Get Ready For $5 Gallon Gas!!!!!

[hypocritexposer]

Which ones count??? It is a country in which you are free to vote if it matters to you or if it doesn't matter to you don't vote-its your choice. would you be saying the same if McCain had won??

that does not correct the statement you made..

and yes I would correct you if you had made that type of statement about "most of America" in regards to McCain.

 

[Larrry]

I get a kick out of the ignorant people who spout they want a third party or they vote for the person. That sounds all hunky dory but in reality they are only perpetuating bad government.
They in the mean time miss their opportunity to have an impact on the candidates.

But what are we to expect, they voted for obama. I can only see two reason a person could have voted for him. Either they are "racist" or "ignorant"

Well I guess most of America was racist or ignorant in the last election,at least according to you. And yes, you are eentitled to your opinion.

Well look at it, the Racists voted for him and the other category didn't inform themselves about obama. After all the conservatives were telling you that you can't believe him. After all look at it he hasn't lived up to 99% of his promises. We saw it....but the libs refused to investigate.
WE TOLD YOU SO

 

[TSR]

I don't think very many people had any trouble with inferring what was meant but I edited it for those that did.

 

[TSR]

O'Reilly at it again last night going after the big oil companies on Fox news agreeing that there wasn't much president Obama could do to bring down prices but take away the oil company subsidies as they were doing fine. He also said the oil companies were taking the extra petroleum supplies America had attained because of the warmer than normal winter and selling them to China and other countries for more profit. He went on to say this decreased the supplies here causing a price increase. He also said service stations were colluding making sure they all charged the same high price, at least where he lived. O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price and not just be a money maker for big oil. O'Reilly is getting better I think, even he and Colmes agreed for the most part.

 

[Mike]

Two things drive oil prices......

1- Supply. When the supply exceeds demand, the price will go down.

2- Demand. When demand exceeds supply, the price will go up.

 

[Big Muddy rancher]

O'Reilly is an idiot. He has a guest on that knows about oil and prices and won't let him talk.
Seems that he thinks the oil companies get the oil for free. Does he not know they pay royalties to the government for every barrel they pump? They provide jobs and high paying ones for million of Americans.
He is complaining about them selling refined products over seas. He figures all oil produced in the US should stay in the US. How would the US be doing if every country figured that way. Don't they complain about manufacturing jobs going overseas. Isn't refining of oil just manufacturing? Better selling refined products then the raw materials. Wish Canada had more refining capabilities.

 

[Mike]

O'Reilly is an idiot. He has a guest on that knows about oil and prices and won't let him talk.
Seems that he thinks the oil companies get the oil for free. Does he not know they pay royalties to the government for every barrel they pump? They provide jobs and high paying ones for million of Americans.
He is complaining about them selling refined products over seas. He figures all oil produced in the US should stay in the US. How would the US be doing if every country figured that way. Don't they complain about manufacturing jobs going overseas. Isn't refining of oil just manufacturing? Better selling refined products then the raw materials. Wish Canada had more refining capabilities.

Yep, TSR and O'Reilly both are idiots........................

 

[Big Muddy rancher]

O'Reilly at it again last night going after the big oil companies on Fox news agreeing that there wasn't much president Obama could do to bring down prices but take away the oil company subsidies as they were doing fine. He also said the oil companies were taking the extra petroleum supplies America had attained because of the warmer than normal winter and selling them to China and other countries for more profit. He went on to say this decreased the supplies here causing a price increase. He also said service stations were colluding making sure they all charged the same high price, at least where he lived. O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price and not just be a money maker for big oil. O'Reilly is getting better I think, even he and Colmes agreed for the most part.

"O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price "


Oil coming down the XL I hope is bought at world prices. :shock:

It's coming from Canada a sovereign country not he 58th state as Barry would like to think.

 

[hypocritexposer]

O'Reilly at it again last night going after the big oil companies on Fox news agreeing that there wasn't much president Obama could do to bring down prices but take away the oil company subsidies as they were doing fine. He also said the oil companies were taking the extra petroleum supplies America had attained because of the warmer than normal winter and selling them to China and other countries for more profit. He went on to say this decreased the supplies here causing a price increase. He also said service stations were colluding making sure they all charged the same high price, at least where he lived. O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price and not just be a money maker for big oil. O'Reilly is getting better I think, even he and Colmes agreed for the most part.

"O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price "


Oil coming down the XL I hope is bought at world prices. :shock:

It's coming from Canada a sovereign country not he 58th state as Barry would like to think.

and why would you ever buy a raw resource, refine it (add value) and then sell it for less than you purchased the raw material for?

:lol:

 

[TSR]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.
You know I hardly ever watched Fox news but now that O'Reilly seems to be coming around a little bit I'll probably tune in a little more often. Who you guys gonna start watching???

 

[hypocritexposer]

I don't recall him saying that he wanted it sold for less than it would cost to get it on the market.

