1% of TOTAL world oil production is nothing?
Are there any figures for how much oil could be drilled from the continental shelf?
What Industries Should the US Nationalize?
- Thread starter Mark1031
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1% of TOTAL world oil production is nothing?
Are there any figures for how much oil could be drilled from the continental shelf?
A negligible impact is still an impact. Combined with the fact that we would be hiring American companies and American workers to drill and transport the oil, the benefit to the US would be substantial.
Commodities are booming all over the world, and demand does not seem to be letting up any time soon. Why the US should not take advantage of its vast natural resources in a time when every other country on the planet is doing so, and doing so very profitably, is beyond me.
Patroklos
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The commodity cost is just one of the expenses of producing gasoline. Remember, we don't just buy oil and then put it in our cars on site. Crude oil is priced almost exclusively by supply available and demand for purchase. All the fun stuff after the purchase like transport, refining, distribution, TAXES, happens after that.
Hardly. Do you think it is cheap to transport hundreds of tons of oil across the globe, then through a port to refiners, then whatever the costs of refining is (Amazingly expensive facilities), and then transporting the gasoline to distributers? Honestly?
There's no corresponding united national will to nationalize the energy sector, or anything like that. People pulled together, and accepted strict rationing to win WW2, because they were patriotic and wanted to kick some Axis butt for backstabbing us. Somehow, I doubt they'd be quite as energetic in the pursuit of government control for the sake of control.No I want the guys who ran the Apollo program and won WWII to take over.
Honestly - what large scale initiative or plan by the federal government hasn't turned into a boondoggle, in recent years? FEMA? Social Security? Medicaid? No Child Left Behind? Oh yes, the government has succeeded so fabulously so far with disaster relief, pensions and education that we should expand it to healthcare and energy and finance.
I'm being sarcastic, of course - maybe you can think of something....but pretty much the everytime I see the federal government try to do something that isn't more complicated than "blow that guy up" they turn it into a mess. I'd rather not have them running half the economy, thanks. America just plain sucks when it comes to socialism, or anything that even remotely sounds socialist.Don't be partisan.Thankfully, those guys will be out of office soon
Republicans working in the government just suck, in general. All the smart ones are in the private sector and they appoint incompetent people to government positions, in my opinion, just to prove a point
The problem isn't Republicans or Democrats, it's just sucky government in general. Blaming it on one party alone ignores half the problem.
JohnRM
Don't make me destroy you
Nothing, in my opinion.
Nothing in terms of global supply, but instead of the Saudi's profiting, US companies would be. They would also happen to be employing more American workers, with the drilling being done in the U.S.
Thats also assuming you are correct in OPEC cutting production, since they've stated their expected price for oil to be down around 75 dollars per barrel.
Patroklos
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All that money that goes to either shareholders OR capital investments is still all reported in their rate of return, which is still the same and in line with corporate averages. Or in other words, the increas in gasoline prices are not due to gouging, but rather increases in base commodity prices. Common sense wins again, you fail.
lovett
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Health care, simply because it seems to work better nationalised. In terms of finance and general puplic health. And as it goes, I just don't buy the 'We're really stupid and can't run public sector organizations' arguement coming from some people. It's ridiculous. Even if one was to accept the absurd proposition that somehow the US makes up a quarter of the worlds GDP without any organizational skills, that's what immigration's for. Buy expertise, buy management skills. A lot of countries have nationalised health care which ticks along quite nicely. Buy their managers.
So import some Europeans to run your social programs, and get your military to blow up guys who interfere.
a_propagandist
The Light Brigadier
The Feds only take around 14 cents, I believe.
Yeah, each oil rig requires tens of thousands of employees, right? And the oil companies already have the legal and financial capabilities to start drilling.
So why wouldn't OPEC cut production to force prices up?
The oil companies certainly have the financial capabilities, the legal capabilities, not so much.
Who cares if OPEC cuts production, their loss, our gain.
In 30 years electric cars will be taking over.
Huayna Capac357
Deity
Everything, Comrade!
Merkinball
Deity
Idiots of the world eh Mark? Classic...
Yes idiots. People with so little knowledge of economics or current affairs that they hold positions that are demonstrably factually untrue. I'm not running for election so I can call them idiots. It seems that the only thing Republicans are running on is trying to convince idiots that the other side thinks they are idiots. (In fact both sides know they are idiots).
History_Buff
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I wasn't saying it's a bad idea per se, just that it won't effect American fuel prices. I still don't agree with drilling in ANWR though.
I could care less if we drill in ANWR. Because it's not going to affect the price at the pump. The oil companies are not drilling on the territory already open to them, so why should we be rusing into giving them more territory?
Domestic drilling only really matters (wrt energy prices) if the drilling is nationalised. I think drilling is a good idea economically. It's a bit of a Red Herring in this thread.
I think that some types of energy policy can be nationalised, since (e.g.) cities can form coalitions to build energy sources and fund it using their tax dollars. I don't know if such efforts should be done at the national level, though. Energy sources tend to be very efficient at the monopoly level, and a nationalised energy plan can include incentives for diversity and sustainability. My current utility is NOT interested in me moving to solar, and is not helping me except that it's being forced/bribed to by my province.
I think that nationalising health care would show good long-term benefits
I have no idea what a nationalised financial system would look like, though the top of the financial system is nationalised already (what with the Federal Bank and all)
Elrohir: Social Security is a raging success. I know people don't like to emphasise it, but it's actually built a lot of wealth and has been a very good investment.
I think that some types of energy policy can be nationalised, since (e.g.) cities can form coalitions to build energy sources and fund it using their tax dollars. I don't know if such efforts should be done at the national level, though. Energy sources tend to be very efficient at the monopoly level, and a nationalised energy plan can include incentives for diversity and sustainability. My current utility is NOT interested in me moving to solar, and is not helping me except that it's being forced/bribed to by my province.
I think that nationalising health care would show good long-term benefits
I have no idea what a nationalised financial system would look like, though the top of the financial system is nationalised already (what with the Federal Bank and all)
Elrohir: Social Security is a raging success. I know people don't like to emphasise it, but it's actually built a lot of wealth and has been a very good investment.
