Obama Jobs Speech to Congress

#26
#26
wells.jpg


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#28
#28
rjd970 said:
It should. I don't think it will though. Speculative buying with no basis in reality will still raise prices. Summer driving season, Fall Hurricanes, Winter Heating Oil, Spring repairs...pick your excuse.
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I think the difference is that what you've posted above are short-term volatility drivers. They exist under virtually any supply scenario. I believe we can extend the long-term supply impact on prices by exploiting our resources.

I haven't done much research but I'd guess we as a country are the least aggressive in the world (or close to it) in developing the energy resources we have at hand.

The support we are offering Brazil to develop their off-shore oil was the last straw for me.
 
#29
#29
The Bingo card is quite accurate. Just needs "oil and gas companies" and "corporate jet owners" to be complete.
 
#30
#30
volinbham said:
I think the difference is that what you've posted above are short-term volatility drivers. They exist under virtually any supply scenario. I believe we can extend the long-term supply impact on prices by exploiting our resources.

I haven't done much research but I'd guess we as a country are the least aggressive in the world (or close to it) in developing the energy resources we have at hand.

The support we are offering Brazil to develop their off-shore oil was the last straw for me.
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Just my opinion, but I don't share this optimism. Who's to say OPEC doesn't just cut production to maintain high prices when we start producing?

People need gas, will pay for it, and OPEC/Big Oil know this. Even if we started pumping all we could next week, gas won't drop below $3/gallon. Something will happen (hurricane, somebody farting in the middle east, etc) "justifying" it being at current levels. I doubt OPEC ever lets it drop below current prices knowing the market can handle it, even in a downturn.

Just don't think we can drill/produce our way out of this. The problem, as I see it, is OPEC controls the market, not making it "free".
 
#32
#32
rjd970 said:
Just my opinion, but I don't share this optimism. Who's to say OPEC doesn't just cut production to maintain high prices when we start producing?

People need gas, will pay for it, and OPEC/Big Oil know this. Even if we started pumping all we could next week, gas won't drop below $3/gallon. Something will happen (hurricane, somebody farting in the middle east, etc) "justifying" it being at current levels. I doubt OPEC ever lets it drop below current prices knowing the market can handle it, even in a downturn.

Just don't think we can drill/produce our way out of this. The problem, as I see it, is OPEC controls the market, not making it "free".
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I don't think we can drill/produce our way out either but we can change the dynamic a bit and gain a bit more energy independence.

I also see a positive feedback from improving production and development processes. Current policies are discouraging such advancements putting us further behind the eight ball.

I see a lot more upside than downside. The current admin appears to believe that keeping it down here will force green energy and in the meantime we'll become more dependent on foreign energy. That's a risky bet that we don't have to take IMO.
 
#33
#33
rjd970 said:
It should. I don't think it will though. Speculative buying with no basis in reality will still raise prices. Summer driving season, Fall Hurricanes, Winter Heating Oil, Spring repairs...pick your excuse.
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none of it matters with a bunch of excess capacity around.

The capacity we're going to struggle with is refining.
 
#34
#34
BigPapaVol said:
none of it matters with a bunch of excess capacity around.

The capacity we're going to struggle with is refining.
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The lack of refineries has been a problem for quite a while. My understanding is that it is nearly impossible to get permitted to construct a refinery. Not to mention the costs of constantly retrofitting the refinery once it's built everytime the EPA amends the regulations
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#35
#35
Odds we get another "you lie!" moment from this speech?

He's calling a joint session to blast one party. Will get ugly. My head will explode as he toggles between "we must do what's in the best interest of the country; not our party" and skewering Republicans for creating the situation and perpetuating. Between, "we need to stop playing political games" and playing the biggest political game of them all.
 
#36
#36
volinbham said:
Odds we get another "you lie!" moment from this speech?

He's calling a joint session to blast one party. Will get ugly. My head will explode as he toggles between "we must do what's in the best interest of the country; not our party" and skewering Republicans for creating the situation and perpetuating. Between, "we need to stop playing political games" and playing the biggest political game of them all.
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do you, in all honesty, expect anything different?

