Has George Bush just found the solution to our gas price problem? Has he been sitting on it all this time??

Question

I can't believe it, he's a genius.. .why did he think of this before (he came into the White House)?

George Bush reveals in this just released footage that there is no quick fix to this horrible problem but gave America some advice what could certainly help us out of this crunch... just simply allow him to pass law to drill for more oil in your back yard and in nature reserves, oh, and build more oil refineries, thanks George! Of course, that must be the only solution, maybe then the mean 'ol oil companies will play nice if we give them what they want...

Hey, wait a minute? Isn't it 'criminal' to hold someone hostage, let alone the entire country? And isn't it a form of terrorism or torture, or extortion or something, to threaten someone or put stress or pressure until they give you what they want?

Why is it that ExxonMobil keeps breaking the world record year after year for 'Most profitible corporation ever!"... and raise prices (what is up with this world, gosh!)?

Answer 1

The problem is not with getting the oil, we need to build more refineries but the oil companies wont build them because there making record high profits and gorge bush has stalk in oil companies.

Answer 2

You choose that...President twice. Don´t cry.

Answer 3

What is wrong with all these people in yahoo answers, at least in this category.  Oil has been great for years, it helped us in countless ways, but now that we know of all the issues with oil, at some point, we need get out from under these corporations that fix prices, fix elections and bully us.  Those companies are way too powerful.  It's clear they are doing everything they can to keep the control for as long as they can.

Too those of you who agree with more drilling.  Fine, follow your president's proposal to destroy more of what nature is left in the world and build more refineries and so on...  Or you can put that money and investment of time into solar panels, wind farms and virtually unlimited sources of technology which will reduce your dependance, carbon footprint and pollution level just the same, and eventually, well beyond anything you could have expected.

America to me would seem to be the very kind of country that would want to break through this oil barrier and be the first to move into the post-oil era.  You should know, that's the future anyway, why not get a lock on it, like you did with computers...

Try doing good in the world again and set a positive example.  Think about the future for a change.  Oil is not 'future'  it is 'history', learn again how to be a leader instead of a follower.  Your ecomony, your government and the division of view in your country are all because of oil and oil politics.  When are you going to take a stand?

btw - the Bush family has been planning these events for a long time.  Oil is in their blood, you can't blame people for being who they are, but you can try to be more responsible about who you put into such a postion of power, even though that may have been somewhat out of your hands also.  I know the media in your country shows another side, but most people in the world are fairly convinced that the election vs. Gore was stolen right out from under him.

People around the world for 8 years have been looking at this as, you had a botched election, you had an illegal decision as to who the president would be (Gore was well ahead of Bush minus Florida which appeared to be a tie despite Bush's brother being the kingpin of the state), have an imposter president with a crude cast of characters serving with him, all doing illegal acts and changing policy along the way to get away with them, and to what extent... it would seem there aren't any limits.  Your president has transformed the Presidency, the power of the VP, the consitution, your privacy and your freedom and now is doing more harm than good, getting the oil companies off your backs while it is slowly killing your economy.  Meanwhile, the oil companies (and companies like Haliburton) are all winners.  When they are done with you, they will leave you.

If you don't want to be controlled by oil, don't let them.  Support alternative energy like it is a matter of national security (and it is) and just maybe, you'll end their reign over you and the rest of us in the world.

Wake up USA PLEASE!

Answer 4

Absolute genius.  I almost cracked up when I read that headline.  An oil man's solution is always going to be to go drill for more oil.  He just doesn't seem to get that it's a limited resource, and the only solution is to reduce our dependence on it.

Drilling for more oil to keep prices from increasing in the short-term will just make our supplies run out faster and make us slower to end our addiction.  It's not a solution, it's a recipe for disaster.

Answer 5

You seem to have the mistaken impression the "Big Oil" companies own and produce most of this world's oil.  They don't.  Most of the worlds oil is owned and produced by petty dictatorships; governments and government owned companies.

