Eric Schleien

Big Oil Once Again Abused by Congress

Re: Ethanol

Ethanol is inappropriate and irresponsible to use. The return on energy invested is downright awful and it's horrible for the enviroment as fossil fuels still pollute the air. It's also not appropriate to have a countries energy supply compete with their food supplies. We simply do not have enough farmland to support our population.

RE: Canuck Investor

Many oil companies are struggling to maintain their reserves. Nationalized oil companies such as the one in Saudi Arabia have done an awful job letting excess water into the oil fields and letting much natural gas escape which is wasted energy. It's the same reason Pfizer won't put lots of money into super high risk drugs -- that's left to the small pharma firms. The E&P firms as a whole are in a more risky and volatile business as their success relies on finding new reserves and for the very micro-cap firms finding oil in the ground at all. If there was a monetary incentive the oil companies would do it. The facts are yields have gone down on oil fields and it takes more and more money and is harder and harder to pump oil out of the ground. The "gusher" is hard to find these days as we now need to force out heavy crude compared to the easy to find light sweet crude.

RE: Nationalizing Reserves

Mexico and Venezuela were cited. Also note Saudi Arabia.