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Gulf Oil Lost Revenue

piasabird

Lifer
Feb 6, 2002
17,168
60
91
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
 

Ryan

Lifer
Oct 31, 2000
27,518
1
81
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
You do realize this is two years old, eh? What was happening two years ago....Oh, I remember....just THE LARGEST FUCKING OIL SPILL IN US HISTORY. While the revenue would be nice...doing as much as possible to ensure that we don't have another disaster certainly takes precedence. The ban is prevented more drilling from happening, while oil exploration on land continues to explode in growth.

Concerning energy - we are at a 20 year low when it comes to oil imports. I would classify that as winning: http://www.bloomberg.com/news/2012-08-23/u-s-oil-imports-to-seen-hitting-20-year-low-42-of-use.html
 
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monovillage

Diamond Member
Jul 3, 2008
8,444
0
0
You do realize this is two years old, eh? What was happening two years ago....Oh, I remember....just THE LARGEST FUCKING OIL SPILL IN US HISTORY. While the revenue would be nice...doing as much as possible to ensure that we don't have another disaster certainly takes precedence. The ban is prevented more drilling from happening, oil exploration on land continues to explode in growth.

Concerning energy - we are at a 20 year low when it comes to oil imports. I would classify that as winning: http://www.bloomberg.com/news/2012-08-23/u-s-oil-imports-to-seen-hitting-20-year-low-42-of-use.html
A science hating liberal Democrat fucks up yet again.

http://pubs.acs.org/doi/abs/10.1021/es301363k
 

rudder

Lifer
Nov 9, 2000
19,434
84
91
You do realize this is two years old, eh? What was happening two years ago....Oh, I remember....just THE LARGEST FUCKING OIL SPILL IN US HISTORY. While the revenue would be nice...doing as much as possible to ensure that we don't have another disaster certainly takes precedence. The ban is prevented more drilling from happening, while oil exploration on land continues to explode in growth.

Concerning energy - we are at a 20 year low when it comes to oil imports. I would classify that as winning: http://www.bloomberg.com/news/2012-08-23/u-s-oil-imports-to-seen-hitting-20-year-low-42-of-use.html
Gasoline demand has been trending downward. We are on par now with 2001.

Also, the ban has not prevented more drilling from happening in the gulf. It has prevented U.S. companies from drilling... but plenty of foreign entities (China, Mexico, Cuba) are seeing to it that oil reserves are pumped out of the gulf.
 

Ryan

Lifer
Oct 31, 2000
27,518
1
81
Gasoline demand has been trending downward. We are on par now with 2001.

Also, the ban has not prevented more drilling from happening in the gulf. It has prevented U.S. companies from drilling... but plenty of foreign entities (China, Mexico, Cuba) are seeing to it that oil reserves are pumped out of the gulf.
Where are you getting your numbers from? I see that we are at a 4 year low in demand: http://www.reuters.com/article/2012/08/17/us-usa-api-monthly-idUSBRE87G0UQ20120817

One of the biggest reasons - increases in efficiency standards are driving demand down (a strong Obama initiative).
 

CLite

Golden Member
Dec 6, 2005
1,726
7
76
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
The administration has slowed down in permitting in many different areas and I think it needs to be reversed ASAP. I support the implementation of the new high pressure rules for deep wells they have introduced into API 579 which more or less reflect work done within the ASME BPVC, however the administration has taken an additional step in stifling permitting.

That said, the 1 trillion dollar figure is retarded and quite a hyperbole compared to feasible expansion of drilling, the time to develop it, and realistic revenue for the federal government.
 

K1052

Lifer
Aug 21, 2003
37,748
12,427
136
This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
Domestic oil production is at it's highest level since 2003 and Phase 4 of Keystone is being built to take Canadian tar sand oil to the PA refineries where it will be made into product and shipped abroad (mostly Central and South America) tax free since PA sits in a FTZ. It's basically a lot of wrangling to improve profitably of Canadian exports, not a play to help US markets (which already benefit from an oversupply of tar sand oil).
 

rudder

Lifer
Nov 9, 2000
19,434
84
91
Where are you getting your numbers from? I see that we are at a 4 year low in demand: http://www.reuters.com/article/2012/08/17/us-usa-api-monthly-idUSBRE87G0UQ20120817

One of the biggest reasons - increases in efficiency standards are driving demand down (a strong Obama initiative).
My numbers come from www.eia.gov

Also, you must not forget to credit obama for high unemployment and economic sluggishness which has also reduced demand. Me, I am personally thanking obama for my 2001 honda civic that got 40mpg.
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
46
91
www.alienbabeltech.com
Domestic oil production is at it's highest level since 2003 and Phase 4 of Keystone is being built to take Canadian tar sand oil to the PA refineries where it will be made into product and shipped abroad (mostly Central and South America) tax free since PA sits in a FTZ.

It's basically a lot of wrangling to improve profitably of Canadian exports, not a play to help US markets (which already benefit from an oversupply of tar sand oil).
Well Canadians are now starting to get just as fucked as Americans by the Oil Thug Industry sending all the fuel out of the country for profits while fucking over the consumers in country.

