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Old 03-21-2008, 10:51 AM   #1
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I think this link is well worth reading.
Why Exxon Won't Pump More Oil
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Old 03-21-2008, 10:51 AM   #2
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I think this link is well worth reading.
Why Exxon Won't Pump More Oil
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Old 03-21-2008, 01:26 PM   #3
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Well, their buddies ARE running the government! So we shouldn't expect any help from them.
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Old 03-21-2008, 01:44 PM   #4
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Boy, that will frost your windshield.
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Old 03-21-2008, 06:06 PM   #5
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Good gosh sad.
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Old 03-21-2008, 06:36 PM   #6
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I think what oil companies have learned from the current situation is that even when pump prices approach $4 per gallon demand only drops somthing like 3%.

To them, that would suggest that the point on the cost/demand curve where they make the most profit is probaby at a much higher price.
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Old 03-21-2008, 10:45 PM   #7
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Again, sound reasoning for a freeze on commodity trading on oil futures/etc until fuel prices drop back to 2000 levels.
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Old 03-22-2008, 05:33 AM   #8
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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 JC2:
I think this link is well worth reading.
Why Exxon Won't Pump More Oil </div></BLOCKQUOTE>

I think we may be reading something into this that may not be correct. This world is running on known oil reserves & it is difficult to maintain status quo. Read on further for the explanation.

Exxon chief sees growth opportunities

As production costs escalate, ExxonMobil is forced to significantly boost capital spending just to maintain oil and gas reserves near existing levels.Exxon's flat oil forecast was even more surprising because it came during a meeting when the company was trumpeting a big increase in capital expenditures -- to at least $25 billion a year going forward, up from $21 billion last year.

The company also outlined a slew of big projects, 12 of which are starting up this year. These include the 600 million barrel Kizomba C development off the coast of Angola that began producing on New Year's Day and another in a string of giant liquefied natural gas facilities in Qatar. Unlike oil, Exxon's production of natural gas -- much of it liquefied and shipped in tankers to Asia and Europe -- is projected to climb over the next four years.

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Old 03-22-2008, 06:37 AM   #9
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I agree with the other poster on the futures trading. These guys don't on an oil or gas well, refinery, pipeline or super-tanker, they just speculate, drive the price up then sell off their unproduced oil at profit then when the price goes back down buy it back. Let a hurricane brew way out in the Atlantic where no one knows where it's going, the futures traders start bidding up the price of oil on the chance that it "might" get into the Gulf Of Mexico and disrupt production. When the tree huggers and wimp politicians get off their duff and allow the producers to build more refinerys and explore for more oil offshore in places other than Louisiana, Texas, Mississippi and Alabama it could help the supply side here in the US and not be so dependent of foreign oil & gas.
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Old 03-22-2008, 07:05 AM   #10
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The Chinese are also causeing the price to go up due to their record demands for oil and fuel, as for the oil companies "Friends" in the government, It cuts across both party lines, it's just the Dems that rattle their sabers to make you think that they are going to do something. Production is also set by OPEC, who does not want prices to drop. Until we are independent of their oil, you will just have to take it.
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Old 03-22-2008, 07:30 AM   #11
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[QUOTE]Originally posted by Petro

The company also outlined a slew of big projects, 12 of which are starting up this year. These include the 600 million barrel Kizomba C development off the coast of Angola that began producing on New Year's Day and another in a string of giant liquefied natural gas facilities in Qatar. Unlike oil, Exxon's production of natural gas -- much of it liquefied and shipped in tankers to Asia and Europe -- is projected to climb over the next four years


With well over 60 BILLION in profits last year, do you suppose Exxon will be able to afford this project?

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Old 03-22-2008, 07:56 AM   #12
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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 Hillbilly2:
The Chinese are also causeing the price to go up due to their record demands for oil and fuel, as for the oil companies "Friends" in the government, It cuts across both party lines, it's just the Dems that rattle their sabers to make you think that they are going to do something. Production is also set by OPEC, who does not want prices to drop. Until we are independent of their oil, you will just have to take it. </div></BLOCKQUOTE>
I totally agree with you. After all we all have our TOYS to fuel up all the time. life will be a drag w/o our m/h and toys.
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