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Congress votes to drill !Follow

#52 Aug 05 2008 at 8:06 AM Rating: Decent
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Meanwhile the price of oil falls to 118$


Yeah, this is the risk premium from Tropical Storm Eduardo coming off as it misses Gulf of Mexico oil assets.

Not related to drilling at all. Sorry.

If Iran sneezes in the next hour, it'll be back above $120.

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#54 Aug 05 2008 at 8:20 AM Rating: Decent
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Whatever you have to tell yourself. If oil wasn't such a big issue why is Pelosi telling her Dem buddies to say whatever they have to about drilling to get re-elected?

To this day I don't see what the big deal is about allowing US based oil companies to drill offshore. Have you ever scuba dived at an oil rig?

Dems say it won't help but what's the harm in trying?


You've got the wrong guy. I could care less if they drill for oil using polar bears, caribou, and manatees as the drill bits. It's just not going to impact the price of oil virtually at all.

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#56 Aug 05 2008 at 8:31 AM Rating: Decent
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Then why fight against it?


I don't. As I've mentioned, I don't really care. That said, if I was deciding, it would be no. There's no reason to pass a law to do something that only helps oil companies and their stockholders and won't lower the price of fuel for consumers.

I'd be against driving up to Exxon headquarters with big trucks full of money, too.

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#58 Aug 05 2008 at 9:04 AM Rating: Decent
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But apparently not against Exxon driving up to your house with a check for you to buy their product.


I have no idea what this even means, crackhead. If you mean a unique tax on oil companies, no I'd be against that, too. If you mean the government seizing Exxon and nationalizing it, sure, that I'd be for.



Edited, Aug 5th 2008 1:02pm by Smasharoo
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#59 Aug 05 2008 at 9:08 AM Rating: Excellent
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Smasharoo wrote:

But apparently not against Exxon driving up to your house with a check for you to buy their product.


I have no idea what this even means, crackhead. If you mean a unique tax on oil companies, no I'd be against that, too. If you mean the government seizing Exxon and nationalizing it, sure, that I'd be for.



Edited, Aug 5th 2008 1:02pm by Smasharoo


I assume he's ranting about Obama's windfall proposal.

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#61 Aug 05 2008 at 9:16 AM Rating: Decent
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Do you even know what a "windfall profit" is?


It's a giant unusually large profit. In the case of Exxon, the largest in the recorded history of the world.


It's nothing more than a politician taking profits from a company they hate.


I doubt Obama hates Exxon. He owns stock.



Edited, Aug 5th 2008 1:14pm by Smasharoo
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#62 Aug 05 2008 at 9:18 AM Rating: Excellent
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It's an excise tax based on the difference between removal price and current market price. It was in effect all through the Reagan years, as you may recall.

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#63 Aug 05 2008 at 9:20 AM Rating: Decent
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It's an excise


You realize you've already lost him, right?

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#64 Aug 05 2008 at 9:24 AM Rating: Excellent
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Smasharoo wrote:

It's an excise


You realize you've already lost him, right?



/facepalm

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#66 Aug 05 2008 at 9:29 AM Rating: Excellent
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Quote:
And define "giant" what the h*ll does that mean? Who decides what "giant" is and do we apply these same standards to every industry, say the tech industry or entertainment industry?


I think the biggest profit ever turned by any company in history qualifies de facto.


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#68 Aug 05 2008 at 9:53 AM Rating: Excellent
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Quote:
NEW YORK – Exxon Mobil Corp broke its own record for the highest-ever quarterly profit by a U.S. company again Thursday,


Not a lot taken on faith.

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#69 Aug 05 2008 at 9:54 AM Rating: Decent
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Don't tell me you're buying into Smashes nonsense about the biggest profit ever EVER!


The hivemind told her, duh.

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#71 Aug 05 2008 at 9:58 AM Rating: Excellent
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Google it yourself, Poindexter.

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#72 Aug 05 2008 at 10:29 AM Rating: Decent
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Jophiel wrote:
trickybeck wrote:
Didn't people formerly accuse his claims of compromise and magnanimous bipartisanship to be false based on his strictly liberal voting record?
Hehehe... I pointed out some joint legislation Obama drafted with Senator Bunning (R-KY) regarding liquified coal research but that didn't count because Gbaji declared it a boondoggle

No True Scotsman and all that...


Er? It was a boondoggle because it's a "solution" that is worse then what we're using today. Look. Maybe someday we'll be able to liquefy coal and make it both cost effective and environmentally sound. But right now it costs more then oil (even at todays prices) and has a larger total environmental impact. Obamas "solution to the solution" was to investigate into carbon sequestration, yet another boondoggle that is so ridiculously expensive and unmanageable that even if they solve all the technological hurdles it can't possibly be used. The only reason Obama supported either of those was to make the coal interests in your own state happy, and not out of some desire to actually generate a working solution. But then, you already knew that right?


It's not compromise to agree to use something but only if you place restrictions on it such that it's totally unusable in the end form. If Obama's position is that he's willing to use coal in the US, but only if we use full carbon sequestering technology in the process, then he's really saying that he wont allow coal to be used.

Placing such high restrictions on something that you know the other side wont (or can't) meet isn't really compromising...
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#74 Aug 05 2008 at 10:33 AM Rating: Decent
knoxsouthy wrote:
Smashed,

Quote:
Yeah, this is the risk premium from Tropical Storm Eduardo coming off as it misses Gulf of Mexico oil assets.


Hey smashed if offshore drilling won't affect the price of oil then how could the threat of a few offshore oil rigs being destroyed cause an increase in the cost of oil?



Easy, speculators.
#76 Aug 05 2008 at 10:39 AM Rating: Decent
knoxsouthy wrote:
Naughty,

So following that same logic if we were to drill more shouldn't that cause speculators to see a future increase in supply thereby driving the cost down?



Why on Earth would they want to make less money?
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