Gas soars; voters whine; oil profits boom; politicians pander
From the Wall Street Journal (subsc. req.):
Booming crude-oil prices and improved refining profits are poised to put a firecracker under Big Oil’s first-quarter earnings and set the stage for a year that could come close to rivaling the industry’s record year in 2008.
First-quarter crude prices averaged about $100 a barrel, or about 20% higher than a year ago, pushed upward by oil-supply concerns due to political unrest in the Arab World and a recovering global economy. That spike is expected to lift earnings by about 50% at Exxon Mobil Corp., and about 33% each at Chevron Corp. and ConocoPhillips, compared with a year earlier….
“Major oil companies are firing on all cylinders,” says Fadel Gheit, an analyst with Oppenheimer & Co. “Their first-quarter earnings are going to be much, much better than a year ago.”
If oil prices continue to climb, they could at least rival 2008. That year, U.S. producers reported astronomic profits as crude hit $147 a barrel for a time. Exxon that year earned $45.2 billion, more than any other U.S. publicly traded company in history.
And of course, those numbers don’t become any easier to swallow when you consider the $4 billion in subsidies that the American taxpayer coughs up each year on behalf of Big Oil. Efforts in Congress to eliminate those subsidies have failed because Republicans have cast the reform as a tax hike. So even in the midst of a deficit panic, government is required to keep on subsidizing one of the most profitable industries on the planet, a practice defended by the party that proclaims itself the champion of the free market.
Intellectually, the current situation is not that complicated. People are demanding more oil than the market can supply — an economic recovery is boosting consumption at the same time that disruptions in the Arab world threaten oil output. So the price is jumping.
However, that market-driven fact of life is hard for people to accept. With the price of gasoline approaching $4 a gallon — close to the record average of $4.11 in 2008 — consumers don’t want an explanation, they want a solution. And politicians in turn are motivated to give them one, or at least the illusion of one.
Republicans, for example, want to cast government, and more specifically the Obama administration, as the villain. They propose that the federal government drop environmental restrictions and open additional areas to oil exploration and production, suggesting that such steps will lower the price at the pump. But among energy experts, there’s really no debate. Even if we removed all environmental restrictions on domestic oil production — and last summer’s Deepwater Horizon tragedy in the Gulf suggests such a step would come with a heavy price — the amount of additional oil that could be produced in the United States would be too small to move the global market, where the price of oil is set. We may not like to acknowledge that fact — it drives home our relative helplessness — but it remains fact nonetheless.
(And of course, every additional barrel of oil pumped from beneath American territory today makes us even more dependent on foreign oil tomorrow.)
For his part, President Obama is following the futile course set by his predecessor. Last week, he announced a federal investigation into the role of speculation in driving up oil prices, just as President George W. Bush did in 2005 and 2006. Those investigations turned up little or nothing, as will this one. But politically, it gives Obama an alternative villain to whom he can point, which in his situation is important.
The uncomfortable truth is that because the need for oil is so ingrained in our economy and lifestyles, oil prices have to move a lot in order to produce even a slight decrease in demand. They have to rise high enough to make it hurt before people will curtail consumption.
So … are you hurting yet?
– Jay Bookman
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824 comments Add your comment
getalife
April 25th, 2011
11:39 am
“I know Barry is an evil Marxist Kenyan.”
No, that has changed.
No he is a lying fascist according to lil w bailout..
Try to keep up.
Paul
April 25th, 2011
11:41 am
Lydias Dad
“The so-called “fuel-efficient” vehicles are so ridiculous expensive it would take decades to break even given the cost of gasoline”
You may want to check the Ford Fusion, Prius, Escalade, Toyota Camry, etc.
The price premium is a bit less than ‘decades.’
Normal
April 25th, 2011
11:43 am
Well,
We could bring back the Gas Ration Cards that we had during WWII.
That would solve some of the problem, but a lot of you anti-gov types would holler…now wouldn’t you?
Fletch
April 25th, 2011
11:43 am
Gas would have to get to around $10.00 a gallon, and then I’d probably take the Prius out of storage for when I’m in Atlanta. However, I still need the enviro killer for commuting between middle and northern Montana. Unfortunately, there’s really no good alternative to gas power when the temperature gets down to about 30 below with 5 foor snow drifts.
Common Sense
April 25th, 2011
11:43 am
I don;t mind paying 100 dollars for gas. But you’ll be paying that car note, higher insurance, and higher tags whether or not you are saving that $30 a week.
Thanks for making the sacrifice for the rest of us that actually get how it works!
President Hussein
April 25th, 2011
11:44 am
Getalife, so Barry HAS changed out the engines of his limo, planes, and copters to hybrids, huh?
Paul
April 25th, 2011
11:45 am
Common Sense 11:38
And we can thank our politicians. Don’t know if the subsidy/tax break/welfare program’s still in place, but last I knew taxpayers were giving money to oil companies to encourage them to to refine certain types of diesel to encourage its use. They took the money, then shipped most of the fuel to Europe, where it would command a higher price.
