Uncle Sam And Oil

Forbes ^ | 6/18/2008

[samtheman]

I suppose we’ve veered to far into generalities here to actually get anywhere.

You seem to be more forgiving than me. At least for now. I’m not feeling very forgiving these days.

[bruinbirdman]

"I just can’t see the anti-American stuff that you see."

The Democrat leadership are hard core socialist. They will tell you that what they believe is good for America and the world. It is only after Marxine "Muddy" Waters slipped the "N" word (nationalize) in her interrogation of oil company executives that other Leftists in congress now flat out admit they want to socialize private enterprize.

Most Democrat voters are just unwitting dupes of communist populism/propaganda.

yitbos

[justa-hairyape]

Thanks for that link. Been too busy to read everything that I find interesting here. This is one of the issues that without a doubt illustrates just how bankrupt the progressive mindset has become. The US should be the number one oil producer in the world and should be producing the vast majority of the worlds oil. The main reason is that we are one of the few Oil producing nations on the planet that actually cares about the earth. Do the Russians ? Do the Saudis ? Do the Mexicans ? It is better for the planet to have US companies producing most of the oil. Again, the progressos have turned the issue upside down and are thinking with the wrong organ.

[seekthetruth]

Great letter! I will be writing and contacting my members of Congress too but don’t have much hope with the likes of Martinez and Nelson. Just maybe Martinez will be on the right side of this issue!

[RightWhale]

The Pres, Polar Bear Bush, mentioned today that offshore drilling could result in holding the current rate of domestic production steady for a decade.

He is thinking rightly about this. Nothing will result in an actual increase of domestic oil production.

[bruinbirdman]

"Nothing will result in an actual increase of domestic oil production."

Production as a whole is interesting to observe from a layman's perspective.

The Saudi's say they are producing at a level to which they have contracts.

The world appears to have an amazing equilibrium of production to consumption, what OPEC has always had as a goal, no cheaters.

Nigerian rebels knock out 200K bbls of production, Saudi increases output 200K.

China and India consume more, Canada produces more from oil sands.

I am particularly interested in BTU costs and parity of natural gas vis a vis oil.

yitbos

[RightWhale]

an amazing equilibrium of production to consumption

It is interesting. In the history of petroleum it is an impossible miracle. What is responsible? GATT? NAFTA? Pres Bush? Pres Clinton?