Beware of what you ask for. Most peoples retirement funds have lots of investment in the oil companies. There is nothing wrong with them making billions. The problem lies in our president not allowing drilling of our own resources here but then doubling down and giving BILLIONS to other coutnries to drill where we are NOT allowed ( the Gulf). That is deliberate Harming of this countries economy. In 2008 when Bush said start drilling in the Gulf the prices went from $140/barrel down to $40/barrel in 8 weeks. Tell me the President doesn't have the power to effect prices. When Obama stop the drilling in the gulf prices started up sharply.

ELECTIONS MATTER!!!!

 

I paid 4.35 yesterday.
For 87 octane

 

haha! she has a chevron card so thats where she gets her gas. so the family is welcome to her discounts at carrs

 

You're wrong about that...to summarize it...

An Insignificant Impact

The United States already allows off shore drilling in the Gulf of Mexico, where oil and natural gas are relatively easy to extract.

The EIA found that, as of 2003, there were about 40.92 billion barrels of technically recoverable undiscovered crude oil in the Gulf of Mexico. In contrast, there are only 18.17 billion barrels of crude oil in "off-limits" offshore areas in the Pacific, Atlantic and a small portion of the eastern Gulf of Mexico. So why not drill where it is currently legal and supplies are greater?

Allowing offshore drilling in off-limits areas would only increase production by about 3% within the United States by 2030. The EIA found that since oil prices are determined on the international market, the additional offshore oil would have an "insignificant" impact on the world price of oil.

Think You Know John McCain?


Oil tumbles $4 on slumping demand
Inventory report shows higher-than-expected stockpiles of crude and gasoline, as demand for oil products slumps. Bearish Fed Beige Book worries traders that demand destruction will continue.

Last Updated: July 23, 2008: 3:15 PM EDT



Gasoline stockpiles increased, even as refineries operated at 87.1% of their operable capacity last week, down from 89.5% the prior week.

That's because demand for gasoline in the United States has fallen 2.4% from the same period last year, according to the EIA report. In a weekly pump spending survey conducted by MasterCard, demand for gas in the United States fell last week for the 13th week in a row.
Oil sinks on supply report - Jul. 23, 2008



We've been here before and until folks get serious we'll keep coming back...here's a film by 2 Republicans that gives you an idea of what's going on...
Hulu - GasHole - Watch the full movie now.

If you've done any background on the industry you'll see the info presented here mostly pans out...the guy with the story about the Ford pinto I find to be questionable...



And may I be banned to the darkest corner of the internet if I ever post anything political again on this forum...

 

I would like to see some figures comparing average crude prices for a given period when crude was lets say $80 a barrel compared with the average price per gallon we paid for that same period and compare that to the oil companies profit for that period. Then compare the same figures at todays high prices and see if the profit margin is the same or are we being raped. I know there are probably other factors to take into consideration but it still should be proportional, right? It should not be that hard to figure. Our gas in my area (in the same town of about 7000 people) ranges for 87 octane from $3.899 to $4.099. These are stations in a 2 mile radius.

 

If you watch that movie I posted a link to above you'll see that we are clearly being raped...they show the how and why....

 

4.59 for Super Unl. in Queens NY (Ouch) but if you want A Big Truck then you'll sacrifice right

 

Have these ratios changed in 10 yrs?

 

Drilling offshore and inshore WOULD AFFECT our gas prices signifantly. You never said how many holes or where. I would bet we have enough oil in and around the US to support the US for many many years. Obama has a moratorium on drilling right now and he and everyone else are afraid of the enviornmentalists and other nay sayers. It's a crisis! Lets do something about it. (I should have been president).

 

Just watch the movie there's a lot of solid information there...one of the things mentioned is that a Shell Oil scientist predicted that America will reach it's peak in oil production in the 70's....hence the extensive importing, other research will tell you that oil companies have extensive oil lease contracts all over this country, that they aren't even using...

One of the things you have to do when looking at this issue is forget about the politics of it...the right and left issues and talking points are just a sideshow or a distraction....both sides have been bought and paid for...

We are being raped and it's being done on purpose...more drilling and environmental issues really have no bearing...look into it....

 

[quote=smurfster;10290139]Just watch the movie there's a lot of solid information there...one of the things mentioned is that a Shell Oil scientist predicted that America will reach it's peak in oil production in the 70's....hence the extensive importing, other research will tell you that oil companies have extensive oil lease contracts all over this country, that they aren't even using...

One of the things you have to do when looking at this issue is forget about the politics of it...the right and left issues and talking points are just a sideshow or a distraction....both sides have been bought and paid for...

We are being raped and it's being done on purpose...more drilling and environmental issues really have no bearing...look into it....[/quote]
I can't agree with that last sentence. I see no reason to "look into it" I hate politics and have no tolerance for political retoric. It's just common sense that; we need oil; so let's start drilling. Yes it is that simple.

 

[quote=EXv10;10290193]It's not that simple....look into it...and you will see...drilling has very little to do with the pricing...if we opened up 1000 drills tommorrow on shore/offshore wherever it would take 10 years for it to have any impact on the market...that fact is widely known...

The pricing at the pump has little to with the price of oil...it does have an impact but not as much as you think...what you see is wall street speculation...not the actual cost the oil companies are paying for oil, they pay a lot less then what's posted on the exchange...like I said look into it...it will make you sick..and you will find out that everything you have been led to believe is incorrect...just watch the movie and do your own research from there...or you know what screw the movie...just dig into it a little bit...I guarantee you'll be surprised...

 

$4.18 today....was $4.15 yesterday.

 

now long now tell people cant afford to go to work! oh well ! what u gonna do. United States of Welfare. u can thank that chimp in charge.

 

[quote=smurfster;10290216] I'm not going to look into it and be sidetracked by political hogwash. My good common sense that has prevailed continously over the years tells me to drill heavily NOW. So what if it take 5 or 10 years, just the act of doing it will bring the prices down.