obama and oil

[pat addis]

obama gave a speech and said we are now producing more oil now domesticaly (sp) than at any time in the last 7 yrs. so i turned to the people here to find out the truth. i find this hard to belive becouse of shutting down the gulf. but then i don't belive any thing that comes out of his mouth any way. thanks

[Franco]

Obama would have to define, "producing".

Refinery capacity hasn't dropped as we import more oil and "produce" it into gasoline and diesel.

[huntinman]

The only increase is the hot air coming out of his mouth.

[dnf777]

Obama would have to define, "producing".

Refinery capacity hasn't dropped as we import more oil and "produce" it into gasoline and diesel.

My understanding was that much of what he shut down, was expoloration, and not necessarily wells in production already. Being that prices are based on speculation, I agree with you that opening more exploration will keep prices down (hopefully), but his statement would be easy enough to verify with stats.

Has it occuered to anyone that maybe we are holding the deep well exploration and oil fields as a sort of strategic reserve in themselves? right now oil prices are at least quasi-stable, the economies are slowly showing signs of recovery, and perhaps we want to keep those reserves as our ace in the hole, for when we really need them.

Just as thought.

[Uncle Bill]

My understanding was that much of what he shut down, was expoloration, and not necessarily wells in production already. Being that prices are based on speculation, I agree with you that opening more exploration will keep prices down (hopefully), but his statement would be easy enough to verify with stats.

Has it occuered to anyone that maybe we are holding the deep well exploration and oil fields as a sort of strategic reserve in themselves? right now oil prices are at least quasi-stable, the economies are slowly showing signs of recovery, and perhaps we want to keep those reserves as our ace in the hole, for when we really need them.

Just as thought.

What Obama is referring to has been occurring because of the policies that were developed 7 years ago, which he voted against, of course. Now he wants to take credit for what he has blocked his entire carreer. He is first of all a SOCIALIST. And some of you believe he's suddenly a capitalist?

As to what has OCCURRED to me is that your messiah is causing this nations oil reserves to be denied to the people, so his Muslim cronies can continue to gouge this country, and his environmental whackos continue to vote for him and his outlandish policies.

Has it OCCURRED to you, that it takes up to 10 years for some of these oil reserves to be developed and producing? And how long does it take to build the refineries to take care of what is produced?

Please stop slobbering over and excusing your inept leader. Anything he proposes or claims as an accomplishment is just another form of campaigning. We get it. Toadies like you don't.

UB

[Buzz]

As usual, nothing but hot air. Maybe we can harness that potential.

[BrianW]

My understanding was that much of what he shut down, was expoloration, and not necessarily wells in production already. Being that prices are based on speculation, I agree with you that opening more exploration will keep prices down (hopefully), but his statement would be easy enough to verify with stats.

Has it occuered to anyone that maybe we are holding the deep well exploration and oil fields as a sort of strategic reserve in themselves? right now oil prices are at least quasi-stable, the economies are slowly showing signs of recovery, and perhaps we want to keep those reserves as our ace in the hole, for when we really need them.

Just as thought.

Dave, are you sure you want to use the term "quasi" ?
1: having some resemblance usually by possession of certain attributes <a quasi corporation>
2: having a legal status only by operation or construction of law and without reference to intent


I sure hope things are "quasi-stable in PA because out here, this "stability" (and projected increases) is kicking the crap our of any so-called recovery.

I think you forget, or ignore, that Obama basically declared war on the energy consumer in the San Francisco interview before the election. This all fits in perfectly, if maybe not intended, to his stated goals. Energy prices "are necessarily skyrocketing", to use HIS words and I believe he has no intention of letting this crisis go to waste. .

[Gerry Clinchy]

This is the quote from MSN

Still, he said the country was in a better shape to handle a disruption in oil supplies now than in the past and that "our economy as a whole is more efficient. We're producing more oil and we're importing less."

I might believe that our refineries are producing more oil (without stipulating that it is US oil that is being refined) ... but I have a hard time believing that we are importing less. All citations I've seen are that we are importing a lot more than we when Carter created the Dept of Energy.

A mis-speak, perhaps?

[BrianW]

the country was in a better shape to handle a disruption in oil supplies now than in the past and that "our economy as a whole is more efficient.

I strongly disagree with his assessment. Many of our companies have gotten more "efficient" through ploicies such as lean manufacturing, thus exposing themselves more to disruptions in supply. The company I work for depends on daily shipments of incoming supplies/outgoing products, in addition to the rising costs of petroleum based products themselves.

Many of the folks I work with say they won't be able to afford to go to work if this keeps up, on top of rising food & commodity prices.

This First Family is so out of touch, it's scary.

[Roger Perry]

I strongly disagree with his assessment. Many of our companies have gotten more "efficient" through ploicies such as lean manufacturing, thus exposing themselves more to disruptions in supply. The company I work for depends on daily shipments of incoming supplies/outgoing products, in addition to the rising costs of petroleum based products themselves.

Many of the folks I work with say they won't be able to afford to go to work if this keeps up, on top of rising food & commodity prices.

This First Family is so out of touch, it's scary.

Page last updated at 21:59 GMT, Monday, 16 June 2008 22:59 UK
E-mail this to a friend Printable version
Oil at record near $140 a barrel


There have been calls for increased global oil output

The price of crude oil has hit a new high of close to $140 a barrel in New York trade, despite Saudi Arabia agreeing to increase output in July. During Monday's session, US light crude rose to $139.89 a barrel, surpassing the previous high of $139.12 on 6 June. It later fell back from the record high, to close at $134.61.


So was the Bush family out of touch with reality in 2008 when oil was $140 a barrel??????????????http://news.bbc.co.uk/2/hi/business/7457157.stm