"Big Oil" has been showing record profits because the higher cost of oil and gas mean that the same margin produces more profit.  That is, a larger mark-up when they resell it.

In the United States, it isn't just that new drilling is illegal.  There are plenty of wells which are drilled and capped, sitting ready to produce tomorrow.  The reasons these companies don't produce domestically were the Carter "windfall taxes", and a renewed desire for those windfall taxes.  Why take risks to have your profits stolen by the "50% + 1" mob, when you can split the take reasonably with a foreign dictator?

As for why gas and oil prices are going up:

First, the weakening dollar takes a good chunk of the blame.  Exactly why it's weakening is unknown though.  The Euro has a value 50% higher than the Dollar, but the Dollar has a purchasing power 50% greater than the Euro.   Normally, comparative value and purchasing power go hand-in-hand.  Something is fishy here.

Second, oil production already exceeds demand.  Demand is even falling in the US (down 4%).  Now, demand and production are roughly equal, but lack of production can't explain the huge increase in prices.  Again, something is fishy, and it's not the oil companies.  A current idea is that fund managers and speculators are hording and driving up the prices.  If the US even increased production by a few percent, this might be enough to break the "bubble", if it exists.

Answer 6

For starters, the oil companies only made an 8% profit.  If you want to go after big profits, look at the private colleges.  Harvard is sitting on 9 billion and 25% profits.

Secondly, there are reserves of oil in the amounts of 200 to 500 Billion barrels in the Dakotas that is only now able to be tapped due to new techniques and the cost of oil on the market.

If he said we need more refineries then he's right.  We haven't built one in 32 years and are now not only importing oil, but we're importing refined gasoline.

I'm all for oil independence.  If you like us to keep getting oil from other countries then keep your head in the sand.

The reason we can't drill for oil is because of environmental regulations that only the US must abide by.  We are being held hostage by the environmental terrorists who do not care about the environment as long as they can hurt our economy and destroy our freedom.

Wake up to the real enemy.  It's not the oil companies.

I guess we all noticed that the self proclaimed "master of science" is definitely no master of economics.  (or logic for that matter.)  He just doesn't get it, does he?

Answer 7

a lot of people dont want oil refineries in their back yard cuz it stinks,... but to be honest what else could we do...in my opinion i think we should pull a japan and just build subways all over tha place since theyre eletric instead of putting so much money towards stuff we dont need but actually dont tell anyone my idea cuz id rather see everyone suffer from stupidity

Answer 8

UHM!!! I am all for this! It is a temporary solution but will help alleviate our misery until technology catches up. I think everyone is on the "alternative fuels" band wagon now. We just need a little relief. I mean it takes a while to build new energy sources. Also we need laws passed that will allow us to use wind energy too. Many communities won't even allow wind mills because  they are considered "unsightly". How can we solve the problem if everyone has this "not in my backyard" mentality.

Answer 9

He wants to drill more oil and build more refineries even though he admits that Global Warming is real, pretty screwed up!

I think he is trying to clear the way for nuclear in some places as well.

I think though Bush will want to go out with a bang and bomb Iran before he is done.  He'll be known as the prez that never cared about what US citizens or the rest of the world wanted but is loved for all his work he did for oil and energy businesses.

Answer 10

Dr. C is right!  Add to that Exxon's profits are about 10% which much is redistributed to shareholders.  Exxon does only about one fourth of it's business in the USA.  

You could learn - but I doubt you want to.

http://www.exxonmobil.com/corporate/file...

Bush has tried many times to increase more US energy production on ALL forms of energy  but has had very strong resistance from corrupt liberals - Republicans & Democrats.

The Commies and Arabs know these corrupt liberals will sell out their country - just look at the foreign money Carter & Clinton has taken.

If you want to know why businesses move their operations to other countries =  TRY TO START YOUR OWN BUSINESS!

