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What point is there for "big oil" to make efforts to increase supply when Hillary and the Democrats are talking about punishing Exxon for its previous successes in making money for its shareholders.
1 posted on 03/25/2008 5:01:44 PM PDT by shrinkermd
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To: shrinkermd

The windfall taxes are mere threats during a campaign season. Exxon also has the Exxon Valdez case hanging fire, a few more $ billion, that is reality. It is not easy or cheap to ramp up production anymore unless they find another elephant such as East Texas or Prudhoe. Even Saudi can’t increase production by much. This is peak oil. Maybe they will find some more elephants, but it has been quite a while.


2 posted on 03/25/2008 5:07:51 PM PDT by RightWhale (Clam down! avoid ataque de nervosa)
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To: shrinkermd

And mean while China drills for oil for the Cubans off the Florida coast.


3 posted on 03/25/2008 5:12:26 PM PDT by kempo (H)
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To: shrinkermd
Why Exxon Won't Produce More
Why?
Two words: Record profits
4 posted on 03/25/2008 5:12:41 PM PDT by lewislynn (What does the global warming movement and the Fairtax movement have in common? Disinformation)
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To: shrinkermd
Produce more? Is anyone going without gasoline? Is consumption down? I don't know. I'm asking.

ML/NJ

6 posted on 03/25/2008 5:15:08 PM PDT by ml/nj
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To: shrinkermd

Peak Oil! Peak Oil!


7 posted on 03/25/2008 5:15:15 PM PDT by Yo-Yo (USAF, TAC, 12th AF, 366 TFW, 366 MG, 366 CRS, Mtn Home AFB, 1978-81)
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To: shrinkermd

[These include the 600 million barrel Kizomba C development off the coast of Angola years. ]

“years”??? What does this mean?


11 posted on 03/25/2008 5:19:02 PM PDT by dbacks (Taglines for sale or rent.)
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To: shrinkermd
What point is there for "big oil" to make efforts to increase supply when Hillary and the Democrats are talking about punishing Exxon for its previous successes in making money for its shareholders.

Exxon has every incentive to increase production. Every oil company in the world is trying to capitalize on these prices to find and sell as much as they can.

But, America severely limits their ability to do so, and crackpot leaders like Hugo Chavez are doing everything they can to discourage further investment in known oil basins.

But there is a more subtle reason why it's hard for Exxon or any large oil company to report great reserve additions. It's easy for a new or small oil company to double their reserves within five years because they started from a small baseline.

But a supermajor faces an impossible task in doing that. They'd have to discover and own every barrel on the planet and then start finding oil on other planets to keep doubling their reserves. It's just not possible.

12 posted on 03/25/2008 5:19:14 PM PDT by Dog Gone
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To: shrinkermd

Their gas around here is always 15 to 20 cents higher than all other name brands also. I have not purchased any Exxon gas in years because it is always higher everywhere we went.


14 posted on 03/25/2008 5:20:27 PM PDT by RetiredArmy (Obama is more of a racist than a KKK member. He lies about it, but a KKK member at least says it.)
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To: shrinkermd

ExxonMobil actually buys more oil than they produce.

They refine more than twice their production.


33 posted on 03/25/2008 5:47:47 PM PDT by thackney (life is fragile, handle with prayer)
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To: shrinkermd
Why should the oil companies worry about the price of fuel? Everytime the price goes up, the public pays it. Sure, a lot of complaining and cussing, but they pay it.

The price won't come down unless the public starts conserving, but Americans are too much in love with their cars. They'll jump in the car for a pack of cigarettes.

Planning the use of the car for shopping, etc. is a pain, but it works. I've cut down my driving jaunts and I'm saving a bunch of money.

Those who have to use their cars for work have a difficult time....but saving on evening and weekend driving is quite possible.

If I'm a baker and sell my bread for $1.00 a loaf and then raise the cost to $3.00 and my customers shake their fists at me but still pay the three bucks, why should I ever go back to the 1 buck price? Just to be a good guy?

On the other hand, if my customers cut back on bread eating and my business slacks off, you better believe I'd drop the price back down in a heartbeat.

Why scream at everyone who are the usual suspects in high fuel prices when something CAN be done about it with some individual effort. Not talking about that nasty word "sacrifice", just cutting back.

Leni

43 posted on 03/25/2008 6:21:37 PM PDT by MinuteGal (I Love My Country More Than I Hate McCain)
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To: shrinkermd
Democrats don't want oil produced in Alaska under very strict environmental standards. No, they prefer that more oil be produced in evironmentally backward, slime-covered bayous in 3rd-world nations.

But they care about the planet, you see. Bunk.

54 posted on 03/25/2008 6:44:15 PM PDT by cookcounty (Obama reach across the aisle? He's so far to the left, he'll need a roadmap to FIND the aisle.)
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To: shrinkermd
The real reason is that Exxon is apparently willing to bring new production on line anywhere but here.

Why is that?

55 posted on 03/25/2008 6:46:22 PM PDT by elkfersupper
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To: kjenerette

for later reading....


60 posted on 03/25/2008 6:55:56 PM PDT by kjenerette (www.jenerette.com - U.S. Army Desert Storm)
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To: shrinkermd

we need to buy more oil from mexico enriching that industry so they employ more of their own and deny monies to the musslimes... driving the cost down...

solves so many problems.

t


70 posted on 03/25/2008 7:25:39 PM PDT by teeman8r
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To: shrinkermd
The profit motive is obvious but one factor is that Exxon lagged in development in the 90’s. They were slow to develop new fields while Shell and others went after new finds aggressively. Still if I can make 9% on $100 I would do it any day over 9% on $50. Especially when it takes the same effort. No brainier.
73 posted on 03/25/2008 8:05:03 PM PDT by mad_as_he$$ (John McCain - The Manchurian Candidate? http://www.usvetdsp.com/manchuan.htm)
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To: shrinkermd

The nations first new oil refinery in decades may be built in Elk Point, South Dakota. A county referendum on June 3rd will decide if the $20 billion dollar project goes forward. While there are the usual assortment of kooks and tree huggers in opposition, I expect the good people of this state will give a go ahead.


74 posted on 03/25/2008 8:08:58 PM PDT by The Great RJ ("Mir we bleiwen wat mir sin" or "We want to remain what we are." ..Luxembourg motto)
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