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O’Reilly, Gas Prices and Reality
Townhall.com ^ | February 28, 2012 | Derek Hunter

Posted on 02/29/2012 4:36:19 AM PST by Kaslin

I’m normally a fan of Fox News host Bill O’Reilly, but he is not a fan of oil companies. This is where he loses me.

It’s not that I’m a big fan of oil companies, or any particular company, really, except maybe Apple (can we get the new iPad already?). I rarely think about companies, let alone whole industries. But Bill does.

I don’t know O’Reilly’s politics, mostly because he’s all over the place. But his anger toward oil companies is misdirected and he ultimately misleads his audience.

Last week, Bill did one of his “Talking Points Memos” on high gas prices, blaming oil companies for the price at the pump. He opened up by paraphrasing Lou Dobbs, saying, “…because of the mild winter, there is plenty of oil and gas in the U.S.A. So supply and demand here should dictate lower prices. But of course, they are not lower. They are much higher because the oil companies are shipping their products overseas. Measured in dollars, oil products are now America's largest export worth $88 billion a year to the oil companies.”

That sounds great, and seems logical – more gasoline around means there should be lower prices, supply and demand. Only it isn’t that simple.

Were gasoline not manufactured, but pulled out of the ground ready to go, it would make sense. It would also make sense if for an iPad to cost $20 if they grew on trees and Apple simply picked them. Unfortunately on both accounts, it doesn’t work that way.

An iPad must be manufactured from countless parts, and the materials to make those parts cost money. Similarly, gasoline has to be refined from oil, and oil, particularly right now, is very expensive. And it’s costing more every day.

In other words, the amount of gasoline has no impact on the price at the pump. The cost of oil does. In fact, crude oil accounts for about 80 percent of the cost of fuels. As oil prices rise, gasoline prices rise. As gasoline prices rise, demand for gasoline drops, particularly in a sluggish economy. That’s why we have gasoline to export to the rest of the world, not some black helicopter conspiracy to drive up prices at the pump.

What O’Reilly doesn’t tell his audience is that exporting refined oil products is actually a good thing for our economy. When American manufacturers, like oil refiners, export their products, they create and sustain good-paying jobs, lower America’s trade deficit, and increase revenues for our Federal Treasury.

To be clear, refiners will only manufacture as much fuel as they can sell. They can’t store millions of gallons of gasoline that no one in the U.S. wants to buy. So if fuel exports are banned and taxed heavily, as O’Reilly suggests, refiners will manufacture less fuel. That could lead to refinery closures and worker layoffs.

If our federal government is serious about lowering gasoline prices, it should first start by eliminating EPA’s overreaching regulations on refiners, which make it more costly to manufacture fuels. We must also support policies that drive down the cost of oil. The only way for that to happen is to increase the supply of oil AND the stability of that supply.

O’Reilly and Democrats would have you believe that in addition to colluding oil companies, the price of oil is high because of “Wall Street speculators,” traders on the commodities market. They seem to think “speculators” are able to manipulate the price of oil. Commodities traders take large risks, and it’s called “risk” for a reason. Were they able to control the price of oil they’d be called something beside “speculators.”

But O’Reilly and Democrats need a boogeyman.

O’Reilly needs it because he fancies himself the champion of “the folks,” average Americans who he seems to think can’t figure things out for themselves.

Democrats need it to distract from the fact that high gasoline prices are something they’ve wanted and advocated for years. They’d prefer we’d have gotten to $5 per gallon gas through high taxes, rather than unrest in the Middle East, but this is where they want them to be.

President Obama wants high gas prices to drive consumers Americans to embrace alternate “green” sources of energy. The only problem with his plan is there is no “green” alternative readily available now to counteract high gas prices. The only result of his anti-domestic energy plan (denying new drilling permits, killing the Keystone XL pipeline, etc.) is to harm the wallets of all Americans, particularly low income Americans, those he claims to want to help.

