Now that the Buckeys have lost, it's time for some therapy by venting.

Recently, I was watching how Obama wishes to end subsidies on "Big Oil" as he calls it. He says this in the same breath when saying that they are to blame for oil prices.

Great, so if Obama gets his way, the "Big Oil" subsidies will end causing them to fork over $2 billion more in revenue which will cause the oil companies to pass the cost to us? What am I missing here?

Not to worry, I've figured it all out. Obama knows that his election chances hinge on lower prices at the pump and he also knows his plan would be counterproductive to this end. His message is simply one of demogogary. He knows that Big Oil has been successfully demonized and is playing off the emotional draw of such rhetoric, when he knows full well that the GOP led House will never proceed with the plan. The funny part is, is that if the GOP went along with his plan, they would effectively kick him out of office in 2012 due to higher prices at the pumps.

Now on the the real cause of increased oil prices. The real reason is inflation of the dollar. In fact, today one ounce of gold buys about as much oil as it did in 1961 when OPEC was created.

http://www.kwaves.com/barrels_of_oil_one_ounce_of_gold.htm

or

http://www.youshouldbuygold.com/2010/10/how-much-oil-can-an-ounce-of-gold-buy/ (click on why the price of oil is so high)

In short, the government is soley responsible for increasing costs and is directly correlated to inflation of the dollar via the Fed.

Make no mistake, I have no great love of "big oil" or any other corporate structure. In fact, I detest corporate welfare. I simply detest the blantant demogogary we see daily with Americans thinking favorably of the nice guy Obama. In fact, maybe if such myths are debunked, perhaps we can avoid this.

http://www.youtube.com/watch?v=GqjFBiPMmBE

What also is funny, is that the Deomcrats cried about high prices under "W" and blamed him, but now the opposite is true. Now high prices seem to be a "good" thing.

http://www.youtube.com/watch?v=qKdScVerrBU

In fact, Obama claimed to be able to control gas prices in his 2008 election bid.

http://www.youtube.com/watch?v=VPyFbNWffHE

Two things:

No matter how high prices get, they always drop in the fall so relatively speaking, gas will appear low and the issue of high prices will be a distant memory because Americans have a short memory.

Sure, you have your Republicans and Democrats, but the masses run to the polls on race, gay marriage and abortion.

This country is hosed, third world country, here we come.

I don't see oil/gas prices being an issue either way in November. That's not what cost the GOP the election in 2008, and it's not going to cost either party in 2012 UNLESS the prices are well over $4.00 in November...THAT might sway the national mood just enough to vote against the incumbent president. But like Homey said, gas prices usually fall after the summer. As miserable as gas prices will be in July, they will probably be where they are right now in November.

I have always loved the words "big oil", that was a liberal tag line when Bush was President.
"Bush is protecting his BIG OIL Friends"....lol

As if there is an alternative to "big oil".

If the American people pay attention to what is going on, Rainman could beat Obama, but the majority of the country will ignore politics, then vote based on what the media tells them about a week before the election.
Depending on who or what they watch will determine the vote.
The liberals will continue to toss out bait to the religious whack jobs and they will take the bait and instead of paying attention to the important things, they will waste time debating pointless rhetoric.



http://murf-seriously.blogspot.com/

It's really hard to figure out why Americans vote the way they do. Juat consider why they elected "W" for two terms and now potentially Obama for two terms. Apparently, Americans are in love with how they both govern, which is essentially about the same. They both are fiscally retarted and love to wage wars around the globe and love to create massive entitlements that further inflate the dollar and the price of everything else like gas and gold. Too bad that there is not progressive inflation cause it is brutal on the poor.

I think that oil prices are different from other costs going up. After all, we drive around everyday in pursuit of the lowest gas price, thus we are all painfully aware of the slightest of increases. Conversely, can anyone tell me what the price of product "X" was a month ago that you need to buy in order to survive?

It's really hard to figure out why Americans vote the way they do. Juat consider why they elected "W" for two terms and now potentially Obama for two terms. Apparently, Americans are in love with how they both govern, which is essentially about the same.

Lack of choices is my rationale. Kerry was a weak candidate in 2008, and I'm not sure which side had or used more money, but the GOP definitely out campaigned Kerry (Swiftboat Vets, "flip flopping," portraying Kerry soft on national security, etc) despite an ongoing war that was widely unpopular even then. In 2012 Romney/Santorum are complete garbage and in the end in terms of using money the Democrats will have a lot to use as the GOP field seems to be dragging on much longer than many expected. All of this despite a Health Care bill that is widely unpopular not only amongst conservatives and independents but also many dems.

Again, why we need a third party. Ron Paul has some of the same appeal that Ross Perot did, yet he wastes all of this money sticking around in a GOP race that he's never going to win when in a General Election I feel that he could put up a good showing. Said this before and said this again...any TRUE fiscal conservative and Libertarian would vote for him. And he would have the stoner vote as well. LOL!

Closing the loophole would generate more money and reduce the deficit, no?

It may come as an additional expense to the tax payer, but that is the decision of BIG OIL, not the POTUS.

Closing the loophole would create a more accurate price of gas, right?



