Energy Independence

[Gaspar]

Pretty much every country that has ever flourished has its own natural resources to thank for it. Exploiting those resources are what created true wealth. Only after China exploited their resources are they now able to spend all this money to research alternative energy.

They also exploited, and continue to exploit their people.  Humans are just resources to them too.

[RecycleMichael]

Why on Earth would you want to use our oil up first?

Winner!

[nathanm]

Humans are just resources to them too.

No different than most US companies. We (theoretically) have some laws to help that out, though.

[Conan71]

You're late to the party my friend. Economic indicators are looking relatively good given the uncertainty surrounding Europe and energy prices are declining. (thank China for that) How long would it take to bring this field online? It usually takes more than 5 years to get significant production, does it not? Seems to me like we'd be better off continuing to wean ourselves off oil as much as possible and save it for making plastics and fertilizer after everybody else's oil runs out.

Why on Earth would you want to use our oil up first?

We need to quit using this excuse one presidential administration after another.  Unfortunately, there's still no real alternative other than modern versions of farm programs.  Get government to quit treating alternative energy like a farm subsidy program and we might be on track to real energy diversity.

[nathanm]

Get government to quit treating alternative energy like a farm subsidy program and we might be on track to real energy diversity.

Wait, what? Solar manufacturers get paid by the US government for each panel they produce? I don't think so. They do get loans, but as I recall ethanol is the only "alternative" energy source getting per-unit subsidies.

[AquaMan]

What kind of frontier gibberish is that?

Part of it is referring to a rumor as to why certain oil companies left Tulsa for big city, glitzy Houston, only to find out it is ....Houston. The other part was just idle observation. I truly have never met an oil company employee who isn't pissing and moaning about how badly they are treated and how thankful we should be to them.

What is frontier gibberish?

[Hoss]

Part of it is referring to a rumor as to why certain oil companies left Tulsa for big city, glitzy Houston, only to find out it is ....Houston. The other part was just idle observation. I truly have never met an oil company employee who isn't pissing and moaning about how badly they are treated and how thankful we should be to them.

What is frontier gibberish?

Yeah, I found that out in 1991 when I moved to Houston from Tulsa.  Kinda neat for about two months, then the traffic, lack of zoning (back then there was none, so city street corridors could have 50 story high-rises and many still do).  Oh, and traffic.

Did I mention traffic?

[heironymouspasparagus]

Sorry, I just saw the optimistic side of things.  I'm sure that if we invested just half of what we speculated on bankrupt solar companies in the last 3 years, we could overcome all of the challenges. 

We've "invested" dozens of times that amount in oil in the last 3 years.  Where you been hiding??

[heironymouspasparagus]

Pretty much every country that has ever flourished has its own natural resources to thank for it. Exploiting those resources are what created true wealth. Only after China exploited their resources are they now able to spend all this money to research alternative energy.

What???  Where did you study history??  The entire history of successful civilizations has been about the colonial efforts of those civilizations - going to other peoples homes, killing many, enslaving more, and taking all the good stuff they had!! 


Did you not watch the movie "Avatar"?  It is a short world history program....

[Red Arrow]

What is frontier gibberish?

See "Blazing Saddles".

[Conan71]

We've "invested" dozens of times that amount in oil in the last 3 years.  Where you been hiding??

Got a link to prove that spurious comment?

[heironymouspasparagus]

Got a link to prove that spurious comment?

Not spurious.  Gospel.

Intangible drilling costs - seems like most of that would be stuff that any other industry would have to recover over the life of the investment, rather than expensing.

Percentage depletion allowance - get the deduction, even if more than the total well value.

Passive investments - different from most - to the benefit of the company.

But then, there is always this....

http://www.energybulletin.net/stories/2011-05-04/top-5-myths-about-subsidies-oil-companies

[Conan71]

Not spurious.  Gospel.

Intangible drilling costs - seems like most of that would be stuff that any other industry would have to recover over the life of the investment, rather than expensing.

Percentage depletion allowance - get the deduction, even if more than the total well value.

Passive investments - different from most - to the benefit of the company.

But then, there is always this....

http://www.energybulletin.net/stories/2011-05-04/top-5-myths-about-subsidies-oil-companies

Substituting op-ed for fact.  Check.

[nathanm]

I think it's funny how spending in the tax code is considered a subsidy when it benefits certain groups, but when it benefits certain other groups they're just normal business expense deductions (that nobody else happens to get). It's like people just don't believe that companies are smart enough not to spend more on lobbying than they get in return. Or they think people who report on the various custom-made loopholes for billion dollar corporations are lying or something.

[heironymouspasparagus]

Substituting op-ed for fact.  Check.

You are absolutely right...that little op-ed was some propaganda - anti-propaganda to the oil industry distortions put out to scare and intimidate people into just shutting up and sitting down so they can go about their business without "unwarranted government intrusion" - like any kind of regulation.


The first three things, which were so quickly jumped over are just some of the benefits that big oil gets that other industries don't.  Want to address them?  One of my favorites is the intangible drilling costs...fun with accounting!