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Countrydave55

Oil Reserves

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My arguement? My only arguement is how we can allow a "no bid" contract to be given to a company that is still paying "our" vice-president. Where is the outrage??

 

And people b****ed that Bill Clinton had a little fling. Now we have greedy big business huckster in office. Great for the rich guy, but sucks for you and I.

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Some interesting perspectives:

http://www.reuters.co.uk/newsPackageArticl...section=finance

 

http://www.chron.com/cs/CDA/ssistory.mpl/b.../energy/2818805

 

It sounds like the oil loans are repaid with "interest" which is good.

 

One of the possible reasons for opening up the reserve at least a bit is to beat back long interest in oil futures, basically people betting that the price of oil will go higher. However, the oil reserves announcement didn't have too much of an impact on prices. Either the speculators think the measly amounts of oil will have little effect, or $50 price may not be inflated by speculators. The extra Saudi oil won't help much because it's sour crude and requires more refining to eliminate the sulphur.

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My arguement? My only arguement is how we can allow a "no bid" contract to be given to a company that is still paying "our" vice-president. Where is the outrage??

 

And people b****ed that Bill Clinton had a little fling. Now we have greedy big business huckster in office. Great for the rich guy, but sucks for you and I.

your argument only holds water if you :censored: and moan whenever a no bid contract is handed out.

 

Did you :censored: when Haliburton got the no bid contract under the last administration. Ever think that maybe they are the best equiped company to handle the job?

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My only thought is that the price of crude oil could and will go alot higher in the future. At what point it adversly affects the economy I don't know. I know personally I keep my furnace set low in winter and my Natural Gas bills are very very small for the climate I live in. I don't drive a ton of miles in a year so it would be hard for me to cut out unnecessary trips. My best guess is that when Gasoline hits $5 it will be a pain rather than an inconvenience. In the mean time I will just have to pay the going price and hope the hydrogen car is just around the corner. :blank:

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I was talking major affects. The hundreds of Billons spent in Iraq could have gone quite a ways to help the economy also. Yeah I know defense contractors return dollars to the economy also.

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I think we are doing the right thing by not drilling in Alaska. There is so much oil up there. Wait until the rest of the world runs up, then take our oil and charge the middle east $200 a barrel :lol:

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I was talking major affects. The hundreds of Billons spent in Iraq could have gone quite a ways to help the economy also.

 

This is not true because the billions of $$ would be in Saddams and the other terrorists pockets and therfore would not help Iraqs economy whatsoever.

 

As far as the US is concerned, the economy is moving along fine. Everyone that wants a job has one and can live anyway they personally chose.

 

Americans have no 'right' to low cost oil. If I owned an oil company and China offers me $100/barrel and the US people with the right to cheap oil offer me $50/barrel, do you think for 1 minute that I would sell the oil to the US just because people think they have a right to cheap oil?????

 

If your house is for sale for $100,000 and I offer you $100, would you sell it to me because I have a 'Right' to a house for $100.

 

I think NOT.

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Plus the vast Canadian oil shales , Antarctica , The continental shelf around the Falklands and Siberia has hardly got going .....

 

High prices will mean another round of intensive exploration ...... as more and more technologically difficult/expensive fields become more viable ...perhaps then another saturated market 5/10 years down the line ...? But then see what happens in China

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"Everyone that wants a job has one and can live anyway they personally chose."

 

This is good news. The 1 million jobs not available in the economy today that were available in the economy 4 years ago were what? Unneeded? Excessive? I am not sure that these people think that they can have any job they want and can live how they wish.

 

If the economy is doing so well why are there fewer jobs available in the US? Why have disability claims increased as a percentage of employed? Why is the DOW at a lower level than the previous administration left it? Why do fewer people have health insurance? Why do more people say they can't afford their medication? Why are fuel prices higher than they were 4 years ago. Why is the proportion of money paid for fuel supporting other overseas economies instead of the local economy.

 

If we are at full employment why are wages trending down in all sectors?

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Guest Deuces Wild

"Everyone that wants a job has one and can live anyway they personally chose."

 

This is good news. The 1 million jobs not available in the economy today that were available in the economy 4 years ago were what? Unneeded? Excessive? I am not sure that these people think that they can have any job they want and can live how they wish.

 

If the economy is doing so well why are there fewer jobs available in the US? Why have disability claims increased as a percentage of employed? Why is the DOW at a lower level than the previous administration left it? Why do fewer people have health insurance? Why do more people say they can't afford their medication? Why are fuel prices higher than they were 4 years ago. Why is the proportion of money paid for fuel supporting other overseas economies instead of the local economy.

 

If we are at full employment why are wages trending down in all sectors?

