Oil chiefs say high prices not our fa...

Oil chiefs say high prices not our fault

There are 69 comments on the news.yahoo.com story from Apr 1, 2008, titled Oil chiefs say high prices not our fault . In it, news.yahoo.com reports that:

Don't blame us, oil industry chiefs told a skeptical Congress. Top executives of the country's five biggest oil companies said Tuesday they know record fuel prices are hurting people, but they argued it's not their fault and their huge profits are in line with other industries.

Join the discussion below, or Read more at news.yahoo.com.

First Prev
of 4
Next Last
Michael

Palm Harbor, FL

#63 May 9, 2008
Just so we're clear. This is the way the USGS results are reported:

A 1998 United States Geological Survey (USGS) study indicated at least 4.3 billion (95% probability) and possibly as much as 11.8 billion (5% probability) barrels (0.9 to 2.5 km³) of technically recoverable oil exists in the Arctic National Wildlife Refuge 1002 area, with a mean value of 7.7 billion barrels (1.7 km³). In addition, in the entire assessment area, which covers not only land under Federal jurisdiction, but also Native lands and adjacent State waters within three miles (5 km), technically recoverable oil is estimated to be at least 5.7 billion (95%) and as much as 16.0 billion (5%) barrels (0.7 to 1.9 km³), with a mean value of 10.4 billion barrels (1.2 km³).

Please note that this is just an estimate and that the lower numbers have the highest probability of being factual.

“Did U plug the damn hole yet?”

Since: Jan 08

Dallas, TX

#64 May 9, 2008
Michael wrote:
Please note that this is just an estimate and that the lower numbers have the highest probability of being factual.
Only if you believe that that USGS has the most accurate estimates.

It was not government bureaucrats who discovered the first oil field or developed the oil reserves the world depends on today.

That doesn't mean the bureaucrats are bad people but the don't have the expertise or the research tools the oil companies have to base their guesses on.

We know there is oil there in Alaska and in enough quality to make it commercially viable.

And there is no denying that America needs the oil.
Jones

“It's about the American People”

Since: Jun 07

Flushing, NY

#65 May 9, 2008
Michael wrote:
Just so we're clear. This is the way the USGS results are reported:
A 1998 United States Geological Survey (USGS) study indicated at least 4.3 billion (95% probability) and possibly as much as 11.8 billion (5% probability) barrels (0.9 to 2.5 km³) of technically recoverable oil exists in the Arctic National Wildlife Refuge 1002 area, with a mean value of 7.7 billion barrels (1.7 km³). In addition, in the entire assessment area, which covers not only land under Federal jurisdiction, but also Native lands and adjacent State waters within three miles (5 km), technically recoverable oil is estimated to be at least 5.7 billion (95%) and as much as 16.0 billion (5%) barrels (0.7 to 1.9 km³), with a mean value of 10.4 billion barrels (1.2 km³).
Please note that this is just an estimate and that the lower numbers have the highest probability of being factual.
Well said and true. US land and waters were ‘blessed’ with abundant amount of oil for the independent of the American people from their radical Islamic oil-rich enemies.
Gasoline can be made by well known techniques from either one of oil, oil shale, gas, coal, tar and hydrates at various prices that will become lower during the years to come.
Nevertheless, with oil price that can reach $200 a barrel in the summer it is the most irresponsible negligence in US government’s history of President Bush and the left wing liberal Dems led Congress to sacrifice the independence of the American people by shutting down all US domestic oil production. Failure to start today using our own US land and waters virtually unlimited energy resources that will free the American people from dependence on oil from the Iranian regime, the Saudi Arabian regime and their Islamic terrorist suicide bombers that seek our demise is nothing short of criminal act against the American people since it could bring to an all-out war sooner than later in the Middle East. It is wrong for President Bush to send our US troops to fight for the security of oil fields in Iraq and the Middle East that our national security and economy are dependent on the oil from Iraq and the oil-rich Golf countries because we neglected to use our own energy resources.
Michael

Palm Harbor, FL

#66 May 9, 2008
Mac-7 wrote:
<quoted text>

No one has all the answers to your questions. But it is precisely the endless objections and roadblocks of the environmentalists that have brought us to the sad situation of having to depend on crazy foreigners for our energy lifeblood.
.
.....or the endless objections and roadblocks or the oil industry to developing alternative energy sources for the last thirty or forty years.
Michael

Palm Harbor, FL

#67 May 9, 2008
Sorry, "of the oil industry"
Michael

Palm Harbor, FL

#68 May 9, 2008
Mac-7 wrote:
<quoted text>
Only if you believe that that USGS has the most accurate estimates.
It was not government bureaucrats who discovered the first oil field or developed the oil reserves the world depends on today.
That doesn't mean the bureaucrats are bad people but the don't have the expertise or the research tools the oil companies have to base their guesses on.
.
You're talking about the same people Chief22 quoted to make his argument, right?

