I don't remember how much I paid back then, so I looked it up. It's not something worth using brain cells on remembering. I tend to stick with more official sources so unless you're telling me that the DOE was wrong (or perhaps I read through the spreadsheet data too quickly), then how is it a correction?
Alright I'll give it a shot. I only read the last couple of pages, since the posts turned into an argument about medical insurance? Anyways, I apologize if something has already been posted. I will also mention that I work for a big oil company, which I am sure will be reflected in my opinions. IMHO, the gas prices are based on three things, so I will just touch on those. The first cause is the rising global demand. There isn't much that can be done about other country's increasing demand, unless we take one out; India would probably be the easiest target (Joke). At home, alternate fuel sources is obviously an answer, but one that doesn't seem to be working. The administration has funneled untold amounts of money to these green initiatives, and pushed their agenda hard, but it seems to have little effect. Ethanol seems to have fallen flat on its face, and overall Americans just don't want little electric cars. I don't buy into too many of the internet theories, but I really do believe this administration likes the high gas prices as it furthers their cause. I will touch on this later. One thing I don't understand is why they push hybrids/electric cars so hard. (I am guess because of lobbyists). We have an unbelievable supply of domestic natural gas, which is at very low price levels, yet no one ever seems to mention this as a viable solution to lowering dependence on foreign oil. For example, here in Oklahoma one of our competitors is converting their entire fleet to natural gas. They have setup two stations; it costs about $15 to fill your tank, and will go ~250-300 miles. Many of our crews are debating spending the $4-5k to convert their trucks over, the savings will make up for that in no time, and the loss of power/range is nowhere near that of electric cars. The second cause is the declining supply, or to be more accurate, the expected increase in cost to resupply in the future. Since we can't really control stuff in the rest of the world (Like the turmoil in the middle east, even though we will meddle anyway), I'll only focus on what we are doing here which seems to be choke off as much of the domestic reserves as possible. The Macondo was a horrible tragedy that shouldn't of happened, but we shut down 30% of our domestic production for an ENTIRE YEAR. On top of that, all production from the gulf in the future will be affected because those drilling rigs that left aren't coming back for at least 10 years. Drilling in Alaska has essentially been shut down because of the environmental restrictions (Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans - FoxNews.com). Everyone in my industry is speculating that similar restrictions will soon be moving throughout the rest of drilling in the US, and soon to the shale/gas plays that have been keeping the industry at home going. That Exxon article also mentioned cutting supply from Canada, which I had not heard about until I read that. In short, the administration is doing nothing to aid in the potential shortage of supplies in the future. The only thing I have seen posted here is cutting oil subsidies; as that Exxon article stated "Over the past five years, we incurred a total U.S. tax expense of almost $59 billion, which is $18 billion more than we earned in the United States during the same period." I really don't think more taxes will be the answer, but I guess some political grandstanding is needed. I don't necessarily mind the loan to Brazil; I would much rather we get our oil from there than the middle east (Partially because I might end up working at one or the other). But taken with the other actions of the administration (Even though this is from Bush people), it sends a clear message to all the people working domestically in Oil&Gas: look for another job, because we doing all we can to send it abroad. This is a real problem that seems to get glossed over in all this environmental/cost of gas talk….a lot of people in this country livelihoods depend on this industry. BP really f***** up, but if they had gone bankrupt and didn’t pay all the compensation the have, I can’t imagine how many of my friends and family would have made it through the past year. Finally, the dollar is weak. I don’t want to get into who is to blame for the situation, but there is a limit to how much you can blame the last guy. Obama has been in office for over two years, we are printing money at unprecedented rates, and our debt is spiraling out of control. The democrats controlled the houses and could've done a lot to curb spending at the time. Instead, they forced their agendas without any bi-partisan support, pissing off the GOP and essentially drawing a line in the sand. Now both parties are so entrenched in their "values" that they would rather watch the ship go down than negotiate with their peers. Wow this got long, sorry about that. In short: Demand, not much can do, but the administration will continue to force their agendas of green energy. Supply, we are making worse in almost all fronts. The weak dollar, we are making worse, and seems to only be getting worse. Gas will be $5-6 before the end of the summer, and maybe that is what this administration wants.