Both Americans and Canucks deserve to be reamed as hard as possible for allowing themselves to be fucked over like this.

What's funny to me is they are crying over a 20 cents jump over the course of 3 months. We see that here on a daily basis for many days straight.

My god based on the Canucks reaction they would all have a collective stroke if they lived here.


9-12-2012

http://ca.finance.yahoo.com/news/gas-prices-soar-several-canadian-cities-080010182.html

Gas prices soar in several Canadian cities



Higher gas prices have been jolting motorists in major Canadian centres and the shock has been particularly acute in Montreal, where prices have instantly soared by as much as 13 cents a litre.


That puts the price of regular in the Montreal area at just under $1.53 a litre, an increase of almost 20 cents since the start of summer.

Gasoline prices across southern and eastern Ontario also rose by about 3.4 cents at midnight, according to the website tomorrowsgaspricestoday.com. That puts the price of regular in the greater Toronto area at just under $1.37 a litre, and $1.34 in the Ottawa area.

Gas price watcher Dan McTeague says he can't see a reason for the increase, other than a money grab, and his website calls the hike "absurd and unjustified."
 

Wreckem

Diamond Member
Sep 23, 2006
9,333
793
126
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
US has pretty high oil and gas production right now. Oil firms cannot keep pace with new build outs on mainland CONUS. With all the rattling on about ANWAR and Gulf drilling, the oil & gas industry is busier than ever.
 
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superccs

Senior member
Dec 29, 2004
999
0
0
1 trillion in Oil Co revenue is like 45 kerbillion in tax subsidies to the oil co, so any oil that is found domestically costs the tax payer money

I can make up #'s too, isn't this fun :p
 

shortylickens

No Lifer
Jul 15, 2003
80,215
13,040
126
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
Umm, I dont like Democrats much but this really isnt their fucking fault at all.
 

MrColin

Platinum Member
May 21, 2003
2,403
3
81
http://www.exxonmobilperspectives.com/2010/12/06/a-trillion-dollar-missed-opportunity-enough-to-pay-u-s-deficit/?utm_source=paid.outbrain.com&utm_medium=cpc

According to Exxon, the lost revenue that could have been collected for the sell of oil from possible gulf of mexico drilling represents a missed revenue for the USA to the tune of about 1 trillion dollars.

This is the Democrats failing the USA with their embargo on developing oil production in the USA and also the Pipeline that would have went to Canada. The USA can not afford to let this revenue and the supporting business that would support it slip through our fingers!
That oil will still be there in the future and it will be worth more when it is tapped, maybe there will even be a better way to get it out.
 
Jan 25, 2011
16,177
7,766
146
Oh right..homeschooled

Palin really could not see Russia out her window either
Well, and can't believe I'm defending Palin but, she never said she could either. Tina Fey fooled a lot of people with that one

Edit: And now I'm just parroting shorty who was replying at the same time.
 

conehead433

Diamond Member
Dec 4, 2002
5,316
378
126
Obviously the oil companies have proven that they can't handle a spill from the deep water wells, so such wells should be permanently banned. As to Arctic drilling we'll will find out pretty soon that they have no way to clean up an oil spill that soaks into ice and snow. It would have been far better to allow drilling in parts of ANWAR. Our politicians make some dumb choices to help the oil companies including the billions in tax breaks. As long as you are an oil consumer expect to get reamed.
 

DominionSeraph

Diamond Member
Jul 22, 2009
8,391
31
91
Once again you conservatards have TOTALLY failed.
You only get $1.3 trillion in tax revenues if Americans pay that $1.3 trillion in taxes.

This is magic math. Exxon's math has them magically selling every drop in the Gulf to the American consumer. (And notice how they fail to list how much this math has the the American consumer paying in total, and how much is Exxon's rake. Taxes are only a fraction of the cost of oil.)

This is why you conservatards are a joke. You think you are sooooo qualified to speak on economic policy yet being hit by a number in tax revenue that's near 10% of the entire US GDP doesn't even cause you to BEGIN to check your conclusions.
 

kami333

Diamond Member
Dec 12, 2001
5,110
2
76
What's funny to me is they are crying over a 20 cents jump over the course of 3 months. We see that here on a daily basis for many days straight.

My god based on the Canucks reaction they would all have a collective stroke if they lived here.
Keep in mind they use liters.

1 gallon = 3.8 liters X 20cents = 76 cents change per gallon.

Chicago gas prices are nuts though, the rest of the country has been a little more consistent.
 

nehalem256

Lifer
Apr 13, 2012
15,669
6
0
Obviously the oil companies have proven that they can't handle a spill from the deep water wells, so such wells should be permanently banned. As to Arctic drilling we'll will find out pretty soon that they have no way to clean up an oil spill that soaks into ice and snow. It would have been far better to allow drilling in parts of ANWAR. Our politicians make some dumb choices to help the oil companies including the billions in tax breaks. As long as you are an oil consumer expect to get reamed.
http://research.scottrade.com/qnr/Public/Stocks/Financials?symbol=XOM

Income before taxes: $73,257m
Income taxes: 31,051
tax rate: 42.39%

Yeah Exxon Mobile is really raking in those tax breaks :rolleyes:
 

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