Fezziwig
SF bay
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Instead of 'drill now drill here', how about using oil leases already granted
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(July 17) Today, Congressman Wexler voted for the Drill Act, which would bring 10.6 billion barrels of oil immediately to American consumers by requiring oil companies to being producing oil from acres of land already leased. The legislation would have allowed other companies to take over these leases if the oil company currently in possession failed to begin oil production. The Drill Act would have also required the Administration to oversee the construction of a pipeline from these Alaskan reserves for the transport of oil and gas to the lower 48 states. The pipeline project would have created an estimated 10,000 new jobs. In addition, the legislation banned the export of this American-made energy, reserving resources for here at home. Unfortunately, House Republicans blocked the Drill Act, which required a two-thirds vote of support in order to pass."Oil companies are actively holding 10.6 billion barrels of oil hostage from the American people and this legislation would have required them to begin production immediately,” said Congressman Wexler. “While House Republicans claim they want to increase domestic supply of oil and gas to the market, by blocking this legislation they took a hard stand against the development of our domestic resources.
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AO_hitech
SF Bay Area
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Fezziwig wrote:"Oil companies are actively holding 10.6 billion barrels of oil hostage from the American people and this legislation would have required them to begin production immediately,” said Congressman Wexler. “While House Republicans claim they want to increase domestic supply of oil and gas to the market, by blocking this legislation they took a hard stand against the development of our domestic resources.
But the oil companies aren't manipulating the price of oil, and some of congress isn't "in on it".
What ever happened to those that claimed the oil compaines made a fair profit from oil (percentage wise)?
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Dick A
Spokane
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If you two don't quit arguing I'm goin to dunk ya both in the bay! 
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crudeman
Texas
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AO_hitech wrote:Fezziwig wrote:"Oil companies are actively holding 10.6 billion barrels of oil hostage from the American people and this legislation would have required them to begin production immediately,” said Congressman Wexler. “While House Republicans claim they want to increase domestic supply of oil and gas to the market, by blocking this legislation they took a hard stand against the development of our domestic resources.
But the oil companies aren't manipulating the price of oil, and some of congress isn't "in on it".
What ever happened to those that claimed the oil compaines made a fair profit from oil (percentage wise)?
Your buddy there has run them off I think.
Steve & Pat
Maggie- Hannah
2006 HR Ambassador PDQ
05 Malibu - Toad
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AO_hitech
SF Bay Area
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Dick A wrote:If you two don't quit arguing I'm goin to dunk ya both in the bay!
Okay, okay, I'll stop. The bay is too damn cold for me. 
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Fezziwig
SF bay
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It's hot here in Cupertino but I'm sitting in shorts at a picnic table on the shores of lovely Stevens Creek Reservoir having my lunch and connected to internet with my new EVDO USB727. Very cool. Looks like this will make a good RV highspeed connection.
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TrueLarry
Clifton Park, NY
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I've been following this thread for a few weeks now and it seems to me that it is going round and round and the same people keep saying the same things - hmmm sounds like the Republicans and Democrats debating in Congress.
What it really boils down to is quite simple - cost/benefit. We the people will buy the energy that is the cheapest we can get to meet our needs. Why we are all in a panic at the moment is that we can't just change everything in order to keep getting cheap energy. Oil companies will produce more when we stop putting restraints on their production and refining and when the profit enables them to do so and make money at it.
We the People will buy/install/use solar and wind when they are cheaper than gas/oil/electricity and we have the ability to use them effectively. What it comes down to is that we will have to be using a combination of all of these for a period of transition until something else comes along and takes their places.
Go back 150 or 200 years and we started with wood because it burned. Then we got coal so we used that because it was smaller to store and hotter to burn. Then oil came along and it got us something cheaper and easier to transport and use. It also gave us the internal combustion engine. When I was a teenager I drove a 75 HP six that got 8 miles per gallon. Now I drive a 230 HP six that gets 20 mpg. However, it's still internal combustion.
Now that we are facing the ultimate end of cheap oil, we must change again. The problem is that everything we might change to is still more expensive and has problems of distribution, transport, etc. However, the good news is that the price is causing us to conserve somewhat and the price of oil has dropped about 25% or so in just a few weeks. This is the reality - supply and demand. If demand goes down and/or supply goes up, the price goes down. When a cheap substitute comes along the price of fuel will fall. If nothing comes along it will keep going up. However, it will not be the government that makes this happen. When the feds or congress get involved they muck everything up artificially, which just makes matters worse. We don't need price controls and we don't need subsidies. What we need to do is let the market work, let companies make money and innovation will produce some solutions.
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AO_hitech
SF Bay Area
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TrueLarry wrote:This is the reality - supply and demand.
The current price spike is not supply and demand driven. The facts just don't support that.
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traxtermax
UPSTATE NEW YORK
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Joined: 05/26/2004
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TrueLarry wrote:...This is the reality - supply and demand...
In July heating oil was $4.89/gallon and now, September 3rd, is $3.87/gallon. How is that supply and demand?
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H_1
Flat Rock, Indiana, USA
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Found the link I'd mentioned earlier.
Rick Wagoner (GM CEO) on Charlie Rose
Quote:On the subject of incentives he said that GM doesn't expect the government to pay for the development of vehicles like the Volt, but would like to see the government encourage the demand side to help build volume. That would be a combination of incentives to buy, and also allowing fuel prices not to drop too much. The company is already realigning its production capacity to the reality of high gas prices and they would hate to see a reversal in demand for trucks at this point.
Not expressing approval or disapproval, but it seems possible there will be a long term impact on tow vehicles.
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