Dismiss Notice
Thanks for being a member of our community. Please donate toward site expenses if you can.

Obama: "we can’t just drill our way to lower gas prices"

Discussion in 'Current Events' started by MolonLabe2009, Dec 8, 2014.

Page 1 of 7
  1. MolonLabe2009

    MolonLabe2009 Banned

    Joined:
    Dec 10, 2009
    Messages:
    33,092
    Likes Received:
    15,284
    Trophy Points:
    113
    Do you remember back in 2012 when Obama said "we can’t just drill our way to lower gas prices”.

    Well, apparently he was wrong, again...

    As soon as the World market knew that the U.S. could and is drilling more crude oil than it is importing, the markets started to adjust.

    Just another case of Obama not knowing what the hell he is talking about.
     
    MolonLabe2009, Dec 8, 2014
    #1
    sawyer and Wehrwolfen like this.
  2. PT Again

    PT Again New Member

    Joined:
    May 22, 2014
    Messages:
    3,127
    Likes Received:
    10
    Trophy Points:
    0
    This is not market adjustment...........

    This is OPEC tying to squeeze out US production.........

    We are close to cap the wells price
     
    PT Again, Dec 8, 2014
    #2
  3. wgabrie

    wgabrie Well-Known Member Donor

    Joined:
    May 31, 2011
    Messages:
    13,891
    Likes Received:
    3,080
    Trophy Points:
    113
    Gender:
    Male
    Hmm, I don't remember that. But yes it turns out Obama was wrong. :hmm:

    But this price drop will squeeze out US oil companies. They can't survive on lower oil prices, especially in a costly place like the USA. After the coming collapse, it's going to be a long time before people start drilling oil in the USA again.
     
    wgabrie, Dec 8, 2014
    #3
  4. BestViewedWithCable

    BestViewedWithCable Well-Known Member

    Joined:
    Apr 26, 2010
    Messages:
    48,288
    Likes Received:
    6,966
    Trophy Points:
    113
    Thats fine, as long as oil stays at $40/barrel.
     
    BestViewedWithCable, Dec 8, 2014
    #4
    Wehrwolfen likes this.
  5. wgabrie

    wgabrie Well-Known Member Donor

    Joined:
    May 31, 2011
    Messages:
    13,891
    Likes Received:
    3,080
    Trophy Points:
    113
    Gender:
    Male
    You don't get it do you? There isn't going to be $40 per barrel oil once the USA shuts off the pump and OPEC gets a monopoly on oil again. :eekeyes:
     
    wgabrie, Dec 8, 2014
    #5
  6. TexMexChef

    TexMexChef Well-Known Member

    Joined:
    Mar 5, 2014
    Messages:
    2,333
    Likes Received:
    503
    Trophy Points:
    83
    That is why the XL Keystone has dropped off the radar...bringing in more oil now does not seem like a good idea with American Producers almost at the PPB price that fracking becomes unprofitable.
    [I understand the pipeline would not start immediately, but the message would]

    That is hundred of workers layed off. Requests for domestic drilling permits have decreased by half.

    Domestic shale producers are not expected to remain profitable at below $65 PPB. Oil is at $63 PPB today.
     
    TexMexChef, Dec 8, 2014
    #6
  7. BestViewedWithCable

    BestViewedWithCable Well-Known Member

    Joined:
    Apr 26, 2010
    Messages:
    48,288
    Likes Received:
    6,966
    Trophy Points:
    113
    Then America will turn on the pump again....
     
    BestViewedWithCable, Dec 8, 2014
    #7
    Wehrwolfen and vman12 like this.
  8. JoeSixpack

    JoeSixpack New Member

    Joined:
    Apr 11, 2012
    Messages:
    10,940
    Likes Received:
    72
    Trophy Points:
    0
    Some folks are saying that this slide in prices is a sign of another impending crash.

    Who knows for sure, the cost of oil goes up and down like Miley Cyrus's panties, with no rhyme or reason either.
     
    JoeSixpack, Dec 8, 2014
    #8
    Wehrwolfen likes this.
  9. MolonLabe2009

    MolonLabe2009 Banned

    Joined:
    Dec 10, 2009
    Messages:
    33,092
    Likes Received:
    15,284
    Trophy Points:
    113
    Really? Here you go...

    [video=youtube;Xc5dRxHBWVQ]https://www.youtube.com/watch?v=Xc5dRxHBWVQ[/video]
     
    MolonLabe2009, Dec 8, 2014
    #9
    Wehrwolfen likes this.
  10. PT Again

    PT Again New Member

    Joined:
    May 22, 2014
    Messages:
    3,127
    Likes Received:
    10
    Trophy Points:
    0
    And your 401K never makes a dime
     
    PT Again, Dec 8, 2014
    #10
  11. toddwv

    toddwv Well-Known Member Past Donor

    Joined:
    May 18, 2009
    Messages:
    30,444
    Likes Received:
    6,429
    Trophy Points:
    113
    Actually, oil prices are plummeting because demand is down in several regions like the US, China, Europe, and South America.Production is up in several oil producing areas including the US, Russia, Libya, Iran.

    Now we get to watch as conservatives start trying to kill alternative energy again, since we "don't need it," once again setting us up for a bitter fall when prices recover.
     
    toddwv, Dec 8, 2014
    #11
  12. PT Again

    PT Again New Member

    Joined:
    May 22, 2014
    Messages:
    3,127
    Likes Received:
    10
    Trophy Points:
    0

    Keystone has nothing to do with it.

