TYT: If We Drill in the US, We Don't Get the Oil

[ihavenobias]

By Cenk Uygur

One thing has been driving me crazy about this drilling debate -- everyone seems to assume that if we drill for oil in the US, that we will get the oil. And hence, we won't be dependent on foreign oil anymore. But we won't get anything, Exxon-Mobil will.

The oil that comes from that drilling will not be United States property (Republicans aren't suggesting we nationalize the oil companies, are they?). It will be the property of whichever oil company got the rights to that contract. They can then sell it to whoever they like -- and they will. They will sell it on the world market, so the Chinese will have just as much access to the oil that comes out of the coast of Florida as we will.

The Democrats have done a decent job of beating back the argument that this will effect prices in the short run, or even in the long run. But no one has addressed the point above. The Republicans make it seem like we won't be dependent on foreign oil -- and that prices will go down in the US -- if we have our own oil. But it won't be ours. And it will be sold on the world market, so its effect on global oil prices will be even smaller...(For the rest, )
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[liberal N proud]

1. Share that with all your friends who think we must drill now

[CherylK]

2. K & R and I will!!

[ihavenobias]

5. Great idea. In fact I'd share it with everyone, because it's a great way to frame the issue n/t

[OhioChick]

3. K&R

:kick:

[pampango]

4. Keeping any new domestic oil in the US wouldn't lower gas prices anyway.

If more domestic oil made us think that we could pay less for a barrel, guess what would happen to all that oil that we import now. If we decided that, because of our new-found supply, we were only going to pay $100 a barrel for the imported oil that we still needed, foreign oil exporters would just sell their oil to Europe or Asia or anywhere else that would pay the going rate of $130 or $140 a barrel. To import any oil we are going to have to pay as much as anyone else.

Unless this new supply of domestic oil is going to make us totally independent (we know that is a joke) and we wanted to build a big "oil containment" wall around the country, the price of oil is going to be whatever the price is set in the world market. Now if suddenly huge new supplies of oil were suddenly being produced (anywhere in the world - here, Canada, Venezuela, Indonesia, etc.) the price of oil would go down, but that isn't going to happen.

Oh, and if farmers start growing more corn in the US (rather than drilling for oil), they will be paid whatever the world price for corn is. You could enact legislation that only allowed them to sell in the US or in their state or in their county or in their town, but that probably wouldn't go over very well.

[gateley]

6. This is another fact that the pro-drilling people fail to mention --

along with the fact that it won't even lower our pump prices in the foreseeable future.

Recommend! And it DOES need to be passed along - people are being lied to.

[DWilliamsamh]

7. ki-ki-ki-kick IT (& recommended as well! :-) )

[pleah]

8. K&R

[Oilwellian]

9. We're already exporting gasoline & diesel

The oil we produce is full of sulphur and requires a great deal more refining before the gasoline would meet our environmental standards. Instead, the oil companies are selling this shit gasoline to other countries with lower environmental standards. If they were to start refining oil from here for our consumption, there's no way the price would go down simply because it would be more costly to the oil companies to meet our environmental requirements.

It's all a scam and only allows the oil companies to profit more off of this crappy low-grade gasoline.

[Cant trust em]

13. Ironic that with all of these record profits there apparently still isn't enough money

to retrofit or build new refineries.

Is anyone buying the oil companies' line anymore?

[Cha]

10. Oh yeah, that makes sense..

mess up our environment so exxon-mobil can make some money.

What's john mccain's agenda? Does he have a secret deal with the oil companies?

[ihavenobias]

12. A lot of them do n/t

[navarth]

11. K & R

[defendandprotect]

14. That's been going on for like 20 years/???

Dems tell the people the truth -- but the media helps the Repugs hide it --

Democrats should get much noisier about releasing oil from the Reserves ---

and we should be noisier about NATIONALIZING oil industry --- and electric cars ---

and/or compressed air cars --

[truedelphi]

28. Boy am I with you on all those points. n/t

[ihavenobias]

30. Ditto n/t

[IDemo]

15. Please don't let economics and common sense impede repub talking points

And remember: Obama caused high gas prices, and Bush brought them back down! :wtf:

[ihavenobias]

16. You know, I hadn't thought of it that way

I guess you're right :(


;)

[CherylK]

17. Bump!

[ihavenobias]

18. Thanks

:)

[CherylK]

19. Any time!

:D

[gateley]

20. Kick! nt

[ihavenobias]

21. Thanks

:)

[lib2DaBone]

22. Amen. Can Anyone Tell Me...?

Does ANYONE know where the oil from the Alaskan Pipeline goes? I have called CONgressmen, Press & LIbraries. NO ONE can answer that question? Asking where the Alaskan Pipeline OIL has gone, is like asking what happened to the local school funds from the State Lottery? Excess profits from State Lotteries are supposed to fund schools, correct? But every time you ask someone... their eyes glaze over and they look at you with this DEAD STARE? (Like lookling into the botom end of a gas-station Coke Cola Bottle) Ask about State Lottery Funds and Schools and you will get this Zombie Look that strikes fear into the hearts of the even most persistent. Hummma Hummma Hummma


Now Beaver... I want you to tell me what happened to all that oil from alaska and all that Lottery Money?

"Well gee dad.. Wally said we'd all get to share the Oil and then Eddie Haskel said we need to drill for more? Me and Lumpy are gonna go catch frogs 'cause that is the best thing."

[CherylK]

23. Bump!

[Canuckistanian]

24. The oil companies have already said as much

One representative has already said that if ANWR were drilled, most of it would be going to Asian markets anyway.

And the effect on the international spot market price would negligible.

[ihavenobias]

25. Yep n/t

[AZBlue]

26. Even if we got it all, there's NO control over pricing. That's the real problem.

That and speculation should both be seriously regulated.

[ihavenobias]

27. I can't argue with that n/t

[truedelphi]

29. People need to understand this.

I suspect that some of the black op budget was used to help bring the cost of oil down several dollars a barrell to coincide with Bush's exectuive order that allows for the wholesale drilling of the oil in our National Parks and along our ocean fronts.

So now the media is screeching that - see - it does do immediate good to start with the process of drilling up our environment's sacred spots.