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Bush Urges Congress to Lift Offshore Drilling Ban

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posted on Jun, 18 2008 @ 04:16 PM
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reply to post by centurion1211
 



exactly, the fat cats know the more oil there is in the market the less they can rake in, supply and demand.

greedy basterds




posted on Jun, 18 2008 @ 04:18 PM
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reply to post by marg6043
 

What are you babbling about?
How is Bush responsible for the current price of oil?

OPEC, speculators and other countries are setting the price of oil, not Bush. Bush is saying he wants to finally allow drilling again in the U.S.; so how is this a bad thing?



posted on Jun, 18 2008 @ 04:24 PM
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Originally posted by bodrul
reply to post by centurion1211
 



exactly, the fat cats know the more oil there is in the market the less they can rake in, supply and demand.

greedy basterds

The problem with that theory is that it's not necessarily true. For starters, if the price gets to high then people will conserve, then they make less money because of the reduction is sales.
Another point is that oil companies make their profits from quantity of sales. They make only about 8 cents per gallon. So, if the price of oil comes down due to more drilling then people will use more and their profits will increase.



posted on Jun, 18 2008 @ 04:45 PM
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reply to post by WhatTheory
 


you dont watch the news much do you?
each time there is low Oil or something people go out like higeaners and grab what they can, drying up fuel stations in hours.

they know less there is the more people will run out and fill up to last.
oil is basicaly the backbone of society.

getting produce to markets and stores and getting most people to work.



posted on Jun, 18 2008 @ 04:50 PM
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Originally posted by bodrul
reply to post by WhatTheory
 


you dont watch the news much do you?
each time there is low Oil or something people go out like higeaners and grab what they can, drying up fuel stations in hours.

they know less there is the more people will run out and fill up to last.
oil is basicaly the backbone of society.

getting produce to markets and stores and getting most people to work.

So what?
That still does not make my point any less true. People can still use less and conserve.



posted on Jun, 18 2008 @ 04:50 PM
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Exactly where are all of the oil refineries that are going to process this oil?

Think about that.


Where do you then think that oil will go once it is pumped out of the ground? Can you say foreign markets and a new earnings stream for American big oil?

[edit on 18-6-2008 by loam]



posted on Jun, 18 2008 @ 04:51 PM
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reply to post by loam
 

Well of course we will have to build new refineries also.



posted on Jun, 18 2008 @ 04:58 PM
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reply to post by WhatTheory
 


Um, at best, that is a six or seven year process to build a single refinery.

Given the current circumstances, why would anyone attempt to change their earnings profile by investing in a refinery?

Folks just don't get that there is no economic incentive to do that right now. In fact, the incentive is to do the opposite.



[edit on 18-6-2008 by loam]



posted on Jun, 18 2008 @ 05:21 PM
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So I have a question for the Obamatrons out there.

What exactly is Obama proposing that is going to alleviate high gas prices?

What he's done so far is criticized McCain for playing turncoat on his position to drill (which I think is suspect as well), but he proposes the windfall profit tax and sinking $150 billion into researching renewable/alternative energy over 10 years.

First of all, the windfall profit tax is going to raise pump prices because oil companies will raise their prices to compensate for the tax. The only real winner is the government.

The research into renewable energy is great, except he says over 10 years, and then there's no promise that any usable products will come out of that research. Where is that $150 billion coming from? Taxpayers, you can bet!



posted on Jun, 18 2008 @ 05:53 PM
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reply to post by WhatTheory
 


The only one babbling is you that have no clue as the meaning ofregulations yes they are proposed and pass by congress, so far none of the oils men starting in the white house with bush and then congress has done a darn thing.

No even use our own oil to alleviate the crunch on the American budgets.

Deny Ignorance.



posted on Jun, 18 2008 @ 05:56 PM
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reply to post by sos37
 


I really careless about what Obama or McCain are going to do, see is in the last eight years of the present administration that we have an oil crisis, so, what Bush and the present congress going to do about it.


Oh, yes Bush wants congress to lift Offshore drilling, guess what who do you think is going to pay for he cost.



posted on Jun, 18 2008 @ 06:21 PM
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Originally posted by loam
Um, at best, that is a six or seven year process to build a single refinery.

So what?
If we do nothing, what will the cost of oil be in six or seven years? The point is we need to get the ball rolling now! BTW, it can be done in 4-5 years.



posted on Jun, 18 2008 @ 06:23 PM
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Originally posted by marg6043
The only one babbling is you that have no clue as the meaning ofregulations yes they are proposed and pass by congress, so far none of the oils men starting in the white house with bush and then congress has done a darn thing.

No even use our own oil to alleviate the crunch on the American budgets.

I have no idea what you are saying. Please try and string a coherent sentence together.



posted on Jun, 18 2008 @ 06:24 PM
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Originally posted by marg6043
Oh, yes Bush wants congress to lift Offshore drilling, guess what who do you think is going to pay for he cost.

Umm.....U.S. citizens by having lower gas costs.

Do you even know how the economy works?



posted on Jun, 18 2008 @ 06:35 PM
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I think this is the ONLY good idea he's had in years. He's trying to save his outgoing rep for the history books.

It would be great if we were more self sufficient when it came to oil but supply isn't the problem at the moment. The problem is irresponsible, unchecked and unregulated speculation.



posted on Jun, 18 2008 @ 06:56 PM
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Originally posted by WhatTheory
So what?


Vapor ware.



Originally posted by WhatTheory
If we do nothing, what will the cost of oil be in six or seven years?


Who said do nothing? I'm just pointing out that drilling isn't the 'something' that solves the problem.


Originally posted by WhatTheory
BTW, it can be done in 4-5 years.


Nice that you pulled that one out of the air.


But here is an actual example based on reality:




June 6, 2008

Elk Point, SD has accomplished what has been attempted for over 30 years. They have successfully passed a referendum that will allow the building of a new oil refinery. Scheduled for completion in 2014, it will refine 400,000 barrels of Canadian Crude per day.



My math says six years....and that assumes everything goes "according to schedule."




[edit on 18-6-2008 by loam]



posted on Jun, 18 2008 @ 06:57 PM
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reply to post by WhatTheory
 


What, this is the best you can do when things do not add to your rant? go after people"s grammar to make them feel insecure.

Guess what, you have a lot to learn about the make over of the people that visit ATS, see, no everybody had perfect grammar or dominate the English language like you.


Because no everybody that visit this boards were born in America with English as their first language.

At least I can speak and write in two languages.


You are no the first one or will be the last one to pull one of this lines on me




[edit on 18-6-2008 by marg6043]



posted on Jun, 18 2008 @ 07:00 PM
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reply to post by WhatTheory
 


Really, show me how much is going to save and how soon if, only if for the benefit of the consumer.

Remember tax payer will be paying for the drilling.


If no oil is found, tax payer still will get the bill.

I guess you have not learned anything yet when it comes to the way our corporate ridden government works.


[edit on 18-6-2008 by marg6043]



posted on Jun, 18 2008 @ 07:01 PM
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reply to post by marg6043
 


Ignore his rudeness.

Marg you are AWESOME!



posted on Jun, 18 2008 @ 07:09 PM
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This is all BS who's gonna profit from this? because it sure isn't gonna lower the price of gas. I don't have a problem with evoirnmental issues I have a problem who gonna profit from it.

What we're gonna drill these new wells and sell it cheaper then what it goes for on the market? BS greedy oilment won't sell the stuff for any less then what their getting for it now.




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