But the President doesn’t seem to mind that. Instead of working to lower gasoline prices, he’s working to distract people, to shift the blame to Democrat’s boogeyman and Republicans while insulating himself. Bill O’Reilly and his irrational, illogical crusade against “big oil” is helping him in that quest.

If O’Reilly truly were interested in informing people as to why prices at the pump are high, he’d put his emotions aside, look past the oil companies, boogeymen and political spin and take a look at what’s really going on. When it comes to “big oil,” he hasn’t done it in the past, so there’s little reason to think he’ll do so now. But we can always hope.


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: dsj; opec
Navigation: use the links below to view more comments.
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1 posted on 02/29/2012 4:36:21 AM PST by Kaslin
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To: Kaslin
I’m normally a fan of Fox News host Bill O’Reilly

Lost me right there.

2 posted on 02/29/2012 4:39:04 AM PST by throwback ( The object of opening the mind, as of opening the mouth, is to shut it again on something solid.)
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To: Kaslin

I only watch (or record) the Miller segment any more because O’Idiot has gone off on these tantrums to smooth over where the blame lies. ODumbo will grant him another “exclusive” since how now tows the line


3 posted on 02/29/2012 4:41:25 AM PST by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: Kaslin

Stopped watching long ago. His constant interruption of his guests was rude and annoying.


4 posted on 02/29/2012 4:43:12 AM PST by duckman (Go Newt...)
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To: Kaslin

O’Reilly has the intellectual depth of a mud puddle.


5 posted on 02/29/2012 4:43:44 AM PST by FerociousRabbit
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To: Kaslin

BOR can be stunningly stupid at the top his voice.


6 posted on 02/29/2012 4:47:34 AM PST by Islander7 (There is no septic system so vile, so filthy, the left won't drink from to further their agenda)
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To: Kaslin

I happen to catch that opening segment looking for something else to watch....

I thought to myself.....BOR simply cannot be that stupid....then it dawned on me....he thinks we are that stupid....

Then I remembered why i stopped watching that blowhard years ago...


7 posted on 02/29/2012 4:49:23 AM PST by Popman (America is squandering its wealth on riotous living, war, and welfare.)
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To: Kaslin
there is plenty of oil and gas in the U.S.A. So supply and demand here should dictate lower prices. But of course, they are not lower.

Because oil, like gold and many other commodities, is a globally priced commodity. As long as the cost of transportation is significantly less than the cost of the material, it will be globally priced.

Globally, demand has risen.

8 posted on 02/29/2012 4:55:40 AM PST by thackney (life is fragile, handle with prayer)
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To: Kaslin
I don’t know O’Reilly’s politics, mostly because he’s all over the place.

He is a liberal, independent with semi-conservative fiscal leanings, until he invents a "new solution for the good of the folks".

His solution for gas prices is a combination of Henry Waxman, Maxine Waters, and Hitler and if you disagree with facts, he will just talk over you and change the subject.

O'Reilly is an arrogant, self promoter with no real political groundings, loves to be fawned over by his courtesans, and since his show has been #1 for over ten years, he can get away with most any thing on FOX.

9 posted on 02/29/2012 4:56:32 AM PST by USS Alaska (Nuke the terrorists savages.)
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To: Islander7

I liked him better when he played Ted Baxter and had Mary Tyler Moore next to him. He made more sense. LOL


10 posted on 02/29/2012 5:01:24 AM PST by crosslink (Moderates should play in the middle of a busy street)
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To: Kaslin
As usual, Bill O’Reilly’s mouth outruns his brain.
11 posted on 02/29/2012 5:05:16 AM PST by JPG
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To: Kaslin

BOR is stone cold stupid on this subject. Adding insult to injury, he won’t listen to people who try to explain it to him. HE truly thinks he is “maintaining” control of the interview. In reality, he is stomping all over the explanation. His problem is that he wants a one sentence explanation for a very involved question that can NOT be explained in one sentence.

Really, if somebody strapped him in a chair and stuck a sock in his mouth, forcing him to listen, he might actually be able to get it.


