Re: Drilling for oil

On Sep 5, 9:09 am, "The Cheesehusker, Trade Warrior"
<Iamtj4l...@xxxxxxxxx> wrote:

So shouldn't the oil companies drill into the land that they already
have leases on?  They have record profits, after all.

If they're economically viable, yes.  There's a reason they aren't.- Hide quoted text -

Assumption is that Big Oil (TM)is monolithic. It isn't.

Free market means a lot of things, but one is that Total, Citgo,
CNOOC, Statoil, Gazprom, Sonatrach, et. al. can all bid on leases in
our offshore areas. So if you're inclined to blame Big Oil (TM), it
just ain't the US companies that retirees own stock in and that employ
Americans and pay American taxes you're indicting. You're indicting
foreign companies with a lot less transparency, don't have
shareholders to satisfy, and could care a whit about US politicians
and their posturing.

Another is from a purely competetive standpoint. Remember when Ford
bought Volvo, GM bought Saab, American Airlines bought Reno Air,
Northwest bought Midwest Airlines? These investments have been
written off by the purchasers as worthless. So why were they bought?
Because the purchasers didn't want any one of their competetiors to
buy them. Had nothing to do with any potential value. If you need a
car, you like Fords for example, and some politician says you can't
buy a Ford, you're going to buy a Chevy. Later on, another politician
says "Fords are a better value, easier on the environment and cheaper
to buy," of course you want to buy a Ford and you'll get pist at the
politicians who waned you to buy a Chevy in the first place. Free
Market, God Bless America!
.

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