A Quote by John S. Watson
Every barrel of oil that we produce around the world benefits Americans because it keeps prices down. We can talk more later about American energy independence, but the facts are, every barrel we produce helps Americans because it keeps prices down.
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You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
I think oil prices are down for two reasons. One is, there is a lot of supply. There is a lot of supply because the U.S. now produces a lot of oil and there is a lot of supply because the Saudis seem to want to produce a lot of oil, maybe to punish the Iranians and the Russians.
Every barrel of oil that comes out of those sands in Canada is a barrel of oil that we don't have to buy from a foreign source.
The pro-American policy is the one that forces oil prices down. The way to do this is to flood the world market with liquid fuel from every source possible.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
Russia does not have a modern economy: it's a petro-power. The only thing it sells that the world wants to buy is oil and natural gas. When was the last time anyone bought a Russian computer? A Russian car? A Russian cell phone? Russia is so dependent on high energy prices that if oil falls below $100 a barrel, the Kremlin can't meet payroll.
You could pay a fair market price for a barrel of oil and cut 50 cents a barrel or a dollar barrel off what you're going to pay Mexico and use that money and put it towards to the building a wall. If they don't like it, too bad we're go buy the oil.
I never saw a bureaucracy produce a single barrel of oil.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
The anti-American policy is the one that keeps oil prices up. The way to do that is to help OPEC limit the amount of liquid fuel available.
Oil prices jumped to well over $100 a barrel, and analysts say it's due to tension in the Middle East. So, luckily, it's just a temporary thing.
Barrels are very difficult to find. But when you have them, give them lots of equity. Promote them, take them to dinner every week, because they are virtually irreplaceable because they are also very culturally specific. So a barrel at one company may not be a barrel at another company. One of the ways, the definition of a barrel is, they can take an idea from conception and take it all the way to shipping and bring people with them.
The Coastal Plain of Alaska has great potential for energy development. Americans have paid record-high prices for oil and gas in the year 2005.
Americans are wonderfully courteous to strangers, yet indiscriminately shoot kids in schools. They believe they are masters of the world, yet know nothing about what goes on outside their shores. They are people who believe the world stretches from California to Boston and everything outside is the bit they have to bomb to keep the price of oil down. Only one in five Americans hold a passport and the only foreign stories that make their news are floods, famine, and wars, because it makes them feel good to be an American. Feeling good to be American is what they live for.
There is a clear and strong link between the economy's present woes and the Iraq war. The war was at least one of the factors contributing to rising oil prices - which meant Americans were spending money on imported oil, rather than on things that would stimulate the american economy. Hiring Nepalese contractors in Iraq, moreover, doesn't stimulate the American economy in the way that building a school in America would do - and obviously doesn't have the long term benefits.
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