The price of gas

I agree that refining capacity has been impacted by various enviornmental
regs. These haven't affected drilling (and hence production) much though.

Mike
MU-2
"Tom Sixkiller" wrote in message
...

"Peter Gottlieb" wrote in message
et...
This doesn't sound right. Are you saying the "EPA and others," meaning
government regulation, reduced the oil well reserves?

Reserves (from the time) and known resources are much higher than what
we're
extracting.



"Tom Sixkiller" wrote in message
news

Production peaked due to interference by EPA and others, not due to
availability or resources. IOW he was right for the wrong reasons.

"Mike Rapoport" wrote in message
nk.net...
I agree that refining capacity has been impacted by various enviornmental
regs. These haven't affected drilling (and hence production) much
though.


Environmental regs haven't affected drilling? Are you kidding?

"Tom Sixkiller" wrote in message
...

"Mike Rapoport" wrote in message
nk.net...
I agree that refining capacity has been impacted by various
enviornmental
regs. These haven't affected drilling (and hence production) much
though.


Environmental regs haven't affected drilling? Are you kidding?



Let's see...where have I been. I was an energy analyst for about a decade
and since then I have made a reasonable living investing in energy
companies. Where have you been? Listening to AM radio?

Mike
MU-2

"Mike Rapoport" wrote in message
ink.net...
"Tom Sixkiller" wrote in message
...

"Mike Rapoport" wrote in message
nk.net...
I agree that refining capacity has been impacted by various
enviornmental
regs. These haven't affected drilling (and hence production) much
though.


Environmental regs haven't affected drilling? Are you kidding?



Let's see...where have I been. I was an energy analyst for about a decade
and since then I have made a reasonable living investing in energy
companies. Where have you been? Listening to AM radio?


I don't get a good AM signal here.

Do your energy companies have to abide by more and more, or less and less
environmental regulation? Is it easier or harder to drill now than it was
back 30 or so years ago?

Ask your energy companies how mush they do new drilling now than they did in
years past.

Are you always so goddamn pompous?

"Tom Sixkiller" wrote in message
...

Do your energy companies have to abide by more and more, or less and less
environmental regulation? Is it easier or harder to drill now than it was
back 30 or so years ago?

These don't seem like useful comparisons. Many environmental regulations
came about because of eggregious pollution cases so some of the regulation
is due to their own irresponsibility in the past. I do not believe the
present corporate quarterly-results-driven culture would do much better.
Also, the push to enact legislation limiting their liability makes it look
like they want the profits without the responsibility.

There is virtually no industry which is not more regulated than it was in
the past. This is a fact of life in virtually every country. You can spend
your life complaining about and fighting it or you can adapt and deal with
it. It is left as an exercise to the reader as to which one will work out
better for you.

"Tom Sixkiller" wrote in message
...

"Mike Rapoport" wrote in message
ink.net...
"Tom Sixkiller" wrote in message
...

"Mike Rapoport" wrote in message
nk.net...
I agree that refining capacity has been impacted by various
enviornmental
regs. These haven't affected drilling (and hence production) much
though.


Environmental regs haven't affected drilling? Are you kidding?



Let's see...where have I been. I was an energy analyst for about a
decade
and since then I have made a reasonable living investing in energy
companies. Where have you been? Listening to AM radio?


I don't get a good AM signal here.

Do your energy companies have to abide by more and more, or less and less
environmental regulation? Is it easier or harder to drill now than it was
back 30 or so years ago?

That isn't the point. The point is whether or not enviornmental
restrictions have had a meaningful effect on depressing drilling activity.
Obviously they have had some effect. The main depressent on drilling has
been the need to go deeper and deeper to find less and less.

Ask your energy companies how mush they do new drilling now than they did
in
years past.

See above. Budgets are up across the industry due to better pricing but
drilling will never reach the levels of 40 yrs ago simply due to the fact
that the resource has been largely exploited in the US.

Are you always so goddamn pompous?


Only when I am dealing with a jackass who considers himself an expert of
everything.without knowing anything about the subjects he pontificates on.
Face the facts, you have absolutely no idea what the cost or effect of
eviornmental regulations is on O&G drilling. Industrywide they are a
rounding error.


Mike
MU-2

"Mike Rapoport" wrote in message
nk.net...

The source you asked for:

http://smartmoney.com/aheadofthecurv...story=20040521

BTW, he's doing a correction that the "Quadrillion" BTU's should have been
"Billion".

Luskin is just talking his book. A lot of what's in the article is
distorted half truths like the reserve information.

Mike
MU-2

"Tom Sixkiller" wrote in message
...

"Mike Rapoport" wrote in message
nk.net...

The source you asked for:

http://smartmoney.com/aheadofthecurv...story=20040521

BTW, he's doing a correction that the "Quadrillion" BTU's should have been
"Billion".