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The King rewards his oil buddies

Whitewing

Well-known member
Gasoline prices hit a historic high

http://www.csmonitor.com/Business/2013/0211/Gas-prices-hit-a-historic-high-What-s-driving-them-up?nav=87-frontpage-entryNineItem

A combination of high crude prices, refinery shutdowns, and early speculation has sent gas prices soaring to seasonal highs earlier than usual this year, with no signs of prices at the pump falling until spring, according to recent estimates.

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And here I thought he'd lower the price of gasoline along with sea levels. :lol: :? :???: :???: :???:
 

Whitewing

Well-known member
Mike said:
Let me guess........................

Bush or Cheney? :lol: :lol: :lol:

11 May 2008
OldNeverLetAGoodConspiracyTheoryGoToWaste said:
The blogs and pundits are getting a good laugh over this GW idea of sending Cheney to try and get lower oil/gas prices ...Another Fox sent to guard the Henhouse ...
Its being pointed out that Cheney (who was a former corporate CEO with oil holdings) is the father of GW's energy policy- after having supersecret meetings with all the Oil executives (including their buddy Ken Lay )- meetings that resulted in what many feel was a policy written by the Oil execs, for the benefit of the Oil Companies-- and of which Bush/Cheney refuse to release the minutes or notes of

This GW administration policy that took gas prices from $1.40 a gallon in 2000 at the start of GW's term to $3.20 a gallon now - and that has resulted in the major Oil Corporations reporting record high earnings with record high salaries/bonus's for their CEO's (all old Cheney buddies) ...

:lol:
 

Mike

Well-known member
Whitewing said:
Mike said:
Let me guess........................

Bush or Cheney? :lol: :lol: :lol:

11 May 2008
OldNeverLetAGoodConspiracyTheoryGoToWaste said:
The blogs and pundits are getting a good laugh over this GW idea of sending Cheney to try and get lower oil/gas prices ...Another Fox sent to guard the Henhouse ...
Its being pointed out that Cheney (who was a former corporate CEO with oil holdings) is the father of GW's energy policy- after having supersecret meetings with all the Oil executives (including their buddy Ken Lay )- meetings that resulted in what many feel was a policy written by the Oil execs, for the benefit of the Oil Companies-- and of which Bush/Cheney refuse to release the minutes or notes of

This GW administration policy that took gas prices from $1.40 a gallon in 2000 at the start of GW's term to $3.20 a gallon now - and that has resulted in the major Oil Corporations reporting record high earnings with record high salaries/bonus's for their CEO's (all old Cheney buddies) ...

:lol:

Thanks. I really needed something ridiculous & ignorant to read this morning.

Meanwhile, some of Buckwheat's cronies are resigning and taking credit for "Cheney's" previous Energy (Oil) policies. He even claimed to have written that Bill.
Even before becoming Secretary, as a member of the Energy and Natural Resources Committee, Salazar helped lead the passage of the 2005 and 2007 Energy Policy Acts -- one of the most significant and comprehensive energy bills in decades. The 2007 Farm Bill which Salazar also helped lead included key energy provisions.

Read more: Salazar resigns! What's next for energy? - FierceEnergy http://www.fierceenergy.com/story/salazar-resigns-whats-next-energy/2013-01-23#ixzz2Kh2Y9xcN
Subscribe: http://www.fierceenergy.com/signup?sourceform=Viral-Tynt-FierceEnergy-FierceEnergy
 

Whitewing

Well-known member
Posted by OldHighOctaneBreath back in June 2008 when high gasoline prices and oil company profits really bothered him.

...Campaign for Change staff and volunteers will be approaching motorists who, according to AAA, will be paying an average of $4.19 per gallon for regular unleaded, and $4.67 per gallon for diesel, and make sure that they are registered to vote in November in order to elect a candidate who has put forward real plans to address this critical issue....

"Montanans are rightfully angry that they have to shell out over $4 a gallon for gas to get to work because John McCain and George Bush have chosen to protect the oil companies' record profits instead of reducing our dependence on foreign oil," said Mike Dorsey, Obama's State Director in Montana. "We are going to be out at gas stations talking to drivers about Sen. Obama's plan to address this critical problem and get them registered to vote."

