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  1. #31  
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    Quote Originally Posted by namvet View Post
    look back. i gave you the answer. your long on theory but unable to marry it to an action. enjoy your food. hope it didn't come from China.
    Ok, so your answer to the question of rising oil prices is "crooked politicians." Maybe we ought to make you prez (not me, as my sordid past makes me virtually unelectable), as you seem to have such a grasp of world economies, global politics, and the general issues of the day!

    I doubt that the lamb came from China (more directly, it came from Whole Foods), as I don't think China is a big exporter of lamb. However, the wine is from Sicily, and the whine is really what matters, isn't it? :D
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  2. #32  
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    Quote Originally Posted by Cold Warrior View Post
    Ok, so your answer to the question of rising oil prices is "crooked politicians." Maybe we ought to make you prez (not me, as my sordid past makes me virtually unelectable), as you seem to have such a grasp of world economies, global politics, and the general issues of the day!

    I doubt that the lamb came from China (more directly, it came from Whole Foods), as I don't think China is a big exporter of lamb. However, the wine is from Sicily, and the whine is really what matters, isn't it? :D
    as you seem to have such a grasp of world economies, global politics, and the general issues of the day!
    having trouble with the font??? i answered this to. you mean the "theory" is the food didn't come from China.:D
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  3. #33  
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    Quote Originally Posted by namvet View Post
    having trouble with the font??? i answered this to. you mean the "theory" is the food didn't come from China.:D
    Not quite sure what you mean? I did, indeed, forget to increase the font size on the last post; however, I hardly see how that matters.

    As I said, I doubt that the lamb came from China, but it may have. So what? That's the Sam Walton business model, isn't it? Manufacture where it's cheap and take advantage of cheap transportation costs to maintain "just in time" inventories. Whoops! But what if transportation isn't cheap anymore? :D The whole model falls down! Too bad. Another model will replace it. And, at the end of the day, Sam and the Samlets could care less (is Sam dead?).

    And, I'm fairly certain the Sicilian red did not come from China.
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  4. #34  
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    Quote Originally Posted by Cold Warrior View Post
    Unless people here think that drilling in ANWAR and other areas is going to dramatically increase the world's oil supply in the short term, there is no reason to think that such activities will dramatically lower the price of oil. Unless, of course, you believe that the oil companies will sell oil to Americans cheaper than world market prices (and if you believe that, there's a bridge...).
    True, ANWR would only produce a million barrels a day, but the mere announcement by a Statesman that the US would open up federal lands and the coasts of the US to drilling, and the short term price of oil would drop 30 to 40 dollars a barrel. Actually implement an energy independence project ala the Manhattan project and the Mideast would resort to offering those tumbler glass sets that they hand out when you drove up to the full service pumps in the 60's
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  5. #35  
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    Quote Originally Posted by ReaganForRus View Post
    True, ANWR would only produce a million barrels a day, but the mere announcement by a Statesman that the US would open up federal lands and the coasts of the US to drilling, and the short term price of oil would drop 30 to 40 dollars a barrel. Actually implement an energy independence project ala the Manhattan project and the Mideast would resort to offering those tumbler glass sets that they hand out when you drove up to the full service pumps in the 60's
    I am totally in agreement with you regarding an energy independence program, including a strong focus on nuclear to provide electrical power, ala France which provides 80% of its electricity through nuclear. That simply makes sense and politicians who ignore it do so at risk of our country.

    However, short-term measures such as opening ANWR would be less effective than most people believe. First, it would take several years for that oil to come online, and oil futures are typically traded iwith a three month window. Secondly, as I pointed out above to the guy whose answer is "crooked politicians," unless you dramatically increase supply, you will not dramatically decrease prices, as we operate in a global economy and thoughts of keeping the oil for ourselves at lower prices are nonsense.

    Certainly, opening up these areas to drilling would cause a drop in the price of oil, purely from the psychological effects, but probably not as much as you indicate, as experts believe that only a maximum of 50% of the rise is due to speculation. Assuming the increase is $70 and the speculative component amounts to $35, then the actions you suggest might knock 30% off that, netting a drop of around $10-$15. None of these actions, however, address the key factor in the rise, the weakness of the dollar. Get the dollar back to close to parity with the Euro and you would see oil drop down to around $90 a barrel.
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  6. #36  
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    Quote Originally Posted by Cold Warrior View Post
    I am totally in agreement with you regarding an energy independence program, including a strong focus on nuclear to provide electrical power, ala France which provides 80% of its electricity through nuclear. That simply makes sense and politicians who ignore it do so at risk of our country.

