Oil's Nosedive Shows Up at the Pump

[North Carolina Tentmaker]

Just think of the drop if congress would drop their drilling ban.

 

[donnA]

We filled up for $3.61 last night

 

[Revmitchell]

Just think of the drop if congress would drop their drilling ban.

Since the Dems do not want the price to go down they will never support that.

 

[Bible-boy]

down by about 10 cents here, we actually saw gas for $3.76, and I paid $3.86 yesterday, a week ago though we paid $3.96, so I guess it down a total of 20 cents

Yep,

I have paid as much as $4.06/gal here in NC. Yesterday I paid $3.80/gal. I am still holding out for a price back around $2.00/gal! I keep hounding my NC Senators to get Congress to move on legislation that will allow for domestic drilling. If you have not done so please join me in signing the petition at http://www.americansolutions.com . Drill Here, Drill Now, Pay Less.

 

[North Carolina Tentmaker]

Since the Dems do not want the price to go down they will never support that.

The people could force them to. If their districts realize they are keeping the price high how could they be re elected? Who would support someone who votes for high prices and continued dependence on the middle east. I know we voted for them before, but it did not seem as important when gas was $2 or less.

 

[Bro. Curtis]

And that point is why the MSM is keeping their mouths shut about this supposed "landslide democrat sweep" coming up in Nov. They are on the losing side of the biggest issue this election, and they know it.

 

[windcatcher]

According to a recent last month by Lindsey Williams, who wrote the espose, THE ENERGY NON CRISIS back in the 80's,, two large oil fields are coming in soon; one in Indonesia and the other is Russian. There is an agenda in motion to glut the market with cheap oil for a time: For those countries which were coerced into buying our debt and marketing their oil with its value tied to the American dollar in an agreement with our government to give us first priority (Saudi Arabia), this will devastate their economy and may destabilize the precarious position of their government with their people. The anticipated result is that these and other nations will start unloading the paper debt which they[ve bought from us before it goes to no value: While the American people will dance at the pumps over the lower price, we will not be aware that we are dancing at the wake over the loss value of our money, and the break in our economy.

We have all the oil we need within the ground of our country.....enough to last us with anticipated growth for over 200 years. Yet our government is classifying the oil finds, and constructs regulations, permits, fines, etc. to enforce their control over the oil and the companies which pump it. They classify the finds as 'secret' and instruct the companies to cap or turn back the supply of wells. They tell us stories about the 'huge' profits by the oil companies; They do not tell us that they have made a noose around the oil companies necks with their control and their coercion, to drive them into debt: While they report and discuss the 'profits' of the oil companies, they don't tell us about the cost of permits, the cost of delays, and the tremendous fines they've imposed on the oil companies in the present and in the past..... which have required tremendous debts and which are not allowed to be written off, fines, debt, interest. They hope to inflame the American people to accept nationalizing of the oil. Control the oil.....control the people.

Likewise, we've been accustomed to accepting that we have plenty of food. We have in the past. But recent events are more than hand writing on the wall. We have a government which has made corn grown for ethanol more valuable than the corn that's needed to feed the people. In an illlogical solution to the 'energy crisis' (which is also generated by our government) we use fields, and more energy for the chemicals and the production of the corn, and to convert it into alcohol than the end product gives in return. Actually, the energy off of gas cut with alcohol is less than uncut gas. We have floods and disasters in the bread basket of America where both wheat and corn is grown..... yet no adjustment to the corn to ethanol consortum.

There's an out break of bacteria believed to be in fresh produce; At the top of production and demand, tomatoes are falsely targeted. Produce is tested and fields are 'quarantined' sort of ...... the fears grow among the people by the reports: the restuarants stop serving tomatoes; grocers stop selling or the market declines; truckers have trucked in loads to receivers who wont accept; product brokers refuse to engage the product for market; and the farmer can no longer afford to gather to throw away his crop: he cannot afford to let it sit ungathered as that promotes establishing disease in the crop and in the soil which will ruin future crops: He has no choice but to burn his field and investment: Finally, our good ole' government agencies, which the church and the schools and good folks like my parents, taught us to trust, decide 'maybe its not the tomatoes' just maybe 'its the peppers' or.........may be not?????? But the tactics between misinformation which is spread by media, has done its job well. Some farmers will not recover: Some Americans will irreparably distrust the government. And why should we? Its evident the government doesn't trust us to make decisions. They inform us selectively about what they want us to know....which is more and more appearing 'what they want us to believe' rather than the truth.

