I am very amazed at the lack of knowledge on part of the ATS audience when it comes to oil commodities. I have read through some of the posts here and have to say WOW.

Venezuela makes up about 15% of oil supply to the U.S. The rest of our supply comes mainly from OPEC, Alaska, and the Gulf area (a measly 500,000 a day) of Mexico.

After our success in taking the 2nd largest land mass oil field on the planet (Iraq) and establishing our pipeline through Afghanistan connecting the U.S. from Asia to the Caspian Sea and our 40 year contract with Kazakhstan, Uzbekistan, Turkmenistan, I think we are in good position for the future. Well not the citizens of the United States but the oil companies and their affiliates such as Halliburton and KBR. And you thought we were looking for WMD's or maybe didn't like that guy named Sadaam who we put in power. Yes he was a very bad man just like all the bad men we have setup in power since the 60's.

Has it ever registered that Chevron Texaco (did I say Texas?) is the American British oil conglomerate, which by the way, just purchased Unocal for about 16 billion.

Running out of oil? Lets look at the current reserves shall we?

Strategic Petroleum Reserve Inventory for April 08, 2005

Current Inventory

Sweet - 277.4 million bbls
Sour - 411.0 million bbls
Total - 688.4 million bbls

Royalty-in-Kind to be Delivered - 11.5 million bbls

Currently the U.S. consumes about 10 million barrels a day.

Saudi Arabia can produce up to 12 million barrels a day and boasts she'll be spitting out oil for the next 100 years. Their reserve is about 250 billion bbl - and not up for speculation. Ghawar, in the Persian Gulf, current proven reserves are 12% of the world's total. The field produces 5 mbd, which is 6.25% of the world's oil production. Running out soon? I don't think so. Asian continents such as Uzbekistan, and Kazakhstan former Soviet occupied countries, are just entering the oil race.

So if we have all this oil why are the prices so high?

In U.S. corporate bids for oil through war and whatever means possible under the leadership of Cheney we have severely pissed off OPEC and Venezuela. In fact President Chavez of Venezuela has had several attempts of assassination, not by us of course. We are currently in the process of staging coups to oust him and have been for quite some time. Foreign countries are not as dumb as our leaders would have us believe. In fact maybe if Americans saw news coverage of the major oil suppliers to the U.S., which we don't and will not, we might grasp the big picture of whats going on. Why don't you ever hear of news in Venezuela when they account so much for our economy? Float that in your brain.

President Chavez has vowed to squeeze America's gas prices for Bush's tactics in conquering the oil market. Why don't we see this advertised on CNN? Thats why your gas prices are so high, on top of the Muslims being pissed that we are trying to out do OPEC. On one hand they boast enough production to run us daily on the other hand they cut production - get it? Doesn't take a genious to walk into your average gas station and realize this ain't no American family running the show.

The oil companies such as Exxon, Halliburton and Chevron Texaco are seeing the greatest profits this century and their future directors, Bush and Cheney family, are planning for enjoyable retirements. The American families are being screwed and will continue to be screwed for as long as the Saudi's and Venezuelans have control over the minds of commodity brokers in the pit. This will be for some time as commodity trading is based off surplus, or rather he who holds the largest contracts. Corporations are attempting to change the power of oil control to fuel the Chinese market and maintain price regulation over our own economy regardless of the cost to American finances. However, the Saudi's, who were nomadic travelers just 100 years ago, have fueled the U.S. economy with black blood and will continue to do so. This year oil prices will dip. Sell short on a six month contract.

Feel your gajolies being squeezed? Thank the republicans and thank them for spending our social security surplus on a B.S. war to gain more oil fields that cause Americans to pay $2.40 at the pump. It's always been that irresponsible rich kids with power, lacking the knowledge of their fathers, destroy lives just like Edsel Ford back in the 1930's. Doesn't matter that he was manipulated and sold, he's still responsible for the results.

Originally posted by vincere7
I am very amazed at the lack of knowledge on part of the ATS audience when it comes to oil commodities. I have read through some of the posts here and have to say WOW.

The oil companies such as Exxon, Halliburton and Chevron Texaco are seeing the greatest profits this century and their future directors, Bush and Cheney family, ...

It doesn't seem to play well with the audience to first disparage their intelligence and then commit a fairly significant act of revealing you have not done your research.

Halliburton is not an "oil company". Halliburton is an oilwell servicing company. The only way they can make more money from higher oil prices is if the "oil companies" drill more wells, or request more production enhancement services. They do not make money off the price of oil otherwise.

[edit on 4-9-2005 by Valhall]

You looked at the history of Halliburton a time when welding oil wells was the initiative. That has been long dead. Halliburton has a long list of subsidiaries including Exxon. They do profit from oil prices very much so. How unfortunate that Americans are ignorant of the very corporations who suck the life blood from our sons and daughters.

"The only way they can make more money from higher oil prices is if the "oil companies" drill more wells, or request more production enhancement services. They do not make money off the price of oil otherwise."

If you do not wish to have your intelligence disparaged post information that does not display otherwise.

mod edit: removed double post

[edit on 4/9/2005 by Gools]

Play nice.

Going around calling everyone stupid is no way to have constructive debate.

Originally posted by vincere7
You looked at the history of Halliburton a time when welding oil wells was the initiative. That has been long dead. Halliburton has a long list of subsidiaries including Exxon.

Exxon is their subsidiary? Tilt! No, they are not. Exxon is their customer, as is every other major and mom and pop producer and operations company.

They do profit from oil prices very much so. How unfortunate that Americans are ignorant of the very corporations who suck the life blood from our sons and daughters.

No...they don't. I just explained how they don't. The only way Halliburton can make a single cent more from higher oil prices is if their customers (i.e. in your circles subsidiaries ) request more oilwell services. At the same time, we have to be fair that Halliburton's major competitors in the well-servicing industry, Schlumberger (you know, that French company?) and BJ also are in this same group. The well-servicing companies have the same bite as all the rest of us, as fuel prices go up, their costs go up, they don't have their own oil/gas to compensate.

"The only way they can make more money from higher oil prices is if the "oil companies" drill more wells, or request more production enhancement services. They do not make money off the price of oil otherwise."

If you do not wish to have your intelligence disparaged post information that does not display otherwise.

I have no problem with having a statement I make questioned - with logical discourse. When you're ready to proffer some, I'll be here.

I never said Exxon was a mere servicing contract, as you suggested to the audience. Halliburton provides much more than servicing oil wells as I pointed out. You for some reason have a diificult time accepting this fact. Why, I have no idea? Their Directors, such as Cheney in the past, are Directors for various corporations which of course drill oil. It's opublic information to look at a list of their Directors. Also public to see a list of their subsidiaries of which they own - corporate or family.

Thats the whole point of this post - to educate individuals such as yourself to reality. The president himself stated publically that the reason for the hike in gas prices was due to our consumption versus our surplus - which of course is a complete fallacy.

The post was not about Halliburton or their dirty hands, but rather to point out that we are not currently short on oil and this so called "shortage" is not the reason of high gas prices, but a result of White House policy on foreign relations with Venezuela and OPEC.