The unemployment rate in August dipped to a low of 5.4%, a figure that most economists consider full employment.

 

And wages are not trending down in all segments. In fact, just the opposite is true. Just go to the BLS page for the statistics.

 

Where are you getting your data from CDave?

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If the economy is doing so well why are there fewer jobs available in the US?

 

Everyone that is willing to do what it takes to become gainfully employed, IS gainfully employed.

 

Why have disability claims increased as a percentage of employed?

 

Because it is much easier to get a pay check than actually working. Because there are more people working than ever before and because more people than ever cannot handle a hard days work.

 

Why is the DOW at a lower level than the previous administration left it?

 

Because the former admin allowed companies to sell stock in non existant or non valued companies for $Billions$ and people now realise that Yahoo is actually worth $40/share instead of $400/share and AOL is worth -$20/share instead of $1000/share.

 

:lol: I was selling swamp land on the moon for $1000/acre and the Enron people all bought it. :lol:

 

Most people fell for this BS during the last admin. Bill (Hillary) Clintom was the greatest BSer of all time and people believed it.

 

The DOW lost 50% of its value during the last 9 months of the Hillary admin. This is the largest drop in this short period of time in history. Bush was not even elected yet.

 

Why do fewer people have health insurance?

 

Because they are too lazy to either find a job with healthcare or not willing to work harder to pay for it.

 

Healthcare is a privalege, not a right.

 

If you want free healthcare, then move to Canada and enjoy their system. I pay $4000/yr (co-pay) for United healthcare and wound not give it up for anything, even if the price increases.

 

 

Why do more people say they can't afford their medication?

 

Why are medications required by more people than ever needed before. Are they actually needed or are they another right like a job or healthcare.

 

 

Why are fuel prices higher than they were 4 years ago.

 

Because every other country in the world is willing to pay more $$ for energy than the US and the oil goes to the highest bidder. If you don't like it, either walk or get a bicycle or stay home. :mrgreen:

 

I'll say it again, Low cost oil for Americans is NOT a right. Americans have had it too good for too long.

 

Why is the proportion of money paid for fuel supporting other overseas economies instead of the local economy.

 

Because the money belongs to the countries or economies that produce the oil. Or in the US the money belongs to the stockholders that own the oil companies, not the general population.

 

Oil is a luxury. Most people could live without much oil but our lifestyle dictates that we always want more.

 

If we are at full employment why are wages trending down in all sectors?

 

Wages are only going down in the unskilled markets because there are far more unskilled people than ever before. In most skilled fields like tech, computers, accounting etc they are going up at a rapid rate. These , like most skilled positions pay higher than they ever have. The people in these positions are willing to work much harder and put forth more effort than the unskilled and therefore have earned what they have.

 

I am willing to teach people to fish, but I am not willing to supply an unlimited amout of fish to these people and contribute to their impairments in life.

 

 

NOW YOU HAVE CHOICES!! WHAT WILL YOURS BE??? Thats the greatest thing about living in the United States. :)

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I was sloppy in my statement about wages and I apologize. What I meant to say was that the median wage for newly created jobs is less in 2004 than in 2000 (I think it is close 1996 actually but I can't find the reference). When wages are adjusted for inflation (which excludes volatile commodities like health care, food and fuel which also happen to be increasing much faster than the rate of inflation as the govt. calculates it) income is significantly lower.

 

While it is true that unskilled work or blue collar work has disproportionately decreased there are no economic models that suggest that education alone can increase wages. After all a PH.D in engineering will be paid the same to flip burgers as a high school drop out. Education can provide upward mobility but there must also be a position to mobile to. Everyone cannot be a physician or there will be only 1 other person to treat. To suggest that everyone can be educated into a high paying job is not even logical.

 

Crasher- It seems you confirm all of my assertions and I thank you for that but your causal explanations (which are not factual and only hypotheses) do not dispute the facts.

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Guest Deuces Wild

I was sloppy in my statement about wages and I apologize. What I meant to say was that the median wage for newly created jobs is less in 2004 than in 2000 (I think it is close 1996 actually but I can't find the reference). When wages are adjusted for inflation (which excludes volatile commodities like health care, food and fuel which also happen to be increasing much faster than the rate of inflation as the govt. calculates it) income is significantly lower.

 

While it is true that unskilled work or blue collar work has disproportionately decreased....

Not saying you are right or wrong, just wondering what the source of your information is CDave?

 

Why are you including health care costs when adjusting wages? If you choose to do so are you also including employer contributions to health care, retirement and other benefits to total wages? I don't think so. You cannot have it both ways. ;)

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I was sloppy in my statement about wages and I apologize. What I meant to say was that the median wage for newly created jobs is less in 2004 than in 2000 (I think it is close 1996 actually but I can't find the reference).

