Classic George W

[mtofell]

Next time you pay $80 to full 'r up thank George as those dollars spin by.

By his virtual silence on the whole oil price issue he's already convinced most that he doesn't care. For any of the rest of you, check out the article. And don't just stop reading after you see it was introduced by the dems. The bill passed 97 to 1 in the senate.

George Bush 'talking' to the Saudi's about dropping oil prices is like Lindsey Lohan talking to Jack Daniels about making Club Soda.

There are plenty of things I'm on board with GW about.... In this case I think he's sticking it to us.

Funny how he wants to continue to full our reserves with $120/barrel oil when they're already 97% full..... hmmmmm, do you think he still talks to his buddies in Texas?

http://afp.google.com/article/ALeqM5...gn3hAQHAx-Xqng

[helomech]

First I don't think we should be giving arms to any other country. Second I am pretty sure Saudi is producing at 100% right now. They can't produce any more than that. The oil reserve counts for less than .01 percent of the total oil being brought into the U.S., I don't think that would make any difference in the price of oil. You better get used to the price, because it will keep going up no matter who gets in office. We can't control the price of oil, unless we start drilling in every place that has oil in the U.S.

[mtofell]

Originally Posted by helomech

First I don't think we should be giving arms to any other country. Second I am pretty sure Saudi is producing at 100% right now. They can't produce any more than that. The oil reserve counts for less than .01 percent of the total oil being brought into the U.S., I don't think that would make any difference in the price of oil. You better get used to the price, because it will keep going up no matter who gets in office. We can't control the price of oil, unless we start drilling in every place that has oil in the U.S.

Agree about giving/selling arms to others - we shouldn't be doing it.

Disagree about Saudis producing all they can. They are a large player in OPEC and could easily boost production and lower prices. Nobody really knows how much they are capable of producing but it's pretty much just accepted that OPEC limits production to keep prices high.

Oil reserve 1%? I'll buy that since I don't know otherwise. Still, it doesn't make sense to put more into it at this point. I've got to go with the numbers on this one. When 97/100 senators go for something that the pres. goes against I have to think something smells funny.

Get used to the high price? Not so fast... Oil is a commidity like corn, pigs and lots of other stuff. Historically, when there is a quick spike, there is an equal one coming back down. I do agree that longterm we are pretty much facing higher oil prices. I just think there's a reasonably good chance this is a 'bubble' as economists like to call it. This is a topic of much conversation on financial shows as of late. Today, an economist predicted $70/barrel oil by the end of the year. Granted, that seems a bit far fetched but I think there's a pretty good chance of it going below $100 again within the next few months.

Drill for more? I'm for it. Even the threat would cause OPEC to boost production and lower prices.

We're just stuck at the mercy of OPEC right now and the 'threat' of worldwide demand increases.... truth be told the demand increase has been marginal. This whole spike is speculative.... hence the possibility of the 'bubble' bursting.

[helomech]

Originally Posted by mtofell

Agree about giving/selling arms to others - we shouldn't be doing it.

Disagree about Saudis producing all they can. They are a large player in OPEC and could easily boost production and lower prices. Nobody really knows how much they are capable of producing but it's pretty much just accepted that OPEC limits production to keep prices high.

Oil reserve 1%? I'll buy that since I don't know otherwise. Still, it doesn't make sense to put more into it at this point. I've got to go with the numbers on this one. When 97/100 senators go for something that the pres. goes against I have to think something smells funny.

Get used to the high price? Not so fast... Oil is a commidity like corn, pigs and lots of other stuff. Historically, when there is a quick spike, there is an equal one coming back down. I do agree that longterm we are pretty much facing higher oil prices. I just think there's a reasonably good chance this is a 'bubble' as economists like to call it. This is a topic of much conversation on financial shows as of late. Today, an economist predicted $70/barrel oil by the end of the year. Granted, that seems a bit far fetched but I think there's a pretty good chance of it going below $100 again within the next few months.

Drill for more? I'm for it. Even the threat would cause OPEC to boost production and lower prices.

We're just stuck at the mercy of OPEC right now and the 'threat' of worldwide demand increases.... truth be told the demand increase has been marginal. This whole spike is speculative.... hence the possibility of the 'bubble' bursting.