It takes time to move off the fossil fuel standard. We can't just snap our fingers. It's a finite resource and we must start transitioning early. We can't wait until it is gone and then start figuring out alternatives. You answer your own question. Moving more electrical power generation to natural gas from coal is green, especially when some of that power goes to charging electric vehicles. Another alternative that will be tried. But I think it has only really proved popular and successful in fleet vehicles so far. People have a fear of pressurized gas and fillup is complexx compared to plugging an extention cord into any AC outlet and charge the battery for about $2.00 in electricty. Another case can be made for retaining some domestic reserves for now. While it seems high now, oil is cheap compared to what it will be in 50 or 100 years when supplies are scarce and wars will be fought over access. While oil is still an affordable international commodity, why not deplete foreign reserves instead of our own? In 100 years we may be very grateful that we still have domestic oil reserves when none is being offered from abroad anymore. $4 billion a year in oil subsidies during a fiscal crisis is irresponsible for a government when those industries are making huge and unprecedented profits. They need little incentive and deserve no corporate welfare. There is also a limit on how much you can blame Obama for a situation he inherited from the last guy, two huge expensive wars, a crashed economy, bailed-out banks, and an impending depression. The market has recovered, the recession ending a year ago, GDP is up, unemployment is down, we're almost out of Iraq, and the banks are paying the loans back with interest. Which is exactly what the Republicans did in their six years of total control, it is the Karl Rove doctrine that you can take a small majority and act as if you have a mandate. They thought that they would rule "for 40 years", but instead lost it all to the democrats and are now suffering some payback that they should have expected. I don't know if the two parties will ever be able to work for the good of the people anymore, it is all about party now. We need a third party in the middle really badly.
Not really. One of the news networks here had a special on it the other day. It is in fact just that easy. The stations JM talked about are really nifty. They have a special nozzle that goes right into the tank just like if it were gasoline. Quite simple. My grandfather (RIP) ran his vehicles on butane for as long as I can remember. Car had 300k on it and the engine was spotless.
Technology is moving at an exponential rate. Seems quite a reach to think we will still be using gas in our vehicles in 50-100 years. If that is the administration's reasoning, we are saving for a rainy day that won't come. In the meantime, an entire industry of workers (And all the industries that support it) are being bent over the table, and the entire nation is feeling it at the pumps. We paid GE how much in taxes? More taxes and regulations will only encourage more oil and gas companies to move offshore and use the loopholes that GE is exploiting. They are already paying more in taxes than they make here, with no "light at the end of the tunnel" of regulations stopped being imposed, and it getting any cheaper to drill here. What little incentive they have to be here, you want to take? Honestly I can't disagree with taking away subsidies with their profits, but seems completely hypocritical the way other corporations work around the taxes (And in some cases, get paid to do it). Didn't he campaign on getting out of those wars? Aren't we now involved in a third? It is silly to debate whether the bail out worked or not, because we don't know how things would've gone without it, but IMO we can stop with the printing press of money at this point. Companies have huge cash reserves they simply aren't using; its time to let the free market decide who survives and who doesn't. At what point does this administration start taking responsibility for its decisions? Does it have a free pass for the next two years because of what they inherited? Couldn't agree with you more. Unfortunately the unions, lobbyists (for both sides), and the pockets of every politician in Washington they are lining won't allow that anytime soon.
I didn't say more taxes, I said cut subsidies. They don't need them. It is corporate welfare. Crocodile tears. Unprecedented profits is incentive enough for a major corporation. Subsidizing them is irresponsible. Yes, I can see how you would want to forget the incomptence of the last administration. Agreed. Level the playing field. Abolish all agricultural and oil subsidies including tax subsidies. When has it not taken responsibility for its decisions? Be specific. Why do you suggest that it take responsibility for decisions of the last administration? More than anything, it is the Electoral College, an outdated relict of the 18th century. The winner-takes-all system in each state effectively prevents small parties from getting a toehold.
I thought you understood how the tax breaks for oil companies are not subsidies at all. Do you need me to explain it again. Subsidy: Farmer, here is a million dollars that we took from some other dudes. Tax Break: Oil Company, because you already paid us 100 million dollars to lease this land reduce your tax liability by X percent, and keep some of the money you earned.
I rejected this foolish argument weeks ago and showed you the definitions of tax a subsidy. You can go look it up.