I don’t think the Congressmen and their staffers are that dumb, or so lazy that once they discover the loophole they would not act to close it. But….. who benefits? Not us.
jm
April 25th, 2011
11:45 am
By the way, a question of sorts for those just advocating for no energy policy whatsoever. Would you rather give your money to the US government, or to Saudi Arabia? Because that’s really your choice, and its not a 0 sum game.
Economically speaking, it would be far better to give more gas tax revenue to the US government with an offsetting reduction in income taxes, rather than exporting our $’s to S.A., Mexico, Canada, etc.
Common Sense
April 25th, 2011
11:45 am
Thank God we have the EPA looking out for us:
Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. The move has angered some in Congress and triggered a flurry of legislation aimed at stripping the EPA of its oil drilling oversight.
Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas. The leases alone cost $2.2 billion. Shell Vice President Pete Slaiby says obtaining similar air permits for a drilling operation in the Gulf of Mexico would take about 45 days. He’s especially frustrated over the appeal board’s suggestion that the Arctic drill would somehow be hazardous for the people who live in the area. “We think the issues were really not major,” Slaiby said, “and clearly not impactful for the communities we work in.”
Read more: http://www.foxnews.com/us/2011/04/25/energy-america-oil-drilling-denial/#ixzz1KYB2Bp6G
Left wing management
April 25th, 2011
11:45 am
Gas soars … and Lil’ Barry Bailout bores ….
pffft …
President Hussein
April 25th, 2011
11:46 am
No slogans AmVet??? Might want to change your screen name…now go back to chain smoking while your waiting in line to see your pulmonologist at the VA
JKL2
April 25th, 2011
11:46 am
TaxPayer- I see lil BB is still worshipping an idiot.
You have Messiah envy…
getalife
April 25th, 2011
11:46 am
As a proud Independent with no ideology, I see the President is not the change but a start of the change.
We have electric cars and other alternative cars.
He wants to keep the change going by investing in alternatives.
The gop will fight this change for big oil so it is up to the American people to vote to keep the change going or go back to no change at all.
TaxPayer
April 25th, 2011
11:47 am
I’m gonna quit gasoline when it hits $10.00 a gallon, yep, that’s my limit except maybe I’ll pay $15.00 as long as I can get better mileage but then I might be okay with $20.00 but only if it is due to inflation but I’ll only use half as much. Yep, that’s my plan and I’m stickin’ with it.
THE TRUTH
April 25th, 2011
11:47 am
Amvet (NOT) , how can you accuse someone of lying after all you make a false claim with your handle.
@@
April 25th, 2011
11:48 am
Ford Fusion — $20,332 – $29,187
Prius Two thru Five — $23,050 to $28,320
Escalade Hybrid — $71,725 to $85,693
Toyota Camry — $19,820 — $26,675 (Hybrid)
More than we’re willing to pay.
onpatroll
April 25th, 2011
11:49 am
I will not pay a car note. Like i said, the explorer just gets less usage. I bought a bike. Zero trips outside the city until my niece was born. $70 bucks to fill up. I get what your saying just not how you said it. sure a paid for car will be cheaper than buying a new one with more MPG but not forever.
TaxPayer
April 25th, 2011
11:49 am
You have Messiah envy…
Wait a minute. Shouldn’t that be idiot envy.
UGA1999
April 25th, 2011
11:49 am
@@….the Volt?
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
11:50 am
Mystery meat at 11:46,
Quit stalking me, it’s creepy.
At least, take a number and quit butting in line…
real john
April 25th, 2011
11:50 am
“Intellectually, the current situation is not that complicated. People are demanding more oil than the market can supply — an economic recovery is boosting consumption at the same time that disruptions in the Arab world threaten oil output. So the price is jumping,”
Actually Jay, US demand for oil is way down. This has nothing to do with demand. There is actually on over supply of oil right now. BTW, you might want to check the article on CNN and other media outlets. The rise of oil right now is speculators and the corrupt OPEC and Middle East nations CUTTING supply to force up prices. What we need to do, is go in, and demand the Saudi’s and Iraq to cut prices. The US does all of the military work and we get no benefit. I’m with Trump on this on; we should demand (not ask), Iraq to pay us back the 1.5 trillon for liberating their country. That is the least they could do.
The big oil companies have little say in most of these matters Jay.
ByteMe
April 25th, 2011
11:50 am
@@: the government is you, so when you call it “greedy”.
And the average state gas tax is about 27 cpg, so that still doesn’t get you to his number. Just because you saw it on a blog doesn’t make it true.
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
11:51 am
THE TRUTH, grow up.
And admit you’ve been bested by a veteran…
Were you just a little Dick………….Cheney?
