Lower Oil Prices Are a Free-Market Victory

[Busybody]

Paul Krugman is a professor of economics at Princeton, a columnist in the New York Times and was awarded the Nobel prize in Economics.

You are a college dropout with no notable achievements in your life.

and Hussein Obola won the PEACE PRIZE

 

[cowslinger64]

and Hussein Obola won the PEACE PRIZE

Sure did... something there was NO FUCKIN WAY bush was gonna win... hard to get a NPP for smoking 4500 AMERICAN SOLDIERS, wounding countless others and leaving them hanging, as well as a hundred thousand plus Iraqis all trying to clear ground for the Disneyland - Middle East.


Crediting bush with cheaper gas is easily the most moronic thing you've said today.

 

[Busybody]

Crediting bush with cheaper gas is easily the most moronic thing you've said today.

you TURDS shouted there is no point to DRILLING everywhere cause it takes TEN YRS to get oil

well,

its 10 yrs

THANK YOU PRES BUSH

 

[Busybody]

Sure did... something there was NO FUCKIN WAY bush was gonna win... hard to get a NPP for smoking 4500 AMERICAN SOLDIERS, wounding countless others and leaving them hanging, as well as a hundred thousand plus Iraqis all trying to clear ground for the Disneyland - Middle East.


Crediting bush with cheaper gas is easily the most moronic thing you've said today.

http://www.political-humor.org/wp-content/uploads/2014/01/im-sorry-that-i-offended-you-when-i-called-you-stupid.jpg

 

[Libsam]

What happened to all that stimulus money you guys voted for?

*raises hand*

Can I answer the question!?!

Crony kickbacks and pork!

 

[MikeD93]

Oil is a cartel not free market. In regards to free market; nobody knows what a free market system is anyway. Our country runs a post Kaynesian economy. In the 30s we left capitalism and free market to a more mixed economy. Its the closest to afree market but still not there. Also the falling gas prices are to weaken Russia.

 

[trysail]

“What the commodity markets are telling us is that we’re living in a finite world, in which the rapid growth of emerging economies is placing pressure on limited supplies of raw materials, pushing up their prices…. [P]eak oil has arrived.”

- Paul Krugman
“A Finite World”
New York Times
December 26, 2010.​

​

 

[RobDownSouth]

“What the commodity markets are telling us is that we’re living in a finite world, in which the rapid growth of emerging economies is placing pressure on limited supplies of raw materials, pushing up their prices…. [P]eak oil has arrived.”

- Paul Krugman
“A Finite World”
New York Times
December 26, 2010.​

​

Tell us again 'bout that infinite supply of oil.

 

[Beco]

I wonder how long the price dive will continue? Because nothing good lasts forever...

I think if we keep pouring it on, shale, pipeline, etc., we can have cheaper oil for the next 100 years. That is, if they want that....cheaper oil hurts Iran....

 

[RobDownSouth]

I wonder how long the price dive will continue? Because nothing good lasts forever...

I think if we keep pouring it on, shale, pipeline, etc., we can have cheaper oil for the next 100 years. That is, if they want that....cheaper oil hurts Iran....

Probably a couple more days. "Insurgents" are attacking the major Libyan oil transfer port as we speak. The last time that happened the price of Saudi benchmark crude spiked. Oil is already up $2 a barrel on one of the lightest trading days of the year.

 

[Beco]

Probably a couple more days. "Insurgents" are attacking the major Libyan oil transfer port as we speak. The last time that happened the price of Saudi benchmark crude spiked. Oil is already up $2 a barrel on one of the lightest trading days of the year.

screw the middle east....

 

[Que]

I wonder how long the price dive will continue? Because nothing good lasts forever...

I think if we keep pouring it on, shale, pipeline, etc., we can have cheaper oil for the next 100 years. That is, if they want that....cheaper oil hurts Iran....

Exactly right. More available sources of supply cannot possibly raise prices for energy. Lower energy prices discourage conservation, but it also fuels the growth of manufacturing and distribution, so the trade off is worth it. Just as we should not stop looking for tweaks to energy efficiency e when prices are low, we should not stop exploration and development then either.

We have Nimrods both asserting that Krugman above is right and simultaneously asserting that fracking, oil sands and the XL pipeline are not economically viable for the long term. Which is it?

Aside from the fact that energy is the backbone of a modern industrialized economy, energy independence makes geopolitical sense. How much would we have saved in blood and treasure if the mid-east was half as wealthy as it is, and if we could have afforded to simply sit on the sidelines. How much fuel did we expend in a decade of war and all the logistics that go along with support?

 

[Busybody]

Probably a couple more days. "Insurgents" are attacking the major Libyan oil transfer port as we speak. The last time that happened the price of Saudi benchmark crude spiked. Oil is already up $2 a barrel on one of the lightest trading days of the year.

Libya?

You mean where there was a STABLE country

Until Hussein Obola fucked it up?

 

[Que]

Libya?

You mean where there was a STABLE country

Until Hussein Obola fucked it up?

"But... but, Freedom!" BobsDownSouth canned response #4 of 27.

 

[Wrong Element]

Busybody is still on the "Obola" thing? You guys sure pinned your hopes and dreams on the wrong crisis.

 

[RobDownSouth]

Lower energy prices discourage conservation, but it also fuels the growth of manufacturing and distribution, so the trade off is worth it.

