oil industry, why the turnarouond and his 'let's drill baby drill' announcement? hmmmmmmplaying politics?

Probably playing political games but I don't really care. It's about time for us to use our own resources and to tell the Saudi's to piss off!

he shoulda done it the first day on the job instead of bashing the good 'ol USA.

if repubs can take the senate or at least make it veto-ineligible, we'll have a repeat of the final clinton years and he'll be a dem in name only..and if he ain't around for his 2nd term, country will leap forward.....

before the gulf oil spill.

None of this is going to make any difference on the current oil prices. Why are Republicans stopping the speculation regulation taking effect in the Commodities exchange. If you look at supply and demand, oil prices.

Exxon CEO said that the oil prices should be $60 - $70. Take a look.

Then again being nuguy, you know more about oil prices than Exxon CEO, because you are nuguy and expert in making baseless posts here.

but only slightly. I personally think oil should be more in the $70-80 range, but why quibble.

My reasons are simple, most of the "new" oil to be developed in this country will come from various shale formations, areas of extreme conditions, such as Alaska, and equally expensive offshore fields.

Much of this oil has a "lift" cost of over $50 bbl, which means at anything lower than that the companies actually lose money from operations, much less get any type of return on investment.

I will agree that there is no valid reason for oil to be trading in the $100+ range, except for fear mongering and speculation, but that's what drives a free market, when oil plummetts, all those speculators will find themselves holding worthless paper, just like a couple of years ago.

Truth be told, even though it will effect my monthly cash flow, (I make most of my income from oil production) I wouldn't mind seeing a litte air let out of the market, right now I am neither betting on oil going up or down, I am simply waiting for some sanity to return to the market before making the plunge again.

i agree w/ exxon ceo!

the 'o' sat on re-starting the gulf oil drilling....ask someone who lost their job!