It's not the 'cheap labor' - It's the RIDICULOUS GOVERNMENT REGULATIONS and CONFISCATORY TAXATION!

This is the primary reason the US dollar is shrinking allowing OUR cost of Oil to SOAR!

Answer 11

Okay... here's a completely unbiased answer to this, and it is completely fresh (note the date here).

AIADA (American International Automobile Dealers Association)

May 14, 2008

AIADA's FirstUp: The (Real) Reason Behind High Oil Prices

The (Real) Reason Behind High Oil Prices

On May 13, the price of a barrel of oil briefly hit a record of $126.98 on the New York Mercantile Exchange. The reason was ostensibly that Iran was cutting oil production. But there is no gas shortage. In fact, in the U.S., stockpiles of oil climbed by 11.9 million barrels in April; they were up by nearly 33 million barrels since Jan. 1. At the same time, MasterCard's May 7 gasoline report showed that gas demand has fallen by 5.8%. So why are prices still going up? Ed Wallace, writing in BusinessWeek, says prices are rising due to an unregulated commodities markets and greed. Commodities have often been the refuge for investors who have lost money on equities or fixed-income investments. If not restrained, they can drive up the price of goods that we can't get out of buying. In the press we are bombarded daily with justifications for the high price of oil, such as strife in the Nigerian oil patch. However, the Senate took a dim view of those excuses, saying that manipulative hedge fund managers are "making bold predictions of shocking price advancements to come" and adding "more fuel to the bullish fire in a sort of self-fulfilling prophecy."

Answer 12

The price of oil is more complicated than you realize, apparently.  Oil companies don't set the price of oil any more than car companies set the price of cars.  The price is set by the market.  If the government comes in and tells you that you can't produce cars domestically and ties the hands of car companies, what do you think might happen.   The cars will be produced overseas and the cost will certainly go up.  

That is similar to what has happened to oil prices.  The supply has not kept pace with the demand.  The demand in China and India has exploded.  They are competing with us for that oil.  It has been the environmentalist that have made it nearly impossible to get a refinery built in this country.  It has been leftist who restrict the search for domestic oil.  Are you really so naive to believe that that doesn't affect the markets.    I truly get worried about this country and the direction is it heading.  The ignorance is disheartening.  Exxon Mobile's profit margins are not out of line with Pillsbury.  Why do you expect them to not make a profit.  That sort of economic system doesn't work.

Answer 13

You said :      "just simply allow him to pass law to drill for more oil in your back yard and in nature reserves, oh, and build more oil refineries"

My back yard???  .... h**l yeah , then its pay day

Oil refineries???   Why not , we need them.

Sound s like GW has got some good ideas after all ,  Oh yeah , to answer your question of why he didn't think of them before . Actually.......He did !

To go ahead and clear up all of the MISINFORMATION on drilling in ANWR and why there is NO reason why we shouldn't start drilling tomorrow , check out the link

http://www.anwr.org/docs/CloseupofareaII...

Answer 14

"just simply allow him to pass law to drill for more oil in your back yard and in nature reserves, oh, and build more oil refineries"

This is the problem with you greens--only see what is directly in front of you. You know there is a bigger picture, right?

We all know the transition off oil is coming soon, right? But for the moment, we are stuck with oil. Now we have two choices: 1) Keep relying almost entirely on foreign oil while demand and prices go up (the price of everything will go up). This will hurt the poor and make this economic downturn even worse. Or 2) For the moment, we allow new refineries to be built and we start drilling for oil in a few new sites. This will help to alleviate the economic downturn and help to lower prices.

I know I would rather go with 2)-- it will make this transition a h**l of a lot easier.

Edit:

Jessika,

Where do you think that electricity comes from? Coal and hydroelectric. More electricity usage means more coal plants and more dams.

Answer 15

I just hear today that they found oil in Georgia USA that have more oil than the middle east. Be nice if true. But hippie environmentalist would not let a person dig for this oil anyway