Some big oil fact's ????

[BamaAlum97]

Re: Some big oil fact's ????

That was my 100th post! Wohooo...am I a somebody now?

 

[Captain Paul]

Re: Some big oil fact's ????

Yes you are BamaAlum97

 

[Vlad D Impeller]

Re: Some big oil fact's ????

ANWAR & offshore drilling got shot down again today.....
But they did vote to stop stockpiling the strategic reserve......
This country needs term limits before we are a third world country.....
That is all....

We agree on term limits.

 

[BoatBuoy]

Re: Some big oil fact's ????

Anyway. I feel that the current high prices of gas and oil are less related to the supply of oil and more related to the decreasing value of the dollar. If you revalue the dollar to what it was years ago, oil prices are back down to a more comfortable level. The frequent cuts in interest rates encourage spending and borrowing and therefore increases the supply of dollars and drives the value down.

Exactly! (Not bad for a 'Bama alum)

As I posted in another thread:

In May of 2005, if a barrel of oil (or any other commodity) cost 60 euros, it would cost $76.92 in US dollars due to the then current exchange rate. That's how much our precious dollar has de-valued. In 2000, it would have cost a bit over $67.00USD roughly. I wonder what happened.

 

[Tail_Gunner]

Re: Some big oil fact's ????

You folks are killing me. I like "Big Oil" as you so disparagingly relate to an industry that is such a vital interest to this country, an industry that is probably the biggest contributor to the high standard of living which we as Americans so enjoy.
When i voted for President Bush (twice) i knew that i was voting for what i regard as what is in the best interest of this country.
The energy companies in America are not the ememy as is so often potrayed in the many posts that i've read on this board recently.
Your biggest enemy is yourself. Think about it seriously folks.

OK i am trying not to be to much of a smart A@@ here, but this is your country. Some times i am at a loss why people would think any business has any type or sovernity in the USA. No other place on earth allow's a business to prosper and the individuals with in it the corp that is.

Ohh and by the way so are your elected offical's and they are a snooty bunch... and have reminded more than one my check book is bigger than his ..arrogant statment but that is what it took until she would listen..

Let Exxon go off shore.. for the luv of god....the Co has existed for hundred's of years and owes everything that it is to your great grand father and the millions of americans who have so given so geneorsly


Umm by the way the any time they tried that some world dictator would put a gun at there head and take them all... an just who do you think would bail them out,,, The UN...

 

[Limited-Time]

Re: Some big oil fact's ????

Ohh and by the way so are your elected offical's and they are a snooty bunch... and have reminded more than one my check book is bigger than his ..arrogant statment but that is what it took until she would listen..

???? TG I followed this thread up until this statement.

 

[Vlad D Impeller]

Re: Some big oil fact's ????

OK i am trying not to be to much of a smart A@@ here, but this is your country. Some times i am at a loss why people would think any business has any type or sovernity in the USA. No other place on earth allow's a business to prosper and the individuals with in it the corp that is.

Ohh and by the way so are your elected offical's and they are a snooty bunch... and have reminded more than one my check book is bigger than his ..arrogant statment but that is what it took until she would listen..

Let Exxon go off shore.. for the luv of god....the Co has existed for hundred's of years and owes everything that it is to your great grand father and the millions of americans who have so given so geneorsly


Umm by the way the any time they tried that some world dictator would put a gun at there head and take them all... an just who do you think would bail them out,,, The UN...

Exxon may have started out as an American company, today ExxonMobil is truely a Global/Multinational company whose earnings are spread out across the globe, and whose share holders are from many countries.

As far as "snooty elected officials" go, one needs to remind oneself that they were elected, then ask oneself who elected them.

My great grand father would have never heard of Exxon, he died in the Boer war.

 

[v1_0]

Re: Some big oil fact's ????

and this one from EIA -
http://tonto.eia.doe.gov/country/

What I found very interesting was a comparision of the consumption figures and the production figures. (They are all for the top 10 consumers, so incomplete. Yet: )

Consumption: 59,095 thousands of barrels per day.
Production : 63,608 thousands of barrels per day.

Looks to me like there is 4,513 thousands of barrels per day extra production.

So much for supply and demand.

-V

 

[kenimpzoom]

Re: Some big oil fact's ????

Anyone here remember the Dot.bomb era? Stocks were way overvalued based on hype. That is what is currently happening with crude oil prices. And just like the dot.bomb, oil prices will crash too.

Big oil can set the supply, consumers set the demand, and the traders set the prices based on that supply and demand and add a bunch of feelings.

To lower prices, big oil can increase supply, consumers can reduce demand, or traders can stop using their feelings and look at the actual supply and demand.

Ken

 

[Limited-Time]

Re: Some big oil fact's ????

WOW.............a KIZ sighting in the celler and in a Big Oil thread no less. Nice to see'ya drop in once and a while.

 

[BamaAlum97]

Re: Some big oil fact's ????

So much for supply and demand.

-V

Supply and demand still applies...but it's not the supply/demand for oil that is the problem. It's the American Dollar. The supply is way up (thanks to low interest rates and excessive borrowing). Demand has remained roughly constant. Therefore, the value of the American dollar has decreased. Meaning it requires more of our hard earned American dollars to purchase things such as oil.

