Isn't oil a commodity that's traded on the international market?

MrScorpio

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Thu Aug-07-08 01:50 PM
Original message

Isn't oil a commodity that's traded on the international market?

Edited on Thu Aug-07-08 01:54 PM by MrScorpio

And even if we drilled for more oil, off-shore and the like, doesn't that mean that the US doesn't have exclusive rights to it?

Our oil can go anywhere?

Instead, if we focused on increasing energy efficiency, that would make oil cheaper by contrast because we're using less of it?

Sure, I'm no expert in economics, but when it comes to Republicans, it's not hard to smell bullshit.

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Puzzler

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Thu Aug-07-08 01:51 PM
Response to Original message

1. That's correct!

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WannaJumpMyScooter

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Thu Aug-07-08 01:52 PM
Response to Original message

2. sure, raed this...or better yet read it

Edited on Thu Aug-07-08 01:53 PM by WannaJumpMyScooter

http://uk.reuters.com/article/oilRpt/idUKN0325640920080703

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annabanana

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Thu Aug-07-08 01:57 PM
Response to Original message

3. "WE" wouldn't be drilling at all. . . . Exxon, or Shell, or BP, or

Chevron would be drilling. What they got would be their oil, not "ours". We would have to stand in line behind the Chinese to buy it, just like everybody else...

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RB TexLa

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Thu Aug-07-08 01:57 PM
Response to Original message

4. Whoever extracts the oil owns it, the landowner is compensated by royalties

the land owner has no say in where someone sells their oil. Except for where I have a working interest in a well I have no say and neither would the federal government in what happens to what is extracted.

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rainy

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Thu Aug-07-08 02:30 PM
Response to Original message

5. I posted about this earlier today but I don't know how to link it here.

Thanks for including your article it helps make the point. Check out the responses to my thread earlier today in GD titled: Is this true? If so what the H have we been talking about, if we drill we don't get the oil?

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Muttocracy

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Thu Aug-07-08 02:36 PM
Response to Original message

6. yep!

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