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House approves bill to lift US drilling ban

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posted on May, 12 2011 @ 04:14 PM
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reply to post by marg6043
 


I just saw CEO of Chevron interviewed by Neil Cavuto and he said they pay royalties plus they paid 13 billion in taxes last year, try again. Here is a little halp try using a thing called Google.




posted on May, 12 2011 @ 04:17 PM
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reply to post by marg6043
 


If you are so against big oil you must throw almost everything out of you house that is petroeum based including your computer and walk everywhere. Oh, whats that you wont do that you rely on those on those products hmmm.... I see.



posted on May, 12 2011 @ 04:20 PM
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Originally posted by professornurbs
reply to post by Chewingonmushrooms
 


Oh thats insanity? I thought insanity would be protecting a kingdom of 14th centuray a$$ backwards muslims just to make sure we have oil. Kumbaya my friend kumbaya.


I could care less about politics based on a need to continue a lifestyle that simply isn't sustainable. Reality is going to hurt a lot of people very soon and that last thing anyone is going to be worried about some muslims in some country. No alternative fuel source (any combination of) would currently handle our consuption needs and with industrialization happening in countries like China, and India and population growth set to increase by 2 billion in 10 years what do you think will happen?



posted on May, 12 2011 @ 04:23 PM
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reply to post by Chewingonmushrooms
 


I am all for alternative fuel sources dont get me wrong, but the technology isnt there. I think I heard the earth regenerates 3% oil a year, so as far as running out I believe we are along way off.



posted on May, 12 2011 @ 04:26 PM
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reply to post by Chewingonmushrooms
 



Couldn't agree more with you. It was amazing when I did a research paper regarding our dependency on oil. Approximately 75% of a barrel of refined oil is used for transportation. The rest of it we use for commodities such as paint, plastic, crayons, etc.. As our population increases so does our reliance on this oil. Drilling offshore will only prolong our inevitable collapse. The oil should be saved for our commodities and not used for fuel, due to the limited resource.

The Union of Concerned Scientist release a report on "how oil works" in 2010 stating that if the world were to use 65 million gallons of oil a day we could sustain ourselves for the next 60-70 years. To top it all off they estimated that about 200 million gallons of oil was lost due to spills. It just doesn't seem smart to keep drilling, when it will only provide a temporary solution.. Just my take on it. I think we should invest our time and energy into wireless energy, free for all. Granted no one will make money on it, but should we really have to pay for energy that we all use on a daily basis?



posted on May, 12 2011 @ 04:39 PM
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reply to post by cloud333
 


Again the alternative fuel supply isnt perfecetd yet. See link below.
www.windaction.org...



posted on May, 12 2011 @ 04:50 PM
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reply to post by professornurbs
 


Yes I am against big petroleum companies I believe natural resources should belong to the people not private entities profiting no only from the resources but also from the people.

You know, I understand your post very well and I am very polite something that has allowed me to be in this side for many years, I can take a good debate and resentment from members, it seems you don't like me calling big oil,l mafia, I will ad also pimps and dirty pockets, because that is what they are.

You know I am very nice person when treated right.

Be polite.



posted on May, 12 2011 @ 04:53 PM
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Utterly absurd. Increases our production by, maybe, 1%. Does nothing to reduce prices or decrease our oil dependence, and the ecological downfall is huge. But, hey. We won't be happy til we kill ourselves off so I guess we might as well go down in flames.

Oh. And let's be sure to increase their tax subsides!!!! /s



posted on May, 12 2011 @ 04:59 PM
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reply to post by Scytherius
 


The last time the government try to do this same thing, the results of openning to more drilling oponents brought up some good points, this will only benefit the oil mafia companies, their land grab and more tax payer money for surveys and incentives.

It will take decades for anything been drilled to even benefit us if any benefit will come our way.



posted on May, 12 2011 @ 05:09 PM
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reply to post by Scytherius
 


The potential is there that our untapped oil would be way over 1% increase. I know this is an old article but it puts into perspective how much oil we have yet to tap into.

www.newsweek.com...


The mission: to discover a way to safely and economically extract fuel from oil shale, a type of sedimentary rock found in Wyoming, Utah, and especially Colorado's Western Slope. The potential windfall is staggering. Studies over the years by industry and government alike estimate that there may be between 800 billion and more than one trillion barrels of oil locked up in these rocks--nearly three times the known reserves in Saudi Arabia. That would be enough oil to supply America for the next 400 years.


