Comments on: Oil Prices Hit New High Over $141 A Barrel

Dollar's Relentless Freefall Sends Investors Flocking To Oil As A Hedge, Upping Its Value

[guad07rg]

Guad: the oil companies say a lot of the profits they are making are going into development. My question is where and what are they developing. That is what corporations do, invest in development. Trouble is, I just see empty results from their efforts. They will not even build new refineries. A year or so ago, price shot up because they did not have refining capacity. The list of excuses goes on and on.

Posted by BajaJohn1 at 02:46 PM : Jun 27, 2008

And do you know whey they cant build new refineries...
Every time they try to expand they get taken to court
by the ecofacists, and some judge will come up with a
reason why its going to harm some 3 titted squirel
so they cant build it.

[xyno-2009]

Hose: Oil companies are posting record profits. They have 68 million acres of federal leases. Tell them to go drill.

Posted by BajaJohn1 at 02:11 PM : Jun 27, 2008

==========================

First, a company may lease property, but never have the funds to properly explore it or drill an exploratory well. Second, after paying for further tests (such as seismic), they often decide the lease isn%u2019t worth the high, high costs of drilling after all. Or they may hold onto the lease for years until either higher oil prices or new technology makes it feasible to drill. Third, a company may lease property but drill on another tract (which drains a %u201Cpool%u201D that covers multiple leased tracts), so perhaps they%u2019re counting it as %u201Cnot used%u201D if no well is sunk on that particular piece of property. Fourth, they may try to drill and be blocked by government bureaucrats, environmental lawsuits, etc.

Finally, not all acres are alike. Some have lots of oil. Others have virtually known. Saying they%u2019re not drilling for oil everywhere is like faulting them for not digging a gold mine on every acre.

http://www.okpns.com/2008/06/18/the-truth-on-unused-oil-leases/

[msay3]

????????? What freaking planet do you live on?

Posted by skyhawk761 at 02:40 PM : Jun 27, 2008
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I''m sure he lives on the planet FUBAR!!!! LMAO!!!!!

[bobnjersey]

[Make your choice - party politics or DRILLING NOW!!!!!]
[Posted by hoseobama at 02:06 PM : Jun 27, 2008]

''drilling now'' (in all caps) is party politics.

[lochlan-2009]

BajaJohn1

BTW, you should have only lost about $30. Unless you had broker fees you added in too.

[actornaught]

Posted by hoseobama at 02:30 PM : Jun 27, 2008

Obviously you missed the point, Baja was right.

You need to get the facts right: there''s ALREADY plenty of undrilled, leased areas. Go drill there.

[deacon20081]

Congress had better act and outlaw speculation in the markets. If they refuse to do so, we have to get them out of office. Every law maker can be impeached by his or her State and they had best remember that fact.

[guad07rg]

Guad: There is a rather substantial tax at the pump which benefits both the state and federal governments. Lately, the oil companies are making more off the fuel. The U.S. government is 9 trillion in debt--and that means us, the taxpayers.

Posted by BajaJohn1 at 02:32 PM : Jun 27, 2008

So you just answered my question..the Government makes
a hell of a lot more on Gas than the oil companies.
So hows is raising more taxes on the Oil Companies going to lower the price at the pump? Its not..
It will just go into the general fund like your Social
Security Taxes and get slushed off to some Pet Projects to keep the incumbents in power...Its not
a solution..The only solution is to come up with alternative sources of fuel. ..But that is a long way
off...In the meantime you need a bridge to get the prices under control..That means sources that we have the technology now to produce...Oil shale, Nuclear,
Clean Burning Coal, and yes more domestic Oil. But you
know what the dems dont want that to happen because they want you dependent on them. Just like the socialists in Europe

[skyhawk761]

Point of FACT, your democrats have controlled both the House and Senate for the last four years and I sure don''''t see any improvement.


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Posted by tmcattack at 02:37 PM : Jun 27, 2008
+ report abuse

????????? What freaking planet do you live on?

[skyhawk761]

I don''t like either one of the clowns running either, but McCain has promised to continue what Bush has been doing the past 7 + years and I do know that isn''t working worth a dam so Obama is the lesser of the two evils.

[msay3]

msay: That makes two of us.

Posted by BajaJohn1 at 02:35 PM : Jun 27, 2008
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I''m sure there are many more of us around...

[misands]

I use to think both political parties are the same, but I don''t think like that anymore. It is amazing how bad off our country is now after 7 years of Bush. Everything was so much better when the Democrats were in charge. I can''t really see voting for a Republican for a long long time.

[msay3]

BajaJohn1, You are right...My dilemma is that neither candidate represents what I am comfortable with....

[skyhawk761]

.....correction...I said Sr. senator Obama, I meant Jr. senator Obama....Not that it really matters, Jr., Sr, he still has no experience when it comes to running this country....


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Posted by msay3 at 02:24 PM : Jun 27, 2008
+ report abuse

And W had what kind of experience before taking the reigns of the White house? Don''t say Texas because he left it in the s hitter and don''t mention his business dealings because all of them were FUBAR by the time he either sold or left them. So please tell me of his experience.

[guad07rg]

guad07; Recently oil execs testified before Congress over their immense profits. One execs stated that of 36 billion in profits received the year before, 22 billion went into development. I wonder where?

Posted by BajaJohn1 at 02:04 PM : Jun 27, 2008

Bah hah who makes more off a gallon of gas ..the oil
companies or the US government...Do you know the
answer? If you said oil companies ehhhhhhh you are wrong.

[hoseobama]

"Excuse, you''re right. - actornaught

Thank-you. Now, please contact your representative to let them know the same.

[lochlan-2009]

lochlan: Today the exchange rate is $ 10.09 pesos for one dollar. Maybe, your chart to needs to be updated or better yet, corrected.

Posted by BajaJohn1

We''re saying the same numbers. I''m saying how many dollars it takes to get a peso, you''re saying how many peso''s it costs to get a dollar. If you would like to go your path, three months ago it cost 10.60 pesos to buy a dollar now it costs 10.30 pesos to buy a dollar.

[singingrick]

"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." %u2014Washington, D.C., Aug. 5, 2004



I used to think that this was just another stupid Bush gaff. But now it''s looking like he was actually being honest for a change.

[msay3]

.....correction...I said Sr. senator Obama, I meant Jr. senator Obama....Not that it really matters, Jr., Sr, he still has no experience when it comes to running this country....

[actornaught]

Posted by BajaJohn1 at 02:11 PM : Jun 27, 2008

Excuse, you''re right. Clarifying my prevous post, allowing MORE unused acreage for drilling IS Pary Politics.

So, hoser, tell them to go drill...