The basics of Kim's post was that the dim Senator Durbin believes in Socialism. That the government can limit how much profit a company can make and if you make too much, they government can write a specific tax to take your earnings. This is a reference to the proposed Windfall Profits Tax on oil companies.
So for your reading displeasure (I hope this stirs your blood), the real basics on oil and socialism.
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I wish I had gotten them memo when Turbin Durbin changed his name to Richard. When he was elected (not by me), he ran as DICK.
Like you said, Kim, there is no limit on what they can make. And when you really look at what oil costs per barrel versus what it cost when gas was $1.30/gallon-oil companies are actually making a smaller percentage of profit. If the price per barrel and the price at the pump were actually directly tied, we would be complaining about $5.00 gas, not $4.00.
Don’t get me wrong, I HATE paying almost $4.00/gallon (my last three fill ups were $3.879, $3.879, $3.92, but I have been as high as $3.989). If I payed $3.929 for every tank of fuel all year, it would cost me $5,500 just to drive to work! Over 16% of what I take home goes to paying for gas so I can get to work.
But, I also believe absolutely in Capitalism. They have a right to make money.
If we want real relief at the pump there are several things that need to happen.
1. Vote the Democraps out. They are quick to blame Bush and his “oil buddies” for these high prices, but really, it is the Dems that force us to pay at the pump.
2. Build new refineries. Again-blocked by typical bureaucratic red tape. Although, I heard last week that the first new oil refinery in the U.S. in something like 30 years is being built in South Dakota-directly tied to one of my other points.
3. Drill in the Alaskan National Wildlife Refuge (ANWR). I am a hunter, and general lover of the outdoors, but I KNOW that with RESPONSIBLE drilling, we can tap oil reserves in ANWR with a minimal impact. Wildlife adjust to changes better than humans do anyway. But being blocked by the DEMS.
4. Off Shore Drilling along the continental shelf. Again-with RESPONSIBLE drilling, this can be done with a very minimal effect on wildlife/ecosystems. But being blocked by the DEMS.
5. Work the Canadians to tap the Alberta Oil Sands. From what I have read, there is more oil in Alberta, Canada than in Kuwait. From Wikipedia ”The Alberta government’s Energy and Utilities Board (EUB) estimated in 2007 that about 173 billion barrels (27.5×109 m3) of crude bitumen are economically recoverable from the three Alberta oil sands areas based on benchmark WTI market prices of $62 per barrel in 2006, rising to a projected $69 per barrel in 2016 using current technology. This was equivalent to about 10% of the estimated 1,700 billion barrels (270×109 m3) of bitumen-in-place.[7] In fact WTI prices topped $133 in May 2008. Alberta estimated that the Athabasca deposits alone contain 35 billion barrels (5.6×109 m3) of surface mineable bitumen and 98 billion barrels (15.6×109 m3) of bitumen recoverable by in-situ methods. These estimates of Canada’s reserves were doubted when they were first published but are now largely accepted by the international oil industry. This volume placed Canadian proven reserves second in the world behind those of Saudi Arabia.”
6. Start tapping into the oil in the oil shale in the green river basin. From Wikipedia ”A 2005 estimate set the total world resources of oil shale at 411 gigatons — enough to yield 2.8 to 3.3 trillion barrels (520 km³) of shale oil.[2][3][4][5] This is more than world’s proven conventional oil reserves, estimated to be 1.317 trillion barrels (209.4×109 m3), as of 1 January 2007.[21] The largest deposits in the world are found in the United States in the Green River basin, which covers portions of Colorado, Utah, and Wyoming; about 70% of this resource is located on federally owned or managed land.[22] Deposits in the United States constitute 62% of world resources; together, the United States, Russia and Brazil account for 86% of the world’s resources in terms of shale oil content.[19]”
If you figure there are 2,800,000,000,000 barrels of oil, of which 62% are in the United States, and based on a consumption of 20.8 million barrels of oil/day in the U.S (from the CIA at https://www.cia.gov/library/publications/the-world-factbook/print/us.html ), there is enough oil in the United States JUST IN OIL SHALE to supply us at our current (2005) consumption for 228+ YEARS.
Thanks ya bunch of Donkeys.
Something else worth mentioning that I heard on NBC this morning (a very left leaning "news" source), the biggest oil companies in the U.S. only account for 10% of the world oil market.
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4 comments:
Yea. Democrats are to blame for many of the "eco" reasons for not drilling. But it's what's wrong with this administration. They should have concentrated on alternatives to oil instead. Maybe even a hybrid type of oil blend. Like B5 for example. Oil is blended with biodiesel to get the result. The end result produces NO greenhouse gases, reduces emissions, and it helps conserve 400 MILLION gallons of oil. Check out the site here: http://oilheatamerica.com/index.mv?screen=bioheat
I found it while working for NORA. Will it be the future of oil?
It's free market, let the companies charge what they want, people can complain, but hey if they are going to pay for it, then they do. I mean honestly. It's why I don't buy a lot of things, because it's expensive. (IE Organic Food, Designer clothes, electronics, and the Tesla Car)
I've reduced the amount I drive my truck right now by about 80%. I used to fill up with gas about once a week, now I haven't filled up since May 15th. Gas up here is $4.19 a gallon.
As for E85 and biodiesel. When you have a vehicle that gets 10 mpg, the loss in MPG you get from biodiesel makes it less cost effective to buy it than to buy regular gas. E85 up here was $3.89 this morning.
Save the "alternatives" until we can make them economically viable. Bio-diesel give you less mpg, and costs more both at the pump and the supermarket.
Drill our own oil, refine our own gas. Stop allowing every douchebag to sue everytime somebody wants to drill or build. That right there is probably 70-80% of the problem.
My last fill up was $3.87. But I am still being picky about how much I drive. I can't avoid the 100 miles/day to get to work. But in the evenings, I am more selective about where I go and how I get there.
E85 and bio-diesel are kinda like Chemotherapy for cancer. It is not a cure, but it is a treatment option. The station I drive by every day that sells E85 has had it for $3.039 for weeks. You'll hear it said that it takes 1 gallon of oil to make 1.3 gallons of ethanol. What they aren't figuring in that quantity is that the oil to produce the crops is going to be used whether the corn goes to ethanol or food. The crops are going to be grown. The biggest reason I use ethanol in my truck (E10-the 10% blend), is because that is 10% of my fuel that supports American farmers and American jobs, and it means I am at least 10% less dependent on foreign oil. THAT is the reason to use ethanol-it reduces foreign dependence.
On bio-diesel, one of my bosses makes his own bio-diesel from used cooking oil and runs his truck on 100% bio-diesel. No modifications to the truck, just a 2000 Ford F250 Crew Cab with a Powerstroke diesel engine from the factory. He said he loses maybe 10-16 footpounds of torque and 1 mile/gallon in fuel efficiency. At $0.60/gallon, worth the time and effort for him.
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