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US Government: We have a lot of oil

Discussion in 'American Politics' started by HerbieHeadley, May 15, 2012.

  1. HerbieHeadley

    HerbieHeadley North American Energy Independence Now!

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    In its October 2010 report, GAO noted that oil shale development presents the following opportunities for the United States:

    • Increasing domestic oil production. Tapping the vast amounts of oil locked within U.S. oil shale formations could go a long way toward satisfying the nation’s future oil demands. Oil shale deposits in the Green River Formation are estimated to contain up to 3 trillion barrels of oil, half of which may be recoverable, which is about equal to the entire world’s proven oil reserves.
    • Socioeconomic benefits. Development of oil shale resources could lead to the creation of jobs, increases in wealth, and increases in tax and royalty payments to federal and state governments for oil produced on their lands. The extent of these benefits, however, is unknown at this time because the ultimate size of the industry is uncertain
    ===========

    US Government: We have a lot of oil | Radio Vice Online


     
  2. HerbieHeadley

    HerbieHeadley North American Energy Independence Now!

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    Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?

    "In fact, according to a recent Business Insider article, this deal gives the Chinese government the right to a third of any new oil discovered by Chesapeake Energy in the entire region....
    The Niobrara Shale formation stretches over Colorado and Wyoming, as well as Kansas and Nebraska. Chesapeake Energy's position is in Wyoming and Colorado. If Chesapeake find any more oil in this region, CNOOC has the rights to 33.3% of what is found.
    But this is not the only area of the country where China now owns energy rights. The following is an excerpt from a recent state-by-state breakdown that appeared in the Wall Street Journal....
    Louisiana: Sinopec has a one-third interest in 265,000 acres in the Tuscaloosa Marine Shale after a broader $2.5-billion deal with Devon Energy.

    Michigan: Sinopec gained a one-third interest in 350,000 acres in a larger $2.5 billion deal with Devon Energy.

    Ohio: Sinopec acquired a one-third stake in Devon Energy’s 235,000 Utica Shale acres in a larger $2.5 billion deal.

    Oklahoma: Sinopec has a one-third interest in 215,000 acres in a broader $2.5 billion deal with Devon Energy.

    Texas: Cnooc acquired a one-third interest in Chesapeake Energy’s 600,000 acres in the Eagle Ford Shale in a $2.16-billion deal."
    ==========================

    Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?

    Why does everything about this Hussein regime seem to not be in America's best interest?
     
  3. RETS

    RETS Telling it like it is

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    Here's a little conjecture on my part, but for what it's worth...

    They may be allowing China to grab that oil as a result of the massive debt we owe them. Either it's out of the goodness of the politicians hearts (?), or China is leveraging the debt to get its way.

    However the real story reads, it's a disgrace.
     
  4. someguy14

    someguy14 Guest

    Give me some.


    When I recieve it, free oil for everybody. :)
     
    RETS likes this.
  5. Blayz

    Blayz New Member

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    You guys are going to have to explain your understanding of "free market economy" and "capitalism". Are these things that only apply to Americans, and the rest of the world can go to heck? Why shouldn't China buy US oil deposits if it can?

    I always thought you conservatives opposed government regulation of business. Once again it appears to be "government out of my business, but deep in everyone else's".

    If it was England, Canada or Australia doing the buying, would you care?
     
  6. RETS

    RETS Telling it like it is

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    There's a bit more to it, which I'll get to in this response. Suffice to say that were the situation only slightly different, I'd have no problem with it.


    I'm a Conservative, to a degree apparently, but I'm a Constitutionalist as well. In other words, the world can go to hell as far as this country's aid is concerned if this country is not living up to its duties to the citizenry.

    The United States has a constitutional responsibility to maintain the infrastructure of the country. Right now, oil supply plays a vital role in that infrastructure. The fact that the government is not pulling that oil out and selling it domestically to alleviate the price at the pumps; but is selling it to another country/countries; shows that it is neglecting its duties.

    Was the government to be selling to China while also supplying her own citizens, I would have no problem. That is not what is happening. So, China is getting a comparatively good deal on oil, while we "suffer" at the pumps. (Quotes to indicate that I realize others around the world are also dealing with high gas prices.)


    If our government was doing the same thing with those countries they're doing with China, while not providing for her own citizens? Yes, I would.
     
  7. Blayz

    Blayz New Member

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    So to clarify, you think your government should be in the oil business.

    Should private enterprise play a role at all? Should all oil companies be nationalized?

    Any of that in the constitution?

    Evidence please.
     
  8. someguy14

    someguy14 Guest

    Instead of belittling the responses and adding to them, profess your own belief. :)

    That is only tough for the hypocritical.
     
  9. Blayz

    Blayz New Member

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    I'm not belittling anything. I'm trying to understand why conservatives think a Chinese company buying US oil deposits is Obama's fault, and what they think he/the government should do in response.

    I'm not sure you know what hypocritical means, here, let me use it in a sentence for you "Screaming less government involvement in business simultaneously with the government should be in the oil business" is hypocritical.

