How much money will WE get for OUR oil that Obama wants to drill? Simple question.

[grahamhgreen]

Because, I want enough to pay for everyone's Medicare for ALL, retirement and college education. (Oh, and a new superfund for cleaning up the oil and nuke mess we will now be making).

Not a penny less.

HOW MUCH DO WE GET?

WE DESERVE AN ANSWER.

The offshore oil belongs to you and me.

[Oregone]

1. Obama is a fierce free-market advocate

Which probably means, only money for shareholders

[Romulox]

7. Naw, he's "Third Way"--the US will likely pay the start up costs, idemnify them from any loss

The profits will be privatized though!

[Oregone]

8. Thats more accurate, though I was trying to use his own words.

"We are fierce advocates for a thriving, dynamic free market"

[Go2Peace]

17. Classic Neo-Liberalism, crosses both party lines

[lazer47]

2. I don't know how much we will pay for our own,, but I can tell you how

much we pay Saudia Arabia, and OPEC

[kenny blankenship]

13. You will pay the world price for oil, whatever that oil find yields

be it sweet like West Texas Intermediate or heavier like Brent or OPEC. Density and sulfur content will dictate price - unless the oil find is nationalized.

I doubt it will be nationalized and used for our exclusive benefit.

[DURHAM D]

3. Probably the standard contract - 1/8 of net profits. If we are lucky. nt

[grahamhgreen]

11. That is simply not enough for me, we can do better.

[Morning Dew]

18. and fudged so the net is a loss.

[Johonny]

4. not much

it's very likely it's never going to be drilled. The oil companies have rights to lots of off shore land now and don't drill it. It's all a political game. It's just now more important than ever to work at the local level if you don't want off shore drilling, because clearly on a national level the people that don't live on the coast want it :(

[grahamhgreen]

16. The saddest thing is the oil will be sold to China or wherever and everyone thinks it's for America,

just like htey thought we'd get cheap gas from Iraq - and then it hit $5/gallon.

[Nuclear Unicorn]

5. I thought I heard...

...the Virginia leases were 50 miles offshore.

Isn't that outside internationally recognized limits? How can gov't lease something that is international?

I think the UN should only be ones to issue leases and collect revenues...especially since GOP hatemongers hate the UN. Why should their oil buddies get money to donate to them. Give it to the UN where it will do some good.

[grahamhgreen]

12. It's a minimum of 200 miles - link

http://en.wikipedia.org/wiki/International_waters

[Nuclear Unicorn]

14. Thanks for the clarification...

...I still like my idea about giving the money to the UN better, though.

:D

[grahamhgreen]

15. It's our oil. Let's set up single-payer, expand social security, have free education, and

set up a superfund for the cleanup, and mandate all the profits go into renewable energy - or it's a no-go.

[Winterblues]

6. I think there are Lease and Royalty fees but we don't sell the oil

Alaska took half of the royalties it earns from oil and places it into a "Permenent fund" for all it's citizens. Every year one half of the interest from that fund is divided up among all Alaskan residents. The other half is used to fund State government. It is a pretty slick system but I doubt other states or even the USA as a whole is anywhere near that progressive.

[Tailormyst]

9. We get nothing and the oil companies can sell the oil to the highest bidder

Did you expect anything more?

[Newest Reality]

10. The Investor Class

wins.

The ownership society rents or sells what's left of everything to us if we are in a position to afford it.

We are livestock, don't you know? The pretty facade is falling off the stalls and gates and feed troughs.