Not putting oil in the reserve is a short sighted plan. These reserves are for emergencies. We are no where near an emergency yet, what do you think would happen if opec decided to lower production, or cut the us off completely. It isn't like they need us to buy it, many other countries would be glad to buy our share.

In the second paragraph they say they will be adding production capacity to produce 12 mbpd. I looks to me that they have to increase production capacity to produce more oil. That isn't something that can be done with just in a short period of time.


http://www.aawsat.com/english/news.a...tion=6&id=5297



In this one they produce 10.6 mbd, russia produces 9.6, and we produce 8.3mbd.

http://www.cnn.com/2008/TECH/science/05/13/Oilbriefing/

[Underagedtitan]

Ya know I' feel wierd saying this but it's a good thing. Not for truck owners like us but for everyone else. Higher prices is only gonna push the development of alternative fuel sources and more fuel efficient vehicles. I also think that anyone who has bought a gas chuggin car/truck should've known this day was coming. Besides if we use less gas it keeps our money from going over to the middle east. I'm not saying I wouldn't like cheaper gas but its for the better.

[Kronos1965]

1. We sell arms because it keeps our friends close and we do it because we still have something of value to other countries-things that go boom and are the best in the business. We use those arms to pay down our debt.

2. Saudi Arabia has never produced to 100% capacity. My Dad was there for three years and their oil minister clearly stated that they work at 70% capacity in order to keep operations flowing, allow for repair and for emergency need.

3. The government profits off high gasoline prices...
http://www.factcheck.org/askfactchec...e_more_in.html

[mtofell]

http://www.fnarena.com/index2.cfm?ty...DA74E8FCCC3750

Since I can't drive anywhere without going broke I've been reading up... here's a pretty good, albeit long, article from a basically non-biased point of view. Lots of fuel for the 'bubble' theory but also plenty of counter-points.

I'm in the 'bubble' camp if for no other reason than hope.

The part of the article that caught my eye the most was about the refineries having an excess supply but somehow turning that to their favor to boost prices.... wtf?

That's the kind of crap I think our government needs to step in on. I'm really not for all these 'windfall profit' taxes and other BS. But, the oil companies should be on notice that we are watching them and price fixing and similar stunts will not be tolerated.

I caught a talk show about a year ago that was talking about the annual summer price spikes that we experienced in the 05/06/07. The speaker, who seemed to know his stuff, said it was all manipulation by the refineries and oil companies. Stuff like shutting down for maintenance during the peak of the demand just to run up prices. That crap has got to be investigated and stopped by someone.

I'm all for exploring alternative fuels and people reducing usage. It just seems like some BS in Washington is always in the way.

Perfect example - A friend's neighbor in WA state had a business going around collecting restaurant oil and making Biodiesel. He was starting to get a pretty good sized operation going and basically got shut down by the government. Why? No real reason, just that you can't sell fuel without going through all kinds of red tape. God forbid anyone actually do anything about the problem. After all, our government is on it, right?

[helomech]

Originally Posted by Kronos1965

1. We sell arms because it keeps our friends close and we do it because we still have something of value to other countries-things that go boom and are the best in the business. We use those arms to pay down our debt.

2. Saudi Arabia has never produced to 100% capacity. My Dad was there for three years and their oil minister clearly stated that they work at 70% capacity in order to keep operations flowing, allow for repair and for emergency need.

3. The government profits off high gasoline prices...
http://www.factcheck.org/askfactchec...e_more_in.html

I know why we sell arms, but I still don't like it.

That 70% is what they can sustain. They can't sustain more than that, so that means to me that is what they can produce. If you use that math, you can't have any faliures, or anything go wrong. It doesn't happen, right here in the gulf 30 % of the rigs are not producing at any given moment. That is just how it operates.

And yes the government makes lots of money off gas, no argument there.

