Monkey Clumps wrote:
> On Jul 2, 12:49 am, gringo <gri...@[EMAIL PROTECTED]
> wrote:
>
>> Monkey Clumps wrote:
>>
>>> On Jul 1, 11:58 am, gringo <gri...@[EMAIL PROTECTED]
> wrote:
>>>
>>>> Monkey Clumps wrote:
>>>>
>>>>> On Jun 30, 9:04 pm, gringo <gri...@[EMAIL PROTECTED]
> wrote:
>>>>>
>>>>>> Monkey Clumps wrote:
>>>>>>
>>>>>>> On Jun 30, 1:15 am, gringo <gri...@[EMAIL PROTECTED]
> wrote:
>>>>>>>
>>>>>>>> FIRST, they need to uncap existing producing wells and begin to
drill in
>>>>>>>> land they're already permitted to drill on.
>>>>>>>>
>>>>>>> Its pretty clear from this statement that you have no idea what
you
>>>>>>> are talking about. "Uncap existing producing wells"? Are you
>>>>>>> actually suggesting that oil companies have shut down existing,
>>>>>>> producing wells with oil prices above $140? That's laughable.
Let's
>>>>>>> see some cites.
>>>>>>>
>>>>>>> You probably think offshore leases come equipped with pre
installed
>>>>>>> well heads and production platforms, each with a guaranteed amount
of
>>>>>>> oil and gas. All the oil companies have to do is flip a switch
and
>>>>>>> count the money, right? Why don't you take a step outside your
>>>>>>> fantasy world and get back to us when you have some ****ing clue
about
>>>>>>> reality.
>>>>>>>
>>>>>> You're thinking present tense; Big Money thinks long-term.
>>>>>>
>>>>>> Much of the oil being pumped in the US now comes from wells drilled
>>>>>> 20-50 years ago. When first tapped that oil was worth a few cents
per
>>>>>> gallon. Today, that same oil is worth a few dollars per gallon.
>>>>>> Tomorrow, that same oil will be worth, what, $20 per gallon??? All
>>>>>> without one red cent in additional cost. So, there certainly is
>>>>>> incentive for them to hold onto their assets.
>>>>>>
>>>>>> For the self-same reason, people collect cars, stamps, coins, guns,
>>>>>> paintings--all manner of things, tucking them away sometimes for a
>>>>>> lifetime, knowing that their value will increase a hundred-fold.
>>>>>>
>>>>>> If you can't understand what I'm talking about, you are dumber than
a gnat.
>>>>>>
>>>>> Oil companies are not stamp collectors, you moron. They are public
>>>>> cor****ations owned primarily by pension funds and mutual funds.
They
>>>>> are in a highly competitive market and they have to produce profit
to
>>>>> satisfy their shareholders and fund future projects. When prices
are
>>>>> high they have to maximize production. If they don't, they know
their
>>>>> competitors will and they will unable to compete against them in the
>>>>> future. They will be out of business if they don't make hay while
the
>>>>> sun ****nes. This idea that they would purposely sit on known
>>>>> producing sources in hopes of higher prices 50 years later flies in
>>>>> the face of reality. Sure prices will probably continue going up,
but
>>>>> thats not the deciding factor. The current management wants to
>>>>> maximize profits *now*, not 50 years down the line, dummy. You
left-
>>>>> wingers really don't understand **** about how business works, do
>>>>> you?
>>>>>
>>>> Just as I figured. You're too ****ing retarded to understand the
>>>> interconnectivity of all of society. It's not rocket science,
monkey.
>>>> It's called maximizing profits: it's what people do.
>>>> It's not grilling hamburgers at a McDonald's, doofus; oil isn't
pumped
>>>> and sold 30 seconds later. Drive through Texas sometime, notice the
>>>> thousands of rusting--but still pumping--oil wells. Oil in the
ground
>>>> is growing in value as we speak. Consider if you will just how many
>>>> extra billions the oil companies have made from the price increases
of
>>>> the last month alone!
