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Old 05-15-2008, 04:57 PM
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Start pumping!!!!!!!!!!!!
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Old 05-15-2008, 09:49 PM
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Quote:
Originally Posted by f100supersabr View Post
That's right right out in the gulf!!!!
And your meaning???
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Old 05-16-2008, 05:32 PM
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Originally Posted by Louisiana-Oilman View Post
And your meaning???
It is in our (US) BACKYARD!!!
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Old 05-21-2008, 10:15 AM
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I just completed a class on oil investments. One of the most interesting items learned was that the strategic oil reserves are not funded by the government buying it on the open market like any other. They own land leases where the oil companies drill. Per the contracts, none of them are allowed to pay their rent with cash. Instead, 1 out of every 10 barrels drilled must be given to the US to fill the strategic reserve in lieu of cash payment. By suspending the filling of the reserve the government will instead have an IOU from the oil companies for x barrels of oil to be filled at their request in the future. So that means Exxon et al now have an extra 10%+ of oil to sell on the market. And what does that mean? It means next quarter Exxon's profits are going to grow in the 10% range. Of course that also means three months from now politicians (almost all of which will be Democrat) will complain about huge Exxon profits in a time of crisis, despite the fact that they caused this most recent growth spurt with this legislation. Of course it also means many on this board, who will be almost exclusively Democrat, will complain about Exxon's growth in profits not knowing that their party contributed to this growth.
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ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.
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Old 05-21-2008, 07:38 PM
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Quote:
Originally Posted by Rebellion View Post
I just completed a class on oil investments. One of the most interesting items learned was that the strategic oil reserves are not funded by the government buying it on the open market like any other. They own land leases where the oil companies drill. Per the contracts, none of them are allowed to pay their rent with cash. Instead, 1 out of every 10 barrels drilled must be given to the US to fill the strategic reserve in lieu of cash payment. By suspending the filling of the reserve the government will instead have an IOU from the oil companies for x barrels of oil to be filled at their request in the future. So that means Exxon et al now have an extra 10%+ of oil to sell on the market. And what does that mean? It means next quarter Exxon's profits are going to grow in the 10% range. Of course that also means three months from now politicians (almost all of which will be Democrat) will complain about huge Exxon profits in a time of crisis, despite the fact that they caused this most recent growth spurt with this legislation. Of course it also means many on this board, who will be almost exclusively Democrat, will complain about Exxon's growth in profits not knowing that their party contributed to this growth.
Yep, and it's this type of backlash that makes me question the intelligence of the majority of America. There are so many people out there who think filling up their big ass car, truch, or SUV is a right. Furthermore, there are other companies making profit margins equal to or greater than Exxon, and yet you see no one complaining about them. What I hate the most is how easily the media can spin something to induce a specific type of response within people just for the sake of their own profit.

Last edited by Danik; 05-21-2008 at 07:39 PM.
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