the prices of oil dropped to $111 today. and you know why? because under the usa there is more oil shale then there is in all of saudi arabia. we just arent allowed by the government to dig up the oil because they dont want us to drill in our mountains. here is a chart of how much oil is in our mountains. the prices of oil dropped in 3 days because we threaten to dig up our own oil and thats the last thing the middle east wants so they drop their prices, oil is not running low and when we really need it, we have it.
i don't want to dig up the mountains but i don't wanna be paying 4 bucks a gallon either, becasue even though oil prices are down 15%+, the price of refined oil at the pumps is only down 3%, while the oil companies are making BILLIONS in profits. the exec of shell said on goodmorningamerica that the reason they need to make such a huge profit (like 30-something billion?) is so they can reinvest it back into research for alternative fuels.. but i bet hes still pocketing half of that
bush just started allowing off shore drilling for oil so hopefully that helps but i mean shit if we have to dig into the mountains then let it be, I dont got the money for gas and i dont plan on using any other source for driving
Despite the fact Exonn and and such do make ridiculous profits, but around 40% of that is paid in taxes, and they do spend billions every year just in the search for more oil alone.
What a tool, they start drilling now we wont see that oil for 10+ years. Lol shit, stop watching fox news kid.
I think that thing that was passed about oil speculators not being able to publicly speculate prices has helped
well taxes has ntohing to do with it right? like if they made less money, they would have to pay less in taxes, i'd figure
This is true, but I'm just making the point Exxon pays $28 billion a year in taxes which goes into the system we all use. Also, oil shale poses many more envirormental issues then most normal oil drilling/processing And for people who argue the we won't see the oil for years, yea we won't, but guess what, in 5, 10 years, hey we're still going to need oil, and more of it as the world grows.
