Wednesday, May 11, 2011

President Obama slams oil prices as GOP blames Obama for their crisis

Obama slams oil company profits as gas prices surge

Obama seeks end to oil industry tax breaks

First Canada is America's largest foreign supplier of crude

February 2011 Import Highlights: Released April 28, 2011:

Monthly data on the origins of crude oil imports in February 2011 has been released and it shows that two countries exported more than 1,000 thousand barrels per day to the United States (see table below). The top five exporting countries accounted for 77 percent of United States crude oil imports in February while the top ten sources accounted for approximately 92 percent of all U.S. crude oil imports. The top five sources of US crude oil imports for February were Canada (2,193 thousand barrels per day), Saudi Arabia (1,114 thousand barrels per day), Mexico (998 thousand barrels per day), Nigeria (948 thousand barrels per day), and Venezuela (878 thousand barrels per day). The rest of the top ten sources, in order, were Angola (357 thousand barrels per day), Iraq (263 thousand barrels per day), Ecuador (242 thousand barrels per day), Brazil (175 thousand barrels per day), and Colombia (175 thousand barrels per day). Total crude oil imports averaged 8,013 thousand barrels per day in February, which is a decrease of 1,056 thousand barrels per day from January 2011. top 15 suppliers

Canada remained the largest exporter of total petroleum in February, exporting 2,831 thousand barrels per day to the United States, which is an increase from last month (2,826 thousand barrels per day). The second largest exporter of total petroleum was Saudi Arabia with 1,114 thousand barrels per day. That said I first have a problem with supposedly what is going on in Libya being the reason for skyrocketing oil prices. We get more than half our oil from Canada and South America.

Next: Obama has no control over the cost of oil; if he did it would mean it is a nationalized enterprise. Its purchase, distribution and sale as well as domestic production here isn't privatized. We do buy from several nationalized sources but ours isn't among them.
A week before the BP Gulf spill. Lisa Murkowski cast the deciding vote to hold big oil culpable for only $750,000,000 in damages. Obama nixed that and went after them for 136 times that in damages -- and he got it.

Last: I understand that from beginning to drill a well seeing it at the pump is around 10 years ( I had trouble researching figures) That makes it Bush's fault despite his secret oil meetings with the so called oil barons to put them in charge and create messes like the Gulf of Mexico. I also understand that we can blame generations of Politicians for this mess but of course they would take no credit for this as they have not for our financial crisis.

James Joiner
Gardner, Ma


Ranch Chimp said...

Damn good posting Jim as far as the detail's of the oil production and supply, and Good Morning Guy! I have done a fair chunk of posting's myself on this "oil game" (cause frankly that's all this is, is a political game for vote's basically, the oil industry is already spoken for, bought and paid for, and not nam politician is going to do much of anything that their not ordered to do, heh, heh, heh, heh, heh :) and all the political rubbish behind it. It isnt just the gas price's the GOP is solely blaming this administration on, they are blaming every damn negative issue on this administration, they know how short sighted American's are and quick to react to buzz phrases, cliche's, quick sales pitches and a schlew of other related. And this ole boy Lankford out of OK, I seen this on CNN I believe that was a GOP response to the President's weekly address, and had to be one of the worst sales pitches I have ever seen ... this Guy has what he's all about written all over him, and in his voice, he's easier to read than a nursery rhyme's book, heh, heh, heh, heh, heh ... and so full of shit I would have to grab my cowboy boot's just to indulge any more than that :) I mean seriously, this Guy was so bad in this response, that even as a republican after downing a 6 pack of brew, on a good day, in a great mood, couldnt even buy this ... I advise him to not make many public appearance's, or get an image overhaul, because he look's and sound's as phoney as they come, and too wimpy at that, heh, heh, heh, heh, heh :)

an average patriot said...

Thanks RC! I saw an analysis on how far south Republicans of gone since the last election. People see the danger and are waking up. That is hwy R's changed their tune on SS but the elderly and independents have their number that is why Obama's favorables are at 60%, Catching Osama didn't hurt either. Watch Obama get reelected!

Ranch Chimp said...

Good Evening Jim! (5:40pm Dallas)

An Obama win? I actually hope your right on that Jim! :) Geeez Guy ... I been looking at some of these candidate's that are running for the GOP ... heh, heh, heh, heh, heh ... what a crowd! :) Also I dont know if it's just last quarter of the game desperation or have they just lost it, gone beserk and become suicidal? :)

My blog has been down as far as access this morning, not sure why, I couldnt even comment nowhere's or gain access to my own ... but beautiful day today here for outdoor activity, barbeque or what have you, low 70's nice breeze, sunny, etc. Tomorrow the same, and my daughter's boyfriend graduate's from University of North Texas @ Denton (Dallas area) ... and we have a big event planned for him, as far as cookout, after hour's, and my daughter was planning on hiring a stripper to show up and pull some move's that should make him "blush" ... just as a joke/ humor. :)

an average patriot said...

Hope you had a good time, this must have been one of the days blogger was down.