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Old 03-06-2012, 10:47 AM
28,900 posts, read 49,099,920 times
Reputation: 46320


Bill O'Reilly is a halfwit, and a blowhard to boot. I seriously question the intelligence of anybody who watches him for more than five seconds.
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Old 03-06-2012, 10:46 PM
Location: Wherever women are
19,011 posts, read 26,901,863 times
Reputation: 11309
Originally Posted by jimhcom View Post
The administration need no help discrediting themselves. And for that matter, neither do you.
If you're selling tomatoes, ask yourself if you will sell it to your family members at a subsidy or take it to the market where they pay you the highest per pound.

You'll probably say family members, which is exactly why you aren't selling tomatoes.
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Old 03-07-2012, 08:17 PM
12,798 posts, read 16,453,374 times
Reputation: 8823
Originally Posted by aaron2012 View Post
we really should be working harder on developing our natural gas reserves which would be a win-win for us.
That's right. The price is down to the moral equivalent of $15 a barrel. I hear some trucks are being made to run on either natural gas or gasoline. Enough vehicles converted over means we can export oil. We cannot export natural gas because no liquefaction plants exist, yet.
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Old 03-08-2012, 10:32 AM
Location: Bothell, Washington
2,800 posts, read 5,005,714 times
Reputation: 3971
Originally Posted by J152cc2 View Post
NO!!!!!!!!!! O'Reilly doesn't understand how imports and exports, and the energy industry work. I watched the show last night and anytime he opens his mouth about the energy industry he makes a fool of himself. I wish someone would go on there and call him on it.

The US exports about 1.3 million bbls of oil a day because:
1. Some of it doesn't meet US clean air requirements for refining (so we couldn't use it anyway)

2. US demand is down due to the recession-- we are coming out of a recession so demand is expected to increase in the next 1 - 2 years

3. Both importing and exporting a product is a part of being involved in global trade in the modern world. If you drill for and refine oil in North Dakota (Bakken) and have excess capacity, it would make no sense to pay all the transportation costs to send it to California. Much easier to just ship it across the border to Canada. In turn, Canada will ship some of their oil across the border to us from Vancouver... Canada both imports and exports oil. Hell, even California both imports and exports strawberries. In the modern world, there is no such thing as simply "exporting" or simply "importing"-- you have to do both.

The real question O'Reilly should be asking is... Why did Obama not approve the Keystone Pipeline?
My theory is that Warren Buffet (Chairman of Berkshire Hathaway-- who own BNSF railroad... who's main business comes from shipping crude on trains) told him not to. In turn, Buffet would support Obama's "Buffet Tax" initiative. Very dirty politics. There is no feasible reason for us to not build the pipeline.
The keystone pipeline thing is not some Obama/Buffet conspiracy, that is ridiculous. I am originally from Nebraska, and a lot of why this happened was because the general public as well as the state government of Nebraska (all VERY conservative) were against having the pipeline running through their state, worried potential leaks could contaminate the very large aquifer that is located in that area. They demanded that it either be re-routed through another state or be scrapped altogether.

Last edited by jm31828; 03-08-2012 at 10:40 AM..
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Old 03-08-2012, 07:36 PM
1 posts, read 933 times
Reputation: 10
Originally Posted by bradykp View Post
How would taxing this exported oil help us in the U.S.? Do we have a shortage of supply of oil in the U.S.? There's valid reasons why we import oil. We can't consume all of the oil we exctract for a variety of reasons.
There are claims that the foreign market causes the rise in gas prices. Taxing the oil export may potentially reduce its cost.

Originally Posted by wawaweewa View Post
You do realize that many Americans work for said corporations and make very good incomes. In fact I wish I worked for Chevron or Exxon because I've heard their corporate culture is excellent (in terms of work/life balance and perks) and their compensation/benefits generous.

Also, the "oil" industry in the US encompasses hundreds of small and mid cap companies across development, extraction, refining, manufacturing, and distribution. The giants are few and far between.

Taxing oil exports will do nothing but raise the price of oil. So all of that redistributed income will simply flow right back to the top. That's not a solution.
"Taxing oil exports will ... raise the price of oil" is not true unless all of the oil industry unilaterally agree to drive up the prices. Even if they did agree on driving up the prices, the prices will come back down due to competition... unless they also have a handshake on splitting the profit equally among all of the oil industries in the US.

Let say other countries are buying oil at $100/barrel and Americans are buying oil at $75/barrel. If there is a 50% tax on oil exports, then the oil industry makes $50/barrel by selling to foreign countries. Thus, the oil industry will [instead] meet the American demands and will sell the rest to foreign countries if they still want to sell. Additionally, competition (if there is enough supply, which there is enough supply) within the country will drive the prices no lower than $50/barrel in this scenario. Therefore, we will have cheaper gas prices (less than the current $75/barrel).

Last edited by swtdrgn; 03-08-2012 at 08:11 PM.. Reason: Respond to another post.
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Old 03-09-2012, 08:20 AM
Location: San Diego California
6,797 posts, read 6,626,572 times
Reputation: 5180
Originally Posted by J152cc2 View Post
The government issues these leases because the American people elect politicians who want to issue them. If the American people didn't want the leases issued on federal lands, they have the option of electing someone else.
Fact facts-- the majority of American people want a cheap supply of oil and gas, and the only way for this to occur is for more drilling here at home.
Hmm, you know for the life of me, I cannot remember the giving away of public assets ever being a election issue, or even being discussed for that matter.
In reality it is something that happens behind closed doors and with very little awareness of the public at large.
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Old 03-13-2012, 07:39 AM
199 posts, read 481,983 times
Reputation: 341
If oil is a supply and demand pricing, why is there a glut of oil and the price is so high?
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Old 03-13-2012, 10:20 AM
10,135 posts, read 24,686,297 times
Reputation: 8330
BOR is a moron. He spouts the most ridiculous economic theories I have ever heard.
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