truthwillnotbesilenced asked:


Do people understand that oil wells have a 15-20 year life cycle, that most of the wells producing now were drilled 7-10 years ago? You make an investment decision based on the budgeted return and nobody 10 years ago anticipated that oil prices would be this high now. As a result fewer oil wells were drilled. And now the cost of drilling for oil and for gas has grown exponentially (which is why I told you people to buy BRNC two months ago - I did, and I’m up $2.75/share) - a cost that typically is shown on the cash flow statement - and if it isn’t that means that if you read the rest of the 10-K you’ll see that the E+P firm’s reserves are down, which is why E+P companies trade at such low P/Es).

If you think “big oil is raping us” then go buy some stock in an E+P company - you might wonder why Wall Street isn’t following your lead though.
BS the point is that to stay in business they have to maintain their reserves - profits are way up but so is the cost to drill, thus what goes in goes back out - the main reason big oil stocks have come up is that they HAVEN’T reinvested all the profits in new exploration, they’ve furthered their forward integration (Mobil does more marketing) and they’ve bought back stock (again XOM) - XOM’s performance adjusted for the stock buyback isn’t any better than the broader market.
Seriously - read a CASH FLOW statement.

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THE WRAITH OF GOD IS COMING asked:


Thus avoding 90+ to 100 dollar of oil a day.

I know people will starve around the world, but hey will have fuel and the middle east can eat their oil or trade for food from China and we know what that means, lead in the food.

I say it is a total win sit. what say you?

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driveranderson asked:


Germany exempts coal, so Why not the U.S.? Norway exempts oil so Why not the U.S.? Bio-Fuels are exempt also so where is the Cap?
Europe also over-sold credits and England Cheated on their Carbon Emissions by 26 basis points. Would you agree that blaming Carbon on Foreigners on your soil should be counted as yours in the earth sense because thats where the Carbon is.

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Buddy_Lee_Hombre_de_accion asked:


Do they really have anything to do with it? I always believed that our economy lives and dies on our companies. It’s hard for a country to not trade with you if you have a necessary product (oil) or put out good products, regardless of the leadership.

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Byte Me asked:


High tech, oil, chemicals, advanced farming techniques, military prowess, trade connections throughout the Muslim world through the Arab component, throughout the west through the Jewish component, strong traditions of scholarship and education in both cultures…

If the zionists and the jihadists were removed from the equation so that such a state could be built, would it be a superpower from Day One?
.

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ervin_parker asked:


How many of you were aware of this? I haven’t heard any of the conservatives NEWS, or radio shows discussing this tasty morsel? Does this imply that Conservative talk radio and supposedly news media are really merely entertainment venue espousing only topics their listeners agree with?
——————————————–
NEW YORK (Reuters) - Texas oilman David Chalmers and two companies he owns pleaded guilty on Friday to paying millions of dollars in secret kickbacks to Iraq in connection with the United Nations oil-for-food program.

Chalmers, 53, pleaded guilty in Manhattan federal court to one count of conspiracy to commit wire fraud, just weeks before he was due to go on trial with Texas oil tycoon Oscar Wyatt.

Earlier on Friday, Ludmil Dionissiev, a Bulgarian oil trader based in Houston, pleaded guilty to smuggling. Prosecutors said Dionissiev, 61, worked with Chalmers to buy Iraqi oil for Chalmers’ companies — Bayoil USA Inc and Bayoil Supply and Trading Ltd.

The $67 billion oil-for-food program began in 1996 and ended in 2003 to ease the impact of sanctions imposed on Saddam Hussein’s government after it invaded Kuwait in 1990.

The charges against Chalmers and his co-defendants stemmed from Iraq’s requirement from 2000 to 2003 that recipients of oil should pay a secret surcharge, in violation of U.N. sanctions and U.S. law, to front companies and bank accounts controlled by the Iraqi government.

The secret payments were not made to the United Nations’ monitored bank account from which humanitarian goods could be purchased for the Iraqi people, but in a secret deal with Baghdad outside of the program.

Chalmers, who was the sole shareholder of Bayoil, decided to pay illegal kickbacks, prosecutors said, while Dionissiev helped facilitate the export of Iraqi oil.

Both men face a maximum sentence of 20 years in prison, but under a plea deal Chalmers is likely to receive between three and four years when he is sentenced on November 19. Dionissiev is likely to receive up to six month under his plea agreement, his lawyer said.

http://news.yahoo.com/s/nm/20070817/wl_nm/un_iraq_trial_dc;_ylt=AlevirakiLEKR7L02cPD10CyFz4D

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Critical_rationalist asked:


then say Palin didn’t know Africa was a continent, Obama is a Muslim, McCain abandoned his first wife, Bush is behind oil prices, jews bombed the world trade center, etc, etc, etc

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Your Silly Prince asked:


http://news.yahoo.com/s/ap/20080910/ap_on_go_ot/interior_oil_trysts

cocaine, amphetamine using people who sleep with each other and trade favors. Talk about corruption. They sound more like drug dealers.

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srinule e asked:


Oil price Iternationally is same. With Oil-Energy price, has Domino effect on everything else, including our life. Meager increase in income level is going to nullify anything. God gave us Intelligence to be Human: Is it?

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Overt Operative asked:


Iran is suffering severe budget shortfalls because of low oil prices on the international market. Hamas is funded by the state of Iran. Could Hamas be acting under the direction of Iran to push oil prices higher? It interesting to note that no rocket attacks on Israel were happening when oil was over $100 a barrel.

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