โMay-20-2008 09:25 PM
โOct-25-2009 06:05 AM
โOct-25-2009 05:28 AM
โOct-25-2009 05:16 AM
LindsayRichards wrote:
Great post Paw Paw (Is that Paw Paw MI. I used to work in Lawton, MI).
โOct-25-2009 05:02 AM
โOct-25-2009 04:49 AM
Fezziwig wrote:
"That is not the reason we don't drill for our own oil. The real reason is environmental pressure - pure and simple. "
I didn't know that the Environmentalists had more money than the oil companies. It must be so because we all know that congress-critters are For sale to the highest bidder.
โOct-25-2009 04:03 AM
Fezziwig wrote:
Because, although you may not think so, foreign oil is cheap right now. the long-term secular trend in oil prices is up: our oil will be worth much more in 20 years than it is now. It's better than money in the bank.
โOct-24-2009 08:16 PM
โOct-24-2009 05:57 PM
โOct-24-2009 05:27 PM
โOct-24-2009 03:22 PM
โOct-24-2009 03:05 PM
Fezziwig wrote:
The easiest answer is that the value of our resources goes up as other peoples resources are exhausted. So we should use up cheap oil from the middle east while holding ours in reserve for the future when demand is higher (and it seems demand increases every year as more countries demand a modern high-consumption economy) and the value of that underground oil increases. With world-wide known oil reserves peaking out it's better than money in the bank.
That's the policy we've pursued for 60 years and it's worked out well for us.
That is not the reason we don't drill for our own oil. The real reason is environmental pressure - pure and simple. We haven't built a new refinery in over 30 years for the same reason.
I will agree that the oil companies love this. it keeps the price higher than it otherwise would be or SHOULD be. And what oil company wouldn't like that? The envirnomental movement and Big oil make for strange bedfellows. They both LOVE high oil prices. The dirty little secret is this: The envirnonmental movement is a friend of Big Oil. Without the environmental movement, BIG OIL would be drilling BIG TIME. As it is, all they have to do is load a ship, drive it to a refinery, hook up a hose, unload, go get another one. Its easy, ne mess, no risk, no dry holes, no environmental fines, no hassle.
Its easy and it pays GOLD! Exxon Mobile made what last year, 54 BILLION? Why would they WANT to put up a fight with the environmental movement. They'd NEVER make that kind of $$ in a true free market.
It's just a savvy business decision. Yea, without a doubt.
By contrast, if you are a counter-party (an adversary) what you would like is for the USA to sell oil leases on ANWR and OCS at todays cheap prices. then, in 20 years when they are ready to come online, the prices will be much higher and you can sell it to higher bidders, like China, at the expense of the USA. So if you are a Harvard-trained Saudi MBA (and there are whole armies of those guys) with all the resources provided by all the money the USA has paid to Saudis for the past 50 years you lay a plan to get the USA to sign over cheap oil leases now.
If you don't mind me saying so, Thats kinda far out. Like I said, I've worked in Saudi Arabia. They ain't that smart. And I gotta tell ya, the idea that Saudi Arabia is a RICH Country, is a false assumption. Check this out. Saudi Arabia pumps about 11 million barrels a day export. At today's price say 80 bucks (and thats for WTI, not Middle eastern crude, but I've giving all I can) thats 880 Million dollars a day. Now thats a lot of money, but it also represents the BULK of the Saudi Economy. My friend, collectively we Americans spend more than that at Walmart every day. Mr. Bush spent 10 times more money in ONE DAY on TARP. Thats how much BIGGER our economy is than their's. The funny thing is this, if you want to break OPEC? Drill baby drill. We drill? They freak out! The last thing Opec wants us doing -- is drilling our own oil.
One form that Saudi plan could take (say, I were a Saudi MBA) would be to start a propaganda campaign in the USA to get citizens to pressure the government into selling oil leases right now. For example, I might start a US corporation with a nice all-american name like, say "American Solutions", and I would put an American flag on the web page, and I'd hire a prominent American politician, like, say, Newt Gingrich to front it. A PR firm would think up a catchy slogan, say, "Drill baby drill".
If I were such a devious Saudi MBA I would hold out as a carrot that letting leases now would solve todays USA gas problems, though I know that the oil won't come online for 20 years and then 2/3 or more will be sold to foreigners at high prices while being pumped out of USA oil reserves at old 2009 cheap prices.
Again, the last thing the Saudis want us doing is drill domestic oil. I was there when Drill baby drill was the mantra of some. I was there when oil was $146.00 a barrel. I wa there when the priceof oil fell through its rear end. They were walking 6 inches off the ground when oil was UP. I told some Sauid friends of mine, in a crowded lunch room "Don't set NEXT year's budget based on THIS year's oil price. Yer gonna be crying in a couple months when it falls to the cellar."
*Finger pointing up* "Oh no my freind. Thee perdice of oil has taken its rightfull place in the thee mardket. We'd are finally getting the money our labor deserves" or something like that. Anyway, a month later, I'm standing there saying "Told ya so" while they run around in sandle clad feet pulling their hair out - fretting "It is only for short time, inshalla.
No sir, if the Saudis are paying for any kind of propaganda, its Anti Palin propaganda.
But then, our loyal royal allies in Saudi Arabia wouldn't do that would they?
They really don't think that far into the future. If they did, they wouldn't have such a welfare state now.
They wouldn't be that mean and selfish would they?
They wouldn't be that calculating would they?
The country is full of radicals. But the country itself ain't any more selfish than we are. They want all they can get, so do we.
We could take a few lesson on meaness from the Saudis. They don't have a drug problem. They cut the heads off of dealers.
After all, they love us! Pay no attention to the fact that 15 of 19 bombers on 9/11/2002 were Saudis. Oh, and ignore that Osama Bin Ladin is a Saudi.
Most of them HATE Bin Laden. They would burn him alive if he showed up in Saudi Arabia.
I went over there for one reason. MONEY! I went over there fully prepared to hate them. I went over there fully expecting THEM to hate ME. Wasn't so, the vast majority of them DO love us, we're their biggest customer. The every day simple simon saudi working man is as simple as they come. He just wants to feed his family. Its the small LOUD minority that you see on the news. Its the 15 of the 19 that you see and hear about. I'm all for profiling. All the terrorists were young muslums. Profiling and generalizing are two different things.
We have skin heads, the KKK, and a few more radical hate groups. All countrys have their radicals. Does that make us all racists? Certainly not.
โOct-24-2009 12:12 PM
โOct-24-2009 11:05 AM
โOct-24-2009 05:49 AM
Fezziwig wrote:
Supply and demand?
Most people have a grossly oversimplified notion of "supply and demand".
Fezzowig wrote:
It's a terrible thing when actual fact interferes with a guys ideology.
โOct-23-2009 03:23 PM
Most people have a grossly oversimplified notion of "supply and demand".