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Old 04-17-2008, 07:58 AM   #29
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I've been working in the oil and gas industry since 1972 and most of it offshore in the Gulf of Mexico. The environmentalist have been killing us for a long time. Sure there have been many safety rules imposed which have saved lives and the environment but they do go overboard with their rules and regulations. Many of the small independent operators have been put out of business. I myself have gone through three buyouts. Most of the regulations come down from Washington where the legislators (lobbyist) have no idea of how the industry actually operates in real life. Sure this nation can be self supporting in energy needs but until Washington has to live by the rules we do it will not change in my lifetime. Well, as gasoline goes up so does my oil stock. See you at the pumps. God bless the USA!!!
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Old 04-20-2008, 12:20 PM   #30
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Antrim Gas Shale you can see while traveling. One of the most scenic areas we have camped is Ostego Co. in Northern Michigan on the shores of Lake Huron outside the city of Alpena in Hoeft State Park.

But in Alpena is a quarry with an outcropping of Antrim Gas Shale. You can see the gas, feel the gas and even light the rock. Pretty neat stuff.

If you like Polish Sausage Alpena is your town.
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Old 04-22-2008, 06:05 AM   #31
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ForestGrump has given you the best explanation on the oil shale. Sounds like he was/is a petroleum engineer or has extensive field experience in the production end of the industry.
Now for the title of this thread. The Government has never "discovered anything" except by accident. The only thing the government does is charge fees for permits and sells leases on public lands and water bottoms, sometimes enormous prices for Gulf of Mexico. Then after the oil company spends the huge amount of $$$$$$$ to drill a well with no real assurance of a payout they get to pay the government royalties of everything produced. The government also has no part in developing the technologies that make the drilling more effecient, as in seismic, drilling tools & practices, completion tools and practices and enhanced production, all created by the many oilfield service companys who work for the oil companys. Government's roll, sort of like the Seagull: Eat, Squack and S---, then try to regulate you out of business.
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Old 04-22-2008, 12:29 PM   #32
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AMEN!
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Old 05-06-2008, 07:56 AM   #33
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IMHO, it's all a big PLOT. Yrs ago when they first looked at shale oil the verdict was its way to expensive to produce. The American public will never pay the freight for this process. So how will we make it work, lets jack up the price slowly until they can swallow the pill, and then we can produce our shale oil and such. After all, the american public will only cry for a while. and as long as they can get their fuel they will settle down. Let me ask you all this question, have fuel prices risen around the world on the same level as in the USA ? We are all being played with, and theres nothing we can do about it. Like someone said above, get used to $5.00 a gallon fuels. We the people, yeah right, more like, we the big dollar lobbyists!
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Old 05-06-2008, 10:15 AM   #34
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Yup, it is a PLOT aw-right. But please note, the price of gas here is very much in line with the price people all over the rest of the world pay EXCEPT FOR THE MAJOR OIL PRODUCERS.

We are NOT a major producer and I saw an article where it was reported that some greenie group has filed a suit to prevent the search, drilling, and production anywhere in the US.

Does anyone but me see a connection?

Oh, I fogot to mention the "Glaring" error in the title of this thread. It is NOT a Gov't Oil Discovery. The oil was looked for and found by private business.
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Old 05-06-2008, 11:41 AM   #35
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Jestme13:
IMHO, it's all a big PLOT. Yrs ago ... </div></BLOCKQUOTE>

Baloney! How does one carry on a plot for 70 years during which time employees change dramatically including the management, board members, etc.? Not only that the companies change being bought sold etc. The big oil companies do not like each other - read the Seven Sisters.

The price of oil is determined on the open market, not by an oil company.

Current gas prices in:
Alberta 127.9/1.
1. Bosnia-Herzegovina $10.86
2. Eritrea $9.58
3. Norway $8.73
4. United Kingdom $8.38
5. Netherlands $8.37
6. Monaco $8.31
7. Iceland $8.28
8. Belgium $8.22
9. France $8.07
10. Germany $7.86
11. United States $3.45

So the prices of gasoline has risen more dramatically in many countries - your premise busted.