12 posted on 02/29/2012 5:07:29 AM PST by Lee'sGhost (Johnny Rico picked the wrong girl!)
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To: Kaslin; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3; Impy; Pan_Yans Wife; ...
RE :”Last week, Bill did one of his “Talking Points Memos” on high gas prices, blaming oil companies for the price at the pump. He opened up by paraphrasing Lou Dobbs, saying, “…because of the mild winter, there is plenty of oil and gas in the U.S.A. So supply and demand here should dictate lower prices. But of course, they are not lower. They are much higher because the oil companies are shipping their products overseas. Measured in dollars, oil products are now America's largest export worth $88 billion a year to the oil companies.”

HA-HA, I had to stop watching BoR's CRAP about 5 years ago.

He tells his audience there is one guy in the world setting oil prices.

He strongly pushed for ethanol on his show about 2005, his gullible viewers really believe his snake oil sales antics claiming ethanol would make us ‘energy independent’. Well here we are again arguing about the next ethanol type scam-disaster electric cars.

BOR is just another liberal who doesnt want his taxes raised, much like a con-man Trump. He just tells his audience what he thinks they want to hear.

13 posted on 02/29/2012 5:09:17 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: USS Alaska
O'Reilly is an arrogant, self promoter with no real political groundings

And everything he knows about economics, he learned in Kindergarten.

14 posted on 02/29/2012 5:15:22 AM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: Kaslin

Bill O is dead wrong on this issue. The government makes more profit on a gallon of gasoline than the oil companies do and they don’t even lift a finger to do it . . . much less explore for it, negotiate leases, drill, transport, refine and transport yet again . . . and all done for you conveniently at the service station around the corner or down the block from you.

Compare that to a gallon of milk. Or a gallon of coca-cola.


15 posted on 02/29/2012 5:24:25 AM PST by Qwackertoo (Gingrich/West 2012)
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To: sickoflibs

I still watch the Factor and will probably keep watching because there are segments I do enjoy. As for the rest, thank God for the mute button


16 posted on 02/29/2012 5:33:09 AM PST by Kaslin (Acronym for OBAMA: One Big Ass Mistake America)
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To: Kaslin; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ...
RE “ Last week, Bill did one of his “Talking Points Memos” on high gas prices, blaming oil companies for the price at the pump. He opened up by paraphrasing Lou Dobbs, saying, “…because of the mild winter, there is plenty of oil and gas in the U.S.A. So supply and demand here should dictate lower prices. But of course, they are not lower. They are much higher because the oil companies are shipping their products overseas. Measured in dollars, oil products are now America's largest export worth $88 billion a year to the oil companies.

This is how con men like BoR and Dobbs appeal to their gullable viewers, making the US exporting oil out to be a negative. I got news for you Factor morons out there watching his show:
1) We import MUCH more oil than we export.
2) Since when is creating jobs here by producing and exporting a product for sales in other countries bad? That is called EXPORTING
WAKE UP, WE HAVE A HUGE TRADE DEFICIT!

With all the talk of corrupt politicians, the fact the so many Americans that believe such idiotic premises just BECAUSE THEY WANT TO is another reason we are screwed.

As I said, 5 years ago BoR was pushing ethanol on his show claiming it would make us energy independent. Well we are stuck with ethanol now!

BoR is such an A$$wipe.

Neil Cavuto did his final word the other day on the same subject, he pointed out that we are devaluing the dollar that we buy oil with. That is why I watch Cavuto and not BoR.

17 posted on 02/29/2012 5:34:17 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: Kaslin

Bill O’Reilly is a very lazy commentator. As soon as he heard Dobbs saying we export oil, he assumed he had found the villains. He is remarkably dumb.


18 posted on 02/29/2012 5:36:11 AM PST by Neverforget01 (Beating Romney is so easy McCain did it.)
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To: Kaslin

Bill O would rather run down the middle of the road to increase audience share, than stick to any particular set of principals.


