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  • One, they may not have known when they signed the lease.

    Oil leases are a form of speculating.
    It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
    RIP Tony Bogey & Baron O

    Comment


    • Why would oil companies spend money leasing land where it's unprofitable to drill?
      Why did people buy useless swamp land in Miami in the 60s?

      One, they may not have known when they signed the lease.
      Exactly. Or they did drill there already but the fields were depleted to the point of no longer being profitable now, but will be again eventually.
      "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

      Comment


      • From the Wall Street Journal:

        Obama Offers Support
        For Offshore Drilling
        Backing Linked
        To a Compromise
        On Energy Bill

        By AMY CHOZICK
        August 4, 2008; Page A4

        CHICAGO -- In the latest sign of a shift on a key issue, Democratic presidential contender Barack Obama said on Saturday he would support an expansion of offshore drilling as part of a broader bipartisan energy bill.

        Critics are branding this a flip-flop, but Sen. Obama is citing it as an example of a central tenet of his candidacy: a willingness to bridge divisions to address long-festering problems.

        "If we can come up with a genuine bipartisan compromise in which I have to accept some things I don't like or the Democrats have to accept some things they don't like...that's something I'm open to," Sen. Obama said at an Orlando, Fla., news conference. He is expected to deliver a major speech for dealing with the rising cost of energy on Monday in Lansing, Mich.

        Comment


        • Pelosi is going to be pissed
          Last edited by Patroklos; August 4, 2008, 14:53.
          "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

          Comment


          • To be fair, that's more about getting energy interests to fall in line when he has to pass cap and trade than a genuine flip flop (i.e. FISA).
            "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
            -Bokonon

            Comment


            • Originally posted by Ramo
              The strategic oil reserve release, the gas tax holiday, the excess profit tax, drill everywhere: it's all bull****. But, as I've been saying, the McCain proposals are obscene compared to Obama's.
              The purpose of the excess profit tax would be to raise tax revenue. Those other things mentioned would have other purposes. The excess profit tax would do exactly what it is intended to do.
              I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
              - Justice Brett Kavanaugh

              Comment


              • The purpose of the excess profit tax would be to raise tax revenue. Those other things mentioned would have other purposes. The excess profit tax would do exactly what it is intended to do.
                Jack up gas prices?
                "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

                Comment


                • Would be a good thing.

                  JM
                  Jon Miller-
                  I AM.CANADIAN
                  GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.

                  Comment


                  • Would be a good thing.
                    Obama agrees with you, what about the voters?
                    "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

                    Comment


                    • Originally posted by Patroklos
                      Jack up gas prices?
                      A tax on the profit a company makes is different from an excise tax. The price that a company maximizes it's profit will be at the exact same place as without the tax. If it lowers it's production it will make even less after-tax profit.
                      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                      - Justice Brett Kavanaugh

                      Comment


                      • Who said anything about lowering production?
                        "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

                        Comment



                        • The purpose of the excess profit tax would be to raise tax revenue. Those other things mentioned would have other purposes. The excess profit tax would do exactly what it is intended to do.
                          So prices go up, and then there's a big fat tax credit. Allowing consumers to buy more fuel. The worst part about it is that it's only for one year. There's no incentive to change long term behavior. It's basically a net wash, minus administrative costs.

                          If there were some long term infrastructure investment we used the money with - mass transit, alternative energy, etc. - there might've been some merit in the proposal.
                          "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                          -Bokonon

                          Comment


                          • Originally posted by Patroklos
                            Pelosi is going to be pissed
                            There's nothing more fun than dousing the Wicked Witch of the West with a big bucket of water.

                            Comment


                            • Originally posted by rah

                              Because if left to their own recourse, people would choose not to pay for it and rely on their neighbor to do it. Kind of like Europe.
                              Except that the Europeans have realized that the same principle operates with things like health care and other insurance products. If you leave it to the market, then people stand around holding their nuts.

                              It's strange that you can accept this principle in the case of defence, but not say in health care and education.

                              American reluctance to pay tax is the primary cause of the Canadians doing better than you, even though they are less rich.

                              I prefer the Goverment to tax us and make everyone pay their fair share.
                              It's not really about paying fair shares as much as it is making sure that people's needs get satisfied.

                              And I think McCain lines up better with my personal beliefs. He has done a lot in his life where I don't think Obama has done anything yet, so I'm not sure if he ever will. I like the man, but not ready to be led by him.
                              If what you said above is true, then McCain does not line up with your beliefs in an important respect.
                              Only feebs vote.

                              Comment


                              • Ah, burried safely in the non site PDF...
                                I just want to add that a PDF that's hosted by barackobama.com and can be easily gotten to by clicking a link on the Summary page for Energy is clearly not "non-site."
                                "Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
                                -Bokonon

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