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GAS PRICES
Topic Started: Feb 16 2012, 07:22 PM (7,991 Views)
kbp

Mason
Feb 23 2012, 08:12 AM
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CNN Didn't ask a Single Question about Gas or Oil prices in last night's Debate.

Nothing remotely close!

The media is closing ranks to do whatever they can. With the media, it's all about timing. They only have to protect him for 7 months, is the thinking.


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...and what CNN does not ask has little to nothing to do with WHAT the candidates can bring up in their response.

I actually cheered for Romney when he explained to CNN they ask the questions and HE decides how to answer them.

They need to point out how the delays in gulf drilling and limits up north drives speculation. Put a number on it, like the number of rigs before and after the shut down was imposed twice to ignore what the court had ordered

...or even pull a Pelosi by tossing out lines of BS as if it were all FACT. Let the media run with headlines challenging their accuracy, keeping it in the conversation.
Edited by kbp, Feb 23 2012, 08:48 AM.
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Baldo
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Greedy Oil Companies... What an easy target for Miss Nancy.. But does she have any clue?

Who are these evil Companies? This is the latest list I could get of the top 25 in size & production level in 2007. There are some changes in ranking but I believe it is correct in principle.

Notice anything?

1Saudi Arabian Oil Company (Saudi Arabia) 3
2National Iranian Oil Company (Iran) 3
3Qatar General Petroleum Corporation (Qatar)3
4Iraq National Oil Company (Iraq) 2,3
5Petroleos de Venezuela.S.A. (Venezuela) 3
6Abu Dhabi National Oil Company (UAE) 3
7Kuwait Petroleum Corporation (Kuwait) 3
8Nigerian National Petroleum Corporation (Nigeria) 3
9National Oil Company (Libya) 2,3
10Sonatrach (Algeria) 2,3
11Gazprom (Russia)
12OAO Rosneft (Russia)
13PetroChina Co. Ltd. (China)
14Petronas (Malaysia)
15OAO Lukoil (Russia)
16Egyptian General Petroleum Corp. (Egypt) 2
17ExxonMobil Corporation (United States)
18Petroleos Mexicanos (Mexico)
19BP Corporation (United Kingdom)
20Petroleo Brasilerio S.A. (Brazil)
21Chevron Corporation (United States)
22Royal Dutch/Shell (Netherlands)
23ConocoPhillips (United States)
24Sonangol (Angola)3
25Petroleum Development Oman LLC (Oman)

Posted Image

http://www.petrostrategies.org/Links/Worlds_Largest_Oil_and_Gas_Companies_Sites.htm


Hummm :think:

Seems like most of these are foreign companies that are not under US control and are sovereign owned companies.

The price of oil is set on the world market. I don't doubt there is speculation, but is speculation wrong? After all it is a two-sided equation. There are winners & losers and the net result it is a futures market where bets are made where is the market going. The speculators in NYC, Chicago, London, Dubai, and any other future exchanges are buying & selling future contracts to deliver crude. In 2008 what happened to those who purchased contracts at $147/barrel. They lost their shirts as oil dropped below $40.

Remember when someone buys a future contract, another has to sell it. One of the biggest buyers in 2007-8 was CALPERS, California's State Public Employees Pension Plan, Oops we better not talk about that.

World events, supply & demand, govt restrictions, etc determine the price of oil. The price of gas is another thing. It is a product. California basically stops any expansion of its refineries.

Obama is an awful president in so many areas. His foreign policy has been nothing less than a disaster and certainly hasn't added to stability. His EPA is trying to restrict refineries at a time when we need them. Oil exploration companies drill because they hope for profit. Remember than word that Miss Nancy doesn't like while she has amassed a personal fortune?

Until we get rid of Obama & the Senate Democrats in next Nov's election we will be stuck with the results of his ideology.

Edited by Baldo, Feb 23 2012, 10:26 AM.
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kbp

OT

CALPERS plays in commodity futures?
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Baldo
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kbp
Feb 23 2012, 09:50 AM
OT

CALPERS plays in commodity futures?
They did a lot of things. Real Estate, commodities, basically if there was a buck to be made they did it. They were into security lending etc. Also CALSTARS, the California Teacher's Pension Fund was doing it also. They both lost billions in the meltdown. Of course we don't talk about the "retirement home" for Democratic Politicians that CALPERS became like the former Assembly speaker Willie Brown. He has since left.