"Insert witty quotation here"

It now appears that no matter who you put in there the results will be the same. This country had numerous warnings throughout the decades to get away from OPEC but we either coundn't do it or wouldn't do it. If you don't learn the lessons of history you are doomed to repeat tham in the future. It seems that big oil has had this country in a hammerlock for a long time now and we are powerless to resolve it. If I didn't know any better I'd swear there's a connivence between big oil and OPEC. Maybe Murf had something there when he said that these big companies are having a drunken orgy at our (middle class) expense and what's really sad is these oil prices are hurting Obama's constituents the most. If this is not resolved we will slide steadily toward 3rd world status.

Here is an article about the middle class being taken out. Strong headline inflation including oil is one of the engines doing the damage. Reinforces what I suspected all along.


http://www.yolohub.com/economy/45-signs-that-the-middle-class-is-being-systematically-wiped-out

Obama, by design, wants a destitute America. Who would they vote for? Its all about keeping the power.

Since this board deals with opinions primarily recall that gas was $4.08 in July of 2008 and that was during Bush's last year. My opinion is the coorporate elite is behind this and it is immaterial who is in office. What they don't get is they will kill the goose that laid the golden egg, wipe out the middle class and be left with a shell of a country composed of working poor and poverty. This is a winner take all game and the coorporate elite are winning big.

As a lot of you know I have worked in the oil field for 16 years starting when I was 19. I have worked offshore, Colorado, Utah, Wyoming, North Slope of Alaska, Pennsylvania and overseas for the entire major and a lot of minor oil companies. Reading these posts are how most people in the U.S. believe. The media and the government want you to think that BIG OIL (love that word) is the cause of gas prices an the U.S. is at the mercy of foreign countries for our energy needs. BLAH, BLAH, BLAH --- TOTAL B.S.. The truth is the U.S. has more oil than Saudi Arabia but our government will not let us drill for reasons that is beyond me. However they dont want you to know the vast oil reserves we have because the public would be demanding we start drilling tomorrow. What, they will tell you is that we cant drill for it or it will take too long to recover the oil from the ground. MORE B.S., The truth is the average well takes about a month from the time they start drilling till their producing. The fact of the matter is our government will use a lot of excuses to prevent BIG OIL from going after the resources. Why does the government do this? Who Knows? Maybe theyre in bed with OPEC or they want the middle class to fail. Now before all you Democrats get tweaked out its the Republicans doing the same thing. However the Republicans will talk a lot of noise but dont end up lifting drilling bans that are in place.

Our biggest resource is Oil Shale in the Rockies which is almost 2 trillion barrels worth of oil. This estimate comes from the USGS and yes you can Google it. In comparison Saudi Arabia has about 280 billion barrels left before their done. However almost all of the land the Oil shale is on is on public land and guess what theres been a ban on drilling for it under Clinton, Bush, and Obama. The oil Shale that is produced primarily by Chevron in Colorado is on private land they have acquired. Unfortunately though almost all the oil Shale lies on public land. The government will also lead you to believe because oil shale has to be heated to be recoverable that it is not economic to large oil companies to produce. More B.S. it has to be at least 60 bucks a barrel for oil companies to make a profit off of oil shale. What is it now a $100?

So what would happen if the government opened up drilling in the U.S. tomorrow? The price of oil in the stock market would plummet since the speculators would see the world would be flooded with a vast oil reserve. Then gas prices would also plummet and 10s of millions of jobs would be created our economy vastly improved a stronger dollar and our major export would be oil.

Almost feel sorry for Saudi Arabia under this scenario. NOT!!!!


From The Department of Energy:

U.S. Western oil shale is a fine-grained sedimentary rock which is very rich in organic sedimentary material called kerogen. The shale is heated to separate the kerogen from the rock and the resultant liquid is converted to superior quality jet fuel, diesel fuel, kerosene, and other high value products.
To see how much oil the U.S. has in oil shale, check out our Energy Inventory. (Hintthe U.S. has 4 times the recoverable oil in oil shale as Saudi Arabias proven reserves).
A recent announcement from the U.S. Geological Survey raised previous estimates of oil shale in the Piceance Basin by 50%. Previous U.S. shale oil resource estimates totaled 2.118 trillion barrels.[i] The richest, most concentrated deposits in the U.S. are found in the Green River Formation in western Colorado, eastern Utah, and southern Wyoming (see graph at right)[ii].
Depending on technology and economics, as much as 1 trillion barrels of oil equivalent could be recoverable from oil shale resources yielding greater than 25 gallons per ton [iii]. For reference, 1 trillion barrels is nearly 4 times the amount of proven oil reserves in Saudi Arabia. The energy potential from our vast resources of oil shale could substantially shift the balance of Americas oil supply away from the Persian Gulf.
Source, The Department of Energy

"The fact of the matter is our government will use a lot of excuses to prevent BIG OIL from going after the resources. Why does the government do this? Who Knows? Maybe theyre in bed with OPEC or they want the middle class to fail."

I like what you're saying but I find it disturbing that our government want the middle class to fail. Is the government in bed with the coorporate elite? Perhaps. The ceo of Caterpiller has already said he wants a weak dollar and I think he speaks for most of the companies who sell overseas. If this is the case there's no way we - the middle class - can win. We need something - a 3rd party perhaps - to change this scenario or else we're toast.