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Danville Gasoline Prices

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Terry
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« on: April 12, 2011, 09:30:03 am »

Today, Danville gasoline cost is now $3.99 for a gallon of regular.  With prices now so high, one has to wonder where the breaking point is for the average Danville worker.  More importantly, one has to wonder why the federal government is doing absolutely nothing to bring down the price of gas for the consumer.
In the USA, you can't drill here and you can't drill there, but we're more than happy to give Brazil two billion dollars for oil exploration and a promise to buy oil from them.
Sounds to me like our politicians have their priorities all wrong.
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« Reply #1 on: April 12, 2011, 10:05:53 pm »

The price of gas has gone up because of Wall St speculators. From what I understand these speculators (g@mblers) make millions before the oil is even pumped out of the ground and the only way to get fair prices is to STOP the speculating/gambling.  I read somewhere that Obama had threatened to open up the oil reserves...so now the b@stards will g@mble on whether Obama actually does it. These people are parasites!
http://www.youtube.com/watch?v=VCC1H7MSIsg&feature=related

I really don't think drilling is the answer. I really don't!

And that whole thing about Obama giving Brazil 2 Billion was nothing but neo-conservative disinformation coming from where else?...FAUX News.  Roll Eyes
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« Reply #2 on: April 12, 2011, 10:12:51 pm »

Geez...what is it with the nanny filter??? I don't have any words censored in my CP settings. The word **** (g@mble) is being censored?? WTH?
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« Reply #3 on: April 13, 2011, 09:27:01 am »

The investment in Brazil came directly from Obama's own mouth.  It was widely reported both in the papers and on cable news.  So, I really don't understand why you're blasting Fox News, unless you have some other motive or just don't read or listen much.

Speculators have there spot in the marketplace.  And, while they do affect the price of oil, it is not significant in the overall picture.  I would much prefer a system that forces speculators to take physical  control of these products when the contracts come due.  That alone would level the playing field.  The main issue related to oil prices is the law of supply vs. demand.  While demand in the US has tapered off some what, China and India continue to use more and more oil each day.  Couple that with the unrest and uncertainty in the Middle East and you have the answer for the huge increase in gas prices in the US.  As a country, we must stop relying on outside sources for our energy.

Unless you have some magical formula to generate energy for the USA, oil and coal are the only immediate solutions.  I don't think you are going to see too many cars or homes with windmills on top of them in the next 25 years.  And, America has more oil and coal that almost any body else in the world.  Even Dick Durbin now admits that there is plenty oil oil in the Dakotas and says that we now have the technology to go and get it.  Here is a quote from his letter to me :

"A relatively new process called horizontal fracturing allowed for the production of approximately 105 million barrels of oil from the Formation in 2007. A United States Geological Survey report released in 2008 showed that with current technology, an estimated 3 billion to 4.3 billion barrels of oil could be recovered from this area. This report is the only official estimate of the Bakken Formation's resources. "
- April 7, 2011  Dick Durbin

It has now been reported that there are huge oil deposits in Utah.  The Canadians have bought the rights for exploration.  So, looks like everyone is going after our resources except us.  How smart is that?


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« Reply #4 on: April 14, 2011, 01:33:28 am »

The investment in Brazil came directly from Obama's own mouth.  It was widely reported both in the papers and on cable news.  So, I really don't understand why you're blasting Fox News, unless you have some other motive or just don't read or listen much.

Sorry Terry, but that is complete and utter bull**** about Brazil.  http://factcheck.org/2009/09/bogus-brazilian-oil-claims/
Quote
Speculators have there spot in the marketplace.  And, while they do affect the price of oil, it is not significant in the overall picture.  I would much prefer a system that forces speculators to take physical  control of these products when the contracts come due.  That alone would level the playing field.  The main issue related to oil prices is the law of supply vs. demand.  While demand in the US has tapered off some what, China and India continue to use more and more oil each day.  Couple that with the unrest and uncertainty in the Middle East and you have the answer for the huge increase in gas prices in the US.  As a country, we must stop relying on outside sources for our energy.