CALPERS has made back a lot of those billions, but there is a scandal below that NOBODY in California wants to really investigate. Shhh

Meanwhile Hindky Dinky Accounting is wildly at work on ROI assumptions

Pension earnings dip amid gloomy forecasts


The nation’s two largest public pension funds last week reported slim annual investment earnings, CalPERS 1.1 percent and CalSTRS 2.3 percent, as experts continue to say hitting their long-term earnings target, 7.75 percent, will be difficult.

While CalPERS reported weak earnings in 2011, a prominent private-sector investment manager, Robert Arnott of Research Affiliates, told the board last week he thinks the most they can expect from stocks and bonds next decade is 4 percent.

Another major investor, Laurence Fink of BlackRock, told the CalPERS board during a similar educational session in 2009 that during the next 15 years: “You’ll be lucky to get 6 percent on your portfolios, maybe 5 percent.”

A Wall Street Journal columnist, Jason Zweig, said last week Warren Buffet’s Berkshire Hathaway pension fund projects a return of 7.1 percent. He said William Bernstein of Efficient Frontier Advisors expects roughly 6.5 percent from stocks.

Consultant Girard Miller said in Governing magazine this month, while discussing 12 basic public pension issues, that earnings “closer to 7 percent” are more realistic until global debt is reduced.

The California Public Employees Retirement System board decided last March to leave its earning assumption unchanged at 7.75 percent, despite a recommendation by actuaries to lower the forecast to 7.5 percent....snipped
http://calpensions.com/2012/01/30/pension-earnings-dip-amid-gloomy-forecasts/


But I go off the topic.

Notice however just how deep the doo is? All of these pension promises were made on state & local public contracts based on very high ROIs(Return of Investments). However our geniuses in office promised fixed benefits to retirees.
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kbp

The only reason I could think of for a retirement fund playing futures is if they have a sound reason to hedge another investment ...otherwise they're just rolling the dice and playing with chips that belong to somebody else.




***************

Back on topic

Oil and gas leaders slam Obama

Edited by kbp, Feb 23 2012, 10:23 AM.
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Baldo
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kbp
Feb 23 2012, 10:23 AM
The only reason I could think of for a retirement fund playing futures is if they have a sound reason to hedge another investment ...otherwise they're just rolling the dice and playing with chips that belong to somebody else.




***************

Back on topic

Oil and gas leaders slam Obama

.....White House defense

But White House press secretary Jay Carney, discussing gasoline prices Wednesday, said Obama has "put in place policies that will dramatically expand the amount of exploration in the Gulf of Mexico, will expand the amount of exploration in Alaska, will expand the amount of natural gas production here in the United States."

The Winter NAPE Conference at the George R. Brown Convention Center this week serves as a marketplace for buying, selling and trading land for oil and natural gas production.

More than 14,500 people pre-registered to attend, organizers said Wednesday, and an additional 2,000 were expected to sign up on-site. The conference, formerly called the North American Prospect Expo, also attracted about 1,000 exhibitors.

The convention's theme for the day was "The Oil and Gas Supply Renaissance: Delivering on the Promise." The U.S. has seen a surge in fossil fuel production in recent years, so intense that the nation is considering exporting its natural gas surplus. But some at the conference said the industry reached those milestones in spite of an oppressive energy policy.

Former Shell executive John Hofmeister said the nation has to adopt a more aggressive domestic drilling policy as developing countries like China demand more oil.

"The administration has done everything but support drilling," he said. "We are on the verge of slipping into an energy abyss."

Others criticized the Environmental Protection Agency's studies of hydraulic fracturing and voiced suspicions that the studies could lead to heavy federal regulations on the technique that has been central to the production boom.

Critics of the technology say it threatens water supplies and can trigger localized earthquakes.

"The science that has been used there is appalling," said Lee Fuller, vice president of government relations for the Independent Petroleum Association of America. "The tone is to always cast the study as addressing environmental risk, though there is no evidence of systemic problems."

Increased scrutiny has come as the rush to shale drilling has taken the industry to areas having little history with the oil patch. The traffic and environmental concerns that come with oil field activity have created consternation in some towns.
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kbp

But White House press secretary Jay Carney, discussing gasoline prices Wednesday, said Obama has "put in place policies that will dramatically

(A)....expand the amount of exploration in the Gulf of Mexico,

(B)....will expand the amount of exploration in Alaska,

(C)....will expand the amount of natural gas production here in the United States."



(A) Not sure how it "expands" it. Seems like he did mention speeding up lease auctions that were already scheduled to come out, but that does NOT bring the rigs back which he chased off there ....and brings in more money to spend!