 

[OldMercsRule]

Re: Some big oil fact's ????

Double post: sorry. JR

 

[MikDee]

Re: Some big oil fact's ????

Hmmmmmmm, interesting tread here.

So since ANWAR is such a small little bitty potential oil field we should not drill there ya say? Hmmmmmmmm, funny logic, (or is it logic)?

China is drillin' off the Coast of Florida but our own domestic oil companies can't, (must be the same reasoning as with ANWAR, eh)?

The potential oil discoveries off Florida could not solve the entire supply for the whole world forever so we should never do that n' jus' let the Chinese find and use the oil right under our nose.

I guess I now know how Alice felt when she slipped through the ol' lookin glass.

I guess that make sense somewhere in the Universe.

JR

Hey JR you're back haven't seen you around in ages? but it's a nice to see ya, and I like your point of view here "China drilling, right under our noses"

 

[OldMercsRule]

Re: Some big oil fact's ????

Hmmmmmmm, interesting thread here.

So since ANWAR is such a small little itty bitty potential oil field we should not drill there ya say? Hmmmmmmmm, funny logic, (or is it logic)?

China is drillin' off the Coast of Florida but our own domestic oil companies can't, (must be the same reasoning as with ANWAR, eh)?

The potential oil discoveries off Florida could not solve the entire supply for the whole world forever so we should never do that n' jus' let the Chinese find and use the oil right under our nose.

I guess I now know how Alice felt when she slipped through the ol' lookin' glass.

I guess that make sense somewhere in the Universe.

JR

 

[OldMercsRule]

Re: Some big oil fact's ????

Hey JR you're back haven't seen you around in ages? but it's a nice to see ya, and I like your point of view here "China drilling, right under our noses"

Hey Mike! I'm still kickin', n' lurkin' and postin' here n' there from time to time. It is rare that I get a chance to post to an interesting thread as they are usually locked before I see them!!! JR

 

[SgtMaj]

Re: Some big oil fact's ????

ANWAR & offshore drilling got shot down again today.....
But they did vote to stop stockpiling the strategic reserve......
This country needs term limits before we are a third world country.....
That is all....

Wait, we STOPPED stockpiling the reserve entirely? That's HUGE!!! WOO HOO!!! Gas will be commin' down if you're tellin the truth.

ooo, just thought of something... it can still be veto'd, right?

 

[JB]

Re: Some big oil fact's ????

Getting too close to political, here, guys. Careful.

And before anyone starts shreiking that Exxon Mobil is evil for making 10 billion bux in profit in the first quarter, that was on 400 billion bux gross revenues. About 10% annual, which puts them somewhere in the middle of the 500 biggest corps in the world.

 

[BoatBuoy]

Re: Some big oil fact's ????

The potential oil discoveries off Florida could not solve the entire supply for the whole world forever so we should never do that n' jus' let the Chinese find and use the oil right under our nose.

Actually, it makes no difference to me. Crude is a world commodity rather than a domestic commodity. Whether it's the Chinese, Exxon-Mobile, Phillips, BP, ACE Hardware, or Wal-Mart, it's gonna be sold on the world market at the going rate. We're all going to pay the pump price, whatever that is. If Exxon-Moblie misses out on a few mil, too bad.

 

[OldMercsRule]

Re: Some big oil fact's ????

Actually, it makes no difference to me. Crude is a world commodity rather than a domestic commodity. Whether it's the Chinese, Exxon-Mobile, Phillips, BP, ACE Hardware, or Wal-Mart, it's gonna be sold on the world market at the going rate. We're all going to pay the pump price, whatever that is. If Exxon-Moblie misses out on a few mil, too bad.

OH I see BB, yer OK if China drills in ANWAR it's jus' those nasty American Oil Companies that ya wanna put out of bidness? Hmmmmmmmmmmmmm.

I know logic is not the strong point of some people when they think or opine, (to the extent anybody "thinks" that is ), about Econ 101 and basic supply demand principals. That said, don't ya think there would be downward movement in the price if the worlds largest cornsumer nation allowed the world's best oil companies, (ya know: Chevron Texico, Exxon Mobil, Conoco Phillips n' the rest) to agressively find new oil fields right here in America?

Novel corncept: increased supply or even the "expectation" of increased supply might just have a DRAMATIC effect on the price of oil. (BTW: I don't mean it would go up).

Ah but that would not serve the old ajenda of higher oil prices ta garner greater support fer "change" now would it???? JR

 

[SgtMaj]

Re: Some big oil fact's ????

Actually, it makes no difference to me. Crude is a world commodity rather than a domestic commodity. Whether it's the Chinese, Exxon-Mobile, Phillips, BP, ACE Hardware, or Wal-Mart, it's gonna be sold on the world market at the going rate. We're all going to pay the pump price, whatever that is. If Exxon-Moblie misses out on a few mil, too bad.

The reason it matters is that part of the price is the devalued dollar, the dollar wouldn't be so devalued if we were bringing in an extra hundred billion a year to the US economy. Even if it does go to a large corp, some goes to taxes, and some goes to workers, and some goes to buy equipment from other US companies, and some goes to US (and forein US) investors, and all of that is better than nothing, especially when you're talking about such large numbers.