In Defense of 'Big Oil' ( Cal Thomas )

townhall.com ^ | May 13, 2008 | Cal Thomas

[kellynla]

ping

[BOBTHENAILER]

Peter Robertson, vice chairman of Chevron, told me it's a myth that oil companies are not investing in new energy sources. He says last year alone, Chevron spent $20 billion exploring new sources of energy.

Once again, your Smoky Backroom assertion that Big Oil is in on the consumer sting in collusion with both the right and the left, is factually refuted.

[BOBTHENAILER]

Where is it written that the cost for a product or service should be frozen in place and in time, never to rise again, or to rise at a pace commensurate with our incomes? People who think this way know little to nothing about supply and demand and less than nothing about the profit motive. That's because at least three generations have been raised on the notion of entitlement, and when one feels entitled to something, one believes someone else should pay.

This is absolutely beautiful. Thanks for posting.

[SoldierDad]

Yes, we can certainly trust the word of the fox that he is not involved in stealing chickens from the hen house.

[onedoug]

democrats (and more than a few Republicans) are either communists or too stupid to know the difference. The only other possbility is islamism.

[jazusamo]

Good piece by Cal Thomas. Happy to see both he and Thomas Sowell are ripping the ‘tax big oil’ Demorats. :)

[Sybeck1]

Bicycles? The Chi Comms are driving more and more cars, and we will soon be in rickshaws!!

[Amendment10]

I'm keeping an eye on developments in ethanol production.

First, the bad news about ethanol. Ethanol fires are evidently harder to control than gasoline fires.

Ethanol fires hard to control 1
Ethanol fires hard to control 2

Hopefully, ways will be developed to make controlling ethanol fires easier.

On the brighter side concerning ethanol, there's now evidence that people might get as much, or more, bang per buck for their gas dollars with gas / ethanol mixtures.

Gas-competitive gas / ethanol mixtures

Also, I was surprised by the introduction of a machine for making home-made ethanol.

EFuel100

In stark contrast to the 1700 gallons of water required to make one gallon of corn-based ethanol as indicated by the OP, the EFuel100 uses only 170 gallons of water to produce 35 gallons of ethanol In other words, the EFuel100 uses less than 1% as much water as corn ethanol, under five gallons, to produce one gallon of ethanol (corrections welcome).

But watch out for fines for violating biofuel regulations.

Fines for violating biofuel regulations

Finally, progress is being made in the development of other non-corn ethanol production technologies as well.

Non-corn ethanol

[BOBTHENAILER]

Mind explaining that statement? First look at the $20 BILLION investment, then try and tell me that he doesn't put his money where his mouth is.

[traviskicks]

bookmark

[Little Bill]

Please reference the article, CVX paid off my house, along with GE and XOM. In Lucknow when you were popping the Limey’s an ambiguous comment might have been approiate.

[utherdoul]

It’s a wonder how many republican socalists we have on this board. Every time I see some shrill bit about how the oil companies are out to screw America around here I die a little inside.

[BOBTHENAILER]

I'm keeping an eye on developments in ethanol production.

If you really like it, you'll invest in it. I like oil & gas production, and I invest exclusively in it. Over 35 years of taking the dry holes with the keepers.

As to ethanol, I think it is insane. However, inasmuch as every ethanol plant takes oil or natural gas to feed it, I'm not gonna bi+ch about a new market to sell my products.

[BOBTHENAILER]

Every time I see some shrill bit about how the oil companies are out to screw America around here I die a little inside.

You and me both. It makes me sick.

[BOBTHENAILER]

What?

[lormand]

"It’s a wonder how many republican socalists we have on this board."

I was arguing with a McCain supporter here in FR just yesterday about "Big Pharma" (his words, not mine)

On the inauguration of our next President next January, we will all be F%#@ed! Big Time!

[goodnesswins]

In 2006 the price of a gallon of oil was about $59....today it’s what...$126? The DEMOCRATS have consistently said, NO, we cannot drill for oil in or around the US....I’d say the DEMOCRATS are the reason BIG OIL has such great profits! And, if the DEMOCRATS would let us drill around the US....we’d have profits, AND LESS COSTLY ENERGY. It’s economic idiots like the Democrats who are killing America.

[Cletus.D.Yokel]

Let’s say that I sell bottled water. I make 10-cents on each bottle. You buy 10 bottles each day and I make $1/day.

Next week, you take up jogging and now you buy 20 bottles/day and I make $2/day.

You expand your family and begin purchasing 30 bottles/day and I make $3/day.

Your expanded family expands and your mini-society is purchasing 100 bottles a day (some of you are still jogging). I am making $10/day. I have 10,000 customers just like you. Over I year, I net $36,500,000. It’s a good life, no?

I’m still making 10-cents a bottle.

[Dilbert San Diego]

There is hysteria sometimes about how OPEC has us over a barrel, and there is confusion and anger about what causes oil prices to spike sometimes.

I’m not saying OPEC doesn’t try to maximize their profits, or that Exxon is run like a non-profit charity. What I am saying is that the whole story isn’t told.

For example, demand in this country continues to rise with population growth, and the continual spreading out of our cities. More cars are being driven more miles than ever before. Developing countries such as China are using much more oil than previously, resulting in increasing demand in world oil markets. Increasing demand puts upward pressure on prices. We have not built any new refineries in 30 years, so supplies have been tight in our country for years as a result.

Hillary may get cheers for vowing to take on OPEC and the oil companies, but there are things happening outside the control of the president and the government.