O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price

The oil transported by the XL would be world market priced, before it hits the refinery.

Refining it adds value. You wouldn't want to then sell it for less than world market price.

 

[Tam]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.
You know I hardly ever watched Fox news but now that O'Reilly seems to be coming around a little bit I'll probably tune in a little more often. Who you guys gonna start watching???

Unlike you liberals, Conservative realize that nobody is correct all the time and on this ORielly is like a dog with a bone. He is not willing to even listen to the other side that doesn't back up his thought on the subject. I found him to be totallly rude last night. After two days of slamming the oil industry, he invites an oil exec to speak then doesn't shut up long enough to allow the guy to get out a complete sentence. It was like he brought the guy on to scold him not to learn anything. He went after Monica Crowley the other night too when she tried to explain something he didn't want to hear about the same subject. At times he is very RUDE.

The only thing I did get out of the conversation with the Oil exec. was that if the refineries aren't allowed to export some gas to the higher markets to help cover the cost of production of the lower priced gas in the US they will be closing the doors. The end result will be even higher gas prices as the supplies will be lower and the US consumer will be covering the total production cost. But of course Bill wasn't willing to listen to the facts that exported gas is helpping keep gas prices in to US down as he sees the exports as causing the high prices. :roll:

Refinery Closures and the Keystone Pipeline


There have been several announcements in recent months of refinery closures that will likely impact gasoline supplies (and prices) on the East Coast. Some of those closures have been on the East Coast. Others — such as the Hovensa refinery in the Virgin Islands and some European refineries — supply product to the East Coast.

So why are these refineries closing?
Basically, despite the very popular image of perpetually fat profits for the oil companies, the refining business has been historically poor. If a refinery often operates in the low single digit rates of return — or as has frequently been the case, loses money — oil companies will eventually shut them down. Even if other parts of the business are making money, they won't keep funding a money loser.

But why do refineries struggle with profitability?
In recent years, demand for gasoline has been down due to high prices in the U.S. As oil prices have climbed, refiners have struggled to pass on all of the increased costs of those higher oil prices to consumers. They would like to sell gasoline for a bit more, but the reduced demand keeps their margins low for the most part. Ultimately some are forced to shut down. That will also mean higher gasoline prices for consumers:

No relief in rising gasoline prices as refineries shut down

"On January 18, Hess announced the closure of its HOVENSA joint venture refinery in the U.S. Virgin Islands, a major source of product supply to the East Coast," the Energy Department said. "That planned closure follows on the heels of the idling of two refineries in the Delaware Valley by Sunoco and ConocoPhillips and announced plans by Sunoco to idle another refinery in the region by mid-2012." The Energy Department added, "The complete idling of the three refineries would collectively cut as much as 50% of current East Coast refining capacity".

Operating a Refinery Requires Manpower and Creates Jobs


In addition to higher prices, the closures mean loss of jobs in a very tough economy. As I pointed out recently in What's So Bad About Exporting Gasoline?, one way to keep those refineries going is something that some have complained about, and that is for refiners to export finished products. It should be clear by now that these refiners must find additional markets (or cheaper oil) if they are to survive.


These thoughts were rattling around in my head the past few days, and just today crystallized into this post. One of the things I have been thinking about are the implications if the Keystone Pipeline is or isn't built. I have explained my views on the pipeline in a series of recent posts, so I won't rehash them here. But basically, I have tried to sort out the most likely implications in either case. If the pipeline isn't built, will it slow down the development of the oil sands in Canada? Will that oil continue to get to market, but in environmentally riskier ways (like trucking or rail). Will it cause Canada to more aggressively seek other markets for their oil? Probably:



With oil pipeline to US on hold, Canada eyes China

Prime Minister Stephen Harper says Canada's national interest makes the $5.5 billion pipeline essential. He was "profoundly disappointed" that U.S. President Barack Obama rejected the Texas Keystone XL option but also spoke of the need to diversify Canada's oil industry. Ninety-seven percent of Canadian oil exports now go to the U.S. "I think what's happened around the Keystone is a wake-up call, the degree to which we are dependent or possibly held hostage to decisions in the United States, and especially decisions that may be made for very bad political reasons," he told Canadian TV.


The article notes that pipelines are rarely rejected in Canada, but Keystone opponents are counting on that oil not being able to reach the Pacific Coast for export to China. After all, if it does then they will have made matters worse by blocking the route into the U.S. and forcing the oil to travel a further distance to market.


The Keystone Pipeline is of course really about climate change. Opponents want to stop the expansion of the oil sands, and so they have thrown several wedge arguments out there in order to reach their ultimate goal.


Conclusion: Exporting a Product is Good for Business*


One of the wedge arguments is about job creation. Proponents have made certain claims (in many cases inflated) about the number of jobs that will be created. Opponents counter that there won't be that many jobs created, and besides some of the oil is going to be exported.


