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Troll
05-12-2011, 08:13 PM
I watched some of the footage today of the oil men being grilled on Capitol Hill.

Every time I listen to Democrats talk, I'm always filled with questions, so I thought maybe I'd ask a few here.

My first question is:

Can someone please provide me one example of a company's taxes being raised and the cost of that company's goods decreasing as a result?

djones520
05-12-2011, 08:17 PM
I was speaking about that with someone of a blue persuasion yesterday.

I said I was against the government subsidizing any private industry, but with gas prices as high as they are right now, people would have to be insane to cut those subsidies. Do they honestly think the companies are just going to take the hit? Hell no. They'll get the money another way, by jacking prices up even more.

Articulate_Ape
05-12-2011, 08:23 PM
No corporation has ever paid a penny in taxes -- ever. Taxes are costs, costs affect the bottom line, so they are passed on as much as the market will bear; and, since all corporations pay taxes, the market will bear it.

People pay taxes.

djones520
05-12-2011, 09:15 PM
I found it ironic that the Democrats with one breath were hammering these guys for high gas prices, then with the next breath were asking them to justify their "tax breaks".

So the Democrats are saying that they want to end Big Oil's tax breaks and to see lower prices at the pump?

I'm confused.

It's cause they're idiots. Just easier to think of it in that terms.

NJCardFan
05-12-2011, 09:39 PM
Jimmy Carter tried this crap with price fixing in the late 70's and we all know how that turned out. But the strange thing is that these dummocrats, the answer to everything is higher taxes. Um, how about we drill for our own oil. We have enough oil at our disposal where we can tell all foreign suppliers to pound sand. But noooo, we might kill some bumble bees. :rolleyes:

djones520
05-12-2011, 09:44 PM
Jimmy Carter tried this crap with price fixing in the late 70's and we all know how that turned out. But the strange thing is that these dummocrats, the answer to everything is higher taxes. Um, how about we drill for our own oil. We have enough oil at our disposal where we can tell all foreign suppliers to pound sand. But noooo, we might kill some bumble bees. :rolleyes:

Honestly we don't. If our daily consumptions stayed at the level that is was today, it's estimated that we have enough oil to get us through 18 years, without outside supply. But our consumption will most likely grow, so that number will get smaller.

Now, we can drastically defray the cost of oil by opening our own reserves for our use (and building more refineries), but I believe we're always going to be at least somewhat dependant on foreign oil.

lacarnut
05-12-2011, 11:36 PM
Honestly we don't. If our daily consumptions stayed at the level that is was today, it's estimated that we have enough oil to get us through 18 years, without outside supply. But our consumption will most likely grow, so that number will get smaller.

Now, we can drastically defray the cost of oil by opening our own reserves for our use (and building more refineries), but I believe we're always going to be at least somewhat dependant on foreign oil.

You do not know what you are talking about. In 5 to 10 years, this country would not have to buy a drop of oil from anyone. Open up drilling in the Gulf, Anwar, offshore and coal located on federal lands in the west along with new nuke plants. Combined that with an abundance of natural gas and we would have enough energy for our homes and cars. Billions would need to be spent on infrastructure. Natural gas has a low cost and is a clean burning fuel; this is the answer to our energy problems. However, the Env. nuts and liberals do everything to stop more production.

Kay
05-13-2011, 12:41 AM
What Lacarnut said. Open up drilling and our energy woes disappear.
Jones you need to stick to predicting the weather and send me some rain.

Rockntractor
05-13-2011, 01:09 AM
http://www.nextenergynews.com/news1/next-energy-news2.13s.html

Massive Oil Deposit Could Increase US reserves by 10x

America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost Americaís Oil reserves by an incredible 10 times, giving western economies the trump card against OPECís short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.

It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.

The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.

Rockntractor
05-13-2011, 01:13 AM
The first thing we need to do is get the EPA off our backs and open up all our drilling again and quit listening to government sponsored whack jobs that tell us we are almost out oil. We have oil for another 100 years and who knows what kind of extraction technology we'll have by then!

lacarnut
05-13-2011, 01:31 AM
The first thing we need to do is get the EPA off our backs and open up all our drilling again and quit listening to government sponsored whack jobs that tell us we are almost out oil. We have oil for another 100 years and who knows what kind of extraction technology we'll have by then!

Of course if the dumb ass Repubs pass legislation repealing the depletion subsidy and removing the exemption for depreciation of plant and equipment, the oil companies will slow down their new production wells. With less production in this country, higher costs, and more usage, the price will increase and the camel jockeys will keep on raping us.