If you want cheap gas go to Venezuela but be prepared to spend some bucks on a coke/pepsi whichever the government is allowing to sell now or even a bottle of water.

Here is a good site explaining the fuel oil market, the refinery process etc.

http://www.eia.doe.gov/bookshelf/bro...sel/index.html
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Old 05-06-2008, 12:10 PM   #36
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As one radio guy says, the most expensive thing in this country is IGNORANCE. I hate to say it but very few voters actually try to educate themselves in basic economics and world politics and are more interested in hating one party or another than the welfare of the country.
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Old 05-06-2008, 04:53 PM   #37
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Dear Mr Gump, are you telling me that there is no such thing as a stratigic plan for any of these big boys, come on now. And it's not 70 yrs, it's only 30 the 1970's is when it started. My question was, have world prices at the gas pumps moved up at the same % this past yr as in the USA? Yes, these guys may not like each other, but they play well with each other.
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Old 05-06-2008, 06:28 PM   #38
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The lose in value of the US dollar has caused oil prices to rise dramatically.

US made goods are cheaper on the world market. Us imports are more expensive.

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Old 05-06-2008, 07:19 PM   #39
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Google and Wikipedia have extensive articles on the subject of "colorado oil shale". Seems that the most economical extraction process could deplete the current fragile Colorado River system water supply of such places as Phoenix, L.A. etc.....
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Old 05-06-2008, 07:21 PM   #40
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One candidate said they would take these excess profits from Big Oil and spread it over the poor, or something like that.
If so, wouldn't that be Federalizing the oil companies like certain other countries?

This drastic action would of course implemented to save us all from those tyrannical oil barrens.

Social order will quell the tide of discontent.
This is why we have been taught to HATE BIG OIL and their greed.

PLOT? No, never in a million years. Just a coincidence.

Robin Hood save us from those horrible rich people. Pitting one economic group against another.
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Old 05-07-2008, 01:55 AM   #41
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In 1993 I worked as a programmer writting mapping software and one of our projects was mapping continental drift and the edges of the tectonic plates back to their mating locations on the plates that they were originally joined to or part of. We knew back then that any known geological depositories could have a potentially equal or greater matching deposit at the match point on the mating plate. The major deposits of oil etc were mapped out then and this was published to the industry.

We have known where these untapped oil reserves that can be accessed via convential oil wells are located and just about how much is there for 15 years now. There is no need for any real new finds for today as the industry has been sitting on these and other existing finds for many, many years.

Exploiting these finds however could burst the bubble of the oil companies multi-billion dollar gravey train so even though they have bought and paid for this information they are just sitting on it.

If we could take out the extreme greed and the constant pursuit of obscene profit margins it would get better but for now we have to deal with those that have taken control and are in the constant pursuit of the better than X profit margin. Lets face it there was a time when a company would have been giddy to boast of a net profit margin of 15% but today even a net profit of 35% dosn't seem to satisfy the greedy and they are constantly wrangling to achieve their extreme profit goal regardless of the consequences to the rest of humanity. It boils down to loving money more than your fellow man.
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Old 05-07-2008, 02:54 AM   #42
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by NeilV:
Lets face it there was a time when a company would have been giddy to boast of a net profit margin of 15% but today even a net profit of 35% dosn't seem to satisfy the greedy and they are constantly wrangling to achieve their extreme profit goal regardless of the consequences to the rest of humanity. It boils down to loving money more than your fellow man. </div></BLOCKQUOTE>
OK, so what profit margins are the major oil companies running? For FY2007, it was in the range of 9.5% to 10%. Because refinery margins were squeezed by higher crude oil prices, 1Q08 profit margins were lower - for example, ConocoPhillips reported 1Q08 results of 7.46%. Do you consider that excessive???

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