Our police force is turning from 'officers of the peace' who enforce laws and stop criminals, to militarization: Our military 'overstock' is sold or given as grants to police forces all accros our country. It's a big affair to brag about the tanks and other equipment some departments have amassed. It is so exciting, in fact, that opportunities.....unnecessary opportunities, are taken to demonstrate a 'show of force' to all the public. Swat teams are called to present a peaceful warrant; the citizen is threaten and treated like a criminal....or worse, like a combatant..... and the people are tested: Will they get the message and accept it.......... or will they rebuke, protest, and publish, and in any other peaceful way possible try to stop the progress of power against the citizens by the government?

Bottom line: Trust God always. Don't trust man!

 

[Revmitchell]

The people could force them to. If their districts realize they are keeping the price high how could they be re elected?

The constitients agree with them. The movement to raise prices on oil goes beyond those in congress.

Who would support someone who votes for high prices and continued dependence on the middle east.

The point in higher prices is to decrease oil use.

I know we voted for them before, but it did not seem as important when gas was $2 or less.

At this point some are moving toward more drilling who opposed it before.

 

[Baptist in Richmond]

Just think of the drop if congress would drop their drilling ban.

I am afraid that simply isn't true. Think about how long it would take to get that oil with offshore drilling, or with drilling in ANWR.

My question would be: why are the oil companies not drilling on the public lands where they already have leases? If drilling is the answer, we need a new person, a "Lease Marshall." The Lease Marshall will evaluate the geological reports from the oil companies on the land in question. If they believe that there is oil there, they have a certain time frame to drill, or at least implement significant steps to commence drilling. If the oil company does not make any progress, then they forfeit any claim to the lease, and the government will recapture any tax breaks that were gained as a result of the lease in question. Before we start drilling in ANWR, or off the coast, we need to be certain that there aren't oil reserves already there which aren't being utilized.

Additionally, any petroleum extracted from these leases will be bought at market prices....NO EXCEPTIONS. That oil belongs to the people, and the people should be getting fair market value. The money gained as a result of this new policy should be earmarked for infrastructure: bridges, roads, national parks, etc., which have been neglected for far too long. All those public works projects will help to get a lot of people working as well.

Of course, we know that won't happen, at least not with the current Administration.

Regards, hope all is well in NC,
BiR

P.S. A quick little weekend trip to New Bern would really nice......
:laugh:

 

[Baptist in Richmond]

Don't forget the Weather.

Good point!

Regards,
BiR

 

[KenH]

1) Think about how long it would take to get that oil with offshore drilling, or with drilling in ANWR.

2) My question would be: why are the oil companies not drilling on the public lands where they already have leases?

3) Additionally, any petroleum extracted from these leases will be bought at market prices

1) The psychological impact alone would be enormous and drive the price down quite a bit. Also, if we don't start drilling now and get that oil online in the next 5-7 years just think how high the price will be 5-7 years from now.

2) Oil companies tend to drill where the commerically viable pools of oil are are, not where they are not. Even at that 2 of every 3 exploratory wells are dry holes.

3) That is already done on public lands. I know it for a fact as I am have been involved in fulfilling information requests during audits by the Minerals Management Service(MMS). The MMS is very, very particular about the price that it receives for crude oil extracted from public lands.

 

[KenH]

Oil hits 7-week low on demand worries, dollar gain

Watch out below!

http://biz.yahoo.com/ap/080729/oil_prices.html

 

[YOUTUBECANBESAVED]

BiR good idea!

