Thought I'd pass this along just in case you were wondering why prices at the pump are so high and can't find anyone to explain it to you. Well this does a pretty good job of it
"Big Oil"
I hadn't realized, until the hearings on energy that were held this week in House and Senate committees, that the United States doesn't have any big oil companies. It's true: the largest American oil company, Exxon Mobil, is only the 14th largest in the world, and is dwarfed by the really big oil companies--all owned by foreign governments or government-sponsored monopolies--that dominate the world's oil supply.This graph tells the story; you can barely see the American oil companies as minor players on the right side of the chart. The chart was presented to the House committee by Chevron.
clic to see chart.
With 94% of the world's oil supply locked up by foreign governments, most of which are hostile to the United States, the relatively puny American oil companies do not have access to enough crude oil to significantly affect the market and help bring prices down. Thus, Exxon Mobil, a small oil company, buys 90% of the crude oil that it refines for the U.S. market from the big players, i.e, mostly-hostile foreign governments. The price at the U.S. pump is rising because the price the big oil companies charge Exxon Mobil and the other small American companies for crude oil is going up.
This is obviously a tough situation for the American consumer. The irony is that it doesn't have to be that way. The United States--unlike, say, France--actually has vast petroleum reserves. It would be possible for American oil companies to develop those reserves, play a far bigger role in international markets, and deliver gas at the pump to American consumers at a much lower price, while creating many thousands of jobs for Americans. This would be infinitely preferable to shipping endless billions of dollars to Saudi Arabia, Russia and Venezuela.
So, why doesn't it happen? Because the Democratic Party--aided, sadly, by a handful of Republicans--deliberately keeps gas prices high and our domestic oil companies small by putting most of our reserves off limits to development. China is now drilling in the Caribbean, but our own companies are barred by law from developing large oil fields off the coasts of Florida and California. Enormous shale oil deposits in the Rocky Mountain states could go a long way toward supplying American consumers' needs, but the Democratic Congress won't allow those resources to be developed. ANWR contains vast petroleum reserves, but we don't know how vast, because Congress, not wanting the American people to know how badly its policies are hurting our economy, has made it illegal to explore and map those reserves, let alone develop them.
In short, all Americans are paying a terrible price for the Democratic Party's perverse energy policies.
This administration has tried for over 7 years to get an Energy Policy enacted. But the Liberal Environmental whackos (no need to name Party, there is only one that will have them) have lobbied the Democratic Congress (now we can name Party) to stay away from ANWR, West Coast and East Coast drilling, By opening the drilling this would have put us way above needing any foreign oil but instead, we are in exactly the place we are today. Why is it that the Democrats are so against producing domestic oil? One things for sure, it's the last thing our friends in Saudi Arabia, Venezuela and yes, our friends in Iran, want this country to do. Why are the Democrats on their side. Food for thought. Now try to find one of them that will admit it. It's always someone elses fault. Have a great day.
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<HR>A commentator on CNN today, explained that not devloping our reserves will cost us so much that we will be motiveted to find alternative energy scources before we have to read this in the dark?
"Big Oil"
I hadn't realized, until the hearings on energy that were held this week in House and Senate committees, that the United States doesn't have any big oil companies. It's true: the largest American oil company, Exxon Mobil, is only the 14th largest in the world, and is dwarfed by the really big oil companies--all owned by foreign governments or government-sponsored monopolies--that dominate the world's oil supply.This graph tells the story; you can barely see the American oil companies as minor players on the right side of the chart. The chart was presented to the House committee by Chevron.
With 94% of the world's oil supply locked up by foreign governments, most of which are hostile to the United States, the relatively puny American oil companies do not have access to enough crude oil to significantly affect the market and help bring prices down. Thus, Exxon Mobil, a small oil company, buys 90% of the crude oil that it refines for the U.S. market from the big players, i.e, mostly-hostile foreign governments. The price at the U.S. pump is rising because the price the big oil companies charge Exxon Mobil and the other small American companies for crude oil is going up.
This is obviously a tough situation for the American consumer. The irony is that it doesn't have to be that way. The United States--unlike, say, France--actually has vast petroleum reserves. It would be possible for American oil companies to develop those reserves, play a far bigger role in international markets, and deliver gas at the pump to American consumers at a much lower price, while creating many thousands of jobs for Americans. This would be infinitely preferable to shipping endless billions of dollars to Saudi Arabia, Russia and Venezuela.
So, why doesn't it happen? Because the Democratic Party--aided, sadly, by a handful of Republicans--deliberately keeps gas prices high and our domestic oil companies small by putting most of our reserves off limits to development. China is now drilling in the Caribbean, but our own companies are barred by law from developing large oil fields off the coasts of Florida and California. Enormous shale oil deposits in the Rocky Mountain states could go a long way toward supplying American consumers' needs, but the Democratic Congress won't allow those resources to be developed. ANWR contains vast petroleum reserves, but we don't know how vast, because Congress, not wanting the American people to know how badly its policies are hurting our economy, has made it illegal to explore and map those reserves, let alone develop them.
In short, all Americans are paying a terrible price for the Democratic Party's perverse energy policies.
This administration has tried for over 7 years to get an Energy Policy enacted. But the Liberal Environmental whackos (no need to name Party, there is only one that will have them) have lobbied the Democratic Congress (now we can name Party) to stay away from ANWR, West Coast and East Coast drilling, By opening the drilling this would have put us way above needing any foreign oil but instead, we are in exactly the place we are today. Why is it that the Democrats are so against producing domestic oil? One things for sure, it's the last thing our friends in Saudi Arabia, Venezuela and yes, our friends in Iran, want this country to do. Why are the Democrats on their side. Food for thought. Now try to find one of them that will admit it. It's always someone elses fault. Have a great day.
<!-- END WEBMAIL STATIONERY -->
<HR>A commentator on CNN today, explained that not devloping our reserves will cost us so much that we will be motiveted to find alternative energy scources before we have to read this in the dark?
