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oil speculators are making the price go up, not the lack of oil.....
posted by
benzinha
on July 6, 2008 at 12:33 AM
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Re: Re: Sira890,
You have absolutely no need to apologize.....when dealing with pseudo-intellectuals you sometimes have to use a two by four, just to gain their attention......it's like dealing with Dr. Smith on Lost in Space....two generations of him! LOL
I appreciate well sourced comments any day of the week..........
posted by
Corbin_Dallas
on July 4, 2008 at 5:25 AM
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Re: Sira890,
First, I think you thrive on being mean to people, so don't bother apologizing--I simply consider the source, and am therefore not offended.
My point was simple: Drilling is not the solution. Creating enough production until you can find a solution is necessary, however. And until the US learns to find their own oil, they'll be struggling to keep up with their needs. Drilling in this new area has more benefits than costs, and it should be pursued. It's ignorant of you to assume that the solution is to stop exploration immediately, and start finding new sources--you must have a viable alternative totally and completely in place, before you can even consider stopping your current operations.
Now, as to your little "test". It's a simple answer: they're not pulling out of the retail market, but rather changing their involvement in the downstream sector. They're selling the stations and reinvesting the money into the company. The stations will be independently owned, but will continue to carry the Exxon name, and sell their product. They're not the only company to do it, and they likely won't be the last.
Downstream sectors (meaning refining and marketing) have taken a hit--everyone knows that. It was inevitable, considering the high prices at the pump. Exxon, like others, feels their assets would be better invested in the exploration and production business. They are also working on new technologies and processes that will, eventually, lead us into an age when we are not reliant on fossil fuels.
Shell, for example, has been an active leader in researching areas such as biofuel, wind, solar and hydrogen energies. They've also made the decision to sell off at least a portion of their retail stations. This is good business sense, plain and simple.
Don't bother to "grade" me on this explanation--you're in no position to do so. Perhaps your time would be better spent reading a Financial Post. I would also recommend the Oil and Gas Journal--who knows, you might learn something.
Corbin, I'm truly sorry that this discussion has intruded on your comments section but I can assure you, it ends here.
posted by
Sira890
on July 3, 2008 at 1:00 PM
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I JUST CLICKED ON THE LINK MY SON KOOKA GAVE ME
http://money.cnn.com/2008/05/30/news/economy/oil_drilling/index.htm?postversion=2008053011
IF YOU WILL NOTICE, it says that it will be -- lets see -- how long? " EIA estimates that if Alaska's Arctic National Wildlife Refuge were opened for drilling tomorrow, oil wouldn't flow at full tilt until 2025."
let's see -- that's 25 - 8 = 17 years from now, and by that time, according to the article, "By 2025, world consumption, currently at about 85 million barrels a day, is expected to swell to well over 100 million barrels a day."
Meaning if we allowed coastal drilling and Arctic drillng, by that time, we would expect to get out of it, about 2 million barrels a day, puny in comparison to the 15 m increase above.
The article goes on to say, "If the U.S. switched to plug-in hybrid electric vehicles, the country would save 3.8 million barrels of oil a day - roughly twice what new drilling would provide - according to the Natural Resources Defense Council."
I wonder what would be the cheapest route, cleanest, least invasive, etc.
Oh yes, you forgot to mention oil spills.
No -- any new drilling won't solve the crisis we face right now. So don't make like it will.
posted by
Xeno-x
on July 3, 2008 at 11:05 AM
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Re: Corbin Dallas,
To the contrary.....We are stupid to cut off our nose to spite our face here......look at what is already happening......people are loosing jobs. No one is saying not to try and develop the alternatives....but to stop using what you have just because it's the green thing to do is ignorant. If everyone is out of work who's gonna send you your check Glennb???
posted by
Corbin_Dallas
on July 3, 2008 at 6:04 AM
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Sira890,
I hate to be mean here, but working in the oil business has made you a little dense! Or maybe made you think everybody else is stupid! I am not certain of the point you are trying to make but "drilling" is not the solution in an economy that is based on a depleting resource! The people making money speculating on oil know this and it is oil companies that profit from the speculation not the oil they produce!
Can you explain why EXXON/MOBIL is exiting the retail gasoline business? This is a test and you will be graded!
posted by
Glennb
on July 3, 2008 at 5:53 AM
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Corbin Dallas,
It is you who thinks in today and quick fix! Again the supply of oil is a declining resource on this Planet! Each of these so called "reserves" is another of those focus-grouped terms that distort or distract from "real" energy solutions! Who says the price we are paying today is a crisis? Production is what we are talking! Do you think more production increases the supply of oil? As production sources decline it will not matter where the oil is found.
By the way: What is so un-American about using up everybody else's oil and then charging them thousands of dollars a barrel for that sweet Texas crude? Wake up Corbin!
posted by
Glennb
on July 3, 2008 at 5:43 AM
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Corbin
As always, important points extremely well made! It's too bad ideologically driven eco-crazies and their media allies usually manage to drown out voices of reason! In Canada we have that insufferably sanctimonious David Suzuki...
BTW, I do hope you are coming along well on the road to recovery...
posted by
Nautikos
on July 3, 2008 at 5:01 AM
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Re: Corbin Dallas,
Glenn, I have to disagree with you. I think Corbin is one of the few people who really do get it!
I worked for an oil and gas company for 10 years, and I hold several degrees in the field. My father has been a geologist longer than I've been alive, and owns one of the companies that you dislike so strongly.
So I know from personal experience, just what the oil and gas industry is doing, and what they're about. Their business model is far from self extinction. If you look closely, I think you'd find that oil and gas companies are leaders in creating and discovering new and improved energy sources and renewable resources. They recognize that the world is changing, and they're taking steps to realign themselves, to ensure their continued survival in the economy.
And Corbin is right--American's have been surprisingly slow to go after their own resources. It's not about stopping drilling altogether. It's not about making swiss cheese out of your land or "destroying" the environment.
It's about learning to provide yourself with energy and finding your own ways to make use of renewable resources, so you can stop taking it from everyone else. For a highly developed country, the US is amazingly shortsighted when it comes to things like energy consumption.
posted by
Sira890
on July 2, 2008 at 12:12 PM
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Re: Corbin Dallas,
And do you or Nobama have the magic solution? We cannot on the short term let the failure to find such an alternative destroy our economy....we can supply our own needs if we go after our reserves of oil, natural gas, and our immense coal reserves.......we're now the only developed country not going after their own resources thanks to th extremist environmental fringe.
posted by
Corbin_Dallas
on July 2, 2008 at 10:02 AM
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Corbin Dallas,
You simply do not get it! Drilling for the last drop of oil on this Planet is not the issue! Finding an alternative is the bigger issue! Cheap gas is over because cheap oil is over! And soon it will be depleted. Maybe building economies on a limited resource was a "mistake"? Aiding companies whose business model is self-extinction is a little crazy!
posted by
Glennb
on July 2, 2008 at 9:50 AM
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