Home Forums Hunting & Shooting Hunter's Campfire Obama wants to increase US oil production

OIL PRODUCTIONS
Er, Mr. President...if you want to increase production, why is congress working on a bill to override your drilling ban?

Fixed it.

Obama is all about drill baby, drill.

He said that when he was in Brazil right after forking over 1.7 bil to help expand their oil production. Kinda confuses me why the US govt gave Petrobras the money in country that's almost energy independent.

Yep. Drill baby, drill. Right here in the US. He keeps saying that anyways.

Lying sack-o-schit.

Obama want reelection for Obama. All roads lead to this.

While everybody is saying we should drill for more oil, I say it's not the answer most people believe it is. Right now the price of gas in our town is $4.00. Everbody knows there is NO SHORTAGE OF OIL! The fact is, the guys that will be drilling new wells, are the same guys that are controlling the price of oil and gas now. So if they drill more wells and hence more production, they will cap wells and control the market just as they do now. Their is no way you can force them to overproduce and lower prices. Thay will play the same game they have been playing for years. The fact is; big oil is just to damn big. They need to be broken up into many smaller companies who just maybe would have to compete. They are all sleeping together and controlling ther market. All tax subsidies should end immediantly and a windfall profits tax should be levied against them. These guys make the Mafia look like the Boy Scouts. JMO

George Soros is heavily invested in Petrobras, but that's a complete coincidence.

Oil isn't up because of supply and demand. The entire run in oil is a mirror image of the decline in the dollar. Same as all the other major commodities.

Actually luke you are so wrong I don't know where to begin. You have evidently fallen for the media trap and have no knowledge of basic economics. Its sad really as so many mis-informed people out there could really use a few lessons in how this works.
Later though, no time this morning.........

The price of any commodities is dictated by Wall Street and what other countries in the World are willing to pay it. The oil companies are a business and they stay in business by making as much money for their stock Holder as possible. This is how free enterprise works. If i was CEO of the Oil Companies i would be doing the same thing. The more money a company makes the more people will invest in it. The price of any type of energy has no place to go but up. I hate the price of fuel and like everyone else , i will either pay it or i will have to stay at home. The country is in trouble when a lot of people work all week and make just enough to fill their car up so they can get to work and make just enough for another tank of fuel. The decline of the US Dollar and the Euro has driven up fuel prices

You really need to study more before you spout off that kind of nonsense. I'm a guessing you lean to the far left.

Wow. I didn't realize economics 101 had changed so much. Back in the day, I was under the (obviously wrong) impression that supply & demand had some influence on the price of goods. Now you tell me its simply a lack of govt control.

I stand corrected..........

Believe me i despise Obama and everything he stands for, but no US President can control the price of Crude Oil

Luke says he can, just break em all up. The we can be just like South American state owned oil.

This is the same argument that the progressive fascist like Obama are using to distract attention from their failed socialist policies.

Big oil is big because that business takes a lot of money. Look how Shell had to eat billions of dollars in oil exploration after Obama's "quest for increased oil" denied them a permit. Everything they do requires a huge amount of money and there is no way a little company could do what they do.

How do you explain that the oil companies are not all that profitable. They earn huge sums, but they have a lower rate of return than many other industries. The profitability of a company is the rate of return it provides on investments and that is the key factor investors look for.

The oil industry already pays huge taxes. They generally pay more taxes then they earn in net profits. Hardly the what you would expect from mafia. Maybe you should provide evidence of their mafia like actions. I doubt their is anything other than your anger at higher oil prices.

The rise in oil prices reflects the upheaval in the middle east which could threaten the supply of oil, the rise in prosperity in much of the third world (India and China) which will increase demand significantly. In addition, Obamas destructive policies towards the oil industry threaten the supply of oil in the USA. He has state that he wants the price of gas in the USA to match that of Europe which at the time was $7 a gallon and he is working hard to achieve that goal. He worked hard to increase the damage caused by the oil spill in the Gulf so he could shut down offshore drilling. Furthermore he has worked to prevent drilling in every way possible. Given this environment it is no wonder that the price of oil is rising.

So I am sure that you can provide evidence to support your claim that there is no shortage of oil. and that the oil companies control the price of oil. So where is it?

Hey Conrad, I just saw your post,,,, did you write anything???

Here in New York companies have been drilling for natural gas for years. I remember hunting near Wellsville ( I think Gabby Hayes was from there too) and you could hear them drilling in the distance. They would find gas and then cap the wells. There is enough matural gas under NY to light it up for a 100 years or more. Goobermint won't let them...

If you think that big oil is your friend, I completely disagree. I think they are entitled to good profits, but they are in the gouging business. They have made hundreds of billions in profit and say they need tax breaks,BS. I'm all for free enterprise, but these guys are over the top. They are making obscene profits on the misery of every person and other business in the country. I make no bones about being a Democrat, what in the hell does that have to do with anything. Big oil is ruining this country.

The President can influence the price, but he can't control the price dictated by World Demand for Crude. In my opinion the President can make oil prices rise much easier than he can make them come down.

Look again pal. Liberals/socialists and bunnyhuggers are ruining this country.

May be time for the car makers to produce some of the CNG run cars. Lots cheaper at this time to run on CNG.