Drilling for known reserves here in the US.

 

Who do you suppose will do the drilling ?

For those that ask what the govt is going to do what are their options?

 

Limit the speculators role in the oil market. Windfall tax big oil. This is what Barack said he is going to do, lets see if he backs it up now that the health care crusade is over.

 

But Clyde, supply is way up and demand is way down it has been this way for a while now. If they did something about speculators things would probably balance out okay.

Limit the speculators role in the oil market. Windfall tax big oil. This is what Barack said he is going to do, lets see if he backs it up now that the health care crusade is over.

 

 

What purpose does a windfall tax serve other than pure vindictiveness?

Limit the speculators role in the oil market. Windfall tax big oil. This is what Barack said he is going to do, lets see if he backs it up now that the health care crusade is over.

 

But Clyde, supply is way up and demand is way down it has been this way for a while now. If they did something about speculators things would probably balance out okay.

 

The economy drives demand. We're not going back to $2 gas .

 

If we windfall tax the "big oil" what do you think their response is going to be?

The economy drives demand. We're not going back to $2 gas .

 

If we windfall tax the "big oil" what do you think their response is going to be?

 

 

Exactly, they will pass it on to us. Then we will end up where we started.

How would exploration "slow the spikes on gasoline costs?"

 

If the world oil market ever thought the US was serious about going after their VAST reserves; the market would seriously correct downward in a heartbeat in hopes of thwarting those efforts.

Who do you suppose will do the drilling ?

 

I cannot even believe you have to ask such a question. Maybe you are just trying to jerk my chain.

I cannot even believe you have to ask such a question. Maybe you are just trying to jerk my chain.

 

No chain jerking. I'm just curious as to why you think the US is going to be the main beneficiary of drilling in Alaska. If we were set up like Venezuela I'd be right there with you.

If the world oil market ever thought the US was serious about going after their VAST reserves; the market would seriously correct downward in a heartbeat in hopes of thwarting those efforts.

 

Tell me about these vast reserves. Differentiate between clean crude and crude that requires lots of energy and expense to get it ready for gasoline.

For those that ask what the govt is going to do what are their options?

 

That was the question I was hoping to get some answers to.

Gas going up again will kill the recreational industry.

 

 

Motorhome builders are already struggling, take a hit again this summer there might not be 3-4 left, then it starts hitting the boating, atv/motorcycle industry............

 

How is the Houseboat industry doing down in Somerset?

 

I dunno about that, alot of the cruisers I've looked at get about 40+ miles to the gallon, which during the summer months is definitely viewed as an upside for me sense I'm already wanting to buy a new one.

Exactly, they will pass it on to us. Then we will end up where we started.

 

And they aren't now with their billion dollar profits?

And they aren't now with their billion dollar profits?

 

You still didn't answer my initial question. What purpose does a windfall tax serve other than pure vindictiveness? If that is the case then aren't there a few more industries that probably deserve it too? How dare someone make a profit! We'll show 'em!

 

Only reason this is such an issue is because we are so bloody spoiled when it comes to fuel costs. I don't like rising fuel costs either, but I adapt to the changing marketplace and move on. Only thing I might even consider being on board with would be limiting the influence of speculators, but even the thought of restrictions there leaves me feeling a tad uneasy.

No chain jerking. I'm just curious as to why you think the US is going to be the main beneficiary of drilling in Alaska. If we were set up like Venezuela I'd be right there with you.

 

When Congress finally allowed for the Alaskan Pipeline to be built they included in the bill that all the Alaskan oil had to be used in the US. Although since there is a trade of oil allowed to help cut transportation costs. Some oil bought by Japan, from the Persian Gulf, goes to the Gulf Coast refineries and some of the Alaskan oil goes to Japan. The same could be done for any of the vast reserves that we have.

You still didn't answer my initial question. What purpose does a windfall tax serve other than pure vindictiveness? If that is the case then aren't there a few more industries that probably deserve it too? How dare someone make a profit! We'll show 'em!

 

Only reason this is such an issue is because we are so bloody spoiled when it comes to fuel costs. I don't like rising fuel costs either, but I adapt to the changing marketplace and move on. Only thing I might even consider being on board with would be limiting the influence of speculators, but even the thought of restrictions there leaves me feeling a tad uneasy.

 

You didn't answer mine either. Vindictiveness or just making sure the airlines can continue to function, and the trucking industry can continue to deliver our goods and our local school systems can afford to take kids to school and back? Is it really going to hurt Exxon when there billion dollar quarterly profits are cut down to multi million dollar profits? Define spoiled for me will you? Is it your believe that 2.50-3.00 is a fair price for gas? When you go grocery shopping here soon and the prices are going up to counter high fuel/transportation cost, are you going to look at your receipt and think that well big oil has to make a profit? Not trying to put any words in your mouth... trying to understand your insight on the topic. For the record Obama said he was only going to tax them at above 75 dollar oil. At 75 dollar oil that still translates to billion dollar profits. The money he is taxing them, he is giving back to the poor to go and buy gas, so they will get a lot of it back anyway.