“Did U plug the damn hole yet?”

Since: Jan 08

Dallas, TX

#69 May 9, 2008
Michael wrote:
<quoted text>
.....or the endless objections and roadblocks or the oil industry to developing alternative energy sources for the last thirty or forty years.
There are no roadblocks to alternative energy being thrown up by the oil industry.

If wind power is better or cheaper than oil for making electricity or powering our cars someone would be covering the landscape with windmills or solar panels.

George Soros is probably rich enough to finance a wind farm to put Exxon out of business but he hasn't done it.

I wonder why he hasen't if alternative energy is such a winner in the marketplace.

The environmentalists have built up the oil companies as the big bad wolf when the fact is that alternative energy is not quite ready for prime time.

Except for nuclear power which does work, but the environmentalists reject.
Jones

“It's about the American People”

Since: Jun 07

Flushing, NY

#70 May 9, 2008
Mac-7 wrote:
<quoted text>
There are no roadblocks to alternative energy being thrown up by the oil industry.
If wind power is better or cheaper than oil for making electricity or powering our cars someone would be covering the landscape with windmills or solar panels.
George Soros is probably rich enough to finance a wind farm to put Exxon out of business but he hasn't done it.
I wonder why he hasen't if alternative energy is such a winner in the marketplace.
The environmentalists have built up the oil companies as the big bad wolf when the fact is that alternative energy is not quite ready for prime time.
Except for nuclear power which does work, but the environmentalists reject.
Well said. There is no alternative energy on planet earth to the organic materials that were made of green leaves during millions of years which are oil, coal, and gas, oil shale, hydrates and tar that can all be converted cheaply and cleanly to gasoline for less than $2 a gallon during the next 500 years.
Oil was made of green leaves, oil shale was made pf green leaves, coal was made of green leaves, tar was made of green leaves and natural gas was made of green leaves.
CO2 is the food of the plants that they use for making green leaves. Humanity that is using food made of plants and green leaves naturally using oil made of green leaves.
Al Gore was trying and was successful in brainwash our young generation at public schools with his movie that is based on lies and half truths in his war against the oil companies.
Al Gore caused a major damage to America that is looking for alternative fuels that are not found on planet earth.
Wind and sunshine do not have enough energy and they cannot move 800,000,000 cars and trucks that worth 20 trillion dollars and that are using 'green' gasoline during 120 years.

“Did U plug the damn hole yet?”

Since: Jan 08

Dallas, TX

#71 May 9, 2008
Jones wrote:
<quoted text>Wind and sunshine do not have enough energy and they cannot move 800,000,000 cars and trucks that worth 20 trillion dollars and that are using 'green' gasoline during 120 years.
I think alternative energy will be practical someday. It just hasn't quite arrived yet.

The environmentalists are playing a dangerous game of chicken with our energy supplies by opposing new production in the hopes that we will run out of oil and be forced to adopt something more to their liking.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 4
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

News Corporation Discussions

Title Updated Last By Comments
News White House briefing is off-camera again Jul 17 USA Today 1
News Huge, homely mastiff named Martha wins world's ... Jul 12 AmPieJam UncleSam 3
News Maxine Waters: O'Reilly 'needs to go to jail'; ... Jul 8 maxine waters hu... 28
News Megyn Kelly has drawn fire for interviewing con... Jun 30 C Kersey 5
News Barbara Harrison - About Us News Story - WRC | ... (Apr '08) Jun '17 Nancy 87
News Jonah Goldberg: Roger Ailes, one of a kind May '17 kosher nostra 1
News Stephen Colbert Says Fox News Is Declining Beca... May '17 yidfellas v USA 1
More from around the web