19 posted on 02/29/2012 5:40:46 AM PST by G Larry (We are NOT obliged to carry the snake in our pocket and then dismiss the bites as natural behavior.)
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To: Kaslin
There should be a price advantage to "US" from using domestic oil. It's in the ground under our feet and it should belong to all Americans not the oil companies. They should be paid for the pumping and refining but the American oil should go to us and Canada first. (forget Mexico their a bunch of chaotic ingrates in a failed culture)

Let the rest of the world buy from the shieks and diaperheads. They are able to control the price through OPEC but with so much oil being discovered here we should get a break!

20 posted on 02/29/2012 5:41:15 AM PST by TPOOH (I wish I could have been Jerry Reed.)
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To: sickoflibs
Neil Cavuto did his final word the other day on the same subject, he pointed out that we are devaluing the dollar that we buy oil with. That is why I watch Cavuto and not BoR.

Up until recently, I had been watch Napalitano rather than BORe. Now that he is off the air, 8:00 PM seems like a good time of night to catch up on some reading.

21 posted on 02/29/2012 5:42:14 AM PST by BillGunn (Bill Gunn for Congress district one rep. Massachusetts)
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BOR is a typical, harvard educated fuzzy thinker. When I can stomach watching his show, which is rarely, I find myself thinking that he's a typical east coast elitist "deep thinker" of the sort that are currently "ruling" the American people.

Mark

22 posted on 02/29/2012 5:52:27 AM PST by MarkL (Do I really look like a guy with a plan?)
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To: Kaslin

I saw it and just thought what a hack. We are using less gas thanks to the Obama Meltdown and they have excess to sell around the world at higher prices.

He doesn’t let any oil people on his show to give their side of the issue, only Dobbs who knows nothing about oil. They both think evil Big Oil can make it any price they want.

Pray for America


23 posted on 02/29/2012 5:54:35 AM PST by bray (More Batting Practice for the Bambino)
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To: thackney
The US dollar has lost about half its previous value under Obama.

Oil prices have almost doubled in the same period.

O'Reilly can't seem to figure out the correlation, but a fifth grader can.

24 posted on 02/29/2012 6:00:23 AM PST by eCSMaster (Conservative patriots, Rise up!)
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To: sickoflibs
"Neil Cavuto did his final word the other day on the same subject, he pointed out that we are devaluing the dollar that we buy oil with. That is why I watch Cavuto and not BoR."

Cavuto is spot on and Monika Crowley mentioned this when on the Factor last week, but O'Reilly just ignored her and continued to push the narrative Dobbs has been spewing lately.

The truth is that gas prices are high for several reasons, but the two main ones are due to an insane monetary policy and energy policy and both these issues can be tied directly to our current administration.

25 posted on 02/29/2012 6:00:59 AM PST by Carbonsteel
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To: Kaslin
Oil is priced in US Dollars, which Fedzilla has been de-valuing with high deficits, high debt, and "selling" Treasuries to the Fed in exchange for more printed (and worth-less) dollars.

O'Reilly ignores this fact.

26 posted on 02/29/2012 6:02:07 AM PST by DTogo (High time to bring back the Sons of Liberty !!)
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To: Kaslin

Bill is simple-minded. That’s not his fault. But being ignorant is.


27 posted on 02/29/2012 6:03:29 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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To: DTogo
The US dollar has been 'devalued' for some time now and is currently in the same range it was when gasoline was much cheaper.

Ron Paul ignores this fact

28 posted on 02/29/2012 6:04:58 AM PST by mac_truck ( Aide toi et dieu t aidera)
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To: Kaslin

The problem is that there is a grain of truth to all of these arguments. Yes exporting oil and its products does provide American jobs. Yes speculators do run the price up a bit. I support drill here drill now, but if we are only going to sell the products to foreign countries and not realize a benefit to everyone in our economy by means of a price reduction, why bother. A dollar a gallon across the whole economy would be a tremendous stimulus. Better than anything the government will ever do. And as far as the speculators go, why should every barrel of oil be bought and sold many times over? That only benefits a chosen few and is harmful to our economy and our national security. That is why if you buy oil, you should have to take delivery. The bottom line is that the price of fuel is killing our economy and helping our enemies to profit in the mean time. This goes way beyond making a quick buck in the markets.