It is a shame there is so much misinformation about the oil companies. What is even worse is that we have ignorant Republicans voters repeating stupid shit.

djones520
05-13-2011, 02:00 AM
US Department of Interior estimates the total recoverable oil that we can drill within the United States to be 134 billion barrels. Saudi Arabia is twice that at 267 billion, and Venezuala is around 297 billion.

http://www.boemre.gov/revaldiv/PDFs/2006NationalAssessmentBrochure.pdf

Our current daily consumption is 21 million barrels a day.

That is 17 and a half years.

So please, tell me where anything I said was wrong.

We can open up drilling all we want, but we are going to run out, and current estimates put us right around 17-18 years, if our consumption does not increase. Just like I said.

Rockntractor
05-13-2011, 02:16 AM
US Department of Interior estimates the total recoverable oil that we can drill within the United States to be 134 billion barrels. Saudi Arabia is twice that at 267 billion, and Venezuala is around 297 billion.

http://www.boemre.gov/revaldiv/PDFs/2006NationalAssessmentBrochure.pdf

Our current daily consumption is 21 million barrels a day.

That is 17 and a half years.

So please, tell me where anything I said was wrong.

We can open up drilling all we want, but we are going to run out, and current estimates put us right around 17-18 years, if our consumption does not increase. Just like I said.

Obama's dept of interior wouldn't lie to us now would they.

djones520
05-13-2011, 02:21 AM
Obama's dept of interior wouldn't lie to us now would they.

2006 Survey, so unless they've developed time travel to push their lies. :p

txradioguy
05-13-2011, 02:31 AM
Honestly we don't. If our daily consumptions stayed at the level that is was today, it's estimated that we have enough oil to get us through 18 years, without outside supply. But our consumption will most likely grow, so that number will get smaller.

Now, we can drastically defray the cost of oil by opening our own reserves for our use (and building more refineries), but I believe we're always going to be at least somewhat dependant on foreign oil.

We've got enough. But the Enviro NAZI's have such a death grip on the EPA and the other federal regulating agencies that unless there is a massive change at some of the regulating agencies it will be tough to drill.

As I've said before...just building and bringing online two new gasoline refineries would bring the cost at the pump...expansion of the refineries we have would have the same effect...but any expansion of the current facilities means the entire thing has to suddenly fall under the newer draconian emissions regulations which effectively ensures no new refineries are built and the new ones continue running at 110 - 115% of capacity.

Perfect example of environmental stupidity...one of the largest untapped natural gas fields is underwater off the coast of California. We're talking TRILLIONS of cubic feet of gas. But because the California Costal Commission put a ban on ANY new offshore drilling about 20 years ago...it's still there. That's natural gas that could have fired electric plants and prevented the rolling blackouts that cost Gray Davis his job.

Rockntractor
05-13-2011, 02:32 AM
2006 Survey, so unless they've developed time travel to push their lies. :p

We have as much oil in oil shale as all of the middle east combined.

lacarnut
05-13-2011, 03:12 AM
US Department of Interior estimates the total recoverable oil that we can drill within the United States to be 134 billion barrels. Saudi Arabia is twice that at 267 billion, and Venezuala is around 297 billion.

http://www.boemre.gov/revaldiv/PDFs/2006NationalAssessmentBrochure.pdf

Our current daily consumption is 21 million barrels a day.

That is 17 and a half years.

So please, tell me where anything I said was wrong.

We can open up drilling all we want, but we are going to run out, and current estimates put us right around 17-18 years, if our consumption does not increase. Just like I said.

I will take Boone Pickens word over the Dept of Interior who incidentally has stopped production in the Gulf/Anwar and is a liberal arm of the Democratic Party. In other words, the Dept of Interior is full of shit. BTW, that old survey does not take into account the new fields of gas and oil discoveries ON LAND. I have further news for you; when you drill a well you don't know how much oil is underground. It is a GUESS. If you don't think so, CO2 is being pumped into old capped wells and they estimate that only 40 to 60 per cent has been extracted. That leaves 40 to 60 per cent left in these wells in LA,MS.Tx,OK and the mountain states.

BTW, if you do not have personal knowledge of the oil industry, you just make yourself look like a fool quoting the Dept. of Interior because Ken Salazar is the biggest anti-oil prick in the O's admin.

