Oil Price Dribbles from Facebook

Jon Edwin Pittman

4 hours ago

all these oil conferences I work... seems like business is great and there is plenty of oil. why is gas over $4 a gallon? who am I paying when I fill up? Tom I know you got some info on this... — with Tom White.

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Daniel Guzman Their Misters, beach house, vacations every few weeks, etc.

4 hours ago · Like

Megan Valenti Because oil companies don't control the gas prices....and if the Government doesn't let them drill then we are exactly where we are at now.

4 hours ago · Like

Jon Edwin Pittman they are drilling all over the place. esp texas, and they are trying to figure out how to get more pipeline to all this oil they are finding. and the oil companies dont control the price per gallon, but they do choose how much they sell their barrels for... now the gov reflects these prices and adds their taxes. so I pay the oil company, AND the gov when I fill up... my money doesnt help their debt, but their debt hurts my money. somehow we are all ok with this. I can almost hear them laughing as I fill up to get to work, to make money, which I pay taxes on. techically paying them twice.

3 hours ago via mobile · Edited · Like · 1

Rik Paul Electric car.

2 hours ago · Like

Megan Valenti Yes Texas is busy...but for the most part pipelines are used for gas not oil. Oil can be hauled by trucks and gas (in the form that comes out of the ground) cannot. What you pay for at the pump is taxes, transportation of the product, processing of the product that comes out of the ground, etc. Upstream companies, the ones that explore and drill for oil and gas, spend millions of dollars on drilling per well. On top of that they pay all the land owners for use of their land and royalties on the products produced, which equals millions of dollars (millions sometimes paid to individual owners in some areas). The companies also take all the financial risk involved with drilling which there can be many. The whole process involves a lot of hands and a lot of money paid out...which is most definitely monitored by the government. They say where you can drill, how you can drill, how deep you can drill, and how much you can produce in a day. Everything is regulated! And yes is almost like paying them twice!

2 hours ago · Like

Jon Edwin Pittman I wish the gov would concentrate on a resource they couldnt start a war over...

about an hour ago via mobile · Like · 1

Tom White All this drilling is happening because of the price of oil. These conferences that are the bulk of your business is there because of the price of oil. If the price of gasoline were to drop to $2 per gallon, you and I and a great number of people in t...See More

15 minutes ago · Like

Jon Edwin Pittman Thats what I was waiting for... I am thankful for the work and all that makes a lot of sense, I think I would just rather pay the oil companies for all the work of drilling, importing and exporting, than pay the gov as well for basically being a middle man. And my Audi takes premium gas only, so im def feeling that pain. Lol

7 minutes ago via mobile · Like

Tom White Also, no matter how much we drill domestically, we will not reduce our dependence on foreign oil by more than a few percentage points. It sounds nice to say we should concentrate on foreign affairs based on things other than oil. But free market access to the oil that drives America must be secured as a national priority. If America didn't secure access to oil from Venezuela and the tankers quit giving us our fix, America would see severe rationing, rolling blackouts, and a generally pissed off citizenry. Heads would roll. Then everyone would understand the importance of America's foreign policy as it relates to oil.

5 minutes ago · Like

Tom White, PMP

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