The History Of The Pennsylvania Oil Boom And Petroleum Industry

I’m just curious how oil companies acquire the rights to drill offshore. Do they buy the land? from whom? Well a related question is where do they get the rights to drill oil on land? Do they just buy the land?

Congress leases the land to the oil companies.

To me this is an important question on whether it is the oil companies fault for high gas prices or not. I just see a lot of blame being thrown their way.

They are vertically integrated companies which means they make money all the way up the line from the time the oil leaves the ground. Focusing on just the profit on the end product of gas is misguided.

This question is for those that were on the ‘Evil Oil Companies" band wagon in the last year. Are these EOC’s now lowering their prices? Why wouldnt they just keep prices high and still make "absurd profits"?

Well that is exactly why OPEC ministers held an emergency meeting last week. It is their contention that oil price decreases in recent weeks are beginning to affect their economies, thus they will decrease production, thus lowering the supply which should increase the price per barrel. Part of the reason that the price of oil dropped is that speculators got caught up in the economic meltdown as the financial institutions began to fail.

The oil companies with their excess profits should put some of that money into the bailout.

I cannot fathom how you came to this question. What is the excess profit you are talking about? What about the government’s take on the taxes? Companies are double taxed when dividends are sent out. The government is pulling a lot of money from these companies. What is the profit margin of oil companies compared to other big named companies?

You need to put everything in perspective. But I see you just whining away on why do oil companies not pay their fair share. Communism at it’s best hour.

They all admit that the only solution "Drill Baby Drill" may only provide a bogus "psychological benefit" on the price of oil. It transfer resources from the american people to the oil companies. It will destroy the environment.

Why not push hybrid cars, that would actually lower consumption, pollution, dependence on foreign suppliers and lower the price of oil.

Well they also look at ways to transfer wealth to Bankers. They do a very good job of representing their constituencies. It is just that their constituencies are not the people of the US.

Why should we drill more oil wells when our oul companies are exporting millions of gallons of crude and gas daily to Mexico and Canada. If we drill more, won’t they just export more?

The US is not a net exporter of oil to Canada or Mexico. The US is a massive net importer of oil from those countries (i.e. any oil that gets exported to those countries is more than compensated for by imports).

It is a fiction that developing oil in the US will affect US oil prices more than developing oil in Russia or Saudi Arabia or wherever will, simply because oil is freely traded between countries and comes at a single price worldwide. So long as you’re importing any oil at all, you have to pay the market price for it, and there simply isn’t enough oil on US soil to supply all of US demand without importing some.

By increasing taxes on oil companies, isn’t that just going to be coming out of our pockets? They are not going to suffer by an tax increase, we will see it in the prices at the pump.

The liberals don’t think that, they know damn well the oil companies will pass it on. They don’t believe it’s Nancy Pelosi and the democrats fault that we’re paying 4 bucks a gallon for gas. And it’s fixin to come back and bite’em in the ass.

like how much money does a president or vice president in an oil company like Exxonmobil or another one of those large oil companies make? im doing a report on the oil corporations for school and i need help

Go to the "Key Executives" section at these websites:

http://finance.yahoo.com/q/pr?s=xom

http://finance.yahoo.com/q/pr?s=oxy

http://finance.yahoo.com/q/pr?s=cop

http://finance.yahoo.com/q/pr?s=cvx

Catalytic converters were forced upon the public by the oil companies in 1975, but not to reduce toxic emissions as we were brainwashed to believe.

What they actually do is plug up the exhaust pipe and drastically murder fuel economy. I know this for a fact. I just removed the catalytic converter from my truck, and it made a HUGE difference in fuel economy.

So without a catalytic converter, your vehicle will get more HP, and better fuel economy.

B.S.
Cats were forced on us by the Feds and the EPA.
Run your engine clean and in tune and your cat won’t clog.

What if there was a vote to decide if $13.5 billion in tax breaks for oil companies should go into oil alternatives, like solar and wind? What would you want your Senator to do?

Well, as you probably guessed, there was such a vote. We needed 60 votes to prevail, and 59 of them were in. But John McCain ducked the vote.

As a result, instead of powering millions of homes with clean energy and building next-generation solar technology, we’re giving ExxonMobil and other companies billions in tax breaks at a time when they’re already making record profits.What say you?

The Federal Government already takes about 35 percent in royalties from the wells. That is before it is refined, delivered to the market and taxed again. Corporations do not pay taxes. It is passed on to the consumer. Obama complained that the oil companies make about $4000 a minute in profit. He neglected to mention that they pay about $14,000 a minute in taxes.