Originally Posted By: Trvlr500
I understand your point. If someone owns a ranch and they discover oil on it then the owner of the ranch should be able to do what he wants with his oil.
I'm referring to the oil in our gulf and the oil in the Balken as well as the oil in Prudoe Bay and on the north slope.
If this so-called oil shortage REALLY exists, which it doesn't, then it would stand to reason we keep OUR resources here for OUR use and since the only oil shortage is a contrived shortage then we should still do the same to get the price of OUR fuel down.
In the event of a major war, then all imports and exports of oil and other strategic commodities would be controlled. Since there is no major war, there is no reason to control imports or exports.
As for oil on the Continental Shelf, or other public lands, oil companies pay billions every year for the right to drill, plus they pay royalties for every barrel they produce. Once the government sells those drilling rights, the oil belongs to whoever takes it out of the ground. After something is sold, it no longer belongs to the previous owner.
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My point is that if we have gas at $4.00 a gallon and it is crippling the economy then our government should step in a do something that is in OUR best interest for a change instead of the interest of the global community, the central bank and Wall Street.
Absolutely the government should do something -- or rather, it should stop doing all the things it has been doing to prevent the production of oil, coal, and natural gas. I could make a list, and it would be a long list.
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They could easily set aside oil found in our gulf, the Balken or up in Alaska then drill for it, refine it and use it strictly in this country. Doing something "in house' always saves money as any business owner knows.
You know, of course, that a lot of gasoline is exported from Europe to the US. And the US is a net exporter of distillates -- not a lot, but a little. If these distillate fuels can't be exported, then refiners would eventually run out of storage space for distillates and would have to stop producing both distillates and gasoline.
I only buy diesel, never gasoline, so I'd welcome lower diesel prices and could care less what happens to gasoline. But some other folks might be unhappy.
So maybe you ought to think about this idea again, about banning exports. It could lead to unwanted consequences, with some people at least having to pay more.