I know this all hinges on figuring out how to do this extraction safely, but if it is succesful we are set for oil for centuries.



posted on May, 12 2011 @ 05:19 PM
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reply to post by marg6043
 

I am polite! That is why I called you friend. I just thought it was absurd when you said "the people dont get 1 single dime from the oil companies" Just because someone disagrees with you doesnt mean they are being rude. I just merely suggested you you research a topic before spouting half cocked ideas in your head. By the way I could care less what you call oil companies for I have no dog in that fight, your hatred for them is your own business.

edit on 12-5-2011 by professornurbs because: (no reason given)



posted on May, 12 2011 @ 05:27 PM
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Originally posted by professornurbs
reply to post by marg6043
 


"Yes, oil companies reap billions of dollars in incentives from tax dollars and still they do not give a dime back to the people."

Are you serious? You do know the oil companies besides taxes have to pay royalties to drill on US land and coast line. Maybe a little research before posting next time friend.



Yep exxon paid 15 billion in taxes to the rest of the world -- the US not so much Then we subsidize them (we are actually paying them to search for 17.oo /bbl oil because you cant make money at 17,oo/bbl - I guess you cant make money when oil is 100.oo/bbl either). And how much do we owe BP for thier splendid performance..

Have you come up with exactly how much oil we are talking about that is going to ameliorate our oil dependency??



posted on May, 12 2011 @ 05:45 PM
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Originally posted by Chewingonmushrooms
Insanity. With all the environmental damage done through regular drilling, and the infant stage of off shore drilling knowledge along with the disastrous BP gulf spill (one of the worse, if not THE worse environmental disasters of all time) when will anyone learn? Our addiction to oil is out of control, to the point that we would rather die and take every living thing on this planet along with us then adjust to a new post fuel world (which will hurt but is inevitable). Straight insanity.

People need to take peak oil seriously. If we aren't running out of oil why are we drilling with more costly, risker methods and putting more energy into what we extract?
edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)

edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)

edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)


It's not that we hate the environment, it's not that we only support oil, it's that there is no cost effective and efficient replacement for oil.

According to the USEIA (US Energy Information Administration), in 2009, 69% of electricity was generated through burning fossil fuels which includes petroleum, coal, and natural gas, while wind and solar generated less than 2%.

If someone were to develop or discover a cost effective and efficient replacement for oil, I would gladly jump on that ship. The truth however is that no such alternative exists, and environmentalists can hug all the trees they want, it won't change this fundamental truth.

Moreover, it seems as though the environmentalists are hell-bent on destroying any sufficient source of energy we have. We cannot burn coal, natural gas, or petroleum derivatives because they are dirty. We cannot use nuclear energy because of the radiation risks. We cannot use hydroelectric plants because they destroy water based ecosystems. Some would turn to biofuels with the others being eliminated, but this doesn't make sense either. It seems rather idiotic to use land for growing fuel instead of food, and especially as the world's population increases, and more and more people are starving. Therefore the only sources remaining are wind and solar.

It aggravates me to no end when people talk about electric cars being the future. Really? Where does that energy come from? While that may remove the pollutants emitted by automobile exhaust, it places that burden on the already strained electric grid. By forcing the burden on the electric grid, more fossil fuels will have to be burned to make up the difference. Thus, the environmental gain by reducing automobile exhaust is offset or increased by forcing the electric grid to burn more fossil fuels.

This doesn't include all the plastics and advanced materials derived from petroleum either. Some might say we can use corn to make plastics now. Once again, is it smart to waste farmland for crops not intended as food?

Renewable and green energy sources are no where near cost effective nor sufficient to replace oil and other fossil fuels as the primary energy source, it's a farce. We must protect the environment, however we can't survive with such militant environmentalism, and we will have to remove their blocks to producing more energy. We will have to find ways to more oil, or a cost effective and efficient alternative to it, otherwise we are all heading towards a dark age the likes of which hasn't even been fathomed.
edit on 12-5-2011 by Royalkin because: Clarification



posted on May, 12 2011 @ 05:46 PM
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reply to post by professornurbs
 


Calm down the horses there "friend" I do my research very well, now if you have anything else good worthy to say then be my guess and stop targeting me, I guess the oil mafia dirty pimps got you bad.

they together with the whores in congress do not care about America at all.



posted on May, 12 2011 @ 05:51 PM
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Originally posted by professornurbs
reply to post by Chewingonmushrooms
 


I am all for alternative fuel sources dont get me wrong, but the technology isnt there. I think I heard the earth regenerates 3% oil a year, so as far as running out I believe we are along way off.


Did you read my post? That was exactly what I was saying.


No alternative fuel source (any combination of) would currently handle our consumption needs and with industrialization happening in countries like China, and India and population growth set to increase by 2 billion in 10 years


And please source 3% per year increase. If we are going into deeper and deeper water drilling (based on very little knowledge look to BP oil spill for reference), chance starting a world war by preemptive attacks on oil rich countries (pissing off Russia and China), and are using tar sands extraction what do you think that means? Why would we chance all of that if oil simply regenerates? Check out Crash Course (the link I supplied deals mostly with peak oil, but the whole course is good)


Collapse



edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)




It's not that we hate the environment, it's not that we only support oil, it's that there is no cost effective and efficient replacement for oil.


