There has been much discussion in the media lately, about off shore drilling off the coast of Florida. I live here, and I think if there is oil down there, we should get it. For one, we need it. Secondly, it will send a message to the Saudi's, oil producers etc, that they will notice. I am all for alternative energy, however, at this point in time, none of it seems to be working. With diesel fuel up around $5.00/gallon around here, the cost of everything is going up. Chances are, whatever it is, it got there by truck (diesel). I have been selling Ford Trucks for longer than I care to mention, and have never seen business this bad. In my opinion, we should go for it. What do you guys and gals think?

Robert Bird
Master Certified
Commercial Account Manager
Walker Ford
Clearwater, Fl
727.535.3673 ext 427

 

drill, how come we cant drill in OUR OWN WATERS, but them damn saudi's can? hell i heard russia even has a few rigs offshore somewhere

 

Anything that might relieve the pain from $100+ fuel-ups gets my vote

 

I say Drill. Lower gas prices. Plus oil platforms seem to attract lots of big game fish. Im all about it.

 

big game fish...

 

i say drill as soon as we can. just think 60 years ago texas supplied alot of the worlds oil..not to mention supplying most of the oil for the allies in ww2. we just need the will to do it. someone tell these hardcore treehuggers to calm down.

 

drill, drill, drill

 

Sure why not drill. The only issue I have is where there are tens of millions of acres of land that is leased to big oil companies around this country already that they aren't using yet we're talking about opening up more because it's an election year and people are whining about gas prices.

OPEC doesn't want gas prices to go down because their margins are so ridiculously high right now. Why else do they cap their own production levels? They already admitted they want to keep prices above $100 a barrel like 4-6 months ago when prices started to climb.

Go look at Exxons 10-k's for the past few years. Since '06 they've posted record profits quarter after quarter. We're not talking revenue, we're talking straight profit to the tune of $15 billion+ a quarter. The oil companies aren't hurting because they're struggling to support the worlds thirst for oil, they're making a killing because of it.

Keeping production to levels that keeps prices high lets them charge more so they can make more money without producing as much. It's a nifty little thing OPEC has going on for it's members. Personally, I think it should be illegal but since it's not, I guess we cant fault them for making the most out of the situation if it's allowed.

 

 

While you are right about record profits, profit margins have remained roughly the same and in some cases have dropped. They make on average 9.3 cents on every dollar they spend. So, they spent roughly $162 billion dollars and returned on that $177 billion for a profit of $15 billion.

Tell me, o' wise one, how much profit is reasonable on a $160+ billion dollar investment? Or better yet, how much money should one have to invest to make a $15 billion dollar profit reasonably?

 

I have used this same argument in the past and after thinking about it, I'd like to ask this question... Are oil companies entitled to a maintain certain profit margin?

 

I say yes, oil companys have had their share of rough times. Now that the price of crude has gone up people expect them to suddenly turn into a nonprofit organization. What a joke, they are making the same % profit they always have

 

Why not? I mean they maintain a small profit margin when compared to other industries. Capitalism makes the world go round, cut their profits and it reduces the incentive to continue research, exploration, and production. We certainly can't afford to turn it over to the government, that has never worked.

 

In a world where corporations aren't national, why not open our oil up to foreign bids? Capitalism at its best. A little competion would be healthy thing right? If they won't increase production, then let companies that want to get at the oil in the ground make bids on it. The fact is, they can only maintain their profit margin because they control the oil in the ground here in the US; and, nobody can get at it to compete.

 

Drill..