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[Mike M]

I think you need your sarcasm detector checked

Well he seems to have been earnest in his assertion that we export more oil than we import...

 

[speculawyer]

http://finance.yahoo.com/blogs/daily-ticker/energy-problem-u-oil-exports-rise-174452881.html

We export more oil than we import. The US is filled with vast natural resources. We've just placed it in the hands of corporations, who feel that selling it elsewhere is more beneficial.

This is conspiracy theory nonsense. We import around 62% of the crude oil we use.

The US does have lots of coal. And we have a new revolution going on with natural gas due to the shale gas drilling.

But our oil supplies are weak. Oil production has had an uptick in the last few years because the high price of oil has opened up areas that were previously not worth drilling because they were not profitable. (Deepwater gulf, small pockets in the Bakken shale, etc.)

Conspiracy of selling elsewhere? LOL . . . they wish. Actually, the reverse is true. The WTI (USA) index has the largest spread from Brent (Europe) ever. Right now the USA is paying artificially much lower prices than the rest of the world due to the increase in Canadian oil sands oil and Bakken oil that are kinda land-locked.

 

[SoulPlaya]

What do you think gets refined to make gas?

I don't think you understand what I'm saying. Obviously, crude oil gets refined to make gas. My point, however, is that most of the imported crude oil gets refined, then is exported back out to other countries. Get it?

I believe what the article is saying, because it speaks in terms of "net" oil imports/ exports, is that we import oil, it gets refined here, and then, most of it gets exported back out. Otherwise, the article is completely wrong, because it speaks in terms of net petroleum import/export, and petroleum traditionally refers to crude oil.

 

[mj1108]

This right here. I've heard it straight from higher-ups in the oil industry.

Also, that last comment is mind-boggling. How that is allowed is beyond me.

Finally, Bachmann is an idiot. No way she can get gas below $2 unless she does end speculation, which we all know will never happen.

She is an idiot. A grade A moron in fact. I expect we end up hearing her with a lot of promises with stuff that people want to hear but with no actual plan on how to get it done. Wouldn't be surprised at all if someone asked her how she would do it and have her play the "gotcha journalism" card that Palin loves to play.

Like it's been said, they have to end speculation but there's no way a Republican would dare end speculation as that would hurt the poor oil companies profits.

 

[SoulPlaya]

She is an idiot. A grade A moron in fact. I expect we end up hearing her with a lot of promises with stuff that people want to hear but with no actual plan on how to get it done. Wouldn't be surprised at all if someone asked her how she would do it and have her play the "gotcha journalism" card that Palin loves to play.

Like it's been said, they have to end speculation but there's no way a Republican would dare end speculation as that would hurt the poor oil companies profits.

Republican? Have Democrats tried to end speculation?

 

[Piecake]

She is an idiot. A grade A moron in fact. I expect we end up hearing her with a lot of promises with stuff that people want to hear but with no actual plan on how to get it done. Wouldn't be surprised at all if someone asked her how she would do it and have her play the "gotcha journalism" card that Palin loves to play.

Like it's been said, they have to end speculation but there's no way a Republican would dare end speculation as that would hurt the poor oil companies profits.

Can someone explain why why we subsidize/give tax breaks or whatever to oil companies when they are turning in huge profits? How does that make any sense?

 

[Manos: The Hans of Fate]

I did put this in its own thread, but I figure some might have interest in the data linked in the main report.

Some nice news for once, well granted you could say stuff about the other data, but hey I'm not complaining! I guess multiculturalism isn't totally down the shitter in the US.

http://nymag.com/daily/intel/2011/08/jewish-americans_are_pretty_su.html

There's a lot of bad blood between Jews and Muslims around the world, but according to a new report by the Abu Dhabi Gallup Center, American Jews hold fewer prejudices against American Muslims than most other religious groups. Take the above chart, for example. Jews are far more likely than any Christian denomination to believe that American Muslims are loyal to the United States.