>>>>
>>>> Monkey Chump, conducting
research:http://www.youtube.com/watch?v=4FX3SnVG-2A&feature=related
>>>>
>>> You are one stupid mother****er aren't you? This is the deal. Oil
>>> companies want to produce more but can't because they have maxed out
>>> their current production wells. Read this article about how Exxon's
>>> share price is taking a hit because their production volume is
>>> dropping. Are you going to tell me they want that to happen?
>>>
>> yes, hell yes, you idiot! They are not researching new forms of
energy,
>> new oil fields with their record profits--they are buying back their
own
>> stock. THEY WANT THE PRICE OF THEIR STOCK TO GO DOWN.
>>
>>
>>> http://www.ft.com/cms/s/0/2af6218e-1784-11dd-b98a-0000779fd2ac.html
>>>
>>> Production volume is dropping because they don't have access to drill
>>> where the oil is (ANWR and offshore).
>>>
>> horse****. Drilling on their existing permits would keep them busy for
>> the next 30 years.
>>
>
> I'm sure it might keep them busy, but its not going to get us the oil
> we need. Obviously the current leases do not hold the sort of
> deposits that are to be found at say...ANWR. Unfortunately, you are
> just too stupid to understand that.
>
Prove it.
>>> Venezuela kicked them out, so
>>> that hurt them as well. This idea that they are purposely holding
>>> back oil production is such a pile of crap. I challenge you to find a
>>> single cite that even suggests that oil companies are purposely
>>> holding back production. If you can't find a legit cite then please
>>> feel free to shut the **** up.
>>>
>> of course Venezuela kicked them out: they are using oil profits to
>> benefit the majority of their own citizens.
>>
>
> Chazev is using the money to pay for his dictator****p. Meanwhile the
> Venezuelan oil industry is running itself into the ground through
> socialist mismanagement. It sounds like the sort of cluster**** that
> people like you would cheer on.
>
http://www.politicalaffairs.net/article/view/3121/1/160/
Venezuela Oil Profits for Venezuela
By Prensa Latina
click here for related stories: Venezuela
04-04-06,9:39am
Caracas, Apr 3 (Prensa Latina) The creation of new companies to replace
oil agreements guarantees Venezuela?s sovereignty over its hydrocarbon
resources, Energy and Oil Minister Rafael Ramirez stated Monday.
Interviewed on the Venezolana de Television program "En Confianza",
Ramirez ratified Friday the constitution of 30 joint companies instead
of 32 service agreements signed during the so-called oil opening started
last century, which are basically considered covert privatization.
He explained that unlike the old days with the State only getting a cut
of 33% per barrel, the new rules give Venezuela 80%. [contrast that to
the 12% of royalties Bush & Co are trying to force Iraq to accept for
their oil.]
Only the Italian company ENI-Dacion and French TOTAL did not accept
changes and both were out of the possibility to set up as joint
companies, said the minister.
He indicated the Venezuelan state has 60 percent of the companys? shares
and the final calculation leaves the country with an 80 percent minimum
of each oil barrel.
mh/iff/ml/mf
Venezuelans pay 11 cents per gallon for gas.
From ABC News:
Chavez Uses Oil Profits to Build Political Power
Venezuela's President Uses Oil Money for Health Care and Aid for the Poor
By JIM SCIUTTO
CARACAS, Venezuela, May 25, 2006
On nearly every corner of the capital Caracas, today's Venezuela
overflows with energy and pride.
Venezuela is home to the richest oil reserves in the Western Hemisphere
and the source of 11 percent of U.S. oil im****ts.
(ABC News)
Travel hundreds of miles west to Maracaibo, and you'll find the secret
of this country's remarkable rise, the richest oil reserves in the
Western Hemisphere and the source of 11 percent of U.S. oil im****ts.
One advantage of these fields is the shallow oil deposits, just about 60
feet below the surface. The oil literally comes right out of the ground.
