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$75 oil...

quote:

Pains at the Pump April 29, 2006; Page A8 "If $75 a barrel oil and a $3 average for a gallon of gasoline isn't a wake-up call, then what is?" -- Senator Charles Schumer (D., N.Y.), April 23, 2006. Yes, that's a fine question Senator Schumer asks. But a wake-up call for what, exactly? A wake-up call to produce more domestic oil? Heaven forbid. In fact, Mr. Schumer and most of his Democratic colleagues in the Senate -- the very crowd shouting the loudest about "obscene" gas prices -- have voted uniformly for nearly 20 years against allowing most domestic oil production. They have vetoed opening even a tiny portion of the Arctic National Wildlife Refuge in Alaska to oil and gas production. If there is as much oil as the U.S. Geological Survey estimates, this would increase America's proven domestic oil reserves by about 50%. [Hot Topic] HOT TOPIC Soaring Gas Prices Hit Washington1 They have also voted against producing oil from the Outer Continental Shelf, where there are more supplies by some estimates than in Saudi Arabia. Environmental objections seem baseless given that even the high winds and waves of Hurricane Katrina didn't cause oil spills in the Gulf of Mexico. In the 1970s the environmentalists and their followers in Congress even protested building the Alaska pipeline, which today supplies nearly one million barrels of oil a day. If they've discovered some new law of economics in which a fall in output with rising demand can cause a reduction in price, we'd love to hear it. The dirty little secret about oil politics is that today's high gas price is precisely the policy result that Mr. Schumer and other liberals have long desired. High prices have been the prod that the left has favored to persuade Americans to abandon their SUVs and minivans, use mass transit, turn the thermostat down, produce less consumer goods and services, and stop emitting those satanic greenhouse gases. "Why isn't the left dancing in the streets over $3 a gallon gas?" asks Sam Kazman, an analyst at the Competitive Enterprise Institute who's followed the gasoline wars for years. Scan the Web sites of the major environmental groups and you will find long tracts on the evils of fossil fuels and how wonderful it would be if only selfish Americans were more like the enlightened and eco-friendly Europeans. You will find plenty of articles with titles such as: "More Taxes Please: Why the Price of Gas Is too Low." Just last weekend Tia Nelson, the daughter of the founder of Earth Day, declared that even at $3 a gallon she wants gas prices to go higher. [Tax on Mobility] At least Ms. Nelson is honest about wanting European-level gas taxes. We doubt that many American voters would be as enthusiastic. If you think $3 a gallon is pinching your pocketbook, fill up in Paris or Amsterdam, where motorists have the high privilege of paying nearly $6 a gallon thanks to these nations' "progressive" energy policies. (See nearby chart.) However, you can be sure you won't hear that from Democrats or Northeastern Republicans on Capitol Hill -- at least not in public. Far from it. They're suddenly all for cutting gasoline prices, just as long as that doesn't require producing a single additional barrel of oil. We haven't seen this much insincerity since the last Major League Baseball meeting on steroid abuse. So how do the sages on Capitol Hill propose to reduce gas prices? They want to slap a profits tax on Big Oil because of alleged price gouging. Here we have another head scratcher that seems to defy even junior-high-school economics. Usually when you tax something, like tobacco, you get less of it. But somehow a tax on oil will magically lead to more oil. As a Harvard study has shown, when the U.S. imposed a windfall profits tax in 1980, prices rose to an inflation-adjusted range even higher than today, and domestic production fell. As for claims of "gouging," the price of gasoline at the pump in the U.S. has risen 25% less than the rise in the global price of crude oil since 2003, according to Wall Street economist Michael Darda. We've also heard proposals to force the oil companies to cut the pay of their CEOs to $500,000. That's about what Kobe Bryant makes for a handful of basketball games, but even if the salaries were chopped to this level -- and all of the savings passed on to consumers -- the gas price would fall by at most one-tenth of a penny. In any case, CEO pay is an issue to be resolved by shareholders, not Congress. Which brings us to the Bush Administration, which is bludgeoned daily by the likes of Mr. Schumer, whose real concern is exploiting an issue that might elect a Democratic Senate in November. Meanwhile, the White House refuses to attack the left's anti-consumer energy policies and has even capitulated on requiring a rise in auto fuel-efficiency standards. Mr. Bush could instead be talking about the national and economic security need for a pro-domestic-production energy policy -- starting with drilling in Alaska. It's worth reminding the American public that in 1995 the Republican Congress passed an ANWR production bill, which Bill Clinton vetoed because he said it could be five to 10 years before the oil would be produced. We would have that oil today if Mr. Clinton had signed that bill. Instead we have rising gas prices and record dependence on foreign oil. Is that enough to spur Congress to act on ANWR and deep-sea production? If not at $75 a barrel and $3 a gallon, Mr. Schumer, then when?