    Here's another example: claiming Obama is refusing people the right to drill for oil whilst simultaneously complaining about people drilling for oil.

    To answer your question, I could not give a tinker's cuss who onws the oil. I choose to live in a country with a decent public transport system, and do not own a car.
     
  10. AceHero

    AceHero Veteran

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    Exactly. I live in a city that has a decent (and improving) transit system. It's amazing how people complain about gas prices and yet aren't even willing to change their lifestyle a little bit.
     
  11. someguy14

    someguy14 Guest

    Poor people still exist. I gaurantee the world is still a fail. :)
     
  12. TheQuietRiot

    TheQuietRiot indomitable

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    Americans you have no idea what it is like to be truly shafted at the petrol pumps.

    £1.44 a litre

    Mercy me
     
  13. Blayz

    Blayz New Member

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    That's USD $10.50/gallon
     
  14. Lee52

    Lee52 New Member

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    Actually today it would be US $8.73/US GAL with current exchange rate.
    Still a great deal more than is paid in the USA.

    That said, most of the price of a gallon of gasoline in the USA is tax, either federal or state tax. Very little of the pump price in the US is the cost of the crude, refining costs, and transportation costs.

    I would venture a guess that this is also true of Europe and most of the civilized world.
     
  15. RETS

    RETS Telling it like it is

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    First, let me just inform all who decided to jump on the "stupid Americans complaining about gas prices" bandwagon, I very specifically noted that I realize many other nations are dealing with the same issue. Let's go ahead and move on, shall we?


    No, I think they ought to get out of the "preventing private companies from drilling" business.


    See above response, to which I'll add this: I don't care a whit if foreign countries drill for oil here, so long as American companies are also able to do it with the same freedom or better.


    Oh, a trite comment. How about the Australian Constitution- Anything there?


    What would you like? Perhaps the $2.2 billion dollar deal giving them access to US shale deposits? (btw- They only paid $900 million up front, ergo, "comparatively good deal.)"

    Or, would you prefer a state by state listing of their purchases so far?

    SPOILER:

    800k acres in Colorado and Wyoming.
    265k acres in Louisiana.
    350k acres in Michigan.
    235k acres in Ohio.
    215k acres in Oklahoma.
    600k acres in Texas.

    Oh, and remember the restriction on Gulf of Mexico oil rigs? Yeah, well, considering China leased more rigs, six of them deep-water, I'm guessing that doesn't apply to foreign countries.


    Can't speak for all other conservatives, naturally. I don't blame Obama alone. I blame the federal government as a whole. As a response, they ought to remove the restrictions on privately owned oil companies, loosen regulations, and kick the EPA in the crotch.


    I've got another one for you... Wait for it...


    YEAH! There it is. :wave:


    I ride a bike; the bus; the train when I can afford it- I also carpool and have a natural gas truck. Guess what? I'm still complaining about the gas prices, because the world over, they are outright insanity.

    Moreover, people should not be forced to take jobs closer that pay less simply because they cannot afford to drive further. (Next door neighbors.)

    People should not have to take public transportation, which in my area does not have the greatest safety rating, just because the government is getting greedy with the gas tax.

    Finally, if this truly is the land of the free, people should not HAVE to change their entire lifestyle because of GAS PRICES... I mean, seriously- That doesn't strike you as being a pitiful excuse?
     
  16. Blayz

    Blayz New Member

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    You have provided absolutely no evidence that they are not able to do so. All you have done is complain that some Chinese companies bought an interest in US deposits.

    Nup, it's like 5 pages long and deals solely with government structure.

    Once again, absolutely no evidence that this comprises a "comparatively good deal". Comparative to what?

    Why does it matter?, and I have to ask again why is it Obama's fault, and further what, exactly, as a conservative that wants the government to stay out of private enterprise, do you want the government to do?

    Yeah, not the only part of your post comprised entirely of guesswork. What restriction, exactly???

    BP to start three new Gulf of Mexico oil rigs | Business | The Guardian

    Don't see you complaining about British companies allowed to drill there.

    Also, how many rigs do you want?

    Oil Platforms in the Gulf: How Many and Who Owns Them? | Deep Sea News



    Except Chinese ones, obviously.

    You are going to have to explain how "not caring about who owns oil because I don't own a car" is in any way shape or form hypocritical.


    You started the post saying you wanted to move on from a gas price discussion...and of course ended it with a discussion on gas prices.
     
  17. RETS

    RETS Telling it like it is

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    Blayz, I respond to people's posts. I try to only do it when there is intelligent conversation to be had, but I apologize for not sticking to my guns on that.
     
  18. Blayz

    Blayz New Member

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    So, no evidence then.
     
  19. RETS

    RETS Telling it like it is

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    No, absolutely no evidence that I'm conversing with anyone who is not willfully ignorant.


    Again- Sorry. If I can find some sort of evidence that everything is hunky-dory and going exactly as you seem to paint it, I'll be sure to post. :wave:
     
  20. Blayz

    Blayz New Member

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    So, no evidence then.
     
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