Jews are also more inclined to think that Muslims face prejudice by other Americans. Jews even seem to be more sensitive to such prejudice than Muslims are themselves.

 

[Arrowgigantic]

Can someone explain why why we subsidize/give tax breaks or whatever to oil companies when they are turning in huge profits?

Because they pay Congress for them and we refuse to burn down Congress.

 

[mj1108]

Republican? Have Democrats tried to end speculation?

Bernie Sanders introduced a bill in June.

http://www.vpr.net/news_detail/91020/

Haven't seen any updates on it since. I'm guessing the debt limit took center stage and drowned it out.

 

[Plinko]

Republican? Have Democrats tried to end speculation?

No. There were rumblings when oil was $147 a barrel but went away quickly.

Edit: I see Sanders has proposed it this year.

 

[SoulPlaya]

http://earlywarn.blogspot.com/2011/05/more-on-oil-importexport-statistics.html

This article explains the oil issue, and shows why the EIA is using sort of funny methods for their numbers. The US has recently begun to EXPORT more oil than it imports, because much of our imported oil gets refined here, and then reexported back out.

 

[SoulPlaya]

Bernie Sanders is an Independent, self-identified Socialist, who just happens to caucus with the Democrats because he has no choice. Don't you people dare dirty his good name, by calling him a Democrat. He doesn't choose to identify with them, and so I won't label him one.

 

[mj1108]

Bernie Sanders is an Independent, self-identified Socialist, who just happens to caucus with the Democrats because he has no choice. Don't you people dare dirty his good name, by calling him a Democrat. He doesn't choose to identify with them, and so I won't label him one.

I didn't post it labeling him a Democrat. I posted it since someone had proposed something to help curb/end speculation.

 

[SoulPlaya]

I didn't post it labeling him a Democrat. I posted it since someone had proposed something to help curb/end speculation.

Because he's a good man.

But the answer is that no, Democrats haven't really tried to end speculation. I'll keep harping on it, but we all need to realize that the Democrats are no better than the Republicans in so many ways.

 

[Suikoguy]

Because he's a good man.

But the answer is that no, Democrats haven't really tried to end speculation. I'll keep harping on it, but we all need to realize that the Democrats are no better than the Republicans in so many ways.

How on earth could they end it with the current house majority?
Don't try to paint a false equivalency here, because it's not remotely true.

 

[sangreal]

http://earlywarn.blogspot.com/2011/05/more-on-oil-importexport-statistics.html

This article explains the oil issue, and shows why the EIA is using sort of funny methods for their numbers. The US has recently begun to EXPORT more oil than it imports, because much of our imported oil gets refined here, and then reexported back out.

No, it still doesn't make any sense to say the US exports more oil than it imports. Okay, so the US exports more refined petroleum products than it imports. That is nice and all, but that doesn't include crude oil that is imported, refined here and stays here.

 

[Flying_Phoenix]

I did put this in its own thread, but I figure some might have interest in the data linked in the main report.

Some nice news for once, well granted you could say stuff about the other data, but hey I'm not complaining! I guess multiculturalism isn't totally down the shitter in the US.

Shakes my head:

 

[SoulPlaya]

How on earth could they end it with the current house majority?
Don't try to paint a false equivalency here, because it's not remotely true.

Did they try when they controlled the House? When they controlled both houses of Congress?

 

[SoulPlaya]

No, it still doesn't make any sense to say the US exports more oil than it imports. Okay, so the US exports more refined petroleum products than it imports. That is nice and all, but that doesn't include crude oil that is imported, refined here and stays here.

Yes, it does. The idea is that, when you take into account all oil that is had in the US, imported and made here, once that oil (both combined) is refined, more is exported than imported. It's the way that the EIA counts this oil that makes it confusing. It makes sense considering that a good deal of the oil that oil companies drill out in foreign countries must be brought to the US to be refined, because those countries don't have the proper infrastructure and equipment to refine it themselves. Thus, it is brought here to be refined, and then is reexported back out.