Thulsa Doom
April 25th, 2011
11:51 am
People keep saying that the U.S. doesn’t have enough of a domestic supply and that drilling won’t solve the problem. Baloney! Drilling for more domestic oil won’t solve the problem but it sure as heck can alleviate some of the pain until we make the transition to the electric car or natural gas/electric hybrid. I have one question for them- If domestic production has no impact whatsoever then why did gas drop overnight by 10 cents a gallon and then start trending downward when President Bush lifted the moratorium on offshore drilling?
Paul
April 25th, 2011
11:52 am
@@
You can pick up a 1-3 year old of any of those for a significantly lower price, with many years’ life left.
UGA1999
April 25th, 2011
11:52 am
Come on Amvet you are the biggest liar on this board!
Aquagirl
April 25th, 2011
11:53 am
Common Sense
April 25th, 2011
11:38 am
And what they seem to fail to grasp is that all the oil they save, regardless of the cost to do so, will not be available for those that sacrificed to save it.
Since when did hauling one’s fat fanny out of an SUV become a “sacrifice?” Are you wanting the Drama Queen Tiara for the day?
Now, the people who have died overseas to guarantee cheap oil, so you can feel all testosterone-pumped riding to the grocery store in your Urban Assault Vehicle—THAT’S sacrifice.
Gman
April 25th, 2011
11:53 am
Mass transit and carpooling are great ways to save money but to many in the suburbs this must be a sin! Everyday, as I ride the CCT Xpress from Kennesaw to Downtown, the number of single passenger cars on I-75 makes me understand more and more why Georgia is a Red State.
chuck
April 25th, 2011
11:53 am
AMVET, A liberal is a man with 2 perfectly good legs without a leg to stand upon. Chuck
President Hussein
April 25th, 2011
11:54 am
AmVet, Stalking?? Hardly. It doesn’t take a rocket scientist to figure out that a “vet” who spends as much time on the ‘net as you do, spouting the virtues of the VA is a chain smoking govt check collecting fella bored out of his mind at home……:)
Kamchak
April 25th, 2011
11:54 am
Tick…tick…tick….
onpatroll
April 25th, 2011
11:54 am
Doom, if you think 10 pennies will help you’re dreaming.
Thulsa Doom
April 25th, 2011
11:55 am
Have they still not learned that OPEC sets the price for oil?
Typical of Jay and the far left they blame the U.S. oil companies but mention not a word of criticism towards the Saudis and OPEC, or possible Wall Street speculation. Why no blame for the people that really are to blame for setting the price of oil- OPEC. The blame America first crowd in all their cynicism.
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
11:55 am
So back it up, dawgmeat. Put you rmoney where your big mouth is.
Surely a well educated young man like you, can provide proof positive of my many lies.
Either that, or you’re just like all the other Athens rejects here – all hat and no cattle.
I’ll await your exhaustive evidence…
JKL2
April 25th, 2011
11:55 am
TaxPayer- Wait a minute. Shouldn’t that be idiot envy.
Never heard Bush referd to as the “idiot messiah” but since it was OK to call him every other name in the book it won’t hurt to tack another one on.
getalife
April 25th, 2011
11:56 am
“Getalife, so Barry HAS changed out the engines of his limo, planes, and copters to hybrids, huh?”
cons fixate on silly things that will not make a difference.
The President thinks long term and I can’t dumb it down for you so go read about it.
Thulsa Doom
April 25th, 2011
11:56 am
onpatroll,
The price dropped 10 cents overnight and then began a gradual trend downwards from there. Go back and look it up.
chuck
April 25th, 2011
11:56 am
Mass transit is NOT a solution. They are time suckers. You have to wait for THEIR schedule to get anywhere and then have to waste time walking because they don’t go where you need them to go. Great if you are going to a Falcons game, not so great if you have to go somewhere else.
Left wing management
April 25th, 2011
11:58 am
getalife: “As a proud Independent with no ideology, I see the President is not the change but a start of the change.”
I disagree with you about Obama. The notion that we can escape ideology is precisely the ideology that’s most crippling today in my view, and Obama is the perfect example of the futility of this position. By herding ideological antagonists like so many cats, gathering them and trying to extract the best from both, committee-like, ends up being worse ultimately than merely futile. It’s brings out the worse tendencies of both sides. What we need instead is is bold partisanship and confrontation.
AngryRedMarsWoman
April 25th, 2011
11:58 am
“George W. Bush was not a good President. Neither is this one.”
This. Honestly, most poiticians suck, especially at the federal level. Unfortunately the easy part is discovering and declaring that – how to fix the problem and put decent people in power is the hard part. I wonder sometimes if the answer is not as simple as shifting where the power is by recognizing that we have gotten too big to run the way we do and that in order for this country to return to its former greatness we need to dramatically reduce the federal government and return to a more state-based government model. Let the feds focus on providing for the national defense and each of the states handle issues like education, environment, transportation, etc. Of course, I may just be silly and stupid. Happy Monday.
onpatroll
April 25th, 2011
11:58 am
how much you weigh chuck? crying about walking and all.
