How good are the odds our gas prices will level off once Haliburton's biggest supporters leave the white house?

purplewings

I didn't know that about Bill Clinton but at this point I'm so thoroughly discouraged with our government that I can only see red. Every one we've had in office in the past several years and all those who've made it onto the ballot have been suspect. Before they do anything for our country, they fill their own coffers. I'm pretty sure if Clinton used Halliburton, he got something in return......just as I believe of Cheney/Bush. We've gotten to pay the bills while watching our jobs go to other countries. Not exactly as I've viewed my government in the not-so-far past.

inthebox

Onboard High-Tech Oil Rig, U.S. Answers to Rising Prices - Noble Clyde Boudreaux Photos - Popular Mechanics


"A typical offshore development in 100 ft. of water costs $100 million; just the test well for Chevron's Jack No. 2 cost $100 million, and the U.S. Minerals Management Service estimates the cost of developing a deepwater field can exceed $1 billion. Shell won't say what the Perdido regional development will cost, but Noble is charging Shell hundreds of thousands of dollars a day for its rig. Shell has already spent $554 million on leases in the gulf—that's just for the right to drill."



IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Our Thorny Oil Patch

"The laws by which CONGRESS hamstrings energy producers have had the lethal effect of slowing down the economy while driving up prices. It's high time for measures that do just the opposite."


Increasing demand [ USA, China, India, developing nations ]

plus

Limited supply [ Nuclear power?, coal regulations, drilling limits - off shore, anwr for example - ? R and D into alternative energy ]

equal higher prices.





Purple, you give Haliburton way too much credit.








here is another cause: an oldie but a case in point: nimby hypocrisy

Storm Over Mass. Windmill Plan, Plan For Nantucket Sound Wind Farm Raises Debate - CBS News

" Last year, oil companies paid the federal government $5 billion to drill offshore. "

"The campaign to stop the wind farms was started by Cape Cod merchants and wealthy landowners. It's also opposed by almost every town government. Sen. TED KENNEDY, who has a home overlooking the proposed wind farm, also opposes the project. So does one of Martha's Vineyard most famous residents, former CBS anchorman Walter Cronkite"

N0help4u

The only thing that will possibly bring oil prices down is
A. The truckers are claiming they are parking their trucks on April 4th because they can no longer afford to work.
B. The environmentalists will not allow us to get our own oil. They put everything on the 'endangered' list to prevent it from happening

I think the truckers should say they will not go back to work until the environmentalists suffer enough to give up on us not being allowed to access our own oil.

Galveston1

Let's look at this some more. Estimates are that ANWAR would produce as much oil as we now import from Saudi Arabia. This is not taking into consideration any additional drilling offshore. If we were closer to being energy independent, it should bring the price down some, and might scare the futures gamblers into backing off. Since this is election year, let's look at who has been preventing us from getting our own natural resources. It isn't G. Bush. One of his first objectives was to get us energy independent, but it has been congress that has prevented this from happening. Mostly, it has been the Democrats, as the Republicans had only a thin majority. Actually, legislation was passed permitting drilling in ANWAR, but was vetoed by Bill Clinton in 1992, I think. So come voting time, remember who is putting your tail in a crack. Not only is it ANWAR, it is nuclear power, coal (we have technology to clean it up), and offshore, but the Sierra Club has bought too many Senators. I hope they all freeze in the dark!

But let's look a little deeper. Gold, oil, and food have not changed their value, it is the dollar that has shrunk. Why is this so? I believe the answer is usury, money lent on interest, particularly that money that our government borrows into circulation. Our government has been in conflict with the Constitution almost from the beginning. The Constitution calls for the government to issue money. If it did so, we would not have this crushing burden of the national debt that we now have. Example; if you had a very tiny country with a total amount of currency of $10 and someone borrowed that $10 at 10% interest, where is the $1 interest going to come from? Without printing more money (inflation), the only place it can come from is to devalue the $10 turning it into $11, each one being worth less than before. The cycle repeats, and the dollar gets smaller and the bankers get richer. When it becomes impossible to pay the interest on that debt, our economy will collapse, and the dollar will be as worthless as Confederate money.

Now I'm going to irritate some of you. That book that you blow off as nothing more than fiction (The Bible) forbade Israel to charge interest on loans within the country. Seems God knew what would happen, huh?

Fr_Chuck

My best guess, gas will go up to over 4 this year and we will latter see 5 and 6 dollar a gallon gas.

It has nothing to do with who is in the white house, they have no effect on the oil at all. not really. Congress has restricted every aspect of what the auto industry can do, and they also restrict the building of atomic plants for other energy ( which puts more strain on oil resouses)

There is only *** numbers of barrels of oil available at a given time, places like India, China, russia and Korea are wanting more and more oil and so to get the oil we want, we have to offer more and more money, so what can we do.

1. perhpaps bomb china, korea and russia back to the stone ages so they don't need the oil, ** not sure why bush has not thought of that one

2. drill for more oil in Alaska, offshore all along the eastern sea coast and the gulf

3. take the oil by military force ** not sure why did do not when we had Iraq, everyone though Bush was anyway

4. or just pay more per gallon to get it into the US.

Congress controlls every aspect of production so costs are of production are fairly well controlled.

twinkiedooter

We need to build more refineries. We are no running out of oil. We are running out of refineries. Why can the people of Venezuela buy gas at less than a dollar a gallon?

purplewings

Our government can afford huge amounts of money for things that serve their purpose.....
December 12, 2007
IDB approves US$100 million loan to Mexico for job training and employment -
but the cost of building refineries in this country is just too much money???

Of course our oil companies that make this kind of profit will be paying taxes to the government so I say YES our government is benefited while the citizens pay much more than necessary.
__________________________________________________ _______________________

Exxon Mobil's staggering $40.6 billion earnings for 2007 drive the truth home: There's no business on the planet that gushes forth more profit than selling oil—nothing even close.
__________________________________________________ _______________________

magprob

The inflation of the dollar, which lowers it's value, pushes the price of oil up to compensate. The dollar is the world reserve currency used to buy oil. That is all that is pushing the price up. We have plenty of oil right here in the U.S. Thousands of wells capped off.

Galveston1

I posted what I think is causing the dollar to fall. What are your thoughts about it?

magprob

I think you are 1000% right. I was reenforcing your stance on the subject. Your explaination of money backed by nothing but intrest for the bankers is spot on.
As a young man, I worked as a rough neck in the oil fields of Texas and Wyoming. We would drill a well, cap it off and then move on to the next one. Those wells are still capped. We have enough oil in Alaska alone to last us at least 200 years. It's just more money in the bank collecting "intrest" for the Rockefellers.