Oil Companies continue to fleece Americans

[texaspackerbacker]

It hasn't happened, and it probably won't happen, though, because the leftist mainstream media has been so damned effective at brainwashing people to accept the BOGUS environmentalist crap of the Dem/lib Algore crowd.

The mere fact that it is so OBVIOUSLY in America's best interest to use our own oil sources is not enough to make it happen in the context of this skewed public perspective that has been created.

And much as I favor McCain over the Dems, on THIS issue, he isn't the answer either.

[retailguy]

Great post. Here's my take. We don't have a whole lot of options to get out of this mess. I only see 2 things you can do.

1) Reduce our dependency on foreign oil. (Drill more of our own.)
2) Reduce our dependency on oil. (fund research on alternative energy.)

That's it. The little congressional dog and pony show critisizing profit levels does NOTHING to address the problem. All it was intended to do was enhance approval ratings.

Well said Scott. I'd agree, but maintain, that we probably don't even need to ACTUALLY drill. We just need to be "willing" to drill. No one wants more competition. These 3rd world countries that are trying to get rich by mining their oil, don't want any more free flowing oil than we have today. They have wells in place and would reduce prices to a level where it is not economic for us to pursue drilling. Right now, the only thing most Americans want is cheaper oil. But, today, what reason do the Angolans and the Venezuelans have to reduce prices?

As to alternative energy, I believe that it will happen when the time is right. Necessity is the mother of invention. When it becomes economical to switch, most will switch and companies will market products that they think will generate a profit. There is no need to 'artificially' force or fund development.

For example, I am intrigued by hybrid cars but at this point, I'm unwilling to invest in the technology. Every analysis I've done shows that the additional monies spent on the cost of the vehicle, combined with the increased maintenance for the technology, combined with the environmental issues (what the hell are we going to do with all these damn batteries?) just don't make it feasible for me right now. My gas guzzler is the cheapest commuting mile for me right now, and until that changes, I'll keep driving it.

[Scott Campbell]

And much as I favor McCain over the Dems, on THIS issue, he isn't the answer either.

That's possibly the only silver lining to $5/gallon gas. At some price point, there will be only one answer.

[retailguy]

It hasn't happened, and it probably won't happen, though, because the leftist mainstream media has been so damned effective at brainwashing people to accept the BOGUS environmentalist crap of the Dem/lib Algore crowd.

The mere fact that it is so OBVIOUSLY in America's best interest to use our own oil sources is not enough to make it happen in the context of this skewed public perspective that has been created.

And much as I favor McCain over the Dems, on THIS issue, he isn't the answer either.

Tex - I'm the biggest right wing nut you'll find, in fact, when GWB's popularity reaches 5%, it'll be me, you, Dick, Laura, Jenna & Barbara that still support him. But, GWB, is out to lunch on this issue. He's as gutless as the other side.

He's as moved by the environmental nuts as Al Gore ever was.... Republicans aren't the solution either, sad to say.

So, in the meantime, I'll just keep gasing up the car. They could make it $7.00 a gallon, and I'm NOT riding the bus.... I'll just stop buying other durable goods. Then those prices will fall as sales slump. Eventually, everything with either be free, OR, someone will step up to the plate and solve the problem.

[Scott Campbell]

There is no need to 'artificially' force or fund development.

I think the reason is very much the same as your example to threaten drilling above. Both moves would give the appearance of softening demand.

[retailguy]

There is no need to 'artificially' force or fund development.

I think the reason is very much the same as your example to threaten drilling above. Both moves would give the appearance of softening demand.

Yeah. I'll buy that. But I'll also say that there is more development of alternative energy than is readily apparent. I don't think that the Government needs to throw money at it. Private industry is doing a good enough job.

Hybrid cars are a good example. Ethanol plants are another one. Now there is talk about privately funded ethanol pipelines. (Ethanol can't flow in existing oil pipelines because of it's attraction to water... Water and steel cause rust. Not a good idea for a pipeline...)

[Joemailman]

Tex - I'm the biggest right wing nut you'll find, in fact, when GWB's popularity reaches 5%, it'll be me, you, Dick, Laura, Jenna & Barbara that still support him.

Not to worry RG. It'll never come to that. I'd say a good 30% of the country are right wing nuts. You won't be lonely.

[Little Whiskey]

(and run more crude, and get extra, more undesirable products too, ie. Sulfur, Asphalt, Coke, etc)

See that Tyronne?!!!! you can get coke from gasoline!!! even at 4 bucks a gallon its gotta be cheeper than your supplier.

[Freak Out]

I know you guys aren't stupid so I'll just have to assume you are ignorant of the situation up here. We just have to be "willing" to drill? We are drilling..in more places than ever and there will be more holes poked in the ground offshore this spring and summer. We have huge reserves here, some massive strategic reserves for the military but many others have been opened by the Fed, State or Local governments and are open for drilling. Lease sales have been huge the past year and this time they will be developed....now that we finally have started locking up some of the corrupt politicians in the State and we have a Governor and a State Legislature that is going to force the Majors to develop the leases they bought instead of just sitting on them for 30 fucking years. Once we get a deal done for a gas line it will be a gold rush days all over again. I now have contracts with Chevron/Unocal, BP, Conoco Phillips, Shell and Eni. Both Shell and Eni have been added in the last two years. There are other new players as well that have been drilling onshore for the last 6 years. Of course there will always be a few hurdles (lawsuits, Marine mammals, subsistence whaling/hunting timing )in the way but worse things have been overcome to get the product to market.