29 posted on 02/29/2012 6:08:19 AM PST by Racer1
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To: Kaslin
Has FOX News 'Jumped The Shark' Over Mitt???

FOX News may have 'jumped the shark' over mittens

Fair and balanced is Juan McCain

I for one have had enough of the ‘wisdom’ of Bill Kristal, Chas. Krauthammer, Ted Baxter, Bret Beahr, Toyko Rove, Ann Colter, Chris Wallace, Sean Wannabe, Dana Parino, Brit Hume, Shep Smith, Judge Jeanene, Alan Comes, Bob Beckle, Juan Williams, Whoraldo, P.T. Trump, et. al. all acting the part of the Romney cheerleading squad

Does anyone else 'feel my pain'?

.

Name ONE true conservative who is regularly on FOX

There is clearly a hunger and a market for honest news and honest conservative news - and it is clearly not FOX

with apologies to Ted Knight ….Find O'Reilly:

.

30 posted on 02/29/2012 6:10:58 AM PST by Elle Bee
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To: duckman

Same here but have a friend who worships him and who goes on and on about “big oil” And he thinks the Bushes are still manipulating someplace.


31 posted on 02/29/2012 6:12:51 AM PST by mcshot (What happened to the US flags at the Presidential podium?)
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To: throwback
Same for me. If the author is a fan of O'Reilly (other than for whatever entertainment can be had watching a blowhard idiot), then what follows isn't likely to be insightful.

"O'Reilly" and "Reality" in the same title too ... snicker.

32 posted on 02/29/2012 6:14:10 AM PST by Cboldt
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To: throwback

“I’m normally a fan of Fox News host Bill O’Reilly. Lost me right there.”

Yeah, O’Reilly is wrong on the oil/gas situation and has been for a long time. He’s wearing thin on me too. I get tired of him running his pie hole constantly and talking on top of his guests. I sometimes watch him if certain guests are on. As an example, Laura Ingram seems to be able to handle the old pervert ok. So, I’ll watch when she’s being interview - or hosting, even better.


33 posted on 02/29/2012 6:16:05 AM PST by snoringbear (Government is the Pimp,)
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To: Kaslin
"Democrats need it to distract from the fact that high gasoline prices are something they’ve wanted and advocated for years"

Not 'Democrats' but the self-appointed elite leaders of the Democrat Party, plus the arrogant leaders of the 'greenies.' My bet is that if found found yourself a Democrat on the street nd asked them, they would HATE high gas prices. Hint for the eventual GOP candidate.

34 posted on 02/29/2012 6:20:30 AM PST by I am Richard Brandon
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To: Kaslin

God forbid that the Boeing Company would buy materials at world market prices and assemble an airplane and sell the plane to a foreign buyer. I guess all of the new Dreamliners with a 10,000 mile range should only be used within the US.


35 posted on 02/29/2012 6:26:04 AM PST by calico_thompson
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To: Carbonsteel; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3; Impy; Pan_Yans Wife; ...
RE :”Cavuto is spot on and Monika Crowley mentioned this when on the Factor last week, but O’Reilly just ignored her and continued to push the narrative Dobbs has been spewing lately. The truth is that gas prices are high for several reasons, but the two main ones are due to an insane monetary policy and energy policy and both these issues can be tied directly to our current administration.

We had the same problem 2006 to 2008 (for many of the same reasons as now too) and BoR and Dobb’s were pulling the same crap as now and BoR started pushing ethanol on his show claiming it would make us energy independent, and then boom, GWB and Pelosi pass into law the 2007 energy bill that mandates ethanol.

Back ~ 2007 Cavuto went on BoR’s show and tried to reason and BoR just accused Cavuto of being in the pockets of the greedy oil companies much like an Al Sharpton would do on MSNBC. I cant watch this a$$wipe, he really is targeting the gullible as Trump does,

36 posted on 02/29/2012 6:32:28 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: Kaslin; P-Marlowe; wmfights
I think OReilly has a point here.