Exporting more than importing wasn't always the case, but since November of 2010, it has been.

 

[speculawyer]

http://earlywarn.blogspot.com/2011/05/more-on-oil-importexport-statistics.html

This article explains the oil issue, and shows why the EIA is using sort of funny methods for their numbers. The US has recently begun to EXPORT more oil than it imports, because much of our imported oil gets refined here, and then reexported back out.

No, we don't. We do export more refined product than we import since we have some excess refining capacity.

But we import far far more crude oil than we export. Period. We use around 19 Mbpd and we domestically extract around 7 Mbpd . . . the rest is imported. It is not made up of fairy dust.

That article addressed some small technical detail on the way refined exports were not being counted correctly such that net amount that we import was a little less than thought. (They were only looking at crude numbers when they actually needed to subtract the small amount of refined product.) But those refined export numbers are in the thousands of barrels per day scale . . . just a slight adjustment to the overall picture.

The graph in the document talks about WORLDWIDE exports, not USA exports. We don't export 50 Mbpd! The most we ever produced was around 10Mbpd. Although I don't understand how that graph can have worldwide exports be different from imports. Some funny numbers there.

Yes, it does. The idea is that, when you take into account all oil that is had in the US, imported and made here, once that oil (both combined) is refined, more is exported than imported. It's the way that the EIA counts this oil that makes it confusing. It makes sense considering that a good deal of the oil that oil companies drill out in foreign countries must be brought to the US to be refined, because those countries don't have the proper infrastructure and equipment to refine it themselves. Thus, it is brought here to be refined, and then is reexported back out.

Exporting more than importing wasn't always the case, but since November of 2010, it has been.

You are in Michelle Bachmann territory. You are fundamentally not understanding modern energy markets if you think that the USA exports more oil than it imports.

Think about it . . . would the USA be involved in Saudia Arabia, Iran, Iraq, etc. if we exported more oil than we import? Think!

 

[sangreal]

Yes, it does. The idea is that, when you take into account all oil that is had in the US, imported and made here, once that oil (both combined) is refined, more is exported than imported. It's the way that the EIA counts this oil that makes it confusing. It makes sense considering that a good deal of the oil that oil companies drill out in foreign countries must be brought to the US to be refined, because those countries don't have the proper infrastructure and equipment to refine it themselves. Thus, it is brought here to be refined, and then is reexported back out.

Exporting more than importing wasn't always the case, but since November of 2010, it has been.

Yes, but again the surplus you are referring to is the surplus in refined products imported versus refined products exported. The "refined products imported" in this case does not mean crude oil that is imported and refined here. This is very clear and not confusing if you just look at the numbers. Take last week for example.

Crude Oil imported: 9,285k Barrels
Refined products imported: 1,960k Barrels
Refined products exported: 2,381k Barrels

That gives you the surplus you keep citing, which is 2381-1960k = 421k barrel surplus.

That doesn't say anything at all about the 9285k barrels of crude oil which was imported (or the crude oil produced here). Some of those barrels will be refined and exported towards that surplus -- the rest will be refined and used here.

 

[Dude Abides]

More support from environmentalists at the cost of everyone else? Come on, it makes no sense logically. She has no chance, just as Bachman has no chance. I honestly think Obama will not win re-election, but if the nominee is Bachman he'd win in a landslide.

It makes no sense logically, I agree. But what makes you think asserting something, or many things, that make no sense logically means Bachmann couldn't win a GE against Mr. 9% unemployment?

No rosy view... written off. You've been infected by the diablos train, or you have a far too negative view

I don't know what the Diablos train is. What I do know is that Presidents up for re-election in times of sky-high unemployment are fighting an uphill battle, and vulnerable to even wacky opponents.

My view is that fundamentals, such as unemployment, GDP growth, and the extent of foreign casualties are the primary factor that determines elections, and individual candidate personalities only matter in elections that are within a 4-5% spread.