 

You are correct, the median wages have gone down because their are more new unskilled workers entering the market every month and there are over 3 million unskilled illegal aliens entering the country each year. This can explain why the median wages have dropped.

 

I will also point out that if the Minimum wage is increased to $7/hr as promised by a certain person, that the net effect will be a drop in the median wages again.

 

WHY?? Because the demand for unskilled workers at $7/hr will decrease and the demand for entry level people at $3/hr(this is attached to the minimum wage bill) will increase at a huge rate thus lowering the median rate for all wages paid.

 

It seems you confirm all of my assertions and I thank you for that but your causal explanations (which are not factual and only hypotheses) do not dispute the facts.

 

Their are no true facts and figures available to prove or disprove any of the figures because it is impossible to measure most of these things. The best thing that the government or we can do is form a hypothesis and attempt to gather as much info as possible to prove or verify our theory.

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Guest Deuces Wild

CC...the BLS can prove the figures.

 

I also disagree with your assertion that median wages have gone down...the BLS says otherwise. :)

 

edit sp

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Guest Deuces Wild

Bump...still waiting for a response to my questions CDave. They are:

 

Not saying you are right or wrong, just wondering what the source of your information is CDave?

Why are you including health care costs when adjusting wages? If you choose to do so are you also including employer contributions to health care, retirement and other benefits to total wages? I don't think so. You cannot have it both ways.

The unemployment rate in August dipped to a low of 5.4%, a figure that most economists consider full employment.

 

And wages are not trending down in all segments. In fact, just the opposite is true. Just go to the BLS page for the statistics.

 

Where are you getting your data from CDave?

:rolleyes:

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Survey of Household Income, WSJ & some investment newsletters. Sorry I am so well read. I wish that they could put this all in some easy to find spot. Surely you don't doubt Crasher.

 

While employer contributions have gone up on average employee copay, and deductibles have gone up increasing the net outlay by employees. In addition non covered costs such as medications have gone up significantly (about 15%) so for people on medications for chronic conditions their outlay has gone up significantly. As an interesting aside the average adult takes 2.2 medications up from 1.4 medications 10 years ago. Most significantly uninsured which reflects employees without insurance or individuals that are underemployed (meaning part time) has increased by significantly 25% .

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Guest Deuces Wild

Sorry I am so well read. I wish that they could put this all in some easy to find spot. Surely you don't doubt Crasher.

 

That dog don't hunt CDave. Specific cites please. If you post something as fact you should be able to prove it when called on it. Otherwise it is nothing more than assumption, opinion and generalization.

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We have been down this road before DW. I am not going post facts and cites to your speculation all down. Do your own reading or don't believe it. I don't particularly care.

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Guest Deuces Wild

We have been down this road before DW. I am not going post facts and cites to your speculation all down.  Do your own reading or don't believe it. I don't particularly care.

You continue to post things as facts...when called to prove them as facts you cannot deliver.

 

Yes, maybe we have been down this road before....you continue to show you cannot back up your claims when called on them. :rolleyes: :lol

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Ummm. CDave, those reports are for the year '03. anything for this year?

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Guest Deuces Wild

Thank you CDave.

 

I looked through the 2003 (not current) link but could not find specifics on your claims (I quote you directly):

 

1. If the economy is doing so well why are there fewer jobs available in the US? Why have disability claims increased as a percentage of employed? Why is the DOW at a lower level than the previous administration left it? Why do fewer people have health insurance? Why do more people say they can't afford their medication? Why are fuel prices higher than they were 4 years ago. Why is the proportion of money paid for fuel supporting other overseas economies instead of the local economy.

 

2. What I meant to say was that the median wage for newly created jobs is less in 2004 than in 2000 (I think it is close 1996 actually but I can't find the reference). When wages are adjusted for inflation (which excludes volatile commodities like health care, food and fuel which also happen to be increasing much faster than the rate of inflation as the govt. calculates it) income is significantly lower.

 

3. While employer contributions have gone up on average employee copay, and deductibles have gone up increasing the net outlay by employees. In addition non covered costs such as medications have gone up significantly (about 15%) so for people on medications for chronic conditions their outlay has gone up significantly.

 

4. Most significantly uninsured which reflects employees without insurance or individuals that are underemployed (meaning part time) has increased by significantly 25% .

 

5. This is a good deal the US Citizens if this is a temporary disruption in crude oil availability.

 

6. Chaney's retirement pay from Haliburton is not a blind trust. The compensation package is a stock deal and he profits directly from the value of Haliburton.

 

I guess am just too slow to find cites of these allegations from your link http://www.census.gov/hhes/www/income03.html and I ask that you help me out. :)

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