MrsSmith
05-13-2011, 08:35 AM
US Department of Interior estimates the total recoverable oil that we can drill within the United States to be 134 billion barrels. Saudi Arabia is twice that at 267 billion, and Venezuala is around 297 billion.

http://www.boemre.gov/revaldiv/PDFs/2006NationalAssessmentBrochure.pdf

Our current daily consumption is 21 million barrels a day.

That is 17 and a half years.

So please, tell me where anything I said was wrong.

We can open up drilling all we want, but we are going to run out, and current estimates put us right around 17-18 years, if our consumption does not increase. Just like I said.

Even if that were true, if the US pumped all of our oil for the next 18 years and removed all our money from the oil market, most of our overseas enemies would be busted back to the Middle Ages financially.

CatholicCrusader
05-13-2011, 09:11 AM
I watched some of the footage today of the oil men being grilled on Capitol Hill.

Every time I listen to Democrats talk, I'm always filled with questions, so I thought maybe I'd ask a few here.

My first question is:

Can someone please provide me one example of a company's taxes being raised and the cost of that company's goods decreasing as a result?

The problem here is, you are actually using common sense. Don't you know there's no place for that in Washington? LOL.

Personally, I thought the most interesting comment was when one oil executive said that oil companies make 6 cents profit off of every gallon of gas and the government makes 50 cents taxes off every gallon.

Conclusion: If big oil is bad, then big government is 8 times as bad.

djones520
05-13-2011, 12:23 PM
I will take Boone Pickens word over the Dept of Interior who incidentally has stopped production in the Gulf/Anwar and is a liberal arm of the Democratic Party. In other words, the Dept of Interior is full of shit. BTW, that old survey does not take into account the new fields of gas and oil discoveries ON LAND. I have further news for you; when you drill a well you don't know how much oil is underground. It is a GUESS. If you don't think so, CO2 is being pumped into old capped wells and they estimate that only 40 to 60 per cent has been extracted. That leaves 40 to 60 per cent left in these wells in LA,MS.Tx,OK and the mountain states.

BTW, if you do not have personal knowledge of the oil industry, you just make yourself look like a fool quoting the Dept. of Interior because Ken Salazar is the biggest anti-oil prick in the O's admin.

Do you guys know about some secret time machine these guys are using that lets them go back in time and alter reports.

If you had clicked on the link, you would have seen this report came from 2006. Gale Norton was Secretary of the Interior at the time this was compiled, and she was considered one of the leading advocates for expanding oil drilling and production in the Bush administration.

So if these numbers were fudged at all, they were fudged on the positive side.

djones520
05-13-2011, 12:55 PM
And for the record, Boones has been peddling the Peak Oil theory for years. So I'd say his opinion can't be taken as gospel.

He said we reached it back in 2007, and 2010. And now he's saying we have more then double the reserves that Saudi has? You'll have to forgive me if I don't blindly trust him.

lacarnut
05-13-2011, 01:01 PM
Do you guys know about some secret time machine these guys are using that lets them go back in time and alter reports.

If you had clicked on the link, you would have seen this report came from 2006. Gale Norton was Secretary of the Interior at the time this was compiled, and she was considered one of the leading advocates for expanding oil drilling and production in the Bush administration.

So if these numbers were fudged at all, they were fudged on the positive side.

I read it but offshore drilling is only a part of the puzzle in solving our energy problem. Are you deaf and dumb to not have read what I and others have written about ON Land, ON Land, ON Land resources such as drilling wells, natural gas exploration, nukes, coal, etc.

I know the bull shit the liberals keep spouting off that the amount of oil offshore is not worth the effort. You seem to have fallen into that camp. All, all, all energy resources needed to be tapped so that we can be energy dependent not for 17 or 18 years but forever.

Like I said Ken Salazar, the present Secretary, is the biggest anti-oil prick in the O's admin. Who gives a shit when Norton was Secretary. The agency is filled with liberals that have their own agenda plus the last time I looked the year is 2011. The present is what needs to focused on not some dopey report 5 years old report you seem to be hung up on.

lacarnut
05-13-2011, 01:26 PM
And for the record, Boones has been peddling the Peak Oil theory for years. So I'd say his opinion can't be taken as gospel.

He said we reached it back in 2007, and 2010. And now he's saying we have more then double the reserves that Saudi has? You'll have to forgive me if I don't blindly trust him.

He was wrong about peak oil and so is that fucked up study about offshore production. He was also involved in wind power and backed off that stupid idea also. He is a businessman and a billionaire. Smarter and richer than you will ever be. The point is that huge oil and natural gas discoveries have been made in the last couple of years. Pickens acknowledges that natural gas is the secret to our energy problems and has invested heavily in that area. What expertise do you have. None. All you can do is keep parroting the same bull shit you read as the gospel. I trust Pickens more than I trust any of the anti-oil, env. wacks at the Dept of Interior.

