3 ways to immediately lower gas prices!

[The Blob]

V8,

I work fields in the Gulf so I don't know a tremendous amount about those gas plays other than I wish I owned some land up in north LA right now.

On a Bbl oil equivalent basis north LA outproduces south LA and has done so for a few years now, I think.

Lots of regular folks getting mighty rich just by owning land in the right place at the right time.

It's always the other guy, though.

[The Blob]

Originally Posted by Turbo RX-6

Are the oil companies really not exploring or drilling on all these millions of acres that the Dems keep saying they have to explore, or is that just bs, and the companies aren't drilling because they know there's no oil there?

It doesnt make sense from a business stand point to buy oil when you could drill for it, unless it was dirt cheap, that's no longer the case, I would think if there was oil on all this land they have they would be drilling the hell out of it.

Exactly.

Do you really think that with record high prices companies would not be drilling for everything they could? It makes no sense.

Either they think there is no oil on those leases or it would be too expensive to get it.

There is no conspiracy.

Also, I've heard that this rhetoric that it would take ten years to get the oil if we drill is just that, and it could actually be as little as a year, but no more then five.

Ten years sounds awfully high to me, too.

How long did it take to get Prudoe (sp?) Bay on line. ANWR would be less than that because there is already some infrastructure.

I also think the people who want to abolish the reserves mean just that, get rid of them and don't ever refill.

I think that would be a bad idea... but that's just me.

How many times have you heard people say about the stock market "but it's different now" to justify some risky behavior. Then it turns out it's never different.

[V8Assassin]

Originally Posted by The Blob

V8,

I work fields in the Gulf so I don't know a tremendous amount about those gas plays other than I wish I owned some land up in north LA right now.

On a Bbl oil equivalent basis north LA outproduces south LA and has done so for a few years now, I think.

Lots of regular folks getting mighty rich just by owning land in the right place at the right time.

It's always the other guy, though.

LA has great mineral laws. Over there if you own a piece of land and pay taxes for 10 years, you are entitled to the minerals whether no matter if there was a mineral reservation or not provided it has not been drilled during the 10 year period. Thanks Napoleonic Code, conversly in MS, AL, TN, TX, and most other states you can reserve minerals forever. Odd, the landowner has to pay the taxes the entire time, but the mineral owner gets away with never paying a tax. It has gotten almost impossible to buy land and get the minerals here, usually the landowner gets screwed in the deal. A bank or some other "non-local" interest owns the minerals as a result of "aggressive tactics" way back when folks didn't know any better, and in the end the landowner sees nothing except damage to his land. The system in LA makes much more sense and actually favors the taxpayer.

Royalty acreage around Shreevport in the Haynesville has gone throught the roof. Local landowners are cashing in for huge amounts and still retaining enough interest to make them very wealthy if they actually put a well on their place.