I can't wait to buy my new hybrid

Got rid of my car about 9 months ago. My commute is about an hour instead of 30 minutes but I now have time to do extra work or read a good book. Plus I have no clue what the price at the pump is nowadays ... $3 really??? Hahahaha suckers ... best decision I ever made.

More drilling, more refineries won`t help. Its the demand that needs to be addressed- 10mpg SUV are not helping.
Then there is China.....

All the idiots in Wasington are doing is blaming each other, same old shit.

Some google nfo:
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http://www.eere.energy.gov/afdc/alt...properties.html
http://www.ethanol.org/talkingpoints.html
http://pubs.usgs.gov/fs/fs-0028-01/fs-0028-01.pdf
http://pubs.usgs.gov/fs/fs-0028-01/
http://arctic.fws.gov/issues1.htm
http://www.csmonitor.com/2005/0921/p11s02-usec.html
http://www.csmonitor.com/2005/0921/csmimg/p11b.gif
http://www.eia.doe.gov/pub/oil_gas/...ent/import.html
http://www.ctj.org/pdf/energy05.pdf
http://www.biodiesel.org/pdf_files/...Myths_Facts.pdf
http://www.kk.org/cooltools/archives/000456.php
http://www.biodieselsolutions.com/p...fuelmeister.asp

The petroleum industry has been getting too many tax breaks ect- The bill, HR 6, includes $14.5 billion in new tax breaks.

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The United States uses about 7 billion barrels of oil a year
- Ken Leonard, a senior manager at the American Petroleum Institute.

"We're talking about 10 billion barrels of domestic oil"(ANWR)-Ben Lieberman is a senior policy analyst in the Thomas A. Roe Institute for Economic Policy Studies at the Heritage Foundation.


The USGS�s 1998 assessment of oil and gas resources in ANWR estimates with 95 percent confidence that 5.7 billion barrels are technically recoverable. On the other end of the probability scale, the USGS estimates there is a 5 percent chance that 16.0 billion barrels are technically recoverable. The 50-50 estimate is 10.3 billion barrels. Most of the economically recoverable oil lies to the west of the Marsh Anticline in the undeformed region closest to the existing network of roads and pipelines that support the oil rigs of the developed North Slope. That region is thought to contain about 2.6 billion barrels of economically recoverable oil.
http://www.agiweb.org/geotimes/may01/anwr.html
***********************
For the past two decades, deregulation and low profits have combined to push the industry into consolidation. Partly because of environmental regulations, it was cheaper to expand existing refineries than to build new ones. In 1981, the US had 324 refineries with a total capacity of 18.6 million barrels per day, the Department of Energy reports. Today, there are just 132 oil refineries with a capacity of 16.8 million b.p.d., according to Oil and Gas Journal, a trade publication.
************************************

In a 1999 speech he gave while still CEO of Halliburton, Cheney stated:

By some estimates, there will be an average of two-percent
annual growth in global oil demand over the years ahead,
along with, conservatively, a three-percent natural decline
in production from existing reserves.That means by 2010 we
will need on the order of anadditional 50 million barrels a
day.

Andrew Gould, CEO of the giant oil services firm Schlumberger, for instance, recently explained the global decline rate may be far higher than what Cheney predicted seven years ago:
"An accurate average decline rate is hard to estimate, but an
overall figure of 8% is not an unreasonable assumption."
-----------------
Shell geologist Dr. Marion King Hubbert,a world-renowned geologist, in 1956 he predicted that domestic crude oil production would peak between 1965-70. It happened in 1970. In 1961, he warned that domestic natural gas production would peak in about 1977. It happened in 1973. He worked for the U.S. Geological Survey from 1963 thru August 1976.

Umm, please pray tell why won't REFINING and therefore PRODUCING more oil won't help?

Look on the bright side. If the gas prices go any higher small cool european hatchbacks like those below might finaly catch on

I'm already looking forward to those companies such as Fiat, Opel, Pueget, Smart, Ford Ka and Volkswagen to export those dope hatchbacks here. 1.2 enginges = own.

High oil prices are in many ways good, primarly because it stimulates alternative-energy research like nothing else.

Democrats are fucking idiots when it comes to this though I totally agree...

quote:

Originally posted by St_Andrew High oil prices are in many ways good, primarly because it stimulates alternative-energy research like nothing else.

Bingo!
Fact is, the greatest motivator and means to change behavior is economics. Thus, to change our energy habits, just make the energy really expensive...

Politicians make lots of noise that they're all in favor of doing something to "help their constituents", but its
all mere rhetoric. The oil in Alaska, there isn't enough there to make much difference other than to the people that would profit by pumping it out. See links I posted.

The price of gas will reach whatever its worth, eventually sales wil decrease and the prices will fall slightly and level off.

I hear alot of complaining about gas prices but don't see anyone changing their habits. I still see plenty of oversized SUV's and trucks with only one person and no cargo.

This is not just a demand equation - supply factors into price.

The USA sits on potentially the largest oil reserve in the world -> the Gulf Coast. Yet drilling has been tightly controlled there.