Goldman Sachs Admits Record Speculation To Blame For Skyrocketing Gas Prices

Quote
Unless you have some magical formula to generate energy for the USA, oil and coal are the only immediate solutions.  I don't think you are going to see too many cars or homes with windmills on top of them in the next 25 years.  And, America has more oil and coal that almost any body else in the world.  Even Dick Durbin now admits that there is plenty oil oil in the Dakotas and says that we now have the technology to go and get it.  Here is a quote from his letter to me :

"A relatively new process called horizontal fracturing allowed for the production of approximately 105 million barrels of oil from the Formation in 2007. A United States Geological Survey report released in 2008 showed that with current technology, an estimated 3 billion to 4.3 billion barrels of oil could be recovered from this area. This report is the only official estimate of the Bakken Formation's resources. "
- April 7, 2011  Dick Durbin

I get Dick Durbin form letters too... Tongue

Quote
It has now been reported that there are huge oil deposits in Utah.  The Canadians have bought the rights for exploration.  So, looks like everyone is going after our resources except us.  How smart is that?

Do you have a source for the Canadian rights to explore? There has to be more to the story...

« Last Edit: April 14, 2011, 10:20:41 am by DejaVu » Report Spam   Logged

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« Reply #5 on: April 14, 2011, 10:31:56 am »

Terry wrote:
Quote
The investment in Brazil came directly from Obama's own mouth.  It was widely reported both in the papers and on cable news.  So, I really don't understand why you're blasting Fox News, unless you have some other motive or just don't read or listen much.

Dispelling the Brazil Oil Loan Myth

<snip>
The rumor started back in the summer of 2010, when Fox FAUX News’ controversial conspiracy theorist  Glenn Beck said that Obama had lent Petrobras $2 billion for its deep ocean oil drilling off the Atlantic Coast of Espirito Santo and Rio de Janeiro states.

Source here: http://blogs.forbes.com/kenrapoza/2011/03/17/dispelling-the-petrobras-loan-myth-as-obama-heads-to-rio/?partner=contextstory

See, I do read and I do listen.
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« Reply #6 on: April 14, 2011, 11:06:58 am »

From Terrry...
Quote
"A relatively new process called horizontal fracturing allowed for the production of approximately 105 million barrels of oil from the Formation in 2007. A United States Geological Survey report released in 2008 showed that with current technology, an estimated 3 billion to 4.3 billion barrels of oil could be recovered from this area. This report is the only official estimate of the Bakken Formation's resources. "
- April 7, 2011  Dick Durbin

The parasitic oil industry destroying the earth like giant mosquitoes, sucking out its life blood while injecting an infected fluid in its place.  Yes, the “invasion” is on and has been for a long time.

Environmental groups have been protesting this horrific poisoning of the water table but in vain. That’s how it is when Big Oil is involved–everyone gets bought off;


    With little oversight from the federal government, a myriad of chemicals are being injected underground in the name of energy exploration in the West. Among these chemicals, biocides are considered to pose a serious threat to environmental and public health.

    Hydraulic fracturing, known as “fracking” or “frac’ing” for short, is the process approximately 90 percent of oil and gas wells in the U.S. undergo to facilitate extraction. Biocides are used to kill microorganisms that can interfere with other fluids and methods used to stimulate extraction, and to prevent corrosion to pipes.

