Comments on: Axelrod: GOP's gas price talk is "snake oil"
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- Whenever Axlerod uses his right hand, always watch what his left hand is doing.
Listening to Axlerod, Chu, and Obama, one would think we are exporting more crude oil than we import. We don't. We hardly export any crude oil.
According to US Energy Information website: For 2010, U.S. imported 3.36 billion barrels of crude oil while EXPORTING only 15.19 million barrels. Once again, our artful President misleads about crude oil exports by quoting expoert of refined petroleum products. Exports of refined petroleum products are not the same as exports of crude oil!
Obama's 2% oil reserves are "proven" oil reserves as opposed to "recoverable" oil reserves which are 20 to 100 times higher by industry estimates.
In 2011, U.S. exported $332 billion of America's wealth to buy foreign crude oil, up 32% from 2010. At this rate, we are paying out more than $1 trillion every 3 or 4 years. Why drain trillions from US economy when US has billions of barrels in recoverable oil? - Reply to this comment
- The Snake Oil is at the President, Congress and SEnate ! The average American is falling into poverty because of increasing gasoline, food prices and HEALTH INSURANCE PREMIUMS ! but my (take home) wages are going down with these higher costs ! (Health insurance premiums deducted from wages)
I have AN IDEA !!!!
My water and sewer service is with the 'local' government, meeting state and federal requirements. I pay the local government quarterly.
HOW ABOUT THE GOVERNMENT START 'OIL REFINIES" and then sell gas at 'cost'. TODAY is it not a 'commodity' for the public good just like 'water'. Everyone needs gas to get to work ! Except large, large cities with subways.. which is basically only NEW YORK.
BUILD A REFINERY.. they will come !
THe refinery in Warren PA, doesn't sell their gasoline locally, its trucked to NEW YORK CITY for big profits !
HELP AMERICA.. we're getting scammed with capitolism ! - Reply to this comment
- sandiegopete: "The demand from countries other than the United States continues to increase. The United States consumes only 20% of the crude oil produced. The current price of brent crude is $126 per barrel. That is the price set on the world oil market."
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jaygee9-2009: "Gasoline is now our number one export! Meaning we have so much of the stuff that we;d rather sell it overseas than lower our own prices."
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All true, and very hard for the BIG OIL worshipers to fathom, since they would rather just spew the usual fox/rush propaganda and attacks.
The U.S. consumption of OIL has been steadily decreasing the past few years, due to more-efficient vehicles, hybrids and EV's, and record production of biofuels -- thus reducing our imported OIL from 60% down to only 40% -- and making GASoline and other refined fuels our number one EXPORT!
This is absolute proof that producing more domestic OIL will NEVER lower the INTERNATIONAL PRICE set by the markets and OIL SPECULATORS! - Reply to this comment
- "Snakeoil," as in the manufactured Republican "war on women?" Or "Snakeoil" in the "You can keep your doctor and your plan if you like it" vein? Maybe "snakeoil" as in "We can't drill ourselves to energy independence" but we can somehow count on technology that has failed commercially at every turn. You know what, Axelrod--if "snakeoil" is a bad thing, then what the hell do you and the Dems have to run on?
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- For anyone interested in the facts rather that the political finger pointing here are a couple of interesting sites from the Dept. of Energy:
http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_a.htm
http://www.eia.gov/dnav/pet/pet_pri_spt_s1_a.htm
Compare the spot prices to the crude production. - Reply to this comment
- Axelrod is the living definition of snake oil salesman.
He is the king of the politics of destruction. - Reply to this comment
- I saw another comment saying there was 800 billion barrels of oil in the Badlands alone. I assume the reference was to oil shale.
The cost of extracting oil from oil shale makes oil shale an uneconomic proposition at the current time. In order to extract the oil from the oil shale the oil shale must be heated to about 800 degrees fahrenheit. In addition, the extraction process requires large amounts of water and oil shale usually is not located in areas where there are large amounts of water available.
I do believe some day oil shale will be providing us with a significant portion of our crude oil. But that day is a long way off and should not be factored into today's oil reserve calculations until there is a more economically feasible method of extraction or the price of crude is stabalized at a higher level than exists today. - Reply to this comment
- Nobletruth replied to me with regard to oil supplies:
" Which ever way you slice the cake more cake means each peace cost less. There is no way to get around that basic truth."
The demand from countries other than the United States continues to increase. The United States consumes only 20% of the crude oil produced. The current price of brent crude is $126 per barrel. That is the price set on the world oil market.
I continue to ask the same question: If the People's Republic of China (I keep using the PROC as an example because it is the Chinese government who has the money to pay whatever it takes) will pay $126 for a barrel of brent crude why in the world would a U.S. crude producer sell that barrel to a U.S. refiner for any less money? Why is it you think an increase in U.S. crude oil production will cause a significant drop in crude oil prices?
I can't seem to get a straight answer to the above question from any of the petroleum industry advocates. - Reply to this comment
- I find it interesting that so many people blame the political parties, Democrat or Republican, or others. The last time I was involved in the oil industry, and politicians got involved was the 1974 gasoline shortage, what a mess that was. This time it is not the politicians, it is the oil companies, and the general public. The oil industry has closed over 20% of it's refining capacity since the 1990's; and the general populous has voted down new refinery construction from coast to coast. If you are interested please read the following article: http://www.slate.com/articles/business/moneybox/2004/06/the_great_refinery_shortage.html .
Then do more reading and studying, do not depend on people who email you information that someone emailed them, That is just a modern version of an old parlor game. - Reply to this comment
- nobody is forcing the luddites to be part of modern civilization. they are all free to toss out their iPhones and artificial knees and go completely paleo stone age. plenty of room all over the place to disappear into a cave or forest.
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