There will always be oil imported into the US. All oil is not the same. Only certain types can make certain products. You'd be surprised at how much oil consumed isn't for energy.
US set to become biggest oil producer
- Thread starter B00Mer
- Start date
Yup. Blame Obama for the problems of 2017.
He'll be blamed for everything that happens throughout the rest of the century.
That really depends on how the Democrats decide to move forward, doesn't it?
Punish expansion efforts via taxation and the recovery process is dragged-out; not to mention that the appearance that a governing party and national philosophy that uses anomalous slogans like 'the wealthy to pay their fair share' will make institutional investors and multinationals think twice. Using phraseology like 'fair share' is gvt code words for expect unilateral increases to accommodate the ever expanding definition of 'fair'.
In the end, the USA is no different from every other global economy in that they too have to pay the piper... My fear for America is that the gvt lacks the fortitude to take action that is akin to swallowing a smaller pill today as opposed to the campaign rhetoric that will see a much larger pill tomorrow
They are pushing a boulder up one helluva slippery grade. What remains to be seen is whether or not the people are willing to shoulder the responsibilty and make the sacrifices necessary.
Americans can't agree on the extraction of its natural resources because it is paralyzed politically.
Big oil companies have had tax exemptions since time immemorial. In fact, I worked in the tax shelter unit of the IRS in the early 1980s and know first hand what monies they have gotten. All this time they have gotten a free ride at taxpayer expense. And what have they done with all this welfare they have gotten? They have sheltered it in more tax free accounts overseas instead of using it to create jobs. In fact they should have created MILLIONS of jobs with all that welfare they've been given. Therefore, the idea that taxing them hurts the economy is totally ridiculous. It time that these corporate welfare queens pay up their taxes like everybody else does.
Now that Slick Willy is at the helm again through Obama, the oil will indeed flow and be as cheap as it was when he was Prez and there will be prosperity once again.
I have heard that same sad country song sung in Canada too, but magically, those calculations (in Canada) never seem to include the reality that gas (oil) is subject to a 'sin tax' and gets nailed all the way along through the process.... I don't know about the US, but in Canada, the various levels of government make more off of a liter of gas than the actual producer makes.
I wonder if that's the same as the tax a local body shop or a baker gets saddled with?
But if it makes you feel better, tax the crap outta the b*stards - that will fix your economy in a jiff.
Not creating jobs?
Why are the lowst rates of unemployment from ND clear down to TX where the oil is?
And another thing...
Oil companies employ more people doing office work than they do in the fields extracting or processing oil.
Then there is the spin off jobs....
Why are the lowst rates of unemployment from ND clear down to TX where the oil is?
And another thing...
Oil companies employ more people doing office work than they do in the fields extracting or processing oil.
Then there is the spin off jobs....
No. Different types of oil make different types of products. It's not all the same and it not all used in the same way.
It's funny you use the word cracked.
http://en.wikipedia.org/wiki/Cracking_(chemistry)
the good ol' us of g has lied about everything else, so why not the oil reserves as well?
Yes, and trees grow to heaven.
And almost all on private land because the Bamster has shut down exploration on public land.
The ideologues don't get that in any way... They bend over backwards to believe that they are owed a free lunch from this sector and put the blinders on to reality.
Ironically these are the same whiners that moan about their right to a liter of cheap gas.
This goes all the way back to Carter and his belief that we were running out of oil 40 years ago (or whenever he was in).
It's not that big a surprise that their reserves would change with advances in technology, but I am really amazed that the IEA would not have recognized this possibility over the years
America isn't going to develop its energy resources. It's going to continue the present pattern because the country is paralyzed.
The oil is going to flow and it has nothing to do with who sits in a office playing a role on TV.
After his election victory Obama's EPA announced the imposition of fracking restrictions on 1.6 million acres of federal land. If you are right Obama is not off to an auspicious start.