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View Full Version : The most fundamental fact about oil worldwide is that there is lots of it.



megimoo
06-16-2008, 02:07 PM
A World Afloat on an Ocean of Oil

Considering how much untapped oil is known to exist, not just in the United States, but worldwide, one would think that its current price was some kind of anomaly and it is. It is more the result of speculation than anything else.

The most fundamental fact about oil worldwide is that there is lots of it. Though frequently overlooked, the ability to refine crude oil plays an essential role in the supply and demand equation. More refining capacity is needed worldwide. Finally, there's the fact that, in general, oil is very expensive to get at and often found in the most inhospitable places on Earth.

For sheer insanity, however, consider a nation that has an estimated 31 billion barrels of oil offshore of its coasts and 117 billion barrels of oil under land owned or managed by the government, plus 139 billion barrels beneath privately held land.

In just one area, a desolate place designated a wildlife refuge, there's an estimated 7.7 billion barrels untapped. The nation with this abundance of oil is, of course, the United States of America. Most of the areas where oil is known to exist have been ruled off-limits to any exploration or extraction by the government.

In the areas where it is accessible, drilling for it is hugely encumbered and often denied by the National Environmental Policy Act, the Clean Water Act, the Endangered Species Act, and the National Historic Preservation Act.

If, however, you connect the dots, you will have noticed by now that America's energy problems, namely the price of a gallon of gasoline or heating oil, is making everyone miserable thanks in great part to environmental legislation designed to make it impossible to access oil on both public and privately held lands.

Then, just to make matters worse, the government requires that every gallon of gasoline include the additive, ethanol, which reduces its mileage and increases its cost.

Further, we're told that Sen. Barack Obama, if elected, intends to seize "windfall profits." This is sufficient reason for American oil companies to decide to drill anywhere else. The last time a windfall profits tax was implemented was at the end of President Carter's term. It had such a negative impact on U.S. oil companies that drilling for oil domestically dropped dramatically. It has stayed that way since the 1980s. Their actual profits are now less than pharmaceutical, high tech, and other elements of the economy. Imagine how thrilled they were to hear Rep. Maxine Waters' threat to nationalize them.
http://www.familysecuritymatters.org/publications/id.373,css.print/pub_detail.asp

http://www.familysecuritymatters.org/publications/id.373/pub_detail.asp

LogansPapa
06-16-2008, 02:18 PM
So have the political balls to change the legislation. End of Emergency. Stop talking and do it.

Constitutionally Speaking
06-16-2008, 03:17 PM
So have the political balls to change the legislation. End of Emergency. Stop talking and do it.

Democrats keep voting it down. As much as you leftists try to claim otherwise, we live in a Democracy and George W. Bush has followed the rules.

He isn't king and cannot simply declare his will is the law.

LogansPapa
06-16-2008, 03:38 PM
He isn't king and cannot simply declare his will is the law.

He can declare a national emergency. If he can stretch our military to the limit on questionable foreign engagements - he can do this. Daddyís buddies couldnít be making a nickel of profit off the current situation, right?

megimoo
06-16-2008, 03:45 PM
Democrats keep voting it down. As much as you leftists try to claim otherwise, we live in a Democracy and George W. Bush has followed the rules.

He isn't king and cannot simply declare his will is the law.Give it up, don't waste your breath talking to this liberal .THe BDS is strong and deep in this one !

LogansPapa
06-16-2008, 03:53 PM
Give it up, don't waste your breath talking to this liberal .THe BDS is strong and deep in this one !

No, silly asshole - you need to know that the cost of fuel has NEVER gone up so high - so fast and that youíll soon be looking back on "the good olí days" when gasoline was $5.00 a gallon! The signs of a crippling economy are already showing and the cost to move a container from China just went up to $5,600 this week. So get your head out of your ass and understand that this country has never faced this kind of perfect storm of economic burdens, the wars, the housing collapse, food costs going through the roof and illegal aliens - like this before.

patriot45
06-16-2008, 04:29 PM
No, silly asshole - you need to know that the cost of fuel has NEVER gone up so high - so fast and that youíll soon be looking back on "the good olí days" when gasoline was $5.00 a gallon! The signs of a crippling economy are already showing and the cost to move a container from China just went up to $5,600 this week. So get your head out of your ass and understand that this country has never faced this kind of perfect storm of economic burdens, the wars, the housing collapse, food costs going through the roof and illegal aliens - like this before.

