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Thread: Oil Refineries

  1. #21
    Senior Member road kill's Avatar
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    Quote Originally Posted by Roger Perry View Post
    If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?
    I don't know the answer to that RP, but I know that some USA people lost their jobs and that is not good!!

    Someone tell me how that is good?

    rk
    Stan b & Elvis

  2. #22
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by Roger Perry View Post
    If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?
    Yes, Roger, that is the point I was trying to make. Would it be better to offer a tax break to the refineries to keep the jobs here at home, rather than lose the jobs?

    If US oil refineries can't make enough profit to stay in business; the crude is processed elsewhere where it is cheaper to do ... for now. That costs US jobs while keeping the cost of gas down in the short term. A tax break to keep the jobs could be offset by the taxes paid by those employed people v. paying out $ for unemployment ... and re-training refinery workers to another type of employment since the refinery jobs would be gone.

    In the long-term, however, we are at the mercy of those countries who are currently offering cheaper refining. What if they decide to raise their price? We would not be prepared to pick up the slack at home for a while, since you can put refineries on-line overnight.

    Also, recall that when Katrina hit & knocked out the refineries in the Gulf of Mexico, the panic on that caused gas prices to rise. Fear of shortage turned out to be worse than the reality, but the fear of shortage, alone, was enough to have prices shoot up.
    G.Clinchy@gmail.com
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  3. #23
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    Quote Originally Posted by Gerry Clinchy View Post
    Yes, Roger, that is the point I was trying to make. Would it be better to offer a tax break to the refineries to keep the jobs here at home, rather than lose the jobs?

    If US oil refineries can't make enough profit to stay in business; the crude is processed elsewhere where it is cheaper to do ... for now. That costs US jobs while keeping the cost of gas down in the short term. A tax break to keep the jobs could be offset by the taxes paid by those employed people v. paying out $ for unemployment ... and re-training refinery workers to another type of employment since the refinery jobs would be gone.

    In the long-term, however, we are at the mercy of those countries who are currently offering cheaper refining. What if they decide to raise their price? We would not be prepared to pick up the slack at home for a while, since you can put refineries on-line overnight.

    Also, recall that when Katrina hit & knocked out the refineries in the Gulf of Mexico, the panic on that caused gas prices to rise. Fear of shortage turned out to be worse than the reality, but the fear of shortage, alone, was enough to have prices shoot up.
    Yes, I remember. A few friends from Georgia called me and said gasoline was $5.00 a gallon.

    The Oil companies made huge profits each quarter.

    High gas prices may have cinched American consumers’ wallets in 2007, but they loaded the coffers of the big five oil companies: BP, Chevron, Conoco Phillips, ExxonMobil, and Shell. ExxonMobil, after record high profits in 2005 and 2006, smashed the record for highest profits ever made by a public U.S. company—previously held by Exxon—by posting a net profit of $40.6 billion in 2007.
    To put these figures in perspective, Exxon’s $40.6 billion profit in 2007 is roughly equal to receiving “$30 for every person in China and $132 for every U.S. resident.” Another way of looking at it is that Exxon made $77,245 per minute in 2007—that’s more money generated per minute than 70 percent of Americans earned all year, according to the Census Bureau.

    It costs oil companies less than $10 per barrel to extract and ship a barrel of oil. The “finding” costs to explore and develop an oil field range from $5 per barrel in the Middle East to $67 per barrel off of the U.S. coast. These are production costs. So when the market price jumps due to speculators, political unrest, supply disruption, or other similar events, it is a windfall for the oil company.

    With the outragous profits the oil companies are making why would we have to give them another tax break?

  4. #24
    Senior Member road kill's Avatar
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    Quote Originally Posted by Roger Perry View Post
    Yes, I remember. A few friends from Georgia called me and said gasoline was $5.00 a gallon.

    The Oil companies made huge profits each quarter.

    High gas prices may have cinched American consumers’ wallets in 2007, but they loaded the coffers of the big five oil companies: BP, Chevron, Conoco Phillips, ExxonMobil, and Shell. ExxonMobil, after record high profits in 2005 and 2006, smashed the record for highest profits ever made by a public U.S. company—previously held by Exxon—by posting a net profit of $40.6 billion in 2007.
    To put these figures in perspective, Exxon’s $40.6 billion profit in 2007 is roughly equal to receiving “$30 for every person in China and $132 for every U.S. resident.” Another way of looking at it is that Exxon made $77,245 per minute in 2007—that’s more money generated per minute than 70 percent of Americans earned all year, according to the Census Bureau.

    It costs oil companies less than $10 per barrel to extract and ship a barrel of oil. The “finding” costs to explore and develop an oil field range from $5 per barrel in the Middle East to $67 per barrel off of the U.S. coast. These are production costs. So when the market price jumps due to speculators, political unrest, supply disruption, or other similar events, it is a windfall for the oil company.

    With the outragous profits the oil companies are making why would we have to give them another tax break?
    Don't worry, I am sure there is a bill being drafted right now for the Fed's to "reform" the oil industry!!


    rk
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    Quote Originally Posted by road kill View Post
    Don't worry, I am sure there is a bill being drafted right now for the Fed's to "reform" the oil industry!!


    rk

    Getting a bit defensive aren't you? I did not even mention any names. Just record profits.

  6. #26
    Senior Member road kill's Avatar
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    Quote Originally Posted by Roger Perry View Post
    Getting a bit defensive aren't you? I did not even mention any names. Just record profits.
    Not defensive...sarcastic yes!!

    Your party is the one always telling us about how much gas cost in France.
    Stan b & Elvis

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    Quote Originally Posted by road kill View Post
    Not defensive...sarcastic yes!!

    Your party is the one always telling us about how much gas cost in France.
    If I am not mistaken, I can remember conversations on RTF about gas prices and cutting down on going to hunt tests and field trials. Correct me if I am wrong. And I also believe most on this forum are republicans. Correct me if I am wrong there also.

    By the way, I am a registered independent. So I do not know of which party you speak.
    Last edited by Roger Perry; 12-26-2009 at 08:12 PM.

  8. #28
    Senior Member road kill's Avatar
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    Quote Originally Posted by Roger Perry View Post
    If I am not mistaken, I can remember conversations on RTF about gas prices and cutting down on going to hunt tests and field trials. Correct me if I am wrong. And I also believe most on this forum are republicans. Correct me if I am wrong there also.
    I do not know the party affiliations of most here.

    I never missed a hunt test because of the cost of gas in France!!

    When your party raise my taxes, I just raise the cost of my services to my clients!!



    rk
    Stan b & Elvis

  9. #29
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    Quote Originally Posted by road kill View Post
    I do not know the party affiliations of most here.

    I never missed a hunt test because of the cost of gas in France!!

    When your party raise my taxes, I just raise the cost of my services to my clients!!



    rk
    Then you must have put a lot of people out of business between 2006 & 2008.

    Again I am a registered independent not a republican nor a democratl

  10. #30
    Senior Member K G's Avatar
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    Quote Originally Posted by Roger Perry View Post
    If I am not mistaken I believe KG said on one thread that OPEC and speculators set the price of oil/gasoline. Wouldn't shutting down oil refineries in the U.S. also cause the price of gasoline to rise?
    No, Roger, it won't...it will cause the companies that own those refineries to incur less expense and therefore make more profit.

    Why won't the current administration work toward lessening our dependence on fossil fuels? The price of gas affects ALL of us EVERY DAY....is our current leadership so myopic that they can only work on one major campaign promise at a time?

    CURRENT administration, Roger...CURRENT....stay focused....

    kg
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