Alaska also offers a good source of domestic energy, had ANWR passed under Clinton (as the article mentions) production would have come into play around now easying our crunch.

As for those claiming that "oil price high = good", as a shareholder of Exxon I wouldn't disagree, but the rational to change to alternative energy and compensate society for the "damage" created by oil should be a money taxed and going directly to the environment (i.e. as done with tobacco) not necessarily the oil companies...

quote:

Originally posted by Yoepus As for those claiming that "oil price high = good", as a shareholder of Exxon I wouldn't disagree, but the rational to change to alternative energy and compensate society for the "damage" created by oil should be a money taxed and going directly to the environment (i.e. as done with tobacco) not necessarily the oil companies...

That is highly unlikely to happen in the US though since it would be political suecide there. And as it is now no one can really blame the politicans for the high oil prices (although that does happen anyway), plus the oil companies invest more money into research for renewable energy than the goverments would do (just look at Europe, if our stupid goverments put the gas tax into alternative energy research instead we would have solved the world energy problems long time ago...)

Lepanto wtf you need a car for

quote:

Originally posted by InterMilan31 Lepanto wtf you need a car for

Because it turns out i can't be a Pimp without one

quote:

Originally posted by Lepanto Because it turns out i can't be a Pimp without one

word

quote:

Originally posted by Lepanto Because it turns out i can't be a Pimp without one

Holla but Ive met some hotties on the R train

quote:

Originally posted by InterMilan31 Holla but Ive met some hotties on the R train

hop on the Q train, (the brighton-broadway) or the B the Q express. mad hot russian chicks who'll ride your cock and paddle your balls or nice american city girls.

quote:

Originally posted by Lepanto hop on the Q train, (the brighton-broadway) or the B the Q express. mad hot russian chicks who'll ride your cock and paddle your balls or nice american city girls.

ill be on that tomarrow...but the R Manhattan going downtown has the hot bitches from NYU and going uptown has the hot asians....but ya i need some russians lol

I cant wait hydrogen fuel cell cars.

WTF where Canada.

Were I live right now its $1.12 CDN/Liter (for regular). Thats like $3.90 US/Gallon (i think) and I think like 1/2 is tax.

quote:

Originally posted by jesteraver I cant wait hydrogen fuel cell cars.

This is basically a enviromental-friendly replacement for gasoline, not an economic one. We won't be saving money, nor losing, because it costs around the same as it would to fill up your gas tank.

quote:

Originally posted by Marc Summers This is basically a enviromental-friendly replacement for gasoline, not an economic one. We won't be saving money, nor losing, because it costs around the same as it would to fill up your gas tank.

i wonder what my mile per gallon is while walking.

How much is a gallon of water?

quote:

Originally posted by jesteraver i wonder what my mile per gallon is while walking. How much is a gallon of water?

about a buck here.

quote:

Originally posted by Marc Summers This is basically a enviromental-friendly replacement for gasoline, not an economic one. We won't be saving money, nor losing, because it costs around the same as it would to fill up your gas tank.

Hmm... kill the planet or save the planet for the same price.

Rather have cleaner air.

quote:

Originally posted by Dale Gribble Fact is, the greatest motivator and means to change behavior is economics.

For those of you who weren`t around or driving during the '70`s all of this has happened before. The embargo caused developed nations to rethink their dependence on fossil fuels,the United States government responded to the new era of expensive energy by formulating an entirely new energy policy expressed in such legislation as the Energy Policy and Conservation Act of 1976, the Energy Conservation and Production Act of 1976, the Energy Reorganization Act of 1974, and the National Energy Act of 1978. Brazil went with
ethanol and never looked back. The real kick in the balls is they are using American cars/trucks along with VW,BMW,ect. People will jump in and say `but we don`t have the infrastructure to use more ethanol, but the fact is we do and with some work can have fuel stations with a ethanol tank. The insurance for a enthanol tank is pennies compared to a gas/diesel tank due to fact that if theres a leak it will not ruin the ground water. Ask anybody in Fla who runs a gas station how tough the laws are re. fuel tanks.

again from the links I posted.

* The U.S. sits on only 3 percent of known global oil reserves yet consumes 25 percent of the world's oil. Thus America cannot drill its way to energy independence.{USGS/American Petroleum Institute both somewhat agree to those numbers}

Fuel Economy
* The first fuel economy standards were passed in 1975 in response to the oil embargo--doubling the fuel economy of American vehicles within ten years and saving America nearly 3 million barrels of oil per day (or 14 percent of today's consumption.)
* The technology exists today to make all cars, trucks, and SUVs average 40 miles per gallon. Taking this step would save nearly 4 million barrels of oil per day.

There's a better way. Clearly we need greater energy independence, but we can't drill our way there. A responsible energy policy would cut our oil dependence by increasing fuel economy of cars, SUV, and other light trucks.

I lay more of the blame on the oil speculators on wallstreet since they are the ones who set the price per barrel.

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