Offshore Drilling

[Miroslav]

Re: Offshore Drilling

First of all I never said I hate oil companies. And I never even spoke about oil companies controlling everything. So I was curious if you wanted to discuss the topic or just be belligerent. Whatever help you sleep at night brother. Oil prices are up 500% since the bush administration has come in. Now I suppose that has nothing to do with Bush and has more to do with OPEC but what you have to understand is that your government is in control of everything that goes on in the entire western world. (I'm going to stop there)

Also a little history lesson here for you. Who started drilling in Saudi Arabia or the middle east for that matter?? Who brought the technology to do the drilling the middle east. Standard Oil brought that technology to the middle east and were making the majority of the profits. That company was split up by the US government and turned basically into Exxon Mobil. So without wasting more of my time educating you on how the oil gets here my point is that the oil coming from Saudi Arabia isn't foreign at all when the board members are US citizens on the Exxon Mobil board.

So don't be fooled by the propaganda of "Foreign Oil" it is no different then "smoking gun" that was used earlier to get you guys into that stupid war in Iraq which is also about oil. Also just so you know Corporations dictate new policies. Here is the article from Exxon Mobil's site explaining how Alaskan contracts have already been awarded even though the ban was lifted that same day.

http://www.businesswire.com/portal/site/exxonmobil/index.jsp?ndmViewId=news_view&ndmConfigId=1001106&newsId=20080714006192&newsLang=en

http://africa.reuters.com/world/news/usnWAT009780.html

Wow what are the odds the exact same day Bush lifts the ban the contracts have already been awarded to do more drilling in Alaska. Do you know how long that takes to work deals like that out?? Probably not but I will inform you it takes a very long time.

Also your asking me if I know what a profit margin is?? Listen junior I am very sure I have a better grasp then you of what business is all about.

Your statements really boggle the mind. Here's a little history lesson...

The company that runs the oil in Saudi Arabia today is a company called Saudi Aramco. That company was originally founded by US company Standard Oil, but it went through numerous ownership changes. In 1973 the Saudi Arabian government took a 25% stake in the company and eventually increased it to full ownership by 1980. That means that Saudi Aramco today is a state-owned enterprise. Forget the Exxon boardmembers controlling it, it is now completely owned by the Saudi Arabian government.

http://en.wikipedia.org/wiki/Saudi_Aramco

Furthermore, why do you first concede that OPEC probably has more to do with the oil prices than Bush, and then you turn around and suggest that US controls all of the "Foreign Oil"? These two statements are illogically at odds with one another.

The reality is that the US does not control oil prices or OPEC. Oil prices are ultimately determined via global commodity markets through the matching of supply and demand - and OPEC controls a lot of that supply. I'll leave you to google that stuff on your own.

[runningman]

Re: Offshore Drilling

Your statements really boggle the mind. Here's a little history lesson...

The company that runs the oil in Saudi Arabia today is a company called Saudi Aramco. That company was originally founded by US company Standard Oil, but it went through numerous ownership changes. In 1973 the Saudi Arabian government took a 25% stake in the company and eventually increased it to full ownership by 1980. That means that Saudi Aramco today is a state-owned enterprise. Forget the Exxon boardmembers controlling it, it is now completely owned by the Saudi Arabian government.

http://en.wikipedia.org/wiki/Saudi_Aramco

Furthermore, why do you first concede that OPEC probably has more to do with the oil prices than Bush, and then you turn around and suggest that US controls all of the "Foreign Oil"? These two statements are illogically at odds with one another.

The reality is that the US does not control oil prices or OPEC. Oil prices are ultimately determined via global commodity markets through the matching of supply and demand - and OPEC controls a lot of that supply. I'll leave you to google that stuff on your own.

The reality is your Wrong. Your right about that one company. Check my last thread which states that more barrels of oil are coming from Non OPEC Members. So if the majority of oil is coming from non OPEC'ers then non OPEC'ers would have the biggest say.

Canada in 2007 exported 885,366 (in thousands of barrels) to the USA
Saudi Arabia exported 543,508 (again in thousands of barrels) to the USA

Even look at the monthly chart Canada is blowing Saudi Arabia out of the water

April 2008

Saudi Arabia- 43,867 barrels in thousands
Canada - 76,019 barrels in thousands

Which means put Venezuela and Sadi Arabia and you get Canada without Saskatchewan. Again think in a couple years when Sask. is up and running. THe wheels are already in motion on Sas. and have been for a few years now.

Canada is slowly becoming the monopoly on oil. Once we start pumping out Saskatchewan (which is right next to Alberta) We will be pumping double that number. They have found more oil under Saskatchewan then Alberta.

