Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (329)	6/15/2008 12:36:26 PM
From: Road Walker	Read Replies (2) \| Respond to of 86355

I've shown you that a list of oil companies (you can read their names at the sites i posted) paid the federal govt $3.7M in the March 2008 round of bidding. Can you imagine them doing that if they don't intend to do something with those leases? "A list... $3.7Million"? Chump change. You know how many $Billions those companies made just last quarter? It's the "bonus payment" not the lease payment. A lot of seismic data is available on the GOM, but there is still an awful lot of study that goes into deciding where to target the drill well. Even the existing publicly available data is not free. There are companies whose business is selling that info. Bidders do not have drill targets designated before leasing. Why spend the money doing that work when they may not get the bid? Leases go to the high bidders - no one knows they will be the high bidder till the MMS announces them. They know the potential of ever square foot of the GOM. You keep talking about efficiency as if its something the government needs to and should enforce on everyone. And no one is "focusing" on efficiency now. Efficiency is already being focused on by every consumer and the higher prices go the more they will focus on it. If we were not in crisis mode, and if people were paying the true cost of inefficiency, I would probably agree. But because of oil subsidies and years of inaction, we find ourselves in a do or die situation. It's a "war for oil independence" and the "free market" be damned, we don't have time. Give me a break. That propaganda that company's get leases for free and sit on them intending never to drill them is a lie. If a company spends millions to get a lease and I've shown you they have done so, they will drill it unless they conclude there's no economically recoverable reserve there. Give ME a break. $3.7 million from a "list" of companies? Listen; it's obvious that this is such a political issue to you that you will never buy into disincenting inefficiency and incenting efficiency. I'm giving you guys everything you want because the country is in deep trouble... but you are so stuck on you ideology that you won't even talk about the other side of the coin, the one that could make by far the most difference. I'm done... you've heard what I had to say and your mind is too small to grasp the solutions.