 

[speculawyer]

I don't know what the Diablos train is. What I do know is that Presidents up for re-election in times of sky-high unemployment are fighting an uphill battle, and vulnerable to even wacky opponents.

My view is that fundamentals, such as unemployment, GDP growth, and the extent of foreign casualties are the primary factor that determines elections, and individual candidate personalities only matter in elections that are within a 4-5% spread.

That is all very true . . . but we are in uncharted territory. If it is a world-wide economic mess (which it is) then the pain threshold goes up. It certainly won't be easy to win re-election but I wouldn't count Obama out just because unemployment is around 9%.


And Mr.9% probably can beat Bachmann. She really is fucking nuts with the gay-hate, the no-abortion even in cases of rape, the let's not pay our bills economics, lets teach creationism, etc. Moderate Republicans will vote for center-right Obama over that insanity.

 

[lazybones18]

http://www.youtube.com/watch?v=hOYhkXrRAdc

 

[Piecake]

http://www.youtube.com/watch?v=hOYhkXrRAdc

Apparently gay marriage isnt relevant. Well, Im sure the gay community will be glad to hear that.

 

[TacticalFox88]

http://www.youtube.com/watch?v=hOYhkXrRAdc

*siiiiiiiiiiiiiiiiiigh*

 

[besada]

http://www.youtube.com/watch?v=hOYhkXrRAdc

I caught that while flipping by, and the first question that popped into my mind was: Why does anyone care what she has to say, anyway? Why even set an interview up with her? She's a dismally failed candidate, who will likely never manage another run at anything worth noticing, so why the hell is CNN wasting airtime on her?

And then I remembered I was watching cable news, and it all made sense, and I turned the TV off. Stupid cable news.

 

[SoulPlaya]

Yes, but again the surplus you are referring to is the surplus in refined products imported versus refined products exported. The "refined products imported" in this case does not mean crude oil that is imported and refined here. This is very clear and not confusing if you just look at the numbers. Take last week for example.

Crude Oil imported: 9,285k Barrels
Refined products imported: 1,960k Barrels
Refined products exported: 2,381k Barrels

That gives you the surplus you keep citing, which is 2381-1960k = 421k barrel surplus.

That doesn't say anything at all about the 9285k barrels of crude oil which was imported (or the crude oil produced here). Some of those barrels will be refined and exported towards that surplus -- the rest will be refined and used here.

If that's the case, then I apologize. The original article confused me by saying that we export petroleum, which is traditionally understood to be crude oil. Detailing something as simple as finished products would include numerous things, and throw things off.

 

[Clevinger]

I caught that while flipping by, and the first question that popped into my mind was: Why does anyone care what she has to say, anyway? Why even set an interview up with her? She's a dismally failed candidate, who will likely never manage another run at anything worth noticing, so why the hell is CNN wasting airtime on her?

And then I remembered I was watching cable news, and it all made sense, and I turned the TV off. Stupid cable news.

She wrote a book, probably trying to repeat Palin's success from failure.

 

[besada]

She wrote a book, probably trying to repeat Palin's success from failure.

I know why she was on, but why does CNN want to help this pieceof fluff sell her book? Shit, I know the answer to that, too, it just disgusts me. Maybe it's time for the cranky old man to go to bed. Or read some more comics.

 

[speculawyer]

I know why she was on, but why does CNN want to help this pieceof fluff sell her book? Shit, I know the answer to that, too, it just disgusts me. Maybe it's time for the cranky old man to go to bed. Or read some more comics.

The extremists can attract attention. Their true-believer supporters want to hear the message. And the other side likes to laugh at them. Seriously now . . . why does much of PoliGAF watch the GOP debate? Most here are not going to vote for any of them. We just want to laugh at the crazy.

Damn . . . I'm guilty and I need to stop it. It is a waste of time.