That may be the wrong way to look at it. If you see what is happening with the refinery closures, what a pipeline to the U.S. Gulf Coast may do is keep some of the refineries there in business. Imagine if these East Coast refineries — which don't have easy access to affordable oil — were at the end of the Keystone Pipeline. They might have managed to stay in business. Sure, they might export some of the gasoline and jet fuel. So what? Will the product simply not exist on the open market if those refineries didn't make it? Not likely; it would just be refined by someone else.


So we may look back in a few years — as we are closing down Gulf Coast refineries because their major source of oil is ever more expensive crude from the Middle East and Venezuela — and realize that those jobs could have been saved if only they had better access to a friendly, stable supply of oil. So what if we import Canadian oil and export gasoline? In an oil crisis, we won't export the gasoline. We will use it right here at home. That is, if the refineries actually have access to the crude.


* Incidentally, now that the ethanol subsidy has expired, I feel the same way about exporting ethanol. If that's what it takes for them to stay in business, as long as they aren't exporting taxpayer subsidized product then more power to them.

This is no different than the Beef industry exporting beef out of the country to Japan, China, or South Korea to get the higher prices for stuff the US consumer will not eat, to help pay for the production of the lower cost meats the US consumer will eat. The money to cover the true cost of production has to come from somewhere. If the US consumer is not going to pay for it, somebody has to. The industry, in this case the Oil industry, has to watch out for their bottom line if they are going to keep the doors open and supply a product at a cost the US consumers will pay.

Edited to add the rest of the article about XL pipeline. and link

http://www.energytribune.com/articles.cfm/9727/Refinery-Closures-Lead-to-Rising-Gas-Prices-and-Job-Losses

 

[Steve]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.
You know I hardly ever watched Fox news but now that O'Reilly seems to be coming around a little bit I'll probably tune in a little more often. Who you guys gonna start watching???

O'Reilly degree is not in economics obviously..

but here are a few things to consider as US economic benefit.

if the pipeline is built, it will create jobs..

it will bring raw material in at a reduced cost.

it will create revenues for US corporations..

and once the product is refined and ready for sale, it will add supply..

now for the biggie .....

the cost of the shipment alone would mean a US consumer purchase price will be below a world market price.. .

a corporation factors all this in and more when selling the product..

so far I have not seen one real economic negative aspect of the deal

 

[Mike]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.

I don't believe O'Reilly is stupid enough to say something like this. :roll:

 

[hypocritexposer]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.

I don't believe O'Reilly is stupid enough to say something like this. :roll:

Here's what was said:

http://video.foxnews.com/v/1463268849001/

 

[TSR]

First hypo O'Reilly said all this,you know the king of "fair and balanced" Fox News. I don't recall him saying that he wanted it sold for less than it would cost to get it on the market. I think he just wanted it to be sold for less than than the world market price and keeping it in the US.

I don't believe O'Reilly is stupid enough to say something like this. :roll:

Why wouldn't you Mike, you've already said he's an idiot. Yep he's an idiot even thought tonight Fox news said he had the #1 cable news program for 12 yrs. straight. Darn all those idiots, some are probably even located in Alabama. :wink:

 

[TSR]

I don't recall him saying that he wanted it sold for less than it would cost to get it on the market.

O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price

The oil transported by the XL would be world market priced, before it hits the refinery.

Refining it adds value. You wouldn't want to then sell it for less than world market price.

Why not? Its coming across my land,its being refined in my country. Over the last say, 40 yrs. my country's people have made the Exxon's of the world rich. Do they not have any allegiance to the country that made them what they are??

 

[hypocritexposer]

I don't recall him saying that he wanted it sold for less than it would cost to get it on the market.

O'Reilly said the oil refined as a result of the XL pipeline (should it ever be completed) should stay right here in America to be sold here at a price cheaper than the world market price

The oil transported by the XL would be world market priced, before it hits the refinery.

Refining it adds value. You wouldn't want to then sell it for less than world market price.

Why not? Its coming across my land,its being refined in my country. Over the last say, 40 yrs. my country's people have made the Exxon's of the world rich. Do they not have any allegiance to the country that made them what they are??

so you want them to go broke, so you can continue to buy from one of the Nationals like Petrobas, good thinking

And after that, you'll be advocating for obama to give them a bailout

 

[TSR]

So by helping America in its time of need means they are going to go broke??? They, at least EXXON by the news reports the last few years have been the most profitable corporation in the history of the world. Its time for them to help the country that made them what they are.

 

[Mike]

So by helping America in its time of need means they are going to go broke??? They, at least EXXON by the news reports the last few years have been the most profitable corporation in the history of the world. Its time for them to help the country that made them what they are.

So what about the folks who have invested in the Exxon stock?

If Exxon makes less profit per share the stock price will tank and the shareholder will be left holding the bag. His retirement would be worth less.

And don't think that only the "Rich" people own Exxon stock. Just about every mutual fund is invested in oil & oil company stock.