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

Lol, WHAT?

 

I said that, just look at my post.

 

you obviously never heard of the Driller Treadmill.

The US supply is already maxed out.

And the first big plays like "Bakken" and "Marcellus" shales are already past peak oil and in production decline.

OOOOOOOH...never hear that on Sean Hannity do you?

 

What happened the second Bush lifted the presidential ban on oil drilling, and the congressional ban expired?

 

But we are fracking and shaling like crazy which the left hates.

 

Russia isn't being hurt by low oil prices the price per barrel is still 3600 Rubles. Russia is giving food to Iran for oil so Iran is being "bailed out".

Try again.

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We have to drill 7,000 new wells each month to keep production flat and that is unsustainable.

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Bush allowed oil companies to completely disregard EPA rules and financing rules so that now oil plays are "wastelands" and the companies are over-leveraged threatening our banking industry like the housing bubble.

You people aren't very good at thinking this through are you?

 

poppycock, America hasnt even started yet.

 

Pink unicorns flew from his ass.

Now, back to your moronic proclamation.............WHAT?

 

More competition means lower prices. It's one of the most basic laws of economics. Considering this I wonder how it's going to turn out with Obama's latest claim that giving 5 million illegals work permits to compete with Americans for jobs will increase wages. Will the laws of economics be wrong this time or will Obama be wrong again? Food for thought.

 

We can drill our way, use coal and other resources to become energy self sufficient. We spend approximate 600-800 billion dollars a year buying crude from overseas. That money goes to other countries to help their economy and supply jobs for them in other countries. We could have that money spent in the good old USA to help our own economy and create jobs here instead of overseas.

If we do become energy self sufficient, we would have to worry about protecting sea lanes which ship our crude or even what happens in oil producing countries and that would lessen the chance of war.

 

Nope, The second the US drilling bans were lifted Americas oil reserves became potential supply, and the price of gas dropped overnight.

 

I think it's in America's best interests to move toward a high-tech economy, Oil Companies can transition their capital structure to lowering the price of electric vehicles providing electric charging stations and opening new non-coal fired power plants, probably Nuclear, Geotherm, and Solar/Wind combinations.

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Not a single "fracking" company is profitable and every one of them is highly loaded in debt. Housing bubble anyone?

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No it is in fact a fact that the US Oil Shale is played out.

New wells lose up to 93% of their production in the first year, compared to ordinary wells which lose approximately 10% of production per year.

Which is why Russia's CEO of Rosneft said the US Fracking business is unsustainable and a myth.

 

Democrats backed T Boone Pickens and his fracking, namely nancy pelosi.

Democrats raised the price of gas to force America into T Boones Plan.

Banning Coal in power plants is so America can sell coal to europe at the cheapest possible price.

Converting power plants to natural gas, benefits T Boone Pickens and his fracking.

Fracking companies arent profitable, because no one needs the natural gas they produce, and thats why democrats are forcing America to pay higher electricty bills for natural gas.

What youre really seeing is democrats manipulating the American economy to make them and their donors rich, while simultaneously slapping every American citizen in the face, with higher bills and BS taxes.

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Pretty graph.

Now, back to your moronic proclamation........how did gas prices cause the housing bubble to burst and the plethora of foreclosures and impending mortgage crisis that actually caused the depression we just recovered from?

 

Oh thats easy, when democrats got elected in 2006, they started blocking oil production in multiple ways, thus driving the price of gas from $2.50 a gallon to $4.50 a gallon in less than 6 months. People and businesses with tight budgets couldnt pay their bills, like their mortgage, credit cards and the like. Businesses began to fail, people lost their jobs, and the tiny snowball at the top of the hill started rolling down, getting bigger and taking everything with it.

Oh and that graph is right on the money.



Nancy pelosi wouldnt allow a vote to lift the congressional drilling ban, she only allowed a vote to go on vacation early.

The drilling ban expired on october 1st, The world saw for the first time in a long time, the potential supply of Americas previously illegal oil reserves, and the market reacted.

 

Lol, don't you get tired of making (*)(*)(*)(*) up and getting caught, in virtually every thread you post in?

Can you name some economists who share your moronic and completely detached from reality view?

 

What does a community organizer know about oil production?

 

Why do you need someone to tell you want to think? Can't you use your own brain to decide whether his theory has merit or not? There are plenty of economists that consider high oil prices a factor that led to the recession (also past recessions) and many more who had these banks rated AAA just before they failed. If you disagree with his theory why don't you dismantle it using your own logic? The biggest problem today I swear is people not being able to or not wanting to think for themselves and use logic.

 

I guess you missed this part of my post:

"Production is up in several oil producing areas including the US, Russia, Libya, Iran."

 

Can you prove me wrong, or do you just do insults?

 

That's just a contrive number thrown out there. Nothing factual used to base that.

 

There is nothing factual about anything he posts

Just some Russian Troll

 

The left in general and Obama specifically doesn't understand how the free market works.

 

Silly Republicans love oil but do not understand how oil prices work.

 

I can assure there are very few card carrying liberals in the oil business...............

But by all means please edumucate us old wise one............