Campaign for Change Staff :lol: :lol: :lol:

I'm sure he'll be along soon (complete with knee pads) to explain that today's high gasoline prices really aren't all that high because the dollar has tanked so much. :D
 

Mike

Well-known member
"Campaign For Change" worked like a charm. Fooled a bunch and got their votes. Didn't it?

About 50% of the people here are true imbeciles. :roll:
 
A

Anonymous

Guest
It will not change until Congress agrees on a long term energy bill- which is the only way they will get any investment in further refineries and infrastructure...

Its still a lot better than the $4+ we were paying in 2008- when old cows were selling for $50 cwt and calves were $1...
I filled up a week ago and the price was $3.09- and cows this week are selling for $80-85 Cwt and 550 calves were selling for $1.70 cwt..

Going to take advantage of it and haul some old breds to the ring this afternoon for the upcoming bred cow sale...
 

hopalong

Well-known member
Oldtimer said:
It will not change until Congress agrees on a long term energy bill- which is the only way they will get any investment in further refineries and infrastructure...

Its still a lot better than the $4+ we were paying in 2008- when old cows were selling for $50 cwt and calves were $1...
I filled up a week ago and the price was $3.09- and cows this week are selling for $80-85 Cwt and 550 calves were selling for $1.70 cwt..

Going to take advantage of it and haul some old breds to the ring this afternoon for the upcoming bred cow sale...


I guess you are referring to the $4.00 gas that was in June 2008

and not the $1.99 gas that was available in Oct 2008...or Dec 2008 whenb gas went to the lowest prices in well over 4 yrs,,or Dec 31 when it went to a 5 yr low????? is this the way you see it oldtimer or are you gonna beat the $4.00 a gal price EH???? fess up old man thinbgs are not really that good when you facter in the cost of feed processing,,,or the cost of a new set of tires up 62 % since 2008... How many old breds are gonna cover that increase??? booze has gone up 83% since then.....guess you can afford it since you are selling off like crazy :wink: :wink: :wink:
 

TexasBred

Well-known member
Oldtimer said:
It will not change until Congress agrees on a long term energy bill- which is the only way they will get any investment in further refineries and infrastructure...

Its still a lot better than the $4+ we were paying in 2008- when old cows were selling for $50 cwt and calves were $1...
I filled up a week ago and the price was $3.09- and cows this week are selling for $80-85 Cwt and 550 calves were selling for $1.70 cwt..

Going to take advantage of it and haul some old breds to the ring this afternoon for the upcoming bred cow sale...

Companies are chomping at the bits to expand refining capacity. Unfortunately regulations are killing any chance of it happening. BTW OT I filled up a couple weeks ago and it was $3.059....today it is #$3.419.


Staying with refineries, the need for pipelines is more pronounced in the Gulf coast. The refineries in the Gulf coast contribute about 45 percent of the refining capacity, and 30 percent total crude oil production in the US. Of late, the imports have declined in the Gulf coast, thanks to drilling in the Eagle Ford Shale in Texas and Bakken shale in ND. Unsurprisingly, import of the more expensive light sweet Nigerian crude stood at 150,000 b/d in January, the lowest since 1996. (For the corresponding period, there's decline in the import of Nigerian crude to the East coast too.) Yet, imagine the figure with more pipelines in the region. Yes, the crude from Eagle Ford from Texas has started to arrive in the Gulf coast. However, the crude is sweet light. Most of the refineries in the Gulf Coast are more sophisticated, designed to process heavy and more sour crude. As investment to refine the lighter sweet crude is expensive, the only option for the refineries is to blend the different crudes. The irony.

Meanwhile, woes of the refineries in the East coast continue. Two have already closed, and the rest of them are barely managing to scrap through. These refineries are dependent on imported crude as they don't have easier access to cheaper West Texas Intermediate crude. Hence, they continue to import the expensive Brent crude. There are plans to transport oil from North Dakota to the East coast by rail, but when?

Although a continuation of the import story, the scene is slightly different in the Midwest. The refineries here are enjoying higher profits, credit to generous supplies from Canada and domestic oil. Imports from Canada reached 1.76 million barrels a day in the first quarter of 2012, an increase of almost 22 percent from last year (Source: EIA). Unsurprisingly, Canada is the largest supplier of crude to the US followed by Saudi Arabia.

