Do you think this will lower the price of gas?

[NovaMob03]

Politics aside...just wait til the major oil companies post their 2nd quarter profits coupled with their excuses as to why they're reaming the American public. Bastards!

[USA1]

I say it doesn't matter what 'type' of energy we use (solar fossil wind hydrogen or whatever)...we are ALL going to pay. All these companies, the new and the old, will take complete advantage of American pockets....period. They aren't going to lower any price.

It amazes me that people and politicians really think that going to an 'alternative' fuel source will help us where it really counts - in our wallet. Nope! Not a chance. It's just not gonna happen. It makes no difference what source we use.

[tirebird]

Don't forget that those countries owning more than a trillion U.S. dollars of our debt, China and India, are keeping the price of oil high by subsidizing the price back home. Both China and India subsidize gasoline and diesel prices to keep their economies producing all the computer software and hardware, toys, electronics, etc., etc.that we buy here. The price of gasoline in those nations is roughly $2.50/gallon, with the government picking up the balance. If they stopped the subsidies, the price would go equal what the rest of the world is paying and the consumption would drop. That would drop the price of gas here. These subsidies prevent the price of oil from falling because demand is increasing in China and India.

[tirebird]

One other note, the high price of oil will bring about more exploration and more production, including shale oil from Canada and the oil sands of our West. But it will also bring about more innovation, something that makes America strong. Take a look at this video and you'll see that there is a positive side of the high price of oil. Here is just one company that can use algae to make any kind of fuel you want; gasoline, diesel, jet fuel, etc. The main scientist claims, as you'll see, that the process can supply the entire energy needs of the nation by using farms on 1/10th the area of New Mexico.

http://cc.pubco.net/www.valcent.net/...gro/index.html

[TDW]

Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[Xplantdad]

[ QUOTE ]
Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[/ QUOTE ]

Wow...what a surprise! No one could see that coming...

[442w30]

[ QUOTE ]
Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[/ QUOTE ]

That's gross profit, not net.

Did you track the prices of those stocks today?

[Born30YrsLate]

$138 Billion in Sales...$11.7 Billion in Profit (wouldn't that be net?)

[68Biscayne427]

Another interesting article...
Why Oil Will Become Cheaper...

[firstgenaddict]

If we are going to limit the profits earned by the oil companies then we also must guarantee their minimum profitability as well, correct? Wow so now we have the government penalizing companies for profitability... which industry is next?


Now as far as drilling...
The land of the United States is not owned by the government it is owned by the people and we should be able to use it as we see fit, however that may be. If I own property and want to drill for oil, short of me directly harming an individual, there should be no meddling by the government.