Cheap Gas on the Way!!!! The breakthrough could increase U.S. oil reserves by as much as 50 percent.

[nissan720]

I love the fact that prices are dropping.

$2.30 - 2.40 for low grade here

 

[Queasy]

Originally posted by: mugs

Originally posted by: sinucus

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

WRONG! Those profits were posted AFTER the expenses were paid to fund those explorations. The 36 BILLION dollar profit was just that, PROFIT!

It's called return on investment... oil companies invest billions in exploration and drilling, how can you fault them for wanting a decent return on that investment?

Don't you know that companies are not allowed to make profit? Its eeeeeeeviiiiiiil. I mean forget that these profits allow them to grow their business, hire more workers, pay out more in dividends to stock holders, provide cheaper goods/services, etc etc etc.

I mean...that's just wrong.

 

[Tom]

Originally posted by: mugs

Originally posted by: Tom
3 billion years of decaying life captures a lot of carbon, which is why there's no real shortage of fossil fuels, and never will be.

You don't really believe that, do you? The first part of your post should make it obvious why the second part makes no sense - it takes such a long time for oil to form that the rate of production can't possibly keep up with our rate of consumption.

Of course it will. Unless you know of some way to consume something that doesn't exist.

 

[xanis]

Originally posted by: Queasy

Originally posted by: mugs

Originally posted by: sinucus

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

WRONG! Those profits were posted AFTER the expenses were paid to fund those explorations. The 36 BILLION dollar profit was just that, PROFIT!

It's called return on investment... oil companies invest billions in exploration and drilling, how can you fault them for wanting a decent return on that investment?

Don't you know that companies are not allowed to make profit? Its eeeeeeeviiiiiiil. I mean forget that these profits allow them to grow their business, hire more workers, pay out more in dividends to stock holders, provide cheaper goods/services, etc etc etc.

I mean...that's just wrong.

There's a fine line between making a profit and being greedy. Ok, the oil companies are making profits. Where are my cheaper goods/services? As far as I'm concerned gas is STILL expensive.

 

[Feldenak]

Originally posted by: Xanis

Originally posted by: Queasy

Originally posted by: mugs

Originally posted by: sinucus

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

WRONG! Those profits were posted AFTER the expenses were paid to fund those explorations. The 36 BILLION dollar profit was just that, PROFIT!

It's called return on investment... oil companies invest billions in exploration and drilling, how can you fault them for wanting a decent return on that investment?

Don't you know that companies are not allowed to make profit? Its eeeeeeeviiiiiiil. I mean forget that these profits allow them to grow their business, hire more workers, pay out more in dividends to stock holders, provide cheaper goods/services, etc etc etc.

I mean...that's just wrong.

There's a fine line between making a profit and being greedy. Ok, the oil companies are making profits. Where are my cheaper goods/services? As far as I'm concerned gas is STILL expensive.

The important part is the profit margin stayed about the same. They're not gouging based on a margin that has remained relatively static.

 

[Injury]

I feel it's important (in a gloating sort of way) to announce in gas threads that I don't care about gas prices because I use only a tank a month.


So yeah. If I save $5/month, I probably wouldn't notice.

:-D

 

[mugs]

Originally posted by: Tom

Originally posted by: mugs

Originally posted by: Tom
3 billion years of decaying life captures a lot of carbon, which is why there's no real shortage of fossil fuels, and never will be.

You don't really believe that, do you? The first part of your post should make it obvious why the second part makes no sense - it takes such a long time for oil to form that the rate of production can't possibly keep up with our rate of consumption.

Of course it will. Unless you know of some way to consume something that doesn't exist.

By rate of production, I mean the rate of production within the earth. Which is far slower than our rate of consumption. So clearly at some point we will run out (or we WOULD run out, but before we get to that point the cost of extraction will be so high that it's not wortwhile). The only question is how soon it will happen.

 

[Queasy]

Originally posted by: Xanis

Originally posted by: Queasy

Originally posted by: mugs

Originally posted by: sinucus

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

WRONG! Those profits were posted AFTER the expenses were paid to fund those explorations. The 36 BILLION dollar profit was just that, PROFIT!

It's called return on investment... oil companies invest billions in exploration and drilling, how can you fault them for wanting a decent return on that investment?

Don't you know that companies are not allowed to make profit? Its eeeeeeeviiiiiiil. I mean forget that these profits allow them to grow their business, hire more workers, pay out more in dividends to stock holders, provide cheaper goods/services, etc etc etc.

I mean...that's just wrong.

There's a fine line between making a profit and being greedy. Ok, the oil companies are making profits. Where are my cheaper goods/services? As far as I'm concerned gas is STILL expensive.