When gasoline supplies were “low” due to “refining capacity” we were told pump prices had to go up. When gasoline supplies were “high” (like now) due to mild weather, low winter driving, etc., we're told that prices have to be “high” because the demand elsewhere is “high” so the gasoline gets shipped elsewhere.

I say BS to that last.

There is no way in the world that you can ship to here, refine here, reload a tanker, and then ship halfway around the world cheaper than you can sell here.

Why?

Because gasoline doesn't really cost $8 a gallon in Europe. The refining cost is roughly the same, the process is the same, and the product is the same. If it costs $2 here by the time refining is completed, then it costs $2 there, plus or minus a bit for wage costs. What's the difference between $2 and $8?

$6, but there is a difference because those governments tax the hell out of it. That's all cash in government pockets.

And that's what Obama wants here. $2 gas costing $8 with $6 a gallon going into the pocket of big government.

So, can you take that $2 refined gasoline and ship it to Ohio and sell it for $3.50 and make money ASSUMING no government will be intervening? They do here, so they can here.

Can you take that $2 refined gasoline and ship it elsewhere and generate somewhere around $1.50 if everything else is equal? No, you can't. Shipping 12,000 miles must cost something and then there's the entire distribution costs still to be met once you arrive at that far flung port.

Where could ANY possible profit come from? I'd say it's from that $6 worth of “difference” that the foreign government is collecting.

IOW, the intervention of foreign governments insuring a payback is the only thing making it profitable for the oil companies to stiff the American consumer.

In short, the American consumer will pay more at the pump to further the import objectives of hostile foreign governments.

37 posted on 02/29/2012 6:38:51 AM PST by xzins (Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
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To: St_Thomas_Aquinas

BOR is equally ignorant when it comes to so-called ‘separation of church and state’ when he took off on Santorum for ‘vomiting’ over the JFK remarks about not being guided by Catholic morals in the presidency.

Santorum’s point was that he would hope a president would be guided by such morals.

This ticked me off so much that I finally had to send my first email to BOR which went like this:

So when it comes to a vote on the infanticide bill in Illinois that senator Obama passed, whose morals are you going to follow: Obama, JFK, or Santorum ?

Don’t tell us that what you call “sanctimonious religious morals” don’t have a place in public policy.

And before you get on your usual sanctimonious high horse, be honest and answer the question without evasion - Obama, JFK, or Santorum ?
Or are you going to split the baby in half?


38 posted on 02/29/2012 6:47:50 AM PST by A'elian' nation (Political correctness does not legislate tolerance; it only organizes hatred. Jacques Barzun)
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To: TPOOH
it should belong to all Americans not the oil companies.

It "belongs" to the owner of the mineral rights. Those rights are leased to an oil company to produce.

Most of the owners of those oil companies are individual investors in retirement funds, mutual funds and other personal investments. Why do you think those people should be forced to sell the product at a below market rate?

They should be paid for the pumping and refining but the American oil should go to us and Canada first.

Nobody is denying access to crude oil, gasoline, diesel, etc. We still import more crude oil than we produce ourselves so we are quite dependent on world oil pricing.

39 posted on 02/29/2012 6:49:28 AM PST by thackney (life is fragile, handle with prayer)
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To: A'elian' nation

Good letter. He drives me nuts too. But I usually enjoy his guests, and his Barney Frank interview justified his existence.

Still, I find myself tuning out more often.


40 posted on 02/29/2012 6:54:32 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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To: Kaslin

O’Reilly is tacitly supporting the Obama strategy, which is to go after Oil Companies and Grrrrrreedy Commodities Traders with Stalinist show trials should this still be dragging down his poll numbers by summer.

Obama could successfully (and briefly) bring prices down by collapsing the futures market. After that it would be Back to the Middle Ages. So timing is everything.

Fox in general seems to be on board with this. One of their business correspondents the other day said that oil “is no longer obeying market fundamentals”. And if the fundamentals no longer apply, well then, gosh who needs those nasty old markets anymore?