[TallTexan]

Why do liberals only look at Bush for all our problems, including the oil prices. Take a look at prices before the liberal congress took over. Check out the economy, stock market, employment numbers, we were doing pretty good. So after several good years with GW, the libs come into power and the bottom falls out. Got to be Bushes fault. Folks need to put government back into our schools so everyone understands where the power is. Congress is where the power is. Congress controls money, bush cannot even sign a check, congress passes all laws, Bush can only follow, congress sets budgets for veteran benefits, military budgets, welfare budgets and on and on. Bush only follows. Congress is responsible for a energy policy, opening areas to drill for oil, restrictive enviromental laws to go after oil, nuclear energy, stopped refinerys with all the restrictive laws, not a new refinery in 30 years and yet some here can pluck their head out of the sand and say, Bush did it! Bush did what? The only thing Bush did wrong is not choking the crap out of Teddy Kennedy and Pelosi and tell everyone the truth. Notice I did not say squeeze the crap out of Harry Reed, he is so full of it you would have nothing left.

I know, I am going to hear ''the war'' was a problem. Another day and another issue. Some say he is fighting for oil and then they say he is doing nothing to get us oil. That sand gets deeper every day.

[SpiritOne]

Are gas prices 100% George W Bush's fault? No. There is plenty of blame to spread around. But the fact remains that oil was $30/barrel 8 years ago. Part of the problem is the complete ineptitude of our entire government looking the other way while we pump $3.70/gallon and Exxon posts record profits for an American company. Sure, the cost of oil is rising, and Exxon and others companies are passing the rising costs to consumers, and then raising it again to make a buck.

Our current congress made lots of promises, so far all they have done is a lot of talk.

[rholland]

You can blame every politician in Washington, and everyone in the USA that voted for them, since 1973.
In 1973 we had an economic war with the Middle East over who would control the price of oil.
OPEC, with the help of environmental groups here and some of our key politicians, won.
We Americans have a major problem when it comes to conflicts. Long term to us, is about two months, long term to the Middle East is 100 years or more.
We are at their mercy now and until we develop our own energy supply.
At least GW tried to open up drilling in our areas, but was stopped by Republicans and Democrats, in Congress.
We are at the point were we have to change, we cannot force OPEC to sell us oil at the price we want to pay so we have to learn to live with the situation.

[rholland]

Originally Posted by SpiritOne

Are gas prices 100% George W Bush's fault? No. There is plenty of blame to spread around. But the fact remains that oil was $30/barrel 8 years ago. Part of the problem is the complete ineptitude of our entire government looking the other way while we pump $3.70/gallon and Exxon posts record profits for an American company. Sure, the cost of oil is rising, and Exxon and others companies are passing the rising costs to consumers, and then raising it again to make a buck.

Our current congress made lots of promises, so far all they have done is a lot of talk.

Exxon's ROI is less than Google, Microsoft, Apple, and most other American companies. They have a responsibility to their stock holders, not you and I, to do as good as they can, and 8 cents on the dollar is not outrageous.

[chunko]

George bush has not done a damn thing to improve our energy policy.

You vote an oil man in office, you can be damn sure we won't be looking for alternatives.

While we can't blame george on the price, we can blame him for having a sh*tty energy policy that makes us slaves to John Q. Towlie and the Russians.

We need to get off oil...fast. Let china pay those outrageous prices.

If we can give 90 year old men boners, we can make cars that run on something other than dead dinosaurs...we simply need to divert more research to it...

Also, war in the middle east drives oil up crazy high (uncertainty, futures markets...I won't get into it...but trust me I no lie). So in that sense, we can blame bush for high oil prices, because he pushed harder than anyone to get us into Iraq...

[rholland]

Originally Posted by adavis99

George bush has not done a damn thing to improve our energy policy.

You vote an oil man in office, you can be damn sure we won't be looking for alternatives.

While we can't blame george on the price, we can blame him for having a sh*tty energy policy that makes us slaves to John Q. Towlie and the Russians.

We need to get off oil...fast. Let china pay those outrageous prices.

If we can give 90 year old men boners, we can make cars that run on something other than dead dinosaurs...we simply need to divert more research to it...

Also, war in the middle east drives oil up crazy high (uncertainty, futures markets...I won't get into it...but trust me I no lie). So in that sense, we can blame bush for high oil prices, because he pushed harder than anyone to get us into Iraq...

Ride a bicyle, then you will be doing something

[Bayou Titan]

Originally Posted by TallTexan

Why do liberals only look at Bush for all our problems, including the oil prices. Take a look at prices before the liberal congress took over.

I remember paying 98¢ a gallon for gas while Clinton was in office.