Recently the Port Arthur refinery underwent expansion to almost double its daily capacity. So, why do refineries expand rather than build new ones? It's easier because of the environmental regulations. The apparent lack of logic in not having refineries does get answered when you take the environment under consideration. Refineries gobble up water, not to mention vast tracts of land, and contribute loads of CO2 to the air, as well. So, environmental regulation tends to be hard for anyone interested in refineries. The EPA regulations are also strict on the sulfur content Light crude is easier to process, has lower sulfur content so it's easier to get the environmental nod. Heavy sour crude, on the other side, has more sulfur and is more difficult to process. Sunoco Inc. is said to have lost $ 1 billion in the last three years, attempting to upgrade in accordance with the stricter EPA regulation.

Will the picture change? Everyone wants refineries, just is someone else's backyard. The new EPA regulation for new refineries scheduled to be released this November has been deferred because of the Presidential elections. How is it going to pan out? Mitt Romney is all for more drilling. He wants to drill "virtually every part of U.S. lands and waters" but is silent on his take on refineries. For his part, Obama is for 'energy independence' but with his strict environmental laws, no refinery is going to come up anytime soon. The situation is precarious. The demand isn't expected to rise anytime soon. EIA has lowered the forecast of oil consumption in 2012 and 2013.

Any destruction due to accidents (like the recent fires), weather conditions, and maintenance would affect the supply with immediate effect. For instance, the recent fire in the Chevron refinery at Richmond, California disrupted almost 16% of the supply in the region. Abundant reserves, yet prone to import fluctuations- which country would want to continue in this position?

If the refineries aren't taken care of, the dream of cheaper crude would continue to be a dream. That would be sad with the present domestic resources.
 

Whitewing

Well-known member
Oldtimer said:
It will not change until Congress agrees on a long term energy bill- which is the only way they will get any investment in further refineries and infrastructure...

Its still a lot better than the $4+ we were paying in 2008- when old cows were selling for $50 cwt and calves were $1...
I filled up a week ago and the price was $3.09- and cows this week are selling for $80-85 Cwt and 550 calves were selling for $1.70 cwt..

Going to take advantage of it and haul some old breds to the ring this afternoon for the upcoming bred cow sale...

I'm with TB on this one. If when you say "long term energy bill" you're referring to exploration and production related matters, then it won't have SQUAT to do with the building of new refineries.

The refinery biz is a completely different animal and I suspect the lack of refineries is more a function of the difficulties of overcoming US environmental regulations (that means making a profit after jumping through all the gubmint hoops). From what I recall with the little I was exposed to refinery operations, higher prices, and a lack of stability in oil prices significantly impacts the bottom line in a negative way.

Now that it's difficult for you to shamelessly blame Bush for everything evil and wrong in the US, you've taken up blaming "the Congress" while totally ignoring the King's total lack of leadership on this important issue.

Try barking up another tree.
 

hopalong

Well-known member
we will just have to wait and see just how well britzmans old culls sell for till the next market report...
in the mean tiime this is last weeks,,,not seeing the prices DICK is quoting as an average,,,an well know his cattle are not really average :roll:

http://www.glasgowstockyards.com/php/marketreport.php
 

loomixguy

Well-known member
OldtBlowsItOutHisButtBothWays said:
It will not change until Congress agrees on a long term energy bill- which is the only way they will get any investment in further refineries and infrastructure...

Its still a lot better than the $4+ we were paying in 2008- when old cows were selling for $50 cwt and calves were $1...
I filled up a week ago and the price was $3.09- and cows this week are selling for $80-85 Cwt and 550 calves were selling for $1.70 cwt..

Going to take advantage of it and haul some old breds to the ring this afternoon for the upcoming bred cow sale...

Just paid $3.959 for road diesel this afternoon...unleaded is at $3.579. But I suppose that is just fine with you since cattle are worth more now.... :roll: :roll: :roll:

Are naturally stupid, or do you have to work at it?
 

hypocritexposer

Well-known member
In Montana, people are living "high on the hog", because of their "Long term energy plan".

It's the Palin plan, "Drill, Baby, drill"

OT likes Palin's ideas.
 
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