(B) The expansion there is a policy which restricts and reduces what a previous policy was putting into place ...so it's a round about way of expansion of exploration ...more than there was going on, but less than was to be going on.

(C) I'm completely lost on what authority he has which could expand natural gas production. Maybe claiming that what he has the EPA or some other regulatory agency do will open up some drilling in states that are awaiting the centralized planning approval process!
Edited by kbp, Feb 23 2012, 10:49 AM.
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Baldo
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The real question is how much did the Obama Administration hinder production?

Yes the amount of rigs are up, but they stalled & delayed & wasted time. How many more would have been in real production by now. How much energy production has been denied by the Democratic Party for the last 30 years?

How much borrowed money has been wasted on Solyndra & their ilk? How many nuclear power plants have been prevented over the last 40 years?

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Mason
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Owebama doubles down on his FAILED Green Energy plan!

This guy is 1) Stupid 2) Insulated and buried with like-minded ideologues.

3) Unqualified to a spectacular degree


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Edited by Mason, Feb 23 2012, 04:49 PM.
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Mason
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Really, this is the cream of the Crop? This man is Brilliant?

We are In Trouble, folks!




http://www.youtube.com/watch?v=3IVb_pClz7o&feature=youtube_gdata_player




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Baldo
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Gas is soaring in California day by day. Jumped 3 cents overnight. Averaging over $4.08/gal in Central Valley. In SF Bay Area it is $4.18.

Meanwhile go Green :laughin:

Edited by Baldo, Feb 23 2012, 05:06 PM.
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Mason
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2008: Obama to make Oil Prices "Irrelevant"!

Yes, Obama to make Oil Prices Irrelevant!




http://redgreenandblue.org/2008/07/28/obama-campaign-seeks-to-make-oil-prices-irrelevant/



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Mason
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Owebama in 2007, right after announcing he would rid the World of Nuclear Weapons!

Are you getting this? This guy was going to have rid the world of Nuclear weapons, solved Climate change, eliminated the Deficit, and have us on a different Energy source by now!


Obama, 2007:

"If it had to be just one thing, I would enact a bold energy policy because I think that we could save so much money, engineer such a surplus in the economy, and solve climate change all at one time. And it would improve our national security posture. So you get three things. It helps our environment, our economy, and our national security. And it would free up resources to deal with what I think is the most important domestic issue, which is health care. And I think it would help us strategically on the international stage as I was ending the war in Iraq. So if I just had to choose one thing it would probably be that…..I do want three things though. I want to end the war in Iraq. I want to get everybody a health care system that's accessible....and the energy policy. But if I just had to choose one thing it would be that.  But I really want three things."


Senator Barack Obama, Exeter, NH, December 2007




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Edited by Mason, Feb 23 2012, 05:15 PM.
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Kerri P.
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http://www.wral.com/business/story/10773085/
Higher gas prices cloud Obama's re-election hopes
Posted: 51 minutes ago
Updated: 7 minutes ago

WASHINGTON — Soaring gasoline prices are threatening to undercut President Barack Obama's re-election prospects and offering Republicans an easy target. With prices pushing $4 a gallon and threatening to go even higher, Obama sought Thursday to confront rising public anxiety and strike back at his GOP critics.

"Only in politics do people root for bad news, do they greet bad news so enthusiastically," Obama said of Republicans. "You pay more; they're licking their chops."

Obama said dismissively that all the Republicans can talk about is more drilling — "a bumper sticker ... a strategy to get politicians through an election" — when the nation's energy challenges demand much more. In a speech in Miami, he promoted the expansion of domestic oil and gas exploration but also the development of new forms of energy.

For all the political claims, economists say there's not much a president of either party can do about gasoline prices. Certainly not in the short term. But it's clear that people are concerned — a new Associated Press-GfK poll says seven in 10 find the issue deeply important — so it's sure to be a political issue through the summer.

"Right now, we're experiencing yet another painful reminder of why developing new energy is so critical to our future," the president said. At an average of $3.58 a gallon, prices are already up 25 cents since Jan. 1, and experts say they could reach a record $4.25 a gallon by Memorial Day.

Those higher prices could hurt consumer spending and unravel some of the recent improvements in the economy. And they could also be a daily reminder to voters to question Obama's contention that he's making the nation — and them — more secure.

snip....
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Baldo
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He really is a piece of work. He takes credit for anything good that happens but says it's not his fault if anything bad happens.

Typical of a politician, and a goldbrick

a worthless brick that appears to be of gold: something that appears to be valuable but is actually worthless
Edited by Baldo, Feb 23 2012, 07:54 PM.
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