Comments on: Blame it on “Big Oil”

By: Lucius B. Gravely, IV

Lucius B. Gravely, IV — Fri, 09 May 2008 12:05:07 +0000

Jane,
You, I and all conservtives must beat this drum and beat it loud and long!
If ever there were an indictment of our school system then all one would have to do is point to the fact that the left can demagogue the “profit” with out mentioning the “profit margin”–and no one is the wiser!
It’s the same way a failing business can conceal it’s sad state of affairs by talking about hving a good “cash flow”–with the problem usually being that the cash is “flowing” out in the form of red ink!
Keep up the good work!
Besides, the arguments about surplus and controlled refining are shot down when one looks at the reluctance of our pols to actually do anything about getting more oil–all that has been done for 12-20 years is talk! Drilling is the answer!
Keep up the good work!
Luke

By: mike2616

mike2616 — Thu, 08 May 2008 16:38:55 +0000

Ms Chastain has joined the multitude of conservative apologists for big oil. But what I never see talked about is how so much of this problem of people viewing Big Oil as greedy and uncaring is of their own making.

Look at what happens when a disaster strikes, such as a hurricane. Almost without fail, waht do you see? Budweiser immediately switching their lines to produce bottled water and sending their trucks to the site. Store such was Walmert and Home Depot kicking in to help. Big companies of every sort donating to Red Cross and other help agencies.

And who is nearly always missing? Big Oil. I have purposely carefully read newspaper articles and looked through donar lists and found so many companies and individuals going for the good will. But Big Oil acts like the bully in the corner with all the marbles who refuses to let anyone even play with one.

Then they run crying to conservative bullhorns when officials turn on them and say, “those greedy s.o.bs, if they won’t ever help when asked then I guess we will just have to pry it out of their greedy fingers!”

And I say go to it. They deserve everything they get. And hopefully, one day, everyone will be driving hybrids and generating with solzr and wind power. And the fat cats and shieks will be left with barrels of oil that no one wants.

By: Darrel Mulloy

Darrel Mulloy — Thu, 08 May 2008 16:31:27 +0000

Thank you Jane. It is imoportant for people to understand that the “high profits” that oil companies are making are no higher than most other businesses make, and in fact are much lower than those of such as MicroSoft, Intel and other tech companies that are not as important to our lives as things related to oil. The big tragedy of the oil crisis is going to be the food shortage created by the use of food crops to suppliment the alleged shortage of refined gasoline. As far as the government removing the tax for just the summer is concerned, I’m afraid what we would see is gas prices remaining as they are now during that period, and then a jump of at least 18 cents a gallon after they are reinstituted. Until we get rid of the Chuck Schumer mindset in Washington and begin drilling in our own land and offshore where we can, we won’t see any drop in prices.

By: Minos Gordy

Minos Gordy — Thu, 08 May 2008 15:28:14 +0000

When oil prices go up production sharing contracts with host countries abroad require that more production be shared with host countries. This reduces the quoted output of the operating company, as recently reported by ExxonMobil.

Refiners find it more economical and practical to improve throughput in present refineries than to build new ones because of environmental restrictions, long lead times, etc. However, this increases our vulnerability to storms and terrorism.

Companies like ExxonMobil spend more on share buy-backs than on E&P or capital improvements because of the lack of prospects. Examples of denial are Point Thompson and ANWR in Alaska as well as the moratoriums on our East and West Coasts.

By: Michelle

Michelle — Thu, 08 May 2008 13:56:44 +0000

I would love to buy stock in oil companies! If only I had money left over after buying groceries and gas.

By: Mike

Mike — Thu, 08 May 2008 13:46:50 +0000

Very well written.

By: Dana Hatch

Dana Hatch — Thu, 08 May 2008 11:34:59 +0000

As someone who works in the Industry, the one thing you missed in the article was the fact that it is not in the best interest of oil companies to build new refineries. The notion that they cannot build any new ones is corporate spin. By limiting the number of refineries the price of gas can be controlled.