President vs. Arizona

[chickened]

There is another way to look at oil subsidies. Every one in America benefits from cheap oil especially when you compare it to other country's prices. Oil is in the ground and is either considered owned or not owned by someone depending how you see it. Oil companies are going to make a profit either way subsidies or no subsidies that is just a fact. Asking all Americans to voluntarily pay for cheaper oil would never fly so those that understand how our economy works know that cheap fuel is essential to a healthy economy and use the strongarm of the federal government to see that it is available. It is no different than government collecting taxes for infrastructure to enrich builders of roads and bridges. That is why republicans AND democrats defeated Obama's attempts.

 

[cupman]

Oil is a global commodity. If you are suggesting Obama's policies change the price of a barrel of oil you are wrong and believing into the hype. Oil subsidies blow my mind.. why the heck do we give them? I sincerely doubt if we ended them our gas prices would go up.. I just don't believe it. Why don't we give Apple subsidies on Ipods or Ipads? Obama is sitting on the Americas oil reserves. We may not thank him for it now but look to the future when our consumption exceeds the natural creation of oil. Even if we did drill for oil now how much would that change gas prices?

I used to drive a Toyota Tundra and I remember when the price of gas at $4.25/gallon under GWB. It sucked, but it eventually came down. I believe it will come down under Obama too but it will take time. Unfortunately blame gets placed on the president over high gas regardless of if it's a global market or not.

 

[heritagehabitatfarms]

when GWB announced a large new lease in the gulf would go on action the price of oil dropped 17$ a barrel in 30min... if Obama came out tomorrow and said that he was going to open a large chunk of the gulf and federal lands out west to leasing... and that he was going to speed the permitting process up the price of oil would drop sharply all most immediately... the other thing he could do is get behind Natural Gas... if he announced that they where going to have a major push do change Gas burners over to Natural Gas the price would fall as well... but ether of those option's take way to much common sense for anyone in Washington to think off lol...

 

[chickened]

Believing something into not happening is not reliable. Americans want cheap gas that is why it is used as an election ploy.

http://www.apple.com/r/store/government/


The strategic oil reserve is for the military really.

 

[JD4570]

Ahem, first off oil companies get tax breaks, not subsidies. Secondly this nation is sitting on over 2.5 trillion barrels of oil, that's more than the rest of the world. 503 billion barrels are in the Williston formation alone, which stretches from the central eastern Dakotas to the eastern 1/3 of Montana. So why are we fighting over offshore drilling and trying to prevent pipelines from being built in that area? With that much oil not only would we supply our needs for thousands of years, we could sell some and maybe, I don't know, pay off the national debt. Just a thought.

 

[kevs-chickadees]

Why don't we just elect Newt? Wasn't he going to make gas $2 something?

I think JD4570 just hit the nail on the head. As far as Sheriff Joe he is mostly crazy, he's in the news almost every day for something, most of which the rest of you don't get to hear. I liked the picture and hope it's real, how long until it gets back to him?

 

[redhen]

[COLOR=008000]Ahem, first off oil companies get tax breaks, not subsidies. Secondly this nation is sitting on over 2.5 trillion barrels of oil, that's more than the rest of the world. 503 billion barrels are in the Williston formation alone, which stretches from the central eastern Dakotas to the eastern 1/3 of Montana. So why are we fighting over offshore drilling and trying to prevent pipelines from being built in that area? With that much oil not only would we supply our needs for thousands of years, we could sell some and maybe, I don't know, pay off the national debt. Just a thought.[/COLOR]:/

How come gas and oil prices are so high if we have all this oil?? :/

 

[JD4570]

If you can't get to it or transport it you can't use it. As for foreign supply, the price is being driven up by China who is way overpaying for oil thus forcing everyone else to compete at the same price.

 

[chickened]

There are several factors to consider about oil. It is traded in U.S.dollars and we have the corner in the market on printing it. Oil is traded on futures http://www.ehow.com/facts_7186238_define-futures-trading.html and the link will explain that better than me.

Oil companies have always made a profit and it really is not that profitable.http://factcheck.org/2008/04/gasoline-tax-profits/

Inflation is the biggest cause IMO and that is directly related to the value of the American dollar which is the currency of trade which is very low in comparison to the Renminbe which China is currently the competition for the oil against us and the U.S. government is not helping by printing money to prop up the economy to derail a depression.

It is a little more complex than what have said but that is the gest of it.

 

[heritagehabitatfarms]

because the government (state and Federal ) wont approve it... and or it takes forever to approve it... i work in the Natural Gas Field here in AR and it takes 6 months (if you pay a higher fee) to a year and a half just to get the permit to drill one well... IMHO that is insane... they started planing and applying for permits 5 years before the 1st well was drilled... that is one of the biggest problems in this business... Oww and the fee to get the permit to drill the well is over $80'000 per well... they have drilled around 4000 wells here in the last 6 years...

its sad that a credit card company can give u an answer in 30 seconds and it takes 1 and 1/2 years for the state of AR to stamp there seal on a piece of paper...

How come gas and oil prices are so high if we have all this oil??