And that means cheap production costs averaging just a few dollars a
barrel.
With $1 billion a month in state oil profits, Venezuela's President Hugo
Chavez has converted cash into political clout.
The self-appointed champion of anti-Americanism has publicly labeled
President Bush an imperialist, an assassin and a donkey.
It is more than rhetoric.
Chavez has given significant financial sup****t to like-minded Latin
American leaders, and he has signed arms deals with Russia.
"In the past, we simply exchanged oil wealth for im****ted cars from the
U.S., fancy fabrics from France ... superficial things with no value,"
said Rafael Quiroz, the former director of the state oil company.
Profits Fuel Social Programs
Venezuela's oil wealth has largely missed the vast majority of its
population. In Caracas, 3 million of the city's 5 million residents live
in deep poverty.
Today Chavez has used oil money to win over the poor. Thousands of new
state-funded cooperatives offer free health care and discounted groceries.
But drivers may enjoy it most. Gas sells for just 11 cents a gallon
here, the world's cheapest. Still, many Venezuelans we spoke with,
especially the wealthier ones, criticize Chavez for extending state
control over the economy and wasting oil money simply to boost his
profile.
The future may lie under the Orinoco River in southern Venezuela.
If these fields can be exploited efficiently, they'd give Venezuela the
world's largest reserves and the United States a powerful rival to the
south for many years to come.
>
>> monkey chump, back up through the threads and you will indeed find all
>> the cites you want that back up my point.
>>
>
> I've read your posts and you haven't provided ****.
>
you haven't looked very hard, monkey clump.
>
>> Stop sniffing your butt,
>> monkey, actually research the subject. It'll help your education if
you
>> read material that differs from your preconceived, canned Fox News'
>> opinions.
>>
>
> Meanwhile there are no journalists that would sup****t your kooky
> views. I'm sure the lefty New York Times would love to run a story
> about oil companies pricing fixing and hoarding oil. But even they
> have journalistic standards to consider.
>
LOL. Hey ,don't blame me: Congressional hearings have said the same
things about the greed of oil companies. Go ahead, look it up. Prove me
wrong.
>
>> While I'm at it, I challenge you to provide a cite that proves that the
>> oil companies are doing every single thing they can to help end the
>> rip-off of the world's citizens by THEMSELVES and their sister
speculators.
>>
>
> Sorry Gringo, my argument is sup****ted by common sense. Oil company
> shareholders demand that the companies maximize profit in the near
> term, which means maximizing output when prices are at a historical
> high.
>
precisely what control of a cor****ation do you suppose the thousands of
small investors have, hmmm? You seem to believe that if you buy, say,
100 shares of exxon, you can go sit at the table and argue with the man
who owns 50,000,000 shares.
> Nevertheless, it is clear that oil companies are doing everything they
> can to maximize oil production, including making risky investments in
> unstable parts of the world. If more of the US was opened up they
> wouldn't have to waste their time in ****istan or wherever.
>
> http://www.ft.com/cms/s/0/d508108e-47d0-11dd-93ca-000077b07658.html
>
> You are the one with the conspiracy theory that oil companies are
> hoarding oil supplies, capping productive wells and holding back from
> extracting large deposits from leases they hold in this time of
> extreme high prices. Its all a bunch of lefty nonsense and the burden
> of proof falls on you to provide evidence for these idiotic claims.
> So far you haven't provided ****, so its probably time for you to ****
> off.
>
Evidence of that has been given before Congress. Oil company execs
answer when asked how much their personal earnings were: "I don't know."
I myself have provided these threads with evidence enough to convince
cheney that he is indeed a s***bag. What you choose to ignore is your
business. But remember, "ignore" is the base for the word "ignorant."
--
"Sarah, if the American people had ever known the truth about what we
Bushes have done to this nation, we would be chased down in the streets
and lynched."
--- George Herbert Walker Bush, in an interview with Sarah McClendon, 1992
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