Ask the oil futures traders. They are the ones that set the price of a barrel of oil and where the oil companies are getting their current profits from. With tighter supplies, trouble in the middle east, hurricanes in the gulf last year, and increased demand for oil the price of a barrel went up. Oil companies were the beneficiary since it still costs them roughly the same amount to pull oil out of the ground. They were just able to sell it for a much higher amount.

When the above happens, this gives oil companies the money and incentive to drill for more oil and drill for oil in places that were previously probably too expensive to drill...such as what the OP detailed. This results in increased supply which reduces prices. It doesn't happen overnight though for the oil industry.

/economics lesson.

 

[Tom]

Originally posted by: Feldenak

Originally posted by: Xanis

Originally posted by: Queasy

Originally posted by: mugs

Originally posted by: sinucus

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

WRONG! Those profits were posted AFTER the expenses were paid to fund those explorations. The 36 BILLION dollar profit was just that, PROFIT!

It's called return on investment... oil companies invest billions in exploration and drilling, how can you fault them for wanting a decent return on that investment?

Don't you know that companies are not allowed to make profit? Its eeeeeeeviiiiiiil. I mean forget that these profits allow them to grow their business, hire more workers, pay out more in dividends to stock holders, provide cheaper goods/services, etc etc etc.

I mean...that's just wrong.

There's a fine line between making a profit and being greedy. Ok, the oil companies are making profits. Where are my cheaper goods/services? As far as I'm concerned gas is STILL expensive.

The important part is the profit margin stayed about the same. They're not gouging based on a margin that has remained relatively static.

Except it hasn't remained static. And the idea that profit as a percentage of gross income, doesn't take into account the ability of a vertical monopoly to manipulate costs that disguises true rates of return.

 

[Specop 007]

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: 0
Topic Title: Cheap Gas on the Way!

You honestly believe the Oil Barons & Politicians would LOWER prices???

Seems to me gas has dropped more than 50 cents on average in the last month. And it's dropped by almost 50% in the past.

Dave, why do you always argue against history? Do you ever think before you spew your ignorant, knee-jerk nonsense?

Gas has not dropped where I am, still paying $3 a gallon.

They've apparently only dropped the prices in areas that lower paid folks were hurting the most.

Um, no. Gas prices have tumbled all over the nation, Dave.

Fist google news link:

http://www.arkansasleader.com/2006/09/top-story-lower-gas-prices-please.html

In nearby states, Louisiana is averaging $2.75 per gallon, Missouri?s average is $2.60, Oklahoma is at $2.63 and Texas is at $2.66.

and that's cheap now?

Brainwashing process has been 110% completed on you. Job well done :thumbsup:

Hes got a point there.

 

[foghorn67]

Originally posted by: TheAdvocate
Gas prices will tumble for the runup to the Nov elections and then soar right back up to where it was by Christmas, and stay there for a long time.

Same as it ever was. Don't drink the political kool-aid.

If we are drinking kool-aid, you and Dave are suckling from Al Gore's mams.

 

[JackBurton]

Originally posted by: TheSlamma
Lets use this as an excuse to become gluttons with our oil consumption!!

Hmmm, I was looking at a nice new H2.

 

[ViviTheMage]

yay

 

[Adam8281]

Originally posted by: foghorn67

Originally posted by: TheAdvocate
Gas prices will tumble for the runup to the Nov elections and then soar right back up to where it was by Christmas, and stay there for a long time.

Same as it ever was. Don't drink the political kool-aid.

If we are drinking kool-aid, you and Dave are suckling from Al Gore's mams.

Hahahahahahahahahah!!.....AAAAAAAAAA-hahahahahahahahaha

 

[shoRunner]

Originally posted by: Specop 007

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: 0
Topic Title: Cheap Gas on the Way!

You honestly believe the Oil Barons & Politicians would LOWER prices???

Seems to me gas has dropped more than 50 cents on average in the last month. And it's dropped by almost 50% in the past.

Dave, why do you always argue against history? Do you ever think before you spew your ignorant, knee-jerk nonsense?

Gas has not dropped where I am, still paying $3 a gallon.

They've apparently only dropped the prices in areas that lower paid folks were hurting the most.

Um, no. Gas prices have tumbled all over the nation, Dave.

Fist google news link:

http://www.arkansasleader.com/2006/09/top-story-lower-gas-prices-please.html

In nearby states, Louisiana is averaging $2.75 per gallon, Missouri?s average is $2.60, Oklahoma is at $2.63 and Texas is at $2.66.

and that's cheap now?

Brainwashing process has been 110% completed on you. Job well done :thumbsup:

Hes got a point there.

its cheap compared to recent prices of over $3.