Thulsa Doom
April 25th, 2011
12:00 pm
The oil run up under Bush
1) The oil companies do not set the price of gas/oil. Opec does. This is not debateable.
2) I remember when gas rose quickly in the Bush administration- I believe it was after Katrina that it temporarily ran up to $5 for a day or a couple days and gradually started dropping. The reason gas rose quickly was due to Wall Street speculation mostly likely from Obama’s largest campaign contributor Goldman Sachs and their buddies on Wall Street. Supply and demand also had a great deal to do with it. Panic and individual gas station proprietors also had something to do with it.
3)When this happened people like yourself, the libs, and the self-righteous blowhards in DC all called for investigations and studies of oil companies for running up the cost of gas. The truth is that before that there had already been 37 different studies done as to whether or not there was any collusion by oil companies to run up the cost of gas. Few of the studies found any evidence of the oil companies running up the cost of gas and the few that did concluded that if there was any collusion at all that it accounted for possibly 1 % of the cost of the gas. And that’s IF there was any collusion.
The rise in the cost of oil was always attributed to either market speculation of the product, supply and demand, and or kinks in the distribution system such as with Katrina that interrupted the supply of oil. If you will remember the main pipeline that help supplied oil to metro Atlanta was shut down for a few days.
onpatroll
April 25th, 2011
12:01 pm
doom, and where is the price now, like i said, 10 pennies ain’t going to help the fact. A gradual decline in price equals a gradual increase in consumption. that leads to another gradual increase in price.
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:02 pm
Putting Exxon’s Tax Bill In Perspective,
So Jay is actually whining about 4 billion in total subsidies to the oil industry. Read and learn Jay.
Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That’s $27,000,000,000 per year, a number so large it’s hard to comprehend. Here’s one way to put Exxon’s taxes into perspective.
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion
Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers paid in 2004 (most recent year available), which is 65,000,000 people! Further, the tax rate for the bottom 50% was only 3% of adjusted gross income ($27.4 billion / $922 billion) in 2004, and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
jm
April 25th, 2011
12:03 pm
Meet the libertarian Kennedys
politico.com
jt
April 25th, 2011
12:03 pm
Only a MORON (or a government worker) would claim that we were ADDICTED to oil or petroleum products.
In case no one knows, much of our IODIZED SALT is a by-product of petroleum products. Try doing without that………………………………………………….numbskulls.
The parasite class has always tried to cash in on the necessecities of the producing class of a well and civil society. (See boooze,rubber,silk,tobacco, pot,etc……………).(the actual CLIMATE has been real popular lately,not unlike the apex of collectivism of 40’s in the USSR and Germany).
And there has never been a shortage of fools to empower them.
Nonetheless, it is going to get much worse with a washingtonian managed economy before the great strides in energy technology comes to fruition………..IT WILL GET BETTER.
Let the Krugman’s and Bookmans cry the blues.The precarious few great American Individual who are left, will ultimantly save us……….Despite ………..an avalanche of food stamps,student loans, tax breaks, subsidy,state-sponsered propaganda ,Federal “help”……..Just say NO!
I WILL CHOOSE A PATH THAT’S CLEAR, I WILL CHOOSE FREEWILL!
Ron Paul 2012.
http://www.youtube.com/watch?v=OnxkfLe4G74
onpatroll
April 25th, 2011
12:04 pm
The reason gas rose quickly was due to Wall Street speculation mostly likely from Obama’s largest campaign contributor Goldman Sachs and their buddies on Wall Street.
Oh, how we like to ignore the obvious. Why are you so fixated on political names like D and R when they are one in the same.
MiltonMan
April 25th, 2011
12:04 pm
AmVet – his “one-upmanship” in strong display today.
For a “man” who has stated over & over that you did not vote for Obozo, you seem to defend the guy to no end & constantly bash those who are “conservative.” Do us a favor pal, move back to Nebraska.
Southern Comfort (aka The Man)
April 25th, 2011
12:04 pm
SoCo–thanks for helping make my case. Obozo is using bureaucracy as a de facto moratorium.
Didn’t make your case. If there’s not qualified people to process and/or adjudicate the permits, that’s not bureaucracy, that’s just a lack of training in the industry. Obama’s not responsible for training people to do that job any more than you are. However, I’m sure in your twisted logical way of thinking, Obama’s responsible for everything from sunlight to flatulence.
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:04 pm
onpatroll,
How many times do I have to repeat myself. The whole point is not that gas dropped overnight by 10 cents but that it gradually began declining right back down to the levels it was at before the big runup. That is the main point- the 10 cent drop overnight was just an example of how the markets react to new supply coming online in the futures markets.