 

[SoulPlaya]

http://www.msnbc.msn.com/id/44184059/ns/business-us_business/

Has this been posted? The DOJ is investigating S&P's ratings of mortgages. Please, let something come of this!

 

[Oblivion]

Hmmm....wonder why they chose those dates. 2007-2010? What was the reasoning? Why not include this year? The numbers are available. Texas added over 200,000 net jobs over the last year alone, did it not? Far above any other State.

200k in Texas for 2011? As in, from Jan. 2011 to August 2011? Source?

I sent out an email to the people interested in the website a few minutes ago: A Human Becoming, Invisible_Insane, RustyNails, besada, and Karma Kramer. If you didn't get it, let me know. If anyone else is interested in the project, pm me or one of those guys.

How the balls am I not mentioned. I offered to provide server space, even!

*throws chair*

 

[empty vessel]

http://www.msnbc.msn.com/id/44184059/ns/business-us_business/

Has this been posted? The DOJ is investigating S&P's ratings of mortgages. Please, let something come of this!

From the article:

Even though the Justice Department has the power to bring criminal charges, witnesses who have been interviewed have been told by investigators that they are pursuing a civil case.

Ugh. Can't have too much accountability!

 

[ClovingWestbrook]

http://www.msnbc.msn.com/id/44184059/ns/business-us_business/

Has this been posted? The DOJ is investigating S&P's ratings of mortgages. Please, let something come of this!

Ohyou.jpg.

 

[besada]

The extremists can attract attention. Their true-believer supporters want to hear the message. And the other side likes to laugh at them. Seriously now . . . why does much of PoliGAF watch the GOP debate? Most here are not going to vote for any of them. We just want to laugh at the crazy.

Damn . . . I'm guilty and I need to stop it. It is a waste of time.

I watch the GOP debate because those people are running for office, and there's a chance one of them could be President. But she isn't running for anything. Its perfectly reasonable to cover actual candidates, even fringe candidates. But covering ex-candidates to help them sell their books...that's not news.

My lawn, get off it.

 

[RustyNails]

200k in Texas for 2011? As in, from Jan. 2011 to August 2011? Source?




How the balls am I not mentioned. I offered to provide server space, even!

*throws chair*

You need an avatar to stand out, brohim. Only TA somedude is exempt from this law.

 

[SoulPlaya]

From the article:



Ugh. Can't have too much accountability!

And only three years late! lol

Ohyou.jpg

What? No hope?

 

[Flying_Phoenix]

This opened my eyes a true media conspiracy.

http://www.youtube.com/watch?v=hOYhkXrRAdc

To be fair though he pressed her a bit too hard and odd. Its like Fox News levels.

 

[Oblivion]

You need an avatar to stand out, brohim. Only TA somedude is exempt from this law.

edit: I haven't had an avatar since I joined (in 2005) and I'll be damned if I start now!


FREEEEEEEEEEEEEEEEEEEEEEEEEEEDOOOOOOOOOOOOOOOOOOOOOOOM

 

[Oblivion]

http://www.mediaite.com/tv/anderson...im-is-hampered-by-advantages-unique-to-texas/

There's one part of that interview that I find particularly interesting, that Republican hack, Alex Castellanos said:

Castellanos: Anderson, I want to defend Perry a little here. It (referring to the stimulus) was their money originally. Washington did take it from all the states, and you can't blame governors, Democrat or Republican for trying to get their money back.


It's sorta late, I'm starving, and thus feeling light headed, but somebody tell me why this line is retarded please.

 

[Puddles]

How the balls am I not mentioned. I offered to provide server space, even!

*throws chair*

Send me a pm with your email address and we'll add you to the email thread.

 

[Wilsongt]

In O'Donnell's defense, I'd walk out of an interview with Piers, also.

 

[Hammer24]

I´m beginning to think that Paul would make a nice Vice President.
No real power to incorporate some of his loonier convictions - but it´d be nice to send him to other countries ("Yeah, I´m sorry, we should have left you guys alone in the first place").

