Posted on 07/10/2008 5:50:27 AM PDT by shrinkermd
JOSEPH PETROWSKI is president of Gulf Oil. His recommendations are as follows:
To Democrats:
Supply must be increased, and that will require more drilling.
We can responsibly drill. The technology to find, drill and recover oil has evolved tremendously. Careless drillers fear tort lawyers more than government. ators. The claim that the oil companies are sitting on leases and not drilling defies all logic. With oil at $135 per barrel and drilling rigs renting at $300,000 per day, there are no idle rigs anywhere. Furthermore, economic decline – and war induced by basic resource struggles – are greater threats to the environment and American workers than drilling.
Your claim that any oil we drill for now will not come on line for five years or longer – and will thus have no effect on prices today – is incorrect. Unlike past oil crises, where the spot price of oil (that is, today's price) rose more than forward prices, the oil price for delivery in 2012 is trading at $138 per barrel. The market is sending a clear price signal that our problem is in the future – because we do not have the will to curb demand or increase supply.
To Republicans:
Efficiency is a huge source of new energy. It is scandalous that we have let the mileage standards decrease over the past 25 years. Whether through mandates or tax policy, active government intervention is needed. Republicans have to stop acting as if the "market" is some pristine state of nature that is not subject to active shaping.
Finally, can we stop with the nonsensical talk of "energy independence," the end of petroleum, and postured, ineffectual boycotts of Exxon Mobil? We cannot, should not and will not be independent in a global economy, and petroleum is not going to disappear.
(Excerpt) Read more at online.wsj.com ...
The price of oil will not come down until W tells Ben-Ben to quit printing more money and hedge funds become more transparent coinciding with increased domestic output from offshore, shale, ANWR and building more nukes.
Let’s see, one ideology/party wants to continue to grow the economy, increase our lifestyle, and spread capitalism to the benefit of all,
the other party wants to destroy your lifestyle, destroy capitalism and the economy, collectivise everything, and place themselves in authority over you.
Now, what’s the “bi-partisan” solution to that?
Sometimes one has to wonder if the Liberal Congress is purposely finding ways to screw up our economy so they can buy stocks prior to the November elections...and then sell when the economy “magically” improves.
ping
This is logically, rationally and even grammatically ridiculous.
IMHO, we're only now starting to see the take off of the credit bubble bursting and deflationary pressure like never seen before added with continued significant inflation with food and energy.
Ben-Ben just keeps printing money and major banks have cut their throats with over leveraging w/ respect to the derivatives BS game.
Along with that, Congress still does nothing to increase domestic production of energy sources and sleeps as the dollar continues its slide.
2007 holiday season retail numbers were flat to negative......it will be 3-5 times as bad this season.
You seen any numbers yet on gasoline consumption for the past 4th of July vacation week? Governments will raise taxes immediately after the Nov elections to compensate for increased fuel costs and food costs further pulling money out of the pockets of consumers.
Apparently everyone but Congress has figured it out, which is why Congress' approval rating is now in single digits.
On the other hand, they're continuing to become richer and more powerful on our tax dollars, and we keep voting for them, so what do they care whether we like it or not?
the other party wants to destroy your lifestyle, destroy capitalism and the economy, collectivise everything, and place themselves in authority over you.
Both parties are on the AGW bandwagon. Both parties want amnesty and open borders. Both parties want to give our enemies the rights of American citizens. Both parties want authority over us....please tell me which "ideology/party" is which.
One big difference you notice in the small cars of today vs those of 1965 is that the new ones are a thousand pounds heavier. In an age with carbon fibre and other fabulous new materials, that is inexcusable.
Exactly. Last year, to get my license renewed on my 1963 Mercury Comet Custom (with the 260 V8), I had to get it weighed (we tax by weight here in the People’s Republic of Washington). The scale operator had me go through twice because he couldn’t believe it weighed in at 2330 pounds. With a 1/4 tank of gas.
That’s 300 pounds LESS than a Honda Civic. And 1000 pounds less than the Honda Accord EX - a 4 cylinder engine. For a 45 year old, V8 powered 4 door sedan that comfortably seats six 6 foot guys the thing is really light.
Also makes have the mildly built engine under the hood (just about 300 HP - not a lot) really get the car up and moving in a hurry...:)
We need to start finding ways to mass produce carbon fibre and get the costs down. We should be making vehicles, bridges, buildings, and everything else with that stuff. It should be very easy to get a small car under 1500 lbs with today’s technology and that would get gas mileage over 40 easily with today’s engines.
The DemocRAT definition of “bi-partisan” is do it my way or you are partisan.
Why do so many people keep voting for DemocRATs?
sigh...
Heck, I’d be happy if we could just get back to where we were 40 years ago! No carbon fibre needed, just good steel, aluminum, and fiberglass.
With CF, we should be able to do a full-size 4 door sedan for under 3000 pounds.
Save us from carbon pollution by wrapping us up in carbon cocoons, eh?
The strength of the stuff is not to be believed. Arrows, tennis racquets and what not made with the stuff are light to the point of non-existence and still ungodly strong.
The technology to find, drill and recover oil has evolved tremendously. Careless drillers fear tort lawyers more than government regulators. The claim that the oil companies are sitting on leases and not drilling defies all logic. With oil at $135 per barrel and drilling rigs renting at $300,000 per day, there are no idle rigs anywhere... Your claim that any oil we drill for now will not come on line for five years or longer -- and will thus have no effect on prices today -- is incorrect. Unlike past oil crises, where the spot price of oil (that is, today's price) rose more than forward prices, the oil price for delivery in 2012 is trading at $138 per barrel. The market is sending a clear price signal that our problem is in the future -- because we do not have the will to curb demand or increase supply... Efficiency is a huge source of new energy. It is scandalous that we have let the mileage standards decrease over the past 25 years. Whether through mandates or tax policy, active government intervention is needed. Republicans have to stop acting as if the "market" is some pristine state of nature that is not subject to active shaping.
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