Lil' Barry Bailout
April 25th, 2011
12:05 pm
A liberal is a man with three legs who only knows how to use two of them.
jm
April 25th, 2011
12:05 pm
amen.
Bloomberg: Hands off the rich
Billionaire New York Mayor Michael Bloomberg says it’s not time to soak the rich – yet.
Appearing on “Fox News Sunday,” Bloomberg praised Rep. Paul Ryan’s moxie for proposing a comprehensive budget plan but wouldn’t say which plan — Ryan’s or Obama’s — he backed.
“I don’t know that we are in big trouble, but we certainly could be very easily – this is a warning,” he said when host host Chris Wallace asked him about S&P’s outlook on downgrading on U.S. treasury bonds.
A Democrat turned Republican turned independent, Bloomberg said he favors an all-of-the-above approach to deficit reduction but thinks hiking taxes on the rich at the moment would kick the U.S. economy into a tailspin.
“Today, no,” Bloomberg said when asked if he backed White House plans to raise $1 trillion from tax hikes on families earning more than $250,000. “This economy is at a point, nationwide, where it could go either way. I do think we should have taxes. I do think that people should pay their fair share. I do think that the majority of the money is going to come from the wealthy, that’s where the money is. On the other hand, today is not the right ways to do it.”
Tamika
April 25th, 2011
12:05 pm
Bookman is just another faithful toady of the left saying whatever he must to keep Obama from being tagged with the high price of gas. Tucker is running the same story. How many more times have we seen the same pitch from the leftie pundits? An accident?
The spin doctors got thier orders from the spin masters and wrote thier editorials right on cue.
Hillbilly Deluxe
April 25th, 2011
12:05 pm
Don’t forget the role that futures speculation plays in all this.
As for the subsidies to oil companies, I’m for cutting subsidies to oil companies, ethanol producers, wind power, solar power and all the other energy companies. Probably every sector is receiving some subsidy. Cut all the subsidies and level the playing field.
@@
April 25th, 2011
12:05 pm
UGA1999:
A little over $28,000 is a no go. I can’t see low-income folks paying any of those prices.
I’ve gotta get out to the garden. I’m way behind in my horticultural endeavors. Can’t glaze the windows AND work the soil.
Paul:
We have a hard and fast rule in this household. Anything over $10,000 from which we gain 10 years of value is a waste personal investment.
You have your standards, we have ours.
Paul
April 25th, 2011
12:06 pm
Thulsa Doom
Any idea how the gross earnings of Exxon Mobil compared to the gross earnings of the bottom 50% of individual taxpayers?
LeeH1
April 25th, 2011
12:07 pm
Brazil drivers use cars that take 85% ethanol and 15% gasoline. We can do this.
We won’t, because big cars and politicians are in bed with big oil. They won’t do naything to upset the apple cart, and let us be independent. If we had gone to 85% ethanol in 1979, we would be independent today.
If we start demanding that all new cars have 85% ethanol capability, we will be independent from foreign oil in 15 years.
Don’t hold you breath.
onpatroll
April 25th, 2011
12:08 pm
Only a MORON (or a government worker) would claim that we were ADDICTED to oil or petroleum products.
In case no one knows, much of our IODIZED SALT is a by-product of petroleum products. Try doing without that………………………………………………….numbskulls.
is this statement an oxymoron or am I reading this wrong?
Common Sense
April 25th, 2011
12:08 pm
@Aquagirl,
Barking up the wrong tree here.
I am talking about the idea that you are “conserving” when it still won’t be there for you in the future.
And I am all for bringing all the troops home yesterday. They are not there because I requested it.
As I stated, any oil Americans think they are saving, China will consume in a New York minute. How much are we willing to spend to give China that extra oil?
I can cycle anywhere I need to go. This ass ain’t fat.
Left wing management
April 25th, 2011
12:10 pm
I see you’re back, Thulsa. On reading Michael Gerson’s latest column I was reminded of our recent discussion of Churchill’s (in my view) ridiculous assertion that progressivism belongs in youth and conservativism belongs in mature adulthood. Though he’s talking about libertarianism specifically, I don’t see how you can avoid applying what he says to most of what passes for conservativism today. “Adult onset adolescence”, he calls it. If you’re interested, here’s the link:
http://www.washingtonpost.com/opinions/ayn_rands_adult_onset_adolescence/2011/04/21/AFv2JyKE_story.html?nav=emailpage
If Objectivism seems familiar, it is because most people know it under another name: adolescence. Many of us experienced a few unfortunate years of invincible self-involvement, testing moral boundaries and prone to stormy egotism and hero worship. Usually one grows out of it, eventually discovering that the quality of our lives is tied to the benefit of others. Rand’s achievement was to turn a phase into a philosophy, as attractive as an outbreak of acne.
The appeal of Ayn Rand to conservatives is both considerable and inexplicable.
