mixter

Houston to Obama: Smell the Oil

So, what is wrong with large profits if they are earned legally? Anyone who would admit to being a "dim-wit-O-crat" is an idiot, so what do I care what you think? I would just as soon want to know what Fidel Castro thinks!

Petrobras: Set to Become a Global Oil Major - Barron's

NEWS FLASH!

The eleventh annual report of Amerada Corporation (now Hess) shows a loss for 1931, of $1,701,647.81 Net production of crude oil was 5,145,386 barrels.

The average price of crude oil in 1931 was $0.60 against $1.23 in 1930.

"General conditions in the oil industry are still far from favorable, but progress has been and is being made toward bringing about a healthy balance between supply and demand, particularly in the producing branch of the industry. There is no reason to believe that the acute over-production of crude oil existing during the last few years will be a permanent condition and your directors are confidently looking forward to a not very distant day when a low cost producer of crude oil can make a satisfactory profit.

(The above was copied from an actual Amerada annual report).

Where in the hell were the liberals with "Big Government" bail out programs? No where, thank God! Amerada managed to work its way through a tough period by the grace of good management, guts, determination, and the ultimate salvation, WW-ll. Of course, FDR would have liked to have taken credit for this, along with ending the depression, never mind the war economy!

Does Big Oil's Apathy Justify Proposals to Tax Windfall Profits?

Oil companies are in business to make legal profits for their shareholders. They are, just as their names imply, oil companies, not social responsibility, "do gooder" companies (although they do a lot of good of their own free will through contributions to charity and community projects). The owners of oil company stocks, union, teacher, and various retirement funds, in addition to millions of individual owners, would be very upset if a company's management strayed away from its basic business to develop alternate energy resources, when the financial return was not promising now, or in the future.

If "Big Oil" has such tremendous power to control oil prices, why haven't they done so in the past?

The world was awash in oil in the 50's. Oil companies were having gas wars, putting air in tires, washing windshields, checking the oil, giving green stamps and free glass ware in an attempt to obtain business. In my graduating class of 132 geology majors, only two were offered jobs in 1958.

The oil bust of the 1980's resulted in over 600,000 people losing their jobs and hundreds of oil related companies going out of business.

Does this sound like something that was being controlled?

Oil and Gas Sector Looking Stronger - CreditSights

Get rid of the "dim-wit-o-craps" and "RINO'S" who are opposing drilling in ANWAR and the outer continental shelf, plus deriving oil from shale on federal lands. Their opposition to nuclear and coal fired electric generation plants is stupid, but then fools are not known for their intellect! Global warming may be occurring but it is due to mother nature. Sun spots (hydrogen flares on the sun) are mainly responsible for the earth's temperature. Water vapor is the main "green house"gas. What can mere man do about this? Nothing, except to utilize pseudo science so snakes like Al Gork can get rich off preying on dumb people.

The Triple Play: Oil Addicts, The Credit Crunch and Deflation

As a fourth generation "oily", and a graduating geologist in 1958, no one was concerned that the world was awash in oil, and only two graduates out of my class of 136 were offered jobs. Subsequently, in the early '80's, the oil bust resulted in over 600,000 people losing their jobs, and hundreds of oil related companies going out of business.

The owners and top executives of the surviving companies had to make many hard decisions in order to survive. None of our politicians, or the general public were the least bit concerned, as long as the could obtain cheap energy and petroleum derived products.

Now that times have changed, "Big Oil" should be punished according to the warped logic of the pandering politicians and ill informed public.

This is tantamount to killing the goose that has laid many golden eggs that have enabled the civilized Western world to build great countries, and raise the standard of living for most of the people of the world.

If finding, producing, transporting oil and gas, refining, getting the end product to market is so easy and lucrative, why doesn't every one get in the oil business. All it takes, in most instances, is millions of dollars to speculate on leasing, drilling, and completing wells (assuming you are fortunate enough to find hydrocarbons in commercial quantities, instead of being liable for plugging a dry hole).

Better yet, why doesn't every one invest in oil company stocks?

After all, the oil companies only have to evaluate geological prospects, negotiate leases with mineral owners (whether they be individuals or foreign governments that can change the "rules" overnight), figure out how they can prepare the drilling site (whether it is located in deep oceans, swamps, mountain sides, deserts, or populated areas), comply with numerous rules and regulations, make arrangements to drill, evaluate the geological formations encountered during drilling operations, complete the well, install production facilities to separate oil, water, and gas (make arrangements to safely dispose of the produced salt water), and transport the hydrocarbon to market. Then comes the hundreds of millions of dollars worth of investment to design and build refineries that are efficient and comply with numerous EPA, and OSHA regulations (even if permission is granted).

Oh yes, "big oil" has it made. All it has to do is pick the low hanging fruit that abounds all around!

Better yet, let's just kick their asses, it will make us feel better even if only reduces supply and raises prices!

Encana Set to Grow as Natural Gas Prices Rise

If Canada wasn't so damn socialistic, with regressive and repressive taxes, I would greatly increase my holdings in Encana.

As a stock holder, I am not impressed with expensive "bricks and motor" edifices. Please spend my money drilling more wells!