 

[ElFenix]

Originally posted by: K1052

Originally posted by: vi_edit
28,000 feet....I have trouble fathoming how they can get things that far down...7000 feet of which is water.

All the easy to reach oil has been tapped, they are going to have to go deeper and deeper to get at anything new.

we're not really sure about that. there could be (comparativly) easy to reach oil in the eastern gulf and off the eastern seaboard, but congress won't let drilling happen because time-sharers from the north east don't want their view spoiled.

 

[astrosfan90]

You realize that them finding it doesn't translate into gasoline tomorrow, right? It's not as easy as turning a faucet. Not to mention that it has to be refined.

 

[brandonbull]

Originally posted by: Queasy
And oh yeah....you folks that constantly complain about oil profits. This kind of drilling and exploration is only made possible because of those profits.

I must thank the big oil and energy companies for allowing me to help provide them with record profits so they can continue to OVERSUPPLY me with record priced energy.

 

[ElFenix]

Originally posted by: CVSiN

Houston isnt exactly a "lower paid" city and gas has fallen here over 50 cents..
gas is now 2.45 =)

and I work for Chevron in IT.. things are good here today =)

$2.45? where you getting $2.45?


<--- paid $2.73 for mid-grade chevron on sunday

 

[brandonbull]

Originally posted by: ElFenix

Originally posted by: K1052

Originally posted by: vi_edit
28,000 feet....I have trouble fathoming how they can get things that far down...7000 feet of which is water.

All the easy to reach oil has been tapped, they are going to have to go deeper and deeper to get at anything new.

we're not really sure about that. there could be (comparativly) easy to reach oil in the eastern gulf and off the eastern seaboard, but congress won't let drilling happen because time-sharers from the north east don't want their view spoiled.

Maybe because Florida generates a large revenue from having nice white sandy beaches or from fishing. Not everyone wants to visit Walt Disney Oil Refinery World.

 

[Specop 007]

Originally posted by: shoRunner

Originally posted by: Specop 007

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: Amused

Originally posted by: dmcowen674

Originally posted by: 0
Topic Title: Cheap Gas on the Way!

You honestly believe the Oil Barons & Politicians would LOWER prices???

Seems to me gas has dropped more than 50 cents on average in the last month. And it's dropped by almost 50% in the past.

Dave, why do you always argue against history? Do you ever think before you spew your ignorant, knee-jerk nonsense?

Gas has not dropped where I am, still paying $3 a gallon.

They've apparently only dropped the prices in areas that lower paid folks were hurting the most.

Um, no. Gas prices have tumbled all over the nation, Dave.

Fist google news link:

http://www.arkansasleader.com/2006/09/top-story-lower-gas-prices-please.html

In nearby states, Louisiana is averaging $2.75 per gallon, Missouri?s average is $2.60, Oklahoma is at $2.63 and Texas is at $2.66.

and that's cheap now?

Brainwashing process has been 110% completed on you. Job well done :thumbsup:

Hes got a point there.

its cheap compared to recent prices of over $3.

Agreed, but compare it to prices 5 years ago.
Cheap is a state of mind, and we've been conditioned to think $2.50 is cheap only because we've been paying over 3 for a while.

 

[ElFenix]

Originally posted by: brandonbull

Maybe because Florida generates a large revenue from having nice white sandy beaches or from fishing. Not everyone wants to visit Walt Disney Oil Refinery World.

then you agree that the state legislature should decide the matter for florida, rather than ted kennedy (who won't allow wind power off massachusetts because jfk sailed there)

iirc, both florida senators voted yes to a bill that opens up 8.34 million acres for exploration in the eastern gulf, but 125 miles from the florida coast.

 

[crownjules]

People complaining about oil companies making record PROFITS need to understand that they don't keep all 12 billion. Profits do not equal Gross Income. Profits are the raw take-ins from whatever product the company sells. And in the case of oil, as someone stated earlier, this price is not even set by the oil companies but by the oil futures traders.

From the profits, you need to subtract every expense: payroll, research and development, facility maintenance costs, and so on. I would imagine that for oil companies, which are some of the largest companies in the world, that their expenses measure well into the billions as well.

 

[DainBramaged]

Originally posted by: Amused

Originally posted by: dmcowen674


No, I said gas is $2.25 where I live. Where I work it is still $3, try reading, may help some.

Gas has not dropped where I am, still paying $3 a gallon.

I did read, Dave. Nice try again at covering yourself. Too bad you're too fscking stupid to do it convincingly.

It just hit me, aruging with Dave is like the Special Olympics. Even if you win, you are still retarded. :laugh:

 

[Chunkee]

anyone notice the hookers hanging out at the gas stations now? kind of strange...guess they need gas money also...


wonder what a fillup would get you?

jC