41 posted on 02/29/2012 7:00:50 AM PST by Buckeye McFrog
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To: sickoflibs; Kaslin; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3; NFHale

” BoR is such an A$$wipe.”

All you needed to say....


42 posted on 02/29/2012 7:10:04 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: Kaslin

The media now has people thinking we produce so much oil in this country that we have to export it. One of the big media lies to fool the stupid.


43 posted on 02/29/2012 7:10:59 AM PST by kempo
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To: thackney
"We still import more crude oil than we produce ourselves so we are quite dependent on world oil pricing. "

Not true...we are now exporting importing and there is a glut of oil on the market.....ecess supply.....the price shoud be much lower.

44 posted on 02/29/2012 7:12:35 AM PST by TPOOH (I wish I could have been Jerry Reed.)
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To: TPOOH
I think the reason the gas prices are cheapest in the middle of the country is because of domestic oil production and refining. California is just insane. Leftist policies have driven gas through the roof.


45 posted on 02/29/2012 7:24:23 AM PST by FreeAtlanta (Liberty and Justice for ALL)
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To: stephenjohnbanker; Kaslin; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3; NFHale

O Reilly told us ethanol would make us independent of oil, much like Trump said he would as POTUS just call up those what he called god$^# arab mother$#&%$ers on the phone and demand that they sell us oil cheap or he would send in the tanks.


46 posted on 02/29/2012 7:29:27 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: stephenjohnbanker; Kaslin; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3; NFHale

O Reilly told us ethanol would make us independent of oil, much like Trump said he would as POTUS just call up those what he called god$^# arab mother$#&%$ers on the phone and demand that they sell us oil cheap or he would send in the tanks.


47 posted on 02/29/2012 7:29:27 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
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To: TPOOH
We still import more crude oil than we produce ourselves so we are quite dependent on world oil pricing. "

Not true...we are now exporting importing and there is a glut of oil on the market.....ecess supply.....the price shoud be much lower.

I am sorry but you are confusing refined product with crude oil. Click the following pictures for the data sources.

The tiny amount of crude oil we do export goes almost entirely to Canada. It is really a function of closest refinery to that particular oil production.

With our falling domestic demand for refined products, combined with many years of upgrading and expanding our US refineries, we have recently started refining more product than we use. The result is a little bit of net export of refined product. To stop this, we would need to shut down some refineries leaving us short when our economy finally picks back up.

But when you look at ALL petroleum, Crude oil and refined products taken together, you will see we are a significant importer and greatly dependent on world prices.

Even if were we were independent, I don't understand the concept of forcing our production below market value. Should Wisconsin dairy farmers be forced to sell their products at half the price domestically for their price in neighboring Canada just because you want it cheap but did nothing for it?

48 posted on 02/29/2012 7:34:53 AM PST by thackney (life is fragile, handle with prayer)
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To: TPOOH; thackney

I don’t blame oil companies from exporting oil, if they can get better pricing by exporting. In fact, I would be angry at them if they didn’t. We need our trade deficit reduced and oil exports can help do that.

The key to getting our domestic fuel prices down is consumption and supply.

We actually need to stop decreasing consumption because oil companies are trying to raise prices to match previous income. They have infrastructure to support, unless we want them to fire people and close facilities. The bad economy is creating less travel and less consumption, so the economy has to be improved, but the increase in fuel costs is hurting all aspects of our economy. It is a vicious cycle.

Increasing domestic drilling and exporting to the international market will help our own economy and will help increase consumption which will hopefully get the gas stations competing again low prices to get increase volume.

It is complex. That is why shallow people like BOR and other lefty leaners have difficulty understanding it. They are not abstract thinkers.


49 posted on 02/29/2012 7:36:13 AM PST by FreeAtlanta (Liberty and Justice for ALL)
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To: FreeAtlanta

Gasoline taxes also are a part of that difference.

http://gasbuddy.com/Tax_Info.aspx


50 posted on 02/29/2012 7:37:36 AM PST by thackney (life is fragile, handle with prayer)
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