We have Nimrods both asserting that Krugman above is right and simultaneously asserting that fracking, oil sands and the XL pipeline are not economically viable for the long term. Which is it?

Jesus Christ, you are stupid.

Lower energy prices increase demand, resulting in growth.
Growth is not a synonym for profitability.

Oil companies are hesitant to invest in infrastructure (what you are calling "manufacturing and distribution") when prices are low, as it impacts their bottom line. A negative impact on the bottom line results in less profitability and a lower rate of return to shareholders.

Fracking, oil sands and the XL pipeline are at best a stopgap measure. They can be exploited best when prices are, and remain, high. Fracking and oil sands/shale have a much more limited shelf life than traditional deep drill oil rigs. They simply run out of product faster (usually less than 3 years)

Right now we have a glut on the market, primarily due to a) the resumption of oil exports from Libya and b) weakening demand in Europe, which appears to be heading into a mild recession.

As such, it is becoming increasingly economically unfeasible to drill for shale oil. A number of rigs are being shut down, just six months ago, they were opening rigs at a near-record pace.

 

[RobDownSouth]

Busybody is still on the "Obola" thing? You guys sure pinned your hopes and dreams on the wrong crisis.

It's just a stopgap measure until they can glom onto the next manufactured outrage. Even the Chief seldom brings up his patented "but...but...Benghazi!" herp-a-derp anymore.

 

[Que]

Jesus Christ, you are stupid.

Lower energy prices increase demand, resulting in growth.
Growth is not a synonym for profitability.

Oil companies are hesitant to invest in infrastructure (what you are calling "manufacturing and distribution") when prices are low, as it impacts their bottom line. A negative impact on the bottom line results in less profitability and a lower rate of return to shareholders.

Fracking, oil sands and the XL pipeline are at best a stopgap measure. They can be exploited best when prices are, and remain, high. Fracking and oil sands/shale have a much more limited shelf life than traditional deep drill oil rigs. They simply run out of product faster (usually less than 3 years)

Right now we have a glut on the market, primarily due to a) the resumption of oil exports from Libya and b) weakening demand in Europe, which appears to be heading into a mild recession.

As such, it is becoming increasingly economically unfeasible to drill for shale oil. A number of rigs are being shut down, just six months ago, they were opening rigs at a near-record pace.

So which is it, nimrod?

We are running out of oil and will inevitibly see high prices for the foreseeable future as Krugman asserts and therefore those methods will be economically viable in the long haul or oil is plentiful for the foreseeable future rendering those methods not economically viable?

Pick any one. You cannot pick both as you have done.

 

[Busybody]

It's just a stopgap measure until they can glom onto the next manufactured outrage. Even the Chief seldom brings up his patented "but...but...Benghazi!" herp-a-derp anymore.

The takedown of a stable country, LIBYA....has ZIP to do with BENGHAZI

 

[RobDownSouth]

So which is it, nimrod?

We are running out of oil and will inevitibly see high prices for the foreseeable future as Krugman asserts and therefore those methods will be economically viable in the long haul or oil is plentiful for the foreseeable future rendering those methods not economically viable?

Pick any one. You cannot pick both as you have done.

My apologies, I used words with more than two syllables in my previous answer.

We are basically slowly running out of cheap-to-produce traditional deep-drill oil. Not even someone as willfully ignorant as you cannot deny that.

We are continuing to innovate, extracting oil from oil sands and shale deposits. This is expensive. In the current oil price downturn, it is also unprofitable.

Let me know what comprehension issues you might have in the above two paragraphs, and we'll go from there, m'kay?

 

[Que]

My apologies, I used words with more than two syllables in my previous answer.

We are basically slowly running out of cheap-to-produce traditional deep-drill oil. Not even someone as willfully ignorant as you cannot deny that.

We are continuing to innovate, extracting oil from oil sands and shale deposits. This is expensive. In the current oil price downturn, it is also unprofitable.

Let me know what comprehension issues you might have in the above two paragraphs, and we'll go from there, m'kay?

Which? Choose. Krugman was correct or he is incorrect?

 

[Que]

Thats what I thought. You want to be able to claim the high ground on both sides of the argument.

Just as when you assert that Obama's noble bias against fossil fuels and his policies that tend to restrict exploration and development have absolutely zero impact on the price of gasoline, but when he has done nothing to reverse any of those policies and private sector innovation has increased production despite his rhetoric and whatever actions he has taken to back his rhetoric, he should get credit for price reductions that follow.

Ever once in a while you have to actually take and defend a position and have it be consistent with your other positions.

 

[Busybody]

you TURDS shouted there is no point to DRILLING everywhere cause it takes TEN YRS to get oil

well,

its 10 yrs

THANK YOU PRES BUSH

THANK YOU PRES BUSH

 

[Que]

THANK YOU PRES BUSH

If Bush did things that tended to increase production he only did it to benefit Haliburtan, and it had nothing to do with the price of gas during his term.

If Obama did things to decrease production he only had the best interest of the planet and our green energy economy in mind and it had nothing to do with the price of gas increasing under his watch.

If Obama then did nothing to change or reverse the course of his policies and production increased despites his wish that it not happen, it is because he turned a magic spigot because he is a geopolitical genius and wanted to hurt our enemies in the middle East, and the reduction in the price of gas is entirely to his credit.

Simple.

 

[RobDownSouth]

Which? Choose. Krugman was correct or he is incorrect?

Ask someone to help you with the big words.