It's not "our oil"...

[SHRED]

...never will be.

The "drill baby drill" crowd is really cheering on international oil corporations.


Drilling For Oil Doesn’t Reduce America’s Dependence On Foreign Oil
October 27, 2011By Ray Medeiros

The Republicans for years have told the U.S. citizens that we need to drill for more oil in order to get off our dependence of foreign oil. The problem with this is idea is that all oil goes into the global market. All American oil is sold through the Chicago Mercantile Exchange.

The CME brings our oil, an American natural resource, onto the global market to be sold on behalf of the corporation that drilled it. In fact, America has been exporting millions of barrels a day. In 2008 the United States exported 1.7 million barrels, up from 1.048 million in 2004 according to Index Muni.

Oil that is extracted from the United States does not stay in the United States. What drill, baby, drill does is increase the amount of oil Exxon can extract, then export and sell, period!

http://www.politicususa.com/en/drilling-for-oil-doesnt-reduce-americas-dependence-on-foreign-oil

For example:

Chesapeake Energy, China team up for Niobrara play
By Business Report staff

February 1, 2011 –
OKLAHOMA CITY — Chesapeake Energy Corp. and Chinese oil giant CNOOC Limited have agreed to work together to tap oil from the Niobrara shale formation in Wyoming and Colorado.

Chesapeake announced Sunday night that CNOOC International Limited, a wholly-owned subsidiary of CNOOC Limited, will purchase 33.3 percent undivided interest in Chesapeake’s 800,000 net oil and natural gas leasehold acres in the Denver-Julesburg (DJ) Basin in northeast Colorado and the Powder River Basin in Wyoming.

CNOOC, China’s largest offshore oil and gas producer, will pay $570 million in cash at closing. In addition, CNOOC has agreed to fund 66.7 percent of Chesapeake’s share of drilling and completion costs until an additional $697 million has been paid. Chesapeake expects that to occur by year-end 2014.

http://www.wyomingbusinessreport.com/article.asp?id=55837

[Jnana]

1. Nevertheless, commodity prices are a function of supply and demand.

A developing world requires energy and in 2011, fossil fuels provide the planet with 80+% of its energy. Wind, water and solar may be future replacements, but the world requires fossil fuels to meets its present energy demands.

[bvar22]

2. I like to use that in "discussions" with the conservative types in this area,

...and they are plentiful here in Rural Arkansas.
I take care to be gentle, and avoid hostile oppositional stances
because they scare easily. I have found the indirect approach to be more productive.

"You know, American Oil is SOLD by the Oil Corporations on the World Market to whoever pays the most,
even to Communist China" will usually gets a reaction. "If you don't believe me, check it out yourself."
This "Free Market" stuff is BULLSHIT. The BIG Corporations need to be controlled!"

When possible, I follow with,
"You know, I could understand going to Iraq and taking their oil IF the American people got that oil.
But WE don't.
WE pay for the WAR with the Blood of our Children and our TAX money, but the OIL is given to the BIG Corporations who SELL it to whoever pays the most, even Communist China.
If WE are lucky, they will sell some of that oil back to us for a BIG profit.
So WE regular Americans get to PAY for that oil TWICE.
We really need to do something about these BIG Corporations.
There should be LAWS against this shit.
We regular Americans are getting SCREWED."

Another good one:
"You know, When Sarah Palin was Governor of Alaska, she Raised Taxes on the Oil Corporations,
and used that money to Run Alaska, and had enough left over to send everyone in Alaska a BIG CHECK.
Now THATS what I'm talking about. Our government in Washington should do the same thing!"

Very few of those I'm talking to realize that when they agree (and most do)
they are advocating FOR More Regulation and a redistribution of Corporate Wealth (Socialism).

One step at a time.



Solidarity99!
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