    However, short-term measures such as opening ANWR would be less effective than most people believe. First, it would take several years for that oil to come online, and oil futures are typically traded iwith a three month window. Secondly, as I pointed out above to the guy whose answer is "crooked politicians," unless you dramatically increase supply, you will not dramatically decrease prices, as we operate in a global economy and thoughts of keeping the oil for ourselves at lower prices are nonsense.

    Certainly, opening up these areas to drilling would cause a drop in the price of oil, purely from the psychological effects, but probably not as much as you indicate, as experts believe that only a maximum of 50% of the rise is due to speculation. Assuming the increase is $70 and the speculative component amounts to $35, then the actions you suggest might knock 30% off that, netting a drop of around $10-$15. None of these actions, however, address the key factor in the rise, the weakness of the dollar. Get the dollar back to close to parity with the Euro and you would see oil drop down to around $90 a barrel.
    One type of exploration that you might not be aware of is the use of CO2 injected into old (capped ) oil wells. It is projected that there is 30 to 40 per cent remaining in these old wells. The problem is getting the CO2 to the wells. This type of exploration is in the early stages in MS, LA, TX. Denbury is building a pipeline from MS to TX. My brother and I own mineral rights where those wells are located. In a year or two, the black gold will start flowing.

    Up until 10 or 15 years ago, natural gas was very cheap. Now, not so cheap. It is a clean and safe energy source. In AK the natural gas that comes out of the wells is pumped back into the ground because there is no pipeline to bring it to the states. The oil companies, Canada & the US government do not want to pay for the construction of the pipeline because of the cost. If the government had spent a small part of the energy bill that has been spent on renewable energy in the last several years, we would have natural gas coming out of our ears resulting in less dependence on oil and from a cheaper energy source. As an added benefit, natural gas could be used to cook the corn into making that stupid Ethanol rather than oil.
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  7. #37  
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    Quote Originally Posted by lacarnut View Post
    One type of exploration that you might not be aware of is the use of CO2 injected into old (capped ) oil wells. It is projected that there is 30 to 40 per cent remaining in these old wells. The problem is getting the CO2 to the wells. This type of exploration is in the early stages in MS, LA, TX. Denbury is building a pipeline from MS to TX. My brother and I own mineral rights where those wells are located. In a year or two, the black gold will start flowing.

    Up until 10 or 15 years ago, natural gas was very cheap. Now, not so cheap. It is a clean and safe energy source. In AK the natural gas that comes out of the wells is pumped back into the ground because there is no pipeline to bring it to the states. The oil companies, Canada & the US government do not want to pay for the construction of the pipeline because of the cost. If the government had spent a small part of the energy bill that has been spent on renewable energy in the last several years, we would have natural gas coming out of our ears resulting in less dependence on oil and from a cheaper energy source. As an added benefit, natural gas could be used to cook the corn into making that stupid Ethanol rather than oil.
    you mean these type???


    there are literally thousands of these old wells setting idle nationwide. I used to drive across Kansas/colo and see these the whole trip. long abandon.
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  8. #38  
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    Quote Originally Posted by namvet View Post
    you mean these type???


    there are literally thousands of these old wells setting idle nationwide. I used to drive across Kansas/colo and see these the whole trip. long abandon.
    Yep, I think and hoping that these old wells have a lot of oil left in them. Denbury has gotten a lot of oil out of the ones in MS and is moving west with their pipeline. As long as oil stays above $60 per barrel, this type of exploration is very profitable. Denbury's stock has risen 100% in the last year. I sold most of mine because the stock has risen too fast and am waiting for it to drop in price.
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  9. #39  
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    Quote Originally Posted by lacarnut View Post
    Yep, I think and hoping that these old wells have a lot of oil left in them. Denbury has gotten a lot of oil out of the ones in MS and is moving west with their pipeline. As long as oil stays above $60 per barrel, this type of exploration is very profitable. Denbury's stock has risen 100% in the last year. I sold most of mine because the stock has risen too fast and am waiting for it to drop in price.
    I remember when I was a kid going on trips. i saw these pumping all over the country. mainly in farmers fields. by the thousands. it was sad to see OPEC shut em down.

    but. check out this video. you may wanna check out your backyard !!!! man finds oil on his land

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  10. #40  
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    Quote Originally Posted by Cold Warrior View Post
    Unless people here think that drilling in ANWAR and other areas is going to dramatically increase the world's oil supply in the short term, there is no reason to think that such activities will dramatically lower the price of oil. Unless, of course, you believe that the oil companies will sell oil to Americans cheaper than world market prices (and if you believe that, there's a bridge...).
    Drilling in ANWR alone would not accomplish a whole lot, but it is not ANY single oil field that matters, it is the off limits areas as a whole.

    If we were drilling in all of the areas we have available, it would indeed have a significant impact on the world market.
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