Originally Posted by defcon11
http:///forum/post/2769683
correction, the oil companies have access to millions of barrels more that are put on the world market and sold off to other countries. We don't keep anything unless it is extracted by a nationalized oil company, owned by us the taxpayers. Kind of like what Jugo Chavez did in Venezuela
. Don't get me wrong, I don't like the guy. But when he kicked out the oil companies and nationalized the resources Venezuela was able to become "energy independent". Kind of makes you think.
You did point out a misnomer, (that i didn't use) of course it will be sold on a world market. And oil will leave the usa. and money will come in.
I don't see what the problem is. Oil companies will hire people, buy stuff, pay people, and those people go out and buy stuff, pay for stuff and so on and so forth. It is called capitalism.
Much of it won't leave the states. It is significantly cheaper to just pipe the oil, vs tanking and shipping the oil in, in the long run. More capitalism.
hugo chavez didn't make venezuela energy independent. He let "oil companies" build everything, then when they were close to done, he stole it.