I'd like to think he is forced to play a balancing act between reality and appeasing his political backers, but that's just not how it works. His sole function here is to appeal to his base and shore up those beginning to believe that he's the empty suit that he is.
 
#37
#37
I honestly don't understand the refining problem. I saw an interview with Richard Branson and he said he looked into building a refinery, but they weren't profitable enough an enterprise for him to build one.

...that makes very little sense. Seems to me if refining capacity is the problem there would be a hole in the market to fill with another refinery. Maybe it had something to do with the cost of permitting, gov. regulation, etc. I don't know. It just seems like this shouldn't be a problem. We need more capacity, someone should build another one.
 
#40
#40
BigPapaVol said:
do you, in all honesty, expect anything different?

I'd like to think he is forced to play a balancing act between reality and appeasing his political backers, but that's just not how it works. His sole function here is to appeal to his base and shore up those beginning to believe that he's the empty suit that he is.
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No I know exactly what we'll get. It's a set up. He'll propose stuff he knows won't get passed and then blame Republicans for the economy instead of taking any responsibility.

I'm torn between believing 1) he knows what will grow jobs but it doesn't fit his ideology and 2) he doesn't know what will grow jobs. Either way the bits that have leaked so far are weak sauce.

What makes it more galling is the constant toggle between calls for non-partisanship and vicious partisan attacks. It's so intellectually shallow that it drives me bonkers.
 
#41
#41
Typical of Obama's life the last 6-7 years. This guy is all style and little substance.

Think about it, folks. We are spending more time worrying about what Obama will say about creating jobs than what he has actually done to create jobs.
 
#42
#42
I'm getting really nervous about his re-election.

I'm honestly having a hard time finding people who are willing to work because they've got months left of unemployment. I have people applying all the time saying they want to work under the table. When I say I don't operate that way, they just never show up for the interview.

The government is creating a society where it's easier to just stay home and get paid.
 
#43
#43
NEOCON said:
I'm getting really nervous about his re-election.

I'm honestly having a hard time finding people who are willing to work because they've got months left of unemployment. I have people applying all the time saying they want to work under the table. When I say I don't operate that way, they just never show up for the interview.

The government is creating a society where it's easier to just stay home and get paid.
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Bread and circuses.
 
#44
#44
volinbham said:
The Bingo card is quite accurate. Just needs "oil and gas companies" and "corporate jet owners" to be complete.
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Word is that Obama will ask congress for $300b to pull a rabbit out of the hat.

Didn't work when they gave him $900b, why would it work this time?

I've heard a couple of sound bites from Reid and Pelosi already blaming repugnicrats if they block the new (old) Obama initiatives that he will be proposing whenever he can fit his speech in between republican debates and nfl football games.
 
#45
#45
Obama proposing 300 billion should be met with the proverbial tomatoes from the crowd.

Nothing he has done has spurred the economy. Trillions have been spent, and he're we are today as bad off as we were 3 years ago. "But wait!!!" I'm sure we'll be told. "This time unemployment will really drop!! "

Failed policies and an ego so big to continue with them.

Thing is, I think many people have lost faith in this economy rebounding any time soon. Regardless of what actions are taken.
 
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#46
#46
Seems like there are jobs out there, but you just have to go get them..July job openings 3.23M vs 3.17M in June: BLS
 
#47
#47
TheDeeble said:
Obama proposing 300 billion should be met with the proverbial tomatoes from the crowd.

Nothing he has done has spurred the economy. Trillions have been spent, and he're we are today as bad off as we were 3 years ago. "But wait!!!" I'm sure we'll be told. "This time unemployment will really drop!! "

Failed policies and an ego so big to continue with them.

Thing is, I think many people have lost faith in this economy rebounding any time soon. Regardless of what actions are taken.
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Wait, I thought Stimulus advocates felt $1T was too small. How on earth with $300B be sufficient?
 
#48
#48
volinbham said:
Wait, I thought Stimulus advocates felt $1T was too small. How on earth with $300B be sufficient?
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As it so happens, the number is irrelevant to the stimulus advocates. According to these Keynesians, their theory is never wrong. Stimulus failed? "It was sound policy, but it just wasn't big enough."
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