That whole screed is from failed lberal policies, the libs and thier emotonal fixes for things always have those pesky unintentional consequences.

LogansPapa
06-16-2008, 04:46 PM
That whole screed is from failed lberal policies, the libs and thier emotonal fixes for things always have those pesky unintentional consequences.

Almost - the decision to go into Iraq is pretty much the current president's baby, eh?;)

Molon Labe
06-16-2008, 05:00 PM
Almost - the decision to go into Iraq is pretty much the current president's baby, eh?;)

It's very hard to convince people that perhaps Iraq wasn't the most healthy endeavor. Those "unintended consequences" are at work in current Republican foreign policy as well.

patriot45
06-16-2008, 05:04 PM
Its still all old failed liberal crap, from Carter and Iran to Clinton and his inaction. Unintended consequences!

I blame everything on liberals!

Constitutionally Speaking
06-16-2008, 05:09 PM
He can declare a national emergency. If he can stretch our military to the limit on questionable foreign engagements - he can do this. Daddyís buddies couldnít be making a nickel of profit off the current situation, right?



Have you seen the uproar Bush causes when he tries a recess appointment when the Dems misuse their power????

Hell, he has done everything by the book and STILL those assholes are calling for impeachment!!

LogansPapa
06-16-2008, 05:27 PM
Well all of that is fine - and placing blame is a wonderful use of resource, but how about recognizing a trend, you know - like an on-coming hurricane, and enact some Emergency Powers magic. Shit, I donít care if we invade Mexico - just do something! Premium was $4.87 at ARCO this morning - a new all time record!

Constitutionally Speaking
06-16-2008, 08:13 PM
Well all of that is fine - and placing blame is a wonderful use of resource, but how about recognizing a trend, you know - like an on-coming hurricane, and enact some Emergency Powers magic. Shit, I donít care if we invade Mexico - just do something! Premium was $4.87 at ARCO this morning - a new all time record!

I personally think we should ban all liberals from positions of power, it would solve most of our problems, including the cost of gasoline, but somehow I don't think you'd go for that! :D

megimoo
06-16-2008, 10:08 PM
No, silly asshole - you need to know that the cost of fuel has NEVER gone up so high - so fast and that youíll soon be looking back on "the good olí days" when gasoline was $5.00 a gallon! The signs of a crippling economy are already showing and the cost to move a container from China just went up to $5,600 this week. So get your head out of your ass and understand that this country has never faced this kind of perfect storm of economic burdens, the wars, the housing collapse, food costs going through the roof and illegal aliens - like this before.
You of all people should never refer to anyone else as an 'ass hole'with your track record of posted mindless knee-jerk liberalism .Reading your foolish liberal screed has defined your foolishness to many people !

I have noticed a number of your trademark style posts at DU and I wonder why you decided to leave that place and honor us with your silly assed opinions.Your reception at CC is much the same as your reputation at CU .Most there have castigated you as well because of your foolish liberal crap and mindless posts.I would expect someone with your obvious lack of original thought to post on NU as that liberal cage of parrots is much more to your style.

Your dumb liberal ass has lumped together every problem this country faces and blames it on President Bush.The real power to change the environmental laws put in place by your liberal brethren is with the Congress.Even today in light of Americas high fuel costs your West Coast liberals will not allow drilling off the coast of California or in Alaska while oil pumps run 24/7 at Signal Hill just outside of downtown L.A!
The Congressional Liberal Democrats of California ,Boxer,Waxman,Pelosi,Feinstein and the rest are a national disgrace and are a tribute to California's Deviate National reputation .The land of fruit and nuts is sure an accurate description of your home state of choice.

LogansPapa
06-17-2008, 10:18 AM
Preaching to the choir isnít challenging. Your ilk is too comfortable with itself and needs the shit shaken out of it - just to keep the blood fresh. A little revolution is good for the democracy every once in a while. My purpose is to comfort the afflicted and afflict the comfortable.

Donít care for it? DO SOMETHING ABOUT IT.

BTW: Since the mid-60ís, Signal Hill has pumped road tar. Get your facts straight.