[LL2]

I know you guys aren't stupid so I'll just have to assume you are ignorant of the situation up here. We just have to be "willing" to drill? We are drilling..in more places than ever and there will be more holes poked in the ground offshore this spring and summer. We have huge reserves here, some massive strategic reserves for the military but many others have been opened by the Fed, State or Local governments and are open for drilling. Lease sales have been huge the past year and this time they will be developed....now that we finally have started locking up some of the corrupt politicians in the State and we have a Governor and a State Legislature that is going to force the Majors to develop the leases they bought instead of just sitting on them for 30 fucking years. Once we get a deal done for a gas line it will be a gold rush days all over again. I now have contracts with Chevron/Unocal, BP, Conoco Phillips, Shell and Eni. Both Shell and Eni have been added in the last two years. There are other new players as well that have been drilling onshore for the last 6 years. Of course there will always be a few hurdles (lawsuits, Marine mammals, subsistence whaling/hunting timing )in the way but worse things have been overcome to get the product to market.

Your probably more of an authority on the issue of drilling in Alaska than any of us. I think there needs a combination of solutions at work. Such as drilling for more oil, plus R&D into technologies like hybrids for cars and huge solar power grids in the SW supplying power to cities. It doesn't bother me that Big Oil makes a ton of money in profits, at the same time I think it's naive to think our country doesn't need to invest in alternative energy and recycling what we use.

[Freak Out]

I know you guys aren't stupid so I'll just have to assume you are ignorant of the situation up here. We just have to be "willing" to drill? We are drilling..in more places than ever and there will be more holes poked in the ground offshore this spring and summer. We have huge reserves here, some massive strategic reserves for the military but many others have been opened by the Fed, State or Local governments and are open for drilling. Lease sales have been huge the past year and this time they will be developed....now that we finally have started locking up some of the corrupt politicians in the State and we have a Governor and a State Legislature that is going to force the Majors to develop the leases they bought instead of just sitting on them for 30 fucking years. Once we get a deal done for a gas line it will be a gold rush days all over again. I now have contracts with Chevron/Unocal, BP, Conoco Phillips, Shell and Eni. Both Shell and Eni have been added in the last two years. There are other new players as well that have been drilling onshore for the last 6 years. Of course there will always be a few hurdles (lawsuits, Marine mammals, subsistence whaling/hunting timing )in the way but worse things have been overcome to get the product to market.

Your probably more of an authority on the issue of drilling in Alaska than any of us. I think there needs a combination of solutions at work. Such as drilling for more oil, plus R&D into technologies like hybrids for cars and huge solar power grids in the SW supplying power to cities. It doesn't bother me that Big Oil makes a ton of money in profits, at the same time I think it's naive to think our country doesn't need to invest in alternative energy and recycling what we use.

Even though we still have lots of oil left in Alaska and the Gulf of Mexico as well as huge natural gas reserves were not going to drill our way out of the problems we are facing. Americans need to be much smarter with our consumption considering how fast other nations with massive populations are developing. I'm about as liberal as they come on most things but I'm what I call an "Alaskan Liberal" on some pretty practical matters that we face today regarding our energy needs among other things. I have hammered our Congressional delegation and other members of Congress as well as local politicians for years about renewing production of nuclear power facilities in the US and Alaska (where the fears of earthquakes makes it a hard sell). Toshiba was going to give us one for fucks sake and we said no. Pretty amazing little unit....almost turnkey.

[Freak Out]

For what it costs funding one month of the Iraqi operation we could build a pipeline to carry Alaskan natural gas to the lower 48.

[Freak Out]

BP joins Conoco Phillips in gas pipeline plan


By WESLEY LOY
wloy@adn.com

(04/08/08 16:56:54)

JUNEAU - BP announced this morning it will join Conoco Phillips to plan a natural gas pipeline from the North Slope through Canada.

Conoco in November had announced a plan for a pipeline, but BP and Conoco executives said today in Anchorage that this is a fresh plan.

A third company, Exxon Mobil - the largest Slope gas holder - remains on the sideline and was not part of today's joint announcement from BP and Conoco.

BP's move seems to bolster Conoco's competing alternative to the pipeline proposal from TransCanada Corp., which is bidding for an exclusive state license and a $500 million subsidy under AGIA, the Alaska Gasline Inducement Act.

BP and Conoco said they will spend $600 million to plan for an "open season," a process where companies with gas to ship bid for space in the new pipeline. Then the companies say they will apply for certification from U.S. and Canadian pipeline regulators and "move forward with project construction."

"The Alaska gas pipeline will be a historic project, and we are pleased to be working with Conoco Phillips to move it forward," said BP chief executive Tony Hayward.

BP and Conoco dubbed their project "Denali."

They say they'll establish a new company and a project headquarters in Anchorage to manage Denali.

BP's action is reminiscent of the scenario that played out earlier this decade, when Conoco was followed by BP and then Exxon in a partnership seeking a "stranded gas" contract under the Murkowski administration.

That effort fizzled.

State lawmakers in Juneau have scheduled an 11:30 a.m. news conference to talk about the BP-Conoco announcement.