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Old 09-13-2008, 08:04 PM
27,903 posts, read 33,414,651 times
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Sept 12 2008

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Old 09-13-2008, 08:26 PM
Location: Pennsylvania, USA
5,217 posts, read 4,111,192 times
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Originally Posted by BigJon3475 View Post
Very informative.. thank you
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Old 09-17-2008, 01:40 PM
Location: The 719
13,624 posts, read 21,483,824 times
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So I want to study this further, but I got to the part that said that "we" own Big Oil.

So these record profits would affect the 55 million some households who own a huge piece of this pie through mutual funds and some 45 million through IRAs or personal retirement accounts, and that...


So when politicians say we should go after these "HUGE PROFITS", whom are they going after?
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Old 11-24-2008, 05:32 PM
Location: Not where you ever lived
11,544 posts, read 25,070,616 times
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If we own BIG OIL why are we paying Saudia Arabia $73B every year for more of it" More importantly, why did the congress sut down the Tx. KS, and OK oil wells a few years ago?
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Old 11-25-2008, 09:33 AM
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Congress never shutdown the oil wells. Most of the nonproducing oil well take a very high price to be worth putting into production. For e=xample a well nearby was put into prodction just about a year ago after years of being shutdown. It produced 15 barrels a day and cost 300,000to put back into production. But now it will be shut backdown becuase it can turn a profit. The fact is that Texas is way apst out peak in produciton and most comes from off shore which is also much hihg to produce than land based drillihng.Alot of exploration for land based is now slowing as it becojme too expensive for the profits made.Right now no one wants to drill but when demend goes back up and prices increase they will start again. They learend a very valuable lesson in the 70';s embargo wyhen most went bankrupt.
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