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
12:10 pm
For a “man” who has stated over & over that you did not vote for Obozo, you seem to defend the guy to no end & constantly bash those who are “conservative.
Good boy, Uncle Milite!
Now YOU too can put your money where your big mouth is, and prove what you fallacious claim.
Ain’t gonna happen though is it, Miltie?
Because your claims about my defending BHO to all ends don’t exist.
And even if they did, you are nither bright or ambitious enough to do anything but bluster and make up lies any way.
Do you ever get tired of looking like a petulant little fool, Miltie?
Do us a favor pal, move back to Nebraska.
Sorry, but you and your pocket gerbil are gonna have to get even more accustomed to constant disappointment…
Yippee
April 25th, 2011
12:11 pm
Last week, he announced a federal investigation into the role of speculation in driving up oil prices, just as President George W. Bush did in 2005 and 2006.
Speaking about investigations and commissions. Obama says one thing (campaigns) but does something else (governs). So what is this man: forgetful; disingenuous; deceitful; or just your run of the mill liar?
Here is what candidate Obama said:
“We don’t need a commission to tell us how we got into this mess, we need a president who will lead us out of this mess, and that’s the kind of president I intend to be.” But…
Obama a Quick Study on Creating Commissions
http://washingtonexaminer.com/politics/2011/04/obama-quick-study-creating-commissions
Paul
April 25th, 2011
12:11 pm
@@ 12:05
http://www.star-telegram.com/2011/04/22/3020546/oil-were-being-had-again.html
As far as the 10k limit, fine. But the underlying theme in all this is, regardless of what one drives, don’t waste. Set the cruise control at the speed limit or 5 under. Don’t race to the stoplight. Simple stuff, multiplied by the number of drivers, pays big dividends.
chuck
April 25th, 2011
12:12 pm
onpatroll, I’m not nearly as big as your mouth. I walk all the time FOR EXERCISE. What I am NOT going to do is spend time that I DON’T HAVE walking 5 or 6 blocks from a bus stop to an appointment. PLUS, riding public transportation may inadvetrtantly put me in the company of people like you. I’d be willing to bet that you never set foot on a MARTA bus. If you had an ACTUAL ARGUMENT in favor of mass transit, I would LOVE TO HEAR IT.
BOTTOM LINE: 1) There is NO SHORTAGE of oil. We have a hundred plus year supply in the U.S. with reserves that we KNOW ABOUT. 2) Maybe in 20-30 years we will have an alternative. We do NOT have one NOW. OUR OIL SUPPLY would get us to that point. 3) Liberal ideas to this point on how to “save” the environment have actually done more harm than good. I’ll finish in a few minutes.
onpatroll
April 25th, 2011
12:13 pm
doom, I don’t think you comprehend what is happening. If we say and do drill here and now. we WILL NOT be paying 89 cents for a gallon ever again. EVER.
Prices are here to stay no matter what is done. the only direction in the long term is up and any short term dip in 10 pennies will not change anything.
TnGelding
April 25th, 2011
12:13 pm
Fletch
April 25th, 2011
9:24 am
I’d be interested in your solution. Nationalizing the oil companies is about all Obama could do at this point. And as with TARP and GM, why not? All I know is we’re being sold oil for a hundred times what it cost some OPEC members to produce it. THE USA doesn’t need a drop from the ME.
larry
April 25th, 2011
12:14 pm
Billionaire New York Mayor Michael Bloomberg says it’s not time to soak the rich – yet.
Of course , he’s going to say that. Duh!!
getalife
April 25th, 2011
12:14 pm
“What we need instead is is bold partisanship and confrontation.”
Interesting but the gop blocked everything so he has to work with them.
He is getting the Clinton treatment, aka the vast rw conspiracy, so he is acting just like President Clinton.
TnGelding
April 25th, 2011
12:14 pm
A liberal is someone that used to be known as a consrvative.
THE TRUTH
April 25th, 2011
12:15 pm
Amvet (NOT) You and Obozo are of the same making all full off hot air and rhetoric, playing the blame game and making fause statements.
Southern Comfort (aka The Man)
April 25th, 2011
12:15 pm
SoCo 10:41 – unless you provide a link, I’m not buying that. In Spain, they have had to idle production from wind energy production.
jm – Ask and ye shall receive….
Solar power is intermittent and can arrive in huge surges when the sun comes out. These most often happen near midday rather than when demand for power is high, such as in the evenings. A small surge can be accommodated by switching off conventional power station generators, to keep the overall supply to the grid the same. But if the solar power input is too large it will exceed demand even with all the generators switched off. Stephan Köhler, head of Germany’s energy agency, DENA, warned in an interview with the Berliner Zeitung on 17 October that at current rates of installation, solar capacity will soon reach those levels, and could trigger blackouts.