"BiR"
"My question would be: why are the oil companies not drilling on the public lands where they already have leases? If drilling is the answer, we need a new person, a "Lease Marshall." The Lease Marshall will evaluate the geological reports from the oil companies on the land in question. If they believe that there is oil there, they have a certain time frame to drill, or at least implement significant steps to commence drilling. If the oil company does not make any progress, then they forfeit any claim to the lease, and the government will recapture any tax breaks that were gained as a result of the lease in question. Before we start drilling in ANWR, or off the coast, we need to be certain that there aren't oil reserves already there which aren't being utilized."


Not drilling on 64 million acres and then making a grab for ANWR is a poor excuse.

and I don't care if a democrat,republican, or libertarian brought up the 64 million acres it is factual and oil companys should be asked to "get to work"

Energy wise I am for renewables because they stay here, they renew, they keep us out of middle east wars and we get to keep trillions of dollars.:thumbs:

 

[Bro. Curtis]

I've allready challenged you on this. Why would the oil compamies leave this oil you say exists, in the gound ? How do they profit from this ?

 

[KenH]

oil companys should be asked to "get to work"

1. Oil companies are already working. Do you have any idea how hard it is to drill for oil and how expensive it is? I do. I even spent two summers working in an oil field and one summer working in a gas plant. So I know it from that angle as well as from the accounting angle. Oil companies are working feverishly every year to try to replace the reserves that they are extracting from existing fields. The closing off by government of the most attractive areas for oil drilling makes the job way, way, way, way harder than it should be.

2. Why should oil companies drill where there are not commercially viable quantities of oil to be extracted? It would be the height of irresponsibility for oil companies do such.

 

[NaasPreacher (C4K)]

I almost feel like this is off topic now. Seems to me we were talking about oil price drops affecting the pump price.

Anyhow, the price drop starting showing up yesterday - I only paid $7.65 a gallon.

 

[North Carolina Tentmaker]

I am afraid that simply isn't true. Think about how long it would take to get that oil with offshore drilling, or with drilling in ANWR.

My question would be: why are the oil companies not drilling on the public lands where they already have leases? If drilling is the answer, we need a new person, a "Lease Marshall." The Lease Marshall will evaluate the geological reports from the oil companies on the land in question. If they believe that there is oil there, they have a certain time frame to drill, or at least implement significant steps to commence drilling. If the oil company does not make any progress, then they forfeit any claim to the lease, and the government will recapture any tax breaks that were gained as a result of the lease in question. Before we start drilling in ANWR, or off the coast, we need to be certain that there aren't oil reserves already there which aren't being utilized.

Additionally, any petroleum extracted from these leases will be bought at market prices....NO EXCEPTIONS. That oil belongs to the people, and the people should be getting fair market value. The money gained as a result of this new policy should be earmarked for infrastructure: bridges, roads, national parks, etc., which have been neglected for far too long. All those public works projects will help to get a lot of people working as well.

Of course, we know that won't happen, at least not with the current Administration.

Regards, hope all is well in NC,
BiR

P.S. A quick little weekend trip to New Bern would really nice......
:laugh:

The reason prices drop so quickly when the politicians take action is because the market price is driven by the speculators. Because of the futures market and how it works just the threat of new sources of oil 4 or 5 years down the road is enough to move prices down now.

I like your idea of a lease Marshall. If the current lease holders don't think a piece of property is commercialy viable and they don't want to drill there that is fine, but lets give the lease to somebody who will.

The current oil companies are making lots of money and would like to keep the prices up. While they would love to increase their production and make even more money they don't want to let the price drop. The ones with the most to gain in this current situation are the wildcaters and independent companies. Give some of them a shot at these oilfields and they will develope them.

. . . Who do you know in New Bern?

 

[KenH]

While they would love to increase their production and make even more money they don't want to let the price drop.

Not so. Demand destruction is taking place and alternative forms of energy are gaining favor. This is not good for the long term health of oil companies.

 

[Revmitchell]

I like your idea of a lease Marshall. If the current lease holders don't think a piece of property is commercialy viable and they don't want to drill there that is fine, but lets give the lease to somebody who will.

If one company spent money exploring and discovered the proprety was not viable for drilling what would make another company want to come along and make the same mistake?

 

[billwald]

They will not start drilling on leased land until BP and Dutch shell hold all the leases.