    In 2005, the oil and gas industry was granted an exemption from the Safe Drinking Water Act, allowing the injection of toxic fluids directly into groundwater without oversight by the U.S. Environmental Protection Agency (EPA). Prior to enacting this policy, EPA conducted a study that concludes fracking poses a minimal threat to underground sources of drinking water and determines no further study of fracking is warranted; the study has raised criticism from both inside and outside of the agency. Despite concern from public health professionals and landowners who have experienced tainted water themselves (read Laura Amos’ story), the agency has continued to require minimal regulation of the industry.  Source


This information is in the thread I started the other day...  http://vermilionvoice.smfforfree4.com/index.php/topic,1186.msg7863/topicseen.html#msg7863

This is not a "new process"...Dubin is full of it! They have been using this "hydraulic fracturing" on and near the New Madrid fault line. I don't know about anyone else but I sure don't think it's good thing!

I'm just say'n.... I do read!
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« Reply #7 on: April 14, 2011, 12:57:51 pm »

Terry wrote:
Quote
The investment in Brazil came directly from Obama's own mouth.  It was widely reported both in the papers and on cable news.  So, I really don't understand why you're blasting Fox News, unless you have some other motive or just don't read or listen much.

Dispelling the Brazil Oil Loan Myth

<snip>
The rumor started back in the summer of 2010, when Fox FAUX News’ controversial conspiracy theorist  Glenn Beck said that Obama had lent Petrobras $2 billion for its deep ocean oil drilling off the Atlantic Coast of Espirito Santo and Rio de Janeiro states.

Source here: http://blogs.forbes.com/kenrapoza/2011/03/17/dispelling-the-petrobras-loan-myth-as-obama-heads-to-rio/?partner=contextstory

See, I do read and I do listen.

"The Export Import Bank is a government run bank. It made a preliminary commitment to offer Petrobras $2 billion in April 2009. " - Same article, and I did hear Obama commit to this when he was in Brazil.  But, the fact is that the commitment was made during the Bush administration.  However, it does not change the fact the our US government run bank supports drilling in Brazil while we refrain from exploring our own resources.  Makes no sense.
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« Reply #8 on: April 18, 2011, 04:18:51 pm »

 Just my opinion but the politicians no longer care what we want.Every President since I can remember was going to get us off of foreign oil.
No form of energy is acceptable to the environmentalist groups. My opinion is pres.Obama is doing what all the others have done. Talk a good talk but do nothing.
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« Reply #9 on: April 20, 2011, 12:59:45 pm »

Just my opinion but the politicians no longer care what we want.Every President since I can remember was going to get us off of foreign oil.
No form of energy is acceptable to the environmentalist groups. My opinion is pres.Obama is doing what all the others have done. Talk a good talk but do nothing.
Well said, MM.  But, if gas prices stay where they are, there will be a lot of unemployed pols very soon.   
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« Reply #10 on: April 20, 2011, 01:57:28 pm »


Gas Hole (2010)
Movie|1 hr. 41 min.|


Gas Hole is a new documentary film about the history of oil prices and the future of alternative fuels. Narrated by Peter Gallagher, the film features a wide range of viewpoints including the US Department of Energy.


http://www.hulu.com/watch/231050/gas-hole
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« Reply #11 on: April 27, 2011, 11:00:05 am »

 Terry,

 I sure hope you are right.It will be interesting to see if gas prices take a sharp decrease as a election year approaches. When I was in mgt.we called the final year of a union contract,"A healing year".The very people who got rich with big bonuses & perks were suddenly the workers friends.

 
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« Reply #12 on: April 27, 2011, 11:15:22 am »

The President has his head in the ground when he says there is nothing he can do about gas prices.  He must think that the American people are as stupid as he is.  Here are several things he could do that would cut the price of gas immediately.

- Issue an order that speculators must take physical possession of any oil purchases.
- Issue hundreds of new oil drilling permits in the U.S.
- Tell the OPEC nations they must start paying us for their protection if the price of oil exceeds $30/bbl

Gas is now $4.18 in Danville.  And, Obama sits on his butt pretending he can do nothing.  The guy's a complete idiot.
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« Reply #13 on: April 27, 2011, 03:35:38 pm »

$4.09 at Clark in Westville. Guess I will be making a trip south on Friday, unless I hear of a better deal.....
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« Reply #14 on: April 28, 2011, 10:09:23 pm »

Exxon and Shell profits surge on higher oil prices

Thu Apr 28, 2011

LONDON/NEW YORK (Reuters) – Exxon Mobil Corp and Royal Dutch Shell Plc reported significantly bigger first-quarter profits and beat analysts' forecasts, helped by high oil prices and strong refining margins.

