Congress, get off your gas, and drill!

[IndyShiftman]

Seen a news report this morning. Chuck Norris is urging all Americans to log on to
http://www.americansolutions.com/
and sign a petition for America to start drilling in our country.
I say screw the environmentalists. I want cheaper gas. >

[min301]

Re: Congress, get off your gas, and drill!

Do it!!!!

I'm tired of this crap.

[Robert1320]

Re: Congress, get off your gas, and drill!

A US oil company will just sell it to another Country make money and it will do nothing for the US. Well, it will make more money for an oil company.

3% of the worlds oil is up there... If we use it, it will reuduce oil prices by 3%... NO.

Leave it up there and when the world runs out tap it for the US only!

[dieselgeek]

Re: Congress, get off your gas, and drill!

All of this assumes that there is either a shortage of oil, or there's a lack of capacity to refine existing quantities of oil. Personally, I don't believe either of those situations exist. There are enough online "articles" sounding factual, for both sides, that there seems to be no way to get factual information about why prices are jacked up as high as they are.

[min301]

Re: Congress, get off your gas, and drill!

Thats easy-greed.

[Ron Ward]

Re: Congress, get off your gas, and drill!

The way I see it, if the oil companies are making record profits, then it would seem the market would support more competition. Why haven't more oil companies spawned from all of this demand and skyrocketing profits? If there was more competition, then there would be more supply, thus lowering costs.

Oh yeah.... I almost forgot. our Fearless Leader is an oil man. Why would he allow competition and take money out of his pockets?

[min301]

Re: Congress, get off your gas, and drill!

Zactly, bro.

[Huskinhano]

Re: Congress, get off your gas, and drill!

I'm doing my part. I've got my 22 acres in Wyoming county, PA leased out for gas drilling/exploration. ;D ;D ;D Apparently I'm sitting over a gas field in the Marcellus shale that estimated to contain 568 trillion cu ft of gas.

[JeffMcKC]

Re: Congress, get off your gas, and drill!

Oil companies do not set the price of oil, it is a commodity and is traded. Traders are driving up the price they have killed everything else in the stock market. If you want the price of a barrel to come down, raise the margin, so they are playing with more of their own money than they are now.

That does not get votes, and thats all anyone looks at, on the news and in Government. Blaming BIG Stock Traders does not sound as menicing.

[olbuddybob]

Re: Congress, get off your gas, and drill!

Oil companies do not set the price of oil, it is a commodity and is traded. Traders are driving up the price they have killed everything else in the stock market. If you want the price of a barrel to come down, raise the margin, so they are playing with more of their own money than they are now.

That does not get votes, and thats all anyone looks at, on the news and in Government. Blaming BIG Stock Traders does not sound as menicing.

You are exactly right!!!!

[tiresmoke!]

Re: Congress, get off your gas, and drill!

Speculators are what's running the prices up.

In the end, it's US that's being held by the short-hairs......and personally, I've had ENOUGH.

[VTJUNK]

Re: Congress, get off your gas, and drill!

I heard a report the other day that the price of a barrel of oil is inflated by as much as $40.00 because of speculators. We know all about that game guys, it's been happening in the car hobby for years. Eventually they will move onto the next big money maker. I'm not saying the price of gas and oil will ever recover to what it was. With what we've been paying recently, why would they ever let the price go back down?

[Huskinhano]

Re: Congress, get off your gas, and drill!

Oil companies do not set the price of oil, it is a commodity and is traded. Traders are driving up the price they have killed everything else in the stock market. If you want the price of a barrel to come down, raise the margin, so they are playing with more of their own money than they are now.

That does not get votes, and thats all anyone looks at, on the news and in Government. Blaming BIG Stock Traders does not sound as menicing.

A local DJ who does a stock watch on his show was mocking an article he read here last winter about the price heating oil was going to go up during the winter because of strong demand predicted by traders! You're exactly right!

[JeffMcKC]

Re: Congress, get off your gas, and drill!

They will drive it up, buy PUTS, and make money on the way down too.

Tighter regulation and you wont hear that from me many times needs to be ued on Hedge funds and other money makers needs to be used, Like it was on the Hunt Brothers in the Silver Market back in the day

[Mr4Speed]

Re: Congress, get off your gas, and drill!

Funny thing-but I remember the last times that gas made these kind of price jumps (73,79) there wasn't enough gas to go around. I have yet to see a line at a gas pump, or a station running out. Supply and demand?