    Two separate sectors of O&G.
     
    PT Again, Dec 8, 2014
    #12
    Wehrwolfen likes this.
  13. PT Again

    PT Again New Member

    Joined:
    May 22, 2014
    Messages:
    3,127
    Likes Received:
    10
    Trophy Points:
    0

    Actually

    No

    Try sourcing these bogus claims
     
    PT Again, Dec 8, 2014
    #13
  14. sec

    sec Well-Known Member

    Joined:
    Aug 20, 2008
    Messages:
    31,748
    Likes Received:
    7,814
    Trophy Points:
    113

    and here I thought it was because people were inflating their tires and tuning up their cars

    [video=youtube;XzZNP4tTfV0]https://www.youtube.com/watch?v=XzZNP4tTfV0[/video]
     
    sec, Dec 8, 2014
    #14
  15. wgabrie

    wgabrie Well-Known Member Donor

    Joined:
    May 31, 2011
    Messages:
    13,891
    Likes Received:
    3,080
    Trophy Points:
    113
    Gender:
    Male
    That's a good point, actually.

    - - - Updated - - -

    Oh, okay. I feel bad but I don't actually listen to the President's weekly video addresses.
     
    wgabrie, Dec 8, 2014
    #15
  16. BestViewedWithCable

    BestViewedWithCable Well-Known Member

    Joined:
    Apr 26, 2010
    Messages:
    48,288
    Likes Received:
    6,966
    Trophy Points:
    113
    I disagree.

    High gas prices, and High gas taxes retard all economic activity.
     
    BestViewedWithCable, Dec 8, 2014
    #16
    Wehrwolfen likes this.
  17. IDNeon

    IDNeon Banned

    Joined:
    Nov 22, 2014
    Messages:
    793
    Likes Received:
    3
    Trophy Points:
    0
    No, because all the pumps will have gone bankrupt and the US will be reeling from another "debt-bubble" recession.

    You don't know anything about the oil industry.

    - - - Updated - - -

    So...then based on your theory, low gas prices and high gas taxes retard both the oil industry (the only job growth sector) and the regular economy?
     
    IDNeon, Dec 8, 2014
    #17
  18. BestViewedWithCable

    BestViewedWithCable Well-Known Member

    Joined:
    Apr 26, 2010
    Messages:
    48,288
    Likes Received:
    6,966
    Trophy Points:
    113
    Its in the American peoples best interest to keep gas prices low.

    The sudden rise in gas prices is what caused our current depression.
     
    BestViewedWithCable, Dec 8, 2014
    #18
    Wehrwolfen likes this.
  19. Gorn Captain

    Gorn Captain Banned

    Joined:
    Aug 7, 2012
    Messages:
    35,580
    Likes Received:
    237
    Trophy Points:
    0
    Oil prices dropping....

    and we are not "Drill Baby Drilling" in ANWR or Yosemite or every stretch of shore-line like the Right want.

    Funny...because they kept telling us it was the ONLY way to see prices drop???
     
    Gorn Captain, Dec 8, 2014
    #19
    WillReadmore likes this.
  20. IDNeon

    IDNeon Banned

    Joined:
    Nov 22, 2014
    Messages:
    793
    Likes Received:
    3
    Trophy Points:
    0
    Don't apologize for your salient points about the "Fracking bubble".

    Low gas prices today could collapse the whole banking industry tomorrow.
     
    IDNeon, Dec 8, 2014
    #20
  21. Gorn Captain

    Gorn Captain Banned

    Joined:
    Aug 7, 2012
    Messages:
    35,580
    Likes Received:
    237
    Trophy Points:
    0
    Really? What economist said that?
     
    Gorn Captain, Dec 8, 2014
    #21
  22. MolonLabe2009

    MolonLabe2009 Banned

    Joined:
    Dec 10, 2009
    Messages:
    33,092
    Likes Received:
    15,284
    Trophy Points:
    113
    Combined with the fact that since 2008, the U.S. has increased its oil production by 50%.

    It's both supply and demand.
     
    MolonLabe2009, Dec 8, 2014
    #22
  23. IDNeon

    IDNeon Banned

    Joined:
    Nov 22, 2014
    Messages:
    793
    Likes Received:
    3
    Trophy Points:
    0
    You aren't the least bit suspicious that no one has an answer to "WHY" oil prices are dropping? No one can figure out why OPEC decided to break its usual modus operandi and to just keep producing higher than they need to?
     
    IDNeon, Dec 8, 2014
    #23
  24. BestViewedWithCable

    BestViewedWithCable Well-Known Member

    Joined:
    Apr 26, 2010
    Messages:
    48,288
    Likes Received:
    6,966
    Trophy Points:
    113
    We used to have many more industries in America besides the oil industry, and now its all we have.....

    Why you may ask? Because Americans didnt budget for the price of gas to double in less than 6 months.

    - - - Updated - - -

    I know why.

    Because we can use our economic weapon of mass destruction on Russia and Iran.
     
    BestViewedWithCable, Dec 8, 2014
    #24
  25. MolonLabe2009

    MolonLabe2009 Banned

    Joined:
    Dec 10, 2009
    Messages:
    33,092
    Likes Received:
    15,284
    Trophy Points:
    113
    I don't either, but what he said was in the news.
     
    MolonLabe2009, Dec 8, 2014
    #25
Page 1 of 7

Share This Page