So my real point here is that it is just propaganda what Bush was saying "foreign oil" as he did with "smoking gun" when in reality it is just about giving oil companies more land and now water (LOST Treaty). Also as far as oil companies not pulling in a profit:

http://www.nytimes.com/2008/02/01/business/01cnd-exxon.html?_r=2&hp=&adxnnl=1&oref=slogin&adxnnlx=1216321241-zjVglL9g1wXVZQmKLSq2Zg&oref=slogin

So that pretty much shoots that one down to.

[Jenks]

Re: Offshore Drilling

The reality is your Wrong.

The really real reality is, you know all this stuff about oil, but nothing about "your" and "you're"

[runningman]

Re: Offshore Drilling

The really real reality is, you know all this stuff about oil, but nothing about "your" and "you're"

I know English was my worst class in school...

[Jenks]

Re: Offshore Drilling

It's painfully obvious.

[Kamal]

Re: Offshore Drilling

The really real reality is, you know all this stuff about oil, but nothing about "your" and "you're"

[Miroslav]

Re: Offshore Drilling

The reality is your Wrong. Your right about that one company. Check my last thread which states that more barrels of oil are coming from Non OPEC Members. So if the majority of oil is coming from non OPEC'ers then non OPEC'ers would have the biggest say.

Canada in 2007 exported 885,366 (in thousands of barrels) to the USA
Saudi Arabia exported 543,508 (again in thousands of barrels) to the USA

Even look at the monthly chart Canada is blowing Saudi Arabia out of the water

April 2008

Saudi Arabia- 43,867 barrels in thousands
Canada - 76,019 barrels in thousands

Which means put Venezuela and Sadi Arabia and you get Canada without Saskatchewan. Again think in a couple years when Sask. is up and running. THe wheels are already in motion on Sas. and have been for a few years now.

Canada is slowly becoming the monopoly on oil. Once we start pumping out Saskatchewan (which is right next to Alberta) We will be pumping double that number. They have found more oil under Saskatchewan then Alberta.

So my real point here is that it is just propaganda what Bush was saying "foreign oil" as he did with "smoking gun" when in reality it is just about giving oil companies more land and now water (LOST Treaty). Also as far as oil companies not pulling in a profit:

http://www.nytimes.com/2008/02/01/business/01cnd-exxon.html?_r=2&hp=&adxnnl=1&oref=slogin&adxnnlx=1216321241-zjVglL9g1wXVZQmKLSq2Zg&oref=slogin

So that pretty much shoots that one down to.

I never said anything about Canada. Yes, I readily concede that OPEC is not the only source of oil on the planet. You made a statement suggesting that US company boardmembers control oil in Saudi Arabia, and I was just pointing out that your statement was, to put it politely, silly.

By the way, from our perspective in the USA, Canada is technically a foreign country So it is still in fact "foreign oil".

[day_for_night]

Re: Offshore Drilling

Canada is slowly becoming the monopoly on oil. Once we start pumping out Saskatchewan (which is right next to Alberta) We will be pumping double that number. They have found more oil under Saskatchewan then Alberta.

No and no. 'pumping' out of sask is gonna take quite awhile to come online in any appreciable amount (think 5+ years), and there are 178 billion barrels of proved reserves in alberta. there is nowhere near that amount in sask, though there is definitely alot of oil there, no question.

most of the ramp up in production to the states will come from alberta and offshore east coast in the next few years. sask and other provinces will start adding to this in 5-10 years.

[Localizer]

Re: Offshore Drilling

Well, those things aren't really mutually exclusive, and are probably actually connected. The speculation is fueled (no pun intended) by the realization that growth in developing nations is will cause a steadily increasing demand curve, and by concerned about supply due to the instability of the middle east.

Yet it peaked J4 weekend, one of the busiest holidays of the year and coincidently when israel/iran were playing pocket pool with each other.

[runningman]

Re: Offshore Drilling

See shit happens sometimes..

http://rawstory.com//news/2008/Collision_between_tug_tanker_closes_Mississippi_0723.html

[thesightless]

Re: Offshore Drilling

the truth is that if the three north american nations (including mexico here) were to invest in their own oil feilds, which are numerous, but protected by silly laws, we could have our own cheap supply for a efw hundred years, within 5-10.

proven oil feilds are to be found throughout the central plains and rockies as far south as central mexico and all the way up to the permafrost which holds more oil itself than the middle east (we just cant find a way to extract it.)

[toasty]

Re: Offshore Drilling

bump. Just curious if recent events have changed anyone's take on this.

[88Mariner]

Re: Offshore Drilling

the truth is that if the three north american nations (including mexico here) were to invest in their own oil feilds, which are numerous, but protected by silly laws, we could have our own cheap supply for a efw hundred years, within 5-10.

proven oil feilds are to be found throughout the central plains and rockies as far south as central mexico and all the way up to the permafrost which holds more oil itself than the middle east (we just cant find a way to extract it.)

qft

[runningman]

Re: Offshore Drilling

zpr

[bobjuice]

Re: Offshore Drilling

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