 

[Piecake]

http://www.mediaite.com/tv/anderson...im-is-hampered-by-advantages-unique-to-texas/

There's one part of that interview that I find particularly interesting, that Republican hack, Alex Castellanos said:

Castellanos: Anderson, I want to defend Perry a little here. It (referring to the stimulus) was their money originally. Washington did take it from all the states, and you can't blame governors, Democrat or Republican for trying to get their money back.


It's sorta late, I'm starving, and thus feeling light headed, but somebody tell me why this line is retarded please.

Because individuals pay federal and state taxes so why the hell do federal taxes belong to the state?

 

[MrGame&Watch]

I did put this in its own thread, but I figure some might have interest in the data linked in the main report.

Some nice news for once, well granted you could say stuff about the other data, but hey I'm not complaining! I guess multiculturalism isn't totally down the shitter in the US.

http://nymag.com/daily/intel/2011/08/jewish-americans_are_pretty_su.html

I have an interesting theory on this. I think Muslims and Jews brought away from all that Israeli/Palestinian conflict are actually more similar in customs and culture then they are to Christians in America. I'm culturally Jewish and have some friends who only eat kosher, but don't really give a shit if they eat something halal as an example(curb Palestinian chicken episode joke insert here)

 

[Invisible_Insane]

In O'Donnell's defense, I'd walk out of an interview with Piers, also.

{snicker}
ASK ME THE QUESTIONS I WANT YOU TO ASK ME!

On a completely different track:

NYT NEWS ALERT: Obama to Call for Assad to Step Down in Syria, Officials Say

And it only took how many civilian deaths?

 

[SolKane]

WSJ is reporting jobless claims have risen over 400,000 once more this week:

WASHINGTON—The number of people claiming new jobless benefits rose slightly last week, the latest sign of a weak U.S. labor market, while inflation resumed its climb in July as gasoline prices rebounded and food costs continued to rise. Underlying prices increased marginally.

Initial jobless claims rose by 9,000 to a seasonally adjusted 408,000 in the week ended Aug. 13, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast claims would rise to 400,000 in the latest week. Economists generally think the economy is adding more jobs than it is shedding when claims drop below that level.

Claims filed in the previous week were upwardly revised to 399,000 from an originally reported 395,000. The four-week moving average of new claims, a more reliable indicator of the labor market's recent performance, fell by 3,500 to 402,500.

A Labor Department official said there was nothing unusual in the latest numbers.

http://online.wsj.com/article/SB10001424053111903639404576516054025747710.html

 

[brucewaynegretzky]

Ok so I'm just coming here to vent:

I'm a regular Drudge reader. I like keeping up with what the hell conservatives are reading, despite being a pretty big dem. Normally I think he's actually pretty good if you ignore the crazy headline, and even that's only sometimes. But today was rather infuriating. First, the headline blasts Obama for going on vacation while joblessness goes up. Isn't this the EXACT SAME THING as when they defended Bush for going on vacation? Personally I think it was stupid to call out either Pres, they can do the most important functions of their job while on vacation, and there's no reason they shouldn't take a vacation, but to so obviously make the exact same claim is fucking retarded.

Second this article was given a pretty high position on the page, and quite honestly its just stupid. The article is flat out racist, but on top of that it just fucks up the analysis entirely. THe article talks about how only Muslims get charged with "terrorism" but completely ignores that what many would call "terrorism" can be charged with a number of crimes. It also completely ignores the obvious cases of domestic terrorism we've had this year, like the white militant militia they hunted down this year (want to say it was in Michigan, but I could be mistaken).

How the fuck does this shit pass for journalism. I always get pissed at HP for being intellectually dishonest, and I actually think Drudge is more consistent in presenting a "neutral" report despite sensationalist headlines that often will shape the readers' response. This shit today though is fucking insane.

 

[Wilsongt]

The DOW is plunging again. It is having more ups and downs than I do.