Subsidies have encouraged German citizens and businesses to install solar panels and sell surplus electricity to the grid at a premium. Uptake has been so rapid that solar capacity could reach 30 gigawatts, equal to the country’s weekend power consumption, by the end of next year. “We need to cap installation of new panels,” a spokesperson for DENA told New Scientist.
Another one
Since 2000, the German solar power capacity compound annual growth is nearly 63%. The Federal Ministry for Environment, Nature, Conservation, and Nuclear Safety issued the following data for the past decade. Even in the midst of a major economic downturn, German solar capacity achieved a 33% CAGR.
[...]
German enthusiasm for sustainability and solar power creates possible problems. A report by the government’s energy agency warns that solar growth pressures the aging German electrical grid. A weekend of sunshine potentially can overload the system. Solar advocates believe the agency is exaggerated.
Or this one:
The electricity grid in Germany is actually in trouble because of too much solar power feeding into it. At least that’s what the chairman of the DENA agency, which advises the government on energy, has warned.
Thanks in part to subsidies by the German government, solar installations have been spreading like wildfire. UPI reports that between eight and 10 gigawatts of solar capacity, which is equivalent to about 10 coal-fired power plants, are expected to be installed this year alone.
Need me to find more for you?
jm
April 25th, 2011
12:16 pm
Obama is no bridge between the various divisions. The guy is a fraud. Yeah, he could do whatever he wanted when he ran things 100% under Dem control. Now that R’s have a seat at the table, he doesn’t want to play anymore.
Mick
April 25th, 2011
12:17 pm
Yes, brazil of all places is ahead of the US when it comes to energy. Their economy also is booming and many are buying up low priced properties in south florida. We need to follow brazil? That says a lot…
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:17 pm
Paul
April 25th, 2011
12:06 pm
Thulsa Doom
Any idea how the gross earnings of Exxon Mobil compared to the gross earnings of the bottom 50% of individual taxpayers?-Paul
Paul,
The tax rate for the bottom 50% was only 3% of adjusted gross income ($27.4 billion / $922 billion) in 2004, and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
The bottom 50% of taxpayers earned 922 billion in income and paid 27.4 billion in taxes. Exxon earned 67.4 billion but paid 27.9 billion in taxes. So obviously the bottom 50% of wage earners paid very little while just on corporation paid out more in taxes than 65 million American workers. Seems not only fair to me but more than fair.
MiltonMan
April 25th, 2011
12:17 pm
AmWay – I have already pointed out that you called out Dr. Price as a witch doctor in the past to which your one-cell processing capabilites denied doing. Remember? Your lap dog Normal came on this board defending you. You acted like a second-grade little girl who found out that some little pea-brained boy like Normal had a crush on them.
And now in an earlier post you are defending Jimmy Carter???
Pal, if anyone is a fool it is you.
Southern Comfort (aka The Man)
April 25th, 2011
12:17 pm
jm
One more on Germany’s solar, that even you may find a bit surprising…..
Google recently ventured outside the U.S. to put EURO 3.5 million (~$5 million) into a 18.7-MW German solar power plant near Berlin.
http://www.matternetwork.com/2011/4/google-invests-5m-german-solar.cfm
THE TRUTH
April 25th, 2011
12:18 pm
TnGelding
April 25th, 2011
12:14 pm
A liberal is someone that used to be known as a consrvative who forgot how to think for their self and became an Obungles Hope and CHANGE stoolie.
@@
April 25th, 2011
12:19 pm
Paul:
Howz’bout I limit my driving and distance to about 1/4 of what all others engage in and drive within 10 over the speed limit? I’m now on file as a speed demon, so….within 10 is supposed to fly with law enforcement, or so I’ve heard.
I’m gone.
onpatroll
April 25th, 2011
12:19 pm
moded
chuck you sound lazy as crap with that argument.
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:19 pm
Left wing management,
We’re talking oil today- not ayn rand, churchill, etc. Get with the program.
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
12:21 pm
Amvet (NOT) , how can you accuse someone of lying after all you make a false claim with your handle.
Manup, failure.
Admit you lie about veterans and hate the troops.
And what about this claim, liar?
…and giving that idiot in the White House now a free pass.
Where’s your proof, THE LIAR?
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:21 pm
Hope and Change! There. I said it. All of our problems are now solved. Cutesy slogans solve problems!
jm
April 25th, 2011
12:21 pm
SoCo – link 1 says nothing about actual power shifting occurring due to significant solar generation. Link 2 & 3 don’t work. But the text you posted doesn’t suggest anything like that happening either.
Link 4 is a step in the right direction but still doesn’t state exactly what you asserted.
By necessity, one might add: sure, they’ve built a lot of solar panels (in a cloudy northern country), and at what cost???? (answer: 3-5 times the cost of conventional power, so picture paying 4 times your current power bill, $0.50 / kwh, or for the average joe, $500 to $1,000 per month in electricity).