Let me explain it to you in simple language so even a novice like you can understand it. When you drill for oil, there is no assurance of how many barrels of oil can be extracted from the ground or at sea. It is a GUESS. There will always be new discoveries of oil. Get that into your thick skull.

Novaheart
05-13-2011, 01:51 PM
http://www.nextenergynews.com/news1/next-energy-news2.13s.html

lol - God truly is on our side.

Rockntractor
05-13-2011, 02:01 PM
lol - God truly is on our side.

Besides heavy equipment work I pump five oil leases two of which were supposedly out of oil 30 years ago, experts tested the area and said there was no more oil, they are pumping again, where did that nonexistent oil come from. The man I worked for has bought several of these dry leases and we are selling hundreds of barrels of oil from them. This is true all over Oklahoma. What do you do for a living since you want to mock me, you wouldn't know crude oil if you fell in it face first.

Novaheart
05-13-2011, 02:07 PM
.... since you want to mock me, you wouldn't know crude oil if you fell in it face first.

I wasn't mocking, you ass, I was cheering.

Also the "new" oil phenomenon has bee experienced elsewhere, where old wells have come back to life, in Louisiana if I recall correctly, and the wild thing about it is that the "new" oil samples are not the same age or something as the previously pumped oil.

BTW, years ago I spent a fair amount of time reading the Oil And Gas Journal because for some reason it was the only interesting magazine in my doctor's office.

lacarnut
05-13-2011, 02:30 PM
Besides heavy equipment work I pump five oil leases two of which were supposedly out of oil 30 years ago, experts tested the area and said there was no more oil, they are pumping again, where did that nonexistent oil come from. The man I worked for has bought several of these dry leases and we are selling hundreds of barrels of oil from them. This is true all over Oklahoma. What do you do for a living since you want to mock me, you wouldn't know crude oil if you fell in it face first.

I have an oil royalty on property in north LA (Delhi region) that was pumping a few barrels of oil from an old well. Recently Denbury injected CO2 into this well and now this entire field which is in stage 1 of 5 is producing tens of thousands of oil per month. Denbury is running pipelines from MS to LA and TX to pump CO2 into these old wells. There is no telling how much oil is still in the ground from them. By all accounts only half of the oil has been recovered. However, the peak oil theorist keep pumping the same old bullshit.

Rockntractor
05-13-2011, 02:33 PM
I have an oil royalty on property in north LA (Delhi region) that was pumping a few barrels of oil from an old well. Recently Denbury injected CO2 into this well and now this entire field which is in stage 1 of 5 is producing tens of thousands of oil per month. Denbury is running pipelines from MS to LA and TX to pump CO2 into these old wells. There is no telling how much oil is still in the ground from them. By all accounts only half of the oil has been recovered. However, the peak oil theorist keep pumping the same old bullshit.

You are very right and this was not foreseen in the five year old report.

Rockntractor
05-13-2011, 02:34 PM
I wasn't mocking, you ass, I was cheering.



Oh, nevermind.:o:D

lacarnut
05-13-2011, 02:53 PM
You are very right and this was not foreseen in the five year old report.

Neither was the Bakken oil field report in 2008 that states this is the largest field discovery in the last 50 years or the Haynsville natural gas find or the oil sands in Utah or the PA oil fracking. So it seems that this 5 year old Dept of Interior report is as worthless as piss on a hot rock cause new discoveries of energy are forthcoming.

We have plenty of energy in this country. Our politicians and many voters are just stuck on stupid.

Rockntractor
05-13-2011, 03:00 PM
Neither was the Bakken oil field report in 2008 that states this is the largest field discovery in the last 50 years or the Haynsville natural gas find or the oil sands in Utah or the PA oil fracking. So it seems that this 5 year old Dept of Interior report is as worthless as piss on a hot rock cause new discoveries of energy are forthcoming.

We have plenty of energy in this country. Our politicians and many voters are just stuck on stupid.

If we can avoid this creeping socialist government there is no telling what discoveries we will make in the next 20 years.

lacarnut
05-13-2011, 03:24 PM
If we can avoid this creeping socialist government there is no telling what discoveries we will make in the next 20 years.

And politicians who think that the oil company's profit of 6 to 8 cents a gallon is gouging, we would have it made. The gouging comes from the Feds and State excise tax on gasoline oil amounting to 7 to 8 times that amount.