See my quote above.
edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)



posted on May, 12 2011 @ 05:57 PM
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reply to post by marg6043
 

Targeting you? Since when is debating an issue targeting? LOL!!!



posted on May, 12 2011 @ 05:57 PM
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Originally posted by Chewingonmushrooms[/i



It's not that we hate the environment, it's not that we only support oil, it's that there is no cost effective and efficient replacement for oil.


See my quote above.
edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)


And I quote myself, "...[W]e are all heading towards a dark age the likes of which hasn't even been fathomed." If peak oil is true, we are all screwed.



posted on May, 12 2011 @ 05:58 PM
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Well going back to the "house approves bill ot lift US drilling ban" getting into it I just found out that Obama will not be very gracious about having this bill passed.

He is actually against lifting any bans at all, because he is all for alternative energy.

Interesting.

www.nottheanswer.org...

Now this is interesting, how oil mafia barons get away from not paying taxes but they get billions on subsidies, so much for them paying royalties and taxes.

www.oil-price.net...


Here's a simple question in Economics: If Exxon Mobil, the largest U.S. energy company, made a profit of $35 billion, and if the income tax paid is $15 billion at a tax rate of 47%, how much did it pay to the IRS? The answer is, according to a report published recently in Forbes magazine, zero.

How come the results when 47 percent of the profit had been paid as taxes? Well, it helps to have wholly owned subsidiaries domiciled in countries such as Bermuda, Cayman Island and Bahamas to pipeline cash flows from operations in Azerbaijan, Abu Dhabi and Angola.

The report, as expected, created a huge outcry in the media as well as among the general public when it detailed the taxes paid by corporations in the US last year. Truly, Exxon is not alone. GE submitted a mammoth 24,000-page tax return and managed to avoid income tax for profits worth $10.3 billion last year.

Likewise many companies though benefiting from corporate welfare in the U.S., use tax shelter practices to send their earnings overseas. According to a report by the Government Accountability Office (GAO), 2008, two out of three US companies paid no federal income taxes from 1998 through 2005. The report had covered 1.3 million corporations in the US with collective sales of $2.5 trillion.

So to the important question: Is it illegal to do so? No, not at all, in fact, it's well within the purview of law. Under Net Operating Loss Carry forwards (NOLs), if a company makes a profit of, say, a million this year but incurs a loss of a million the next year, the previous year's loss could be tallied against the gain. Thus a company could get a zero tax liability in the US. It's the same story in the case of foreign tax credit too.


How can they get away with this? very simple, they buy whores in congress.

Oil and Gas,


This industry, which includes multinational and independent oil and gas producers and refiners, natural gas pipeline companies, gasoline service stations and fuel oil dealers, has long enjoyed a history of strong influence in Washington. Individuals and political action committees affiliated with oil and gas companies have donated $238.7 million to candidates and parties since the 1990 election cycle, 75 percent of which has gone to Republicans.

Though former oilmen George W. Bush and Dick Cheney occupied the White House for eight years, the oil and gas industry could not win support for repealing bans on drilling in the Arctic National Wildlife Refuge. However, Congress voted in 2008 to lift a ban on offshore drilling. These companies are also wary of cap-and-trade climate change legislation, such as the measure Democratic President Barack Obama supports. Yet Obama still received $884,000 from the oil and gas industry during the 2008 campaign, more than any other lawmaker except his Republican opponent, Sen. John McCain (R-Ariz.). [Read more Background]


www.opensecrets.org...

Yes, Oil mafia gets all the support it needs in congress but will Obama stop the ban on oil drilling from happening?



posted on May, 12 2011 @ 05:59 PM
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Another really good lecture having to do with exponential growth and population.





reply to post by Royalkin
 


Totally true. Either way if people don't take this seriously massive amounts of people will die. We can either try our best to adjust, and change our whole way of thinking and living (massive die offs will still happen, but hopefully not as much), or we can continue and kill off massive amounts of people along with the environment and most life on this planet. Whatever choice the future is quite grim.

edit on 12-5-2011 by Chewingonmushrooms because: (no reason given)



posted on May, 12 2011 @ 06:08 PM
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reply to post by Chewingonmushrooms
 


I know what you were saying, I was agreening with you on the technology point of view. I think it was on a sunday morning talk show that I heard the 3% quote. I cannot remember which one it was off hand because it was like 8 months ago, but to think oil is finite is not accurate.
edit on 12-5-2011 by professornurbs because: (no reason given)



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