Thulsa Doom on those evil ole oil companies
April 25th, 2011
12:22 pm
Change you can believe in! WOW! I just solved the future funding obligations of social security, medicare, and medicaid with one Obama slogan! This stuff really works!
MiltonMan
April 25th, 2011
12:23 pm
TheTruth – shhh! AmWay thinks he is the only vet on this board.
The clown uses the VA due to wounds received – aka “friendly fire.”
AmVet - A conservative is a man with two perfectly good legs who, however, has never learned how to walk forward. ~Franklin D. Roosevelt
April 25th, 2011
12:23 pm
…you did not vote for Obozo, you seem to defend the guy to no end…
And Cong. Price has what to do with your lie?
More Miltie failure and ballerina imitations…
larry
April 25th, 2011
12:25 pm
Shock and Awe! There. I said it. All of our problems are now solved. Cutesy slogans solve problems!
Paul
April 25th, 2011
12:25 pm
Thulsa Doom
Thanks. Do you have a cite? I think we may be looking at articles that speak of quarterly earnings, not annual.
“. Exxon earned 67.4 billion but paid 27.9 billion in taxes”
The quick check I did for 2008 showed they had revenues of nearly $88 billion for one quarter alone.
http://money.cnn.com/2009/01/30/news/companies/exxon_earnings/index.htm
Ivan
April 25th, 2011
12:25 pm
“President Obama is following the futile course set by his predecessor. Last week, he announced a federal investigation into the role of speculation in driving up oil prices, just as President George W. Bush did in 2005 and 2006″
Mark up another one Obama copies from the administration he constantly bashed.
Paul
April 25th, 2011
12:27 pm
@@
That’ll work.
But I really, really get a kick out of the bloggers here (not you) who, when discussing immigration like to type “WHAT PART OF ‘ILLEGAL’ DON’T YOU UNDERSTAND???” but when it comes to their breaking the law by regularly driving over the limit they become very, very quiet.
Captain Comet
April 25th, 2011
12:27 pm
We all know the President controls oil pricing. Learned that right here on this blog when Bush was President.
TnGelding
April 25th, 2011
12:27 pm
Hope and change and ObamaCare are just catch phrases so you won’t have to offer any real solutions. He’s one man and doesn’t have that much power. The veto pen is his main weapon. Bush’s miserable failure and the feared demonization of Hillary got him elected.
THE TRUTH
April 25th, 2011
12:28 pm
Amvet (NOT) wheres your proof you served . What year were you born ? What year did you serve ? How old were you when you enlisted ?
Hate the troops ? You can make false statements and claims all day long, but that will not change the facts . Will it ?
Our troops are brave men and women who I give my upmost respect. You on the other hand dishonor them with your handle.
poison pen
April 25th, 2011
12:30 pm
Didn’t Jay support Bloomberg about a week ago? I could be mistaken, but I wonder how he feels about him now?
poison pen
April 25th, 2011
12:32 pm
Paul
April 25th, 2011
12:27 pm
@@
That’ll work.
But I really, really get a kick out of the bloggers here (not you) who, when discussing immigration like to type “WHAT PART OF ‘ILLEGAL’ DON’T YOU UNDERSTAND???” but when it comes to their breaking the law by regularly driving over the limit they become very, very quiet.
Paul, how in the Hell can you equate Illegals with going over the speed limit. DUH!
TnGelding
April 25th, 2011
12:32 pm
Our troops are brain-washed drones trying to put food on the table. We dishonor them by allowing politicians to use them in ways unintended by the Constitution. Congress doesn’t even have the courage to declare war and the administrations don’t want to be restricted by the rules that would incur.
Common Sense
April 25th, 2011
12:32 pm
You know, if this were a real crisis, we would encourage all areas that can grow sugar cane be planted as soon as possible. This would include all medians along the federal highways.
Millions of acres of sugar cane could be harvested, allowing America to supply it’s own ethanol.
The only thing we are serious about is sounding the false alarms of impending doom.
Independent
April 25th, 2011
12:33 pm
What I don’t like about gas prices is the volatility. Don’t they sell one-year and 5-year gas futures? Otherwise, the last time gas was $4 a gallon, I bought a Prius, which is paying for itself by what it saves in gas. It was a good economic decision.
THE TRUTH
April 25th, 2011
12:34 pm
TnGelding
April 25th, 2011
12:32 pm
Our troops are brain-washed drones trying to put food on the table. We dishonor them by allowing politicians to use them in ways unintended by the Constitution. Congress doesn’t even have the courage to declare war and the administrations don’t want to be restricted by the rules that would incur.
Are you talking about Obungles and Libya ?
Left wing management
April 25th, 2011
12:36 pm
getalife: “Interesting but the gop blocked everything so he has to work with them.”
One of the reasons they are blocking him is that he has splits in his coalition that they do not have (or at least not up until now, we’ll see about the upcoming months). And one of the reasons for the split in the coalition is that the Democratic party has ceded the debate to the right on economics.