Profits for the world's biggest oil producers have surged as oil prices moved above $100 per barrel in the first quarter on unrest in the Middle East and Africa and growing global demand for energy.

Those profits come as U.S. oil companies face growing criticism for tax breaks they receive for pumping oil, even as the retail gasoline prices continue to spiral higher, reaching an average of $3.886 per gallon, up 35 percent a year ago, according to travel group AAA.

Exxon, the world's most valuable publicly listed company, posted a 69 percent increase in earnings to $10.65 billion, its biggest profit since the third-quarter of 2008, when oil prices last traded above $100 per barrel.

Alone among its Western peers, Exxon recorded an increase in production in the quarter, notching a 10 percent rise from a year-earlier to 4.82 million barrels of oil equivalent per day (boepd), helped by its takeover of U.S. natural gas company XTO last year.

Shell's earnings rose 22 percent to $6.9 billion, although asset sales pressured its oil and gas output down 3 percent to 3.50 million boepd.

Still, that decline was more modest than the 11 percent drop that BP Plc reported on Wednesday and 7 percent drop in ConocoPhillips's output.

BP has been selling assets to pay the more than $40 billion in liabilities it racked up from the massive oil spill in the Gulf of Mexico last year, while Conoco had been shedding assets to pare its debt load.

GASOLINE HEATS UP

Fatter profit margins at Exxon and Shell refineries that process crude oil into gasoline, diesel fuel and other products also helped their quarterly earnings, but Exxon mounted a robust defense aimed at distancing itself and the industry from rising gasoline prices.

A company executive pinned the blame for high crude prices on a weak U.S. dollar, unrest in the Middle East and growing demand from countries like Brazil and China.

"During the first three months of this year, for every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents," Exxon executive Ken Cohen told reporters on a conference call.

"Compare that to the 40 to 60 cents per cents per gallon that went from gasoline consumers to the government (state and federal) in gasoline taxes," he said.

LNG BUBBLES UP

Shell, the largest shipper of liquefied natural gas, also benefited from higher LNG prices following the Japanese earthquake, which was expected to lead to higher LNG demand in that country as nuclear power is scaled back.

That LNG strength, plus a number of large projects coming on stream this year, sparked hopes that Shell could join Exxon and Chevron in raising its dividend payments to shareholders.

Exxon raised its second-quarter payout 7 percent on Wednesday, while Chevron boosted its dividend 8 percent.

Chevron is due to release its quarterly earnings on Friday.

Exxon also benefited from a jump in earnings from its chemicals arm, which recorded $1.5 billion in profits in the quarter. The company is the second-largest U.S. chemicals maker behind Dow Chemical.

"It looks like chemical was really strong," Phil Weiss, oil analyst at Argus Research, said about Exxon's earnings. "And production came in on the higher side relative to my expectations, especially gas."

Shares of Shell rose 0.7 percent to 2325.5 pence on the London Stock Exchange, while Exxon shares were off 0.5 percent at $87.35 on the New York Stock Exchange.

U.S. oil and gas companies Apache Corp [ID:nN28171934] and Occidental Petroleum Corp [ID:nN28163343] also reported earnings that topped Wall Street forecasts, lifting their share prices.

(Additional reporting by Marie Maitre in Paris, Anna Driver in Houston and Braden Reddall in San Francisco; Writing by Matt Daily and Tom Bergin; Editing by Gunna Dickson and Steve Orlofsky)

Source: http://news.yahoo.com/s/nm/20110428/ts_nm/us_oil_profits
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