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To: Smokin' Joe

My point is that people act in self-interest.

Those who are “small government types” are often only small government types because it profits them.

You didn’t really address my point on oil. Do we give away 50 million barrels of oil a day? Yes. Is it worth $100 a barrel? Yes. Does that amount to $5 billion a day? Yes. Who did the oil belong to when it was in the ground? The people of the USA. Who gave it away? Politicians. Who gets the money? Politicians and their political supporters. Who doesn’t get the money? The people of the USA.

You say big oil should get it because they work hard. That’s why the Kochs, for example, deserve their more-than-$10million-a-day income. Well, suppose I work hard and convince politicians to give me $10 million/day in gold from Fort Knox. Afterwards, I give those politicians $1 million in campaign donations. Isn’t that fair? Isn’t that me being a good businessman?

The truth is that our oil give away is not rugged individualism. It’s corruption, pure and simple. Maybe in 1890 oil companies were taking a risk, but there is no risk in oil anymore. They know where the oil is. Making money in oil is easier than selling drugs. There is no reason that we should give away the wealth of the people of the United States. Norway doesn’t. Kuwait doesn’t. No people of any nation gives away their natural resources more freely than the people of the USA. You can call us rugged individuals for that; I call us suckers.


24 posted on 10/11/2011 1:21:53 PM PDT by TruConservative
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To: TruConservative
Well, I can tell what you know about the oil industry could fill a matchbox. You get your talking points from CNN or maybe Captain Planet. What oil is the US giving away and where? Cite sources. I've been in the industry for well over thirty years and not a drop has been free.

As for 'we know where it is', well if that was the case, I'd be at the house and out of work instead of wrapping up a 145 hour day on a wellsite. We don't know where it all is, or there would be no 'Exploration' in E&P.

Who did the oil belong to when it was in the ground? The owner of the mineral rights. West of the Mississippi, that's half the Federal Government, and half private individuals.

There;s a reason a Federal Lease is called a Federal Lease. You lease the exploration rights for a fixed time, extended if you find and produce oil. You pay a royalty (up to 20%, negotiated in advance) on production to the mineral owner (in the case of the Federal Government, to the Government). The operator (that's the oil company) assumes the cost of doing all the various surveys for everything from 'cultural assets' to tortise nests, rare plants to raptors, and the costs of building locations, access, drilling the well, completing the well, any and all production infrastructure, and reclamation of the site and the road when done, as specified in the BLM manual.

If you don't find oil, or if someone finds a 'rare' plant, an inconveniently located decade abandoned eagle nest, or an arrowhead of 'great religious significance' or somesuch, you are out the money. No risk? Free? sheesh. Millions, no tens of millions were invested in areas the government closed off and revoked the paid for leases to in Utah and Wyoming without so much as a howdy do.

So you contend we give away 50 million barrels of oil a day. Fine. Where? Cite your source.

Here is one even you can be comfortable with: NY Times, and the US doesn't produce 50,000,000 barrels of oil a day, in fact far, far less.

In fact, the latest EIA figures show US production, onshore and off (combined), to be a mere 5.6 million barrels a day. Maybe the government is printing oil like money to give away?

I think I have adequately addressed your bullshit contentions.

25 posted on 10/11/2011 2:22:59 PM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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