and see what a liberal paradise looks like. Portions of it look like Berlin at the end of WWII. Cleveland Ohio a place 50 miles from me in my home state does not look much better. It is also a bed rock place of liberalism.

It's not nearly that simple. Seattle Washington is blue as a Smurf, and it's doing quite well considering the economic climate. So are Boston, Portland and Philadelphia. If liberal control were the real problem, shouldn't all these cities share the same economic woes? On the other hand, there are cities in consevative areas that are just as bad as Cleveland and Detroit.

If the majority of Americans feel that unfettered liberalism is the answer this fall. Then I will see a lot of you in our community soup lines. I won't have a choice I will be hungry too.

Guess you'd better stay healthy, then. Cause if you're not rich the conservatives don't give a **** about you.

 

[papaperch]

Glad you told me you don't hate the rich. Because everything you write smacks of it. One final thing then I will let this subject drop. There are more rich democrats then republicans. Also the democrats are far more stingy when it comes charity. I know you won't believe me but feel free to look it up.

 

[Shoemoo]

I hate the rich because I don't think the dishonest, unethical ones should be able to screw everyone and spread lies with impunity? Eu contrare. I repeat, there's nothing wrong with making a lot of money, and everyone should be allowed to make as much as they can. But not everyone plays by the rules. I think the present economic situation illustrates why not every industry can or should be deregulated. Some people who run businesses are greedy and get their money from cutting corners on worker safety, exploiting their employees and scamming their customers and investors. These are the types government should be protecting people against.

Your crystal ball needs polishing. I am aware Republicans give more to charity, and I have no trouble believing it. From what I understand, it's because religious people tend to give more to to both religious and non-religious charities. The Republican party base tends to be more religious than the Democrat base, which tends to be secular. Does their giving to charity excuse the "I've got mine so screw you lazy poor people" attitude a lot of them have when it comes to affordable health care for everyone? Or the Republican pliticians playing political kickball with unemployment benefits? Perhaps I should amend that last line to "Cause if you're not rich the conservative politicians don't give a **** about you."

 

[Fatman]

I'll agree with you on Detroit!!! Go by every time I'm on the way to my daughters house in Ypsi. They were actually in the news the other day they want to shut off half of their streetlights to save money!!!

I blame it on both parties - after getting in they gotta take care of their friends!! And all the subsidies to big companies don't help either.

 

[Hawnjigs]

The failure of communism as a desperate transition economic model between despotism and capitalism is history, with no relevance to our current situation except as a personal agenda buzz word tool to incite mindless reaction as in the early 50's.

Socialized programs, particularly health care, on the other hand are proven successes OUTSIDE THE UNITED STATES where government funding provides free access to all. Unfortunately, our lawmakers regardless of political affiliation appear to have accepted contributions from our health "care" private insurance industry. All of us probably know of lives ruined or lost because of non-coverage or dropped benefits. I'm slowly watching our disabled neighbor lose all his teeth because unemployability = no dental care access and my wife recently had her physical therapy for broken arm complications dropped far short of recovery. Our Norwegian friends have only good things to say about the socialized health and eldercare institutions there and altho the USA is home their annual visits to Norway are their high points.

As long as greedy unprincipled individuals or groups of same (aka corporations) feel entitled by the model of "capitalism" to pursue enrichment regardless of consequences to others, WE need protective governmental constraints to protect US. In an unregulated capitalistic system, jobs will continue to be moved to cheaper labor overseas, those that can afford to will buy government favoritism which funding will be accepted with impunity, essential commodities like gas and food will be profiteered to the detriment of all, money however earned will be the measure of a man, and the less fortunate will be denigrated and ignored.

"Divide and conquer" IMO appears to be not a political, but socio-economic strategy used by the 1% to sucker supporters from the working class to their agendas. Fear mongering, scapegoating, bone tossing, and carrot dangling.

 

[Hawnjigs]

Hahaha, hilarious, and actually pregnant with good information.