A Quote by Mercer Reynolds
In 1979 I teamed up with my friend and business partner, Bill DeWitt, and together we formed an oil and gas company that invested through limited partnerships in oil and gas exploration.
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Venezuela has the biggest oil reserves in the world. And the biggest gas reserves in this hemisphere, the eighth in the world. Venezuela was a U.S. oil colony. All of our oil was going up to the north, and the gas was being used by the U.S. and not by us. Now we are diversifying. Our oil is helping the poor.
Fracking is an amazing instance of discovery of many things that come together to make it much cheaper to extract oil and gas. In a world where burning oil and gas puts more and more carbon into the atmosphere, it's not actually the most important kind of innovation to have.
We are considering various ways of making use of our oil and gas downstream industries. This is to be complemented with the import of oil and gas from other sources as raw materials.
We want to see oil and gas regulations on a continental basis given the integrated nature of this industry, with the current conditions in the oil and gas sector, this government will not consider unilateral regulation.
I was in the oil business for a while--gas and oil, check the tires.
Most of us have not heard about Master Limited Partnerships. These special financing arrangements allow oil and gas investors to avoid paying certain corporate income taxes, but are not available to clean energy businesses.
...the era of cheap oil and natural gas is coming to a crashing end, with global oil production projected to peak in 2010 and North American natural gas extraction rates already in decline. These events will have enormous implications for America's petroleum-dependent food system
Gas prices in many parts of the country are nearing $4 a gallon; it could get even worse as unrest spreads throughout the oil-exporting Middle East. Yet the Obama administration once again seems to see no crisis. It has curtailed new leases for offshore oil exploration for seven years and exempted thousands of acres in the West from new drilling. It will not reconsider opening up small areas of Alaska with known large oil reserves.
As much as with increased exploration new gas reserves can be found, what must be obvious to all is that our oil and gas reserves are not renewable and they are diminishing, and to protect the generations to come, we must engage in nothing short of a radical shift in the diversification of the economy.
My heart breaks living in southern Utah on the edge of America's Redrock Wilderness, witnessing what the Bush Administration's policies regarding oil and gas exploitation are doing to our public lands that belong to all Americans. Their policy is not about the public or the public's best interest. It is about the oil and gas corporations' best interests. The Secretary of the Interior is urging the Bureau of Land Management to support the gas and oil industry's most extreme drilling scenario in some of the American West's most pristine and fragile areas without proper legal and public input.
My grandfather was a very successful businessman. He started off as an engineer, but moved to sales to management to executive over a long career. For a while, before I was born, he was the CEO of an oil and gas exploration company.
Oil and gas was an up-and-down business, at best.
The development of oil and gas resources depends more on capital than labour, and exporting oil and gas neither generates maximum returns from these precious resources nor creates large numbers of jobs within the local economy. As a result, the benefits are typically not shared broadly across society.
Not everyone agrees the bears should be protected. Hunters, oil interests, even the state of Alaska has questions about the effects protection would have on oil and gas exploration and commercial shipping. But for many others, the bears are a symbol of a bigger crisis threatening the planet.
First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.
They [leaders in Western Europe] do not misuse financial instruments, financial injections, but, first of all, seek structural change. This is urgent for our economy as well, maybe even more urgent bearing in mind the problem that we cannot yet deal with, namely the prevalence of the oil and gas sector in the Russian Federation and, as a result, dependence on revenue from oil and gas.
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