If the U.S. allows more oil drilling would we export the new oil or use it domestically?

Why are we exporting oil when oil companies are crying shortages? How much of the new found oil would be exported? What's the point of drilling if the oil companies will be exporting it ?If the U.S. allows more oil drilling would we export the new oil or use it domestically?
We should keep it here but to tell you the truth it would not matter scince more suplly means the price drops. Ethier way if we do not start now. we will be in big troubleIf the U.S. allows more oil drilling would we export the new oil or use it domestically?
The market for oil is a worldwide market. Whether we use the oil domestically or ship it overseas it will reduce the price of oil in total.





It will probably be more economical to keep the oil here as the shipping cost will be lower so you would expect that most of the oil will be used here. The only problem would be if we didn't have the refinery capacity to create the oil products we need. If we don't we may need to ship the oil to foreign refineries and then reimport it.
Its sold on an open world market like all crude oil is. The point is that it increases the competition among suppliers to sell it to Japan, for example. Once Japan buys its oil, the other hypothetical supplier then has to work harder to peddle it elsewhere, now under pressure to cut the price.





A second advantage of domestic production is that it can't be cut off for political reasons like the Arabs did in the early 70s in retaliation for our support of Israel in the Yom Kipper War.
If we allow more drilling, it won't change a thing other than how much public land we've leased to companies who aren't drilling on that land.





Seriously, if you have some cheap, shallow wellsites in your pocket that you are willing to lease cheaply and where the production cost averages out to 7 bucks a barrel or less, then you will have them knocking down your door to drill (and if you don't strike a deal, they will try to find a way to take it from you and maybe even kill you).





Otherwise, there are wells already drilled here where the extraction cost averages out to about 35 bucks a barrel that aren't being exploited, and there are millions of acres of public land leases where oil has already been discovered and nobody has moved to drill in decades, and billions of acres of oceans and seas. If every available drilling rig out there worked round-the-clock shifts and drilled on every available lease, our the oil companies couldn't drill it all in in 30-40 years.





As things stand, they ';promised'; (under threat of losing leases) to drill one well a year on the leases adjoining ANWR starting in 2015, so in 2022 (if they don't change their mind for the 23rd time) you just might see 7 new wells on the North Slope.





Hahahaha.
The oil companies are free to do as they wish with the oil drilled here.....although, since we are the worlds largest consumer it would mostly be sold here (at market price, not hometown discounts)





One of two things would have to happen however. A) we increase refinery capacity or B) we outsource refining





So we would ulitmately go from being dependent on the oil to being dependent on the refining of said oil.........lowering demand, finding alternatives and focusing on issue we can in fact control is a much better strategy.
We would export it. Think about how far ANWAR is from our refineries in the Gulf of Mexico. And even if we refined it in Alaska, we would still have to ship it through Canada. Geography is proof enough that domestic oil we drill for will be shipped away and we will still be totally dependent on foreign oil.
Both probably, but the world price would come down. And I would hope that we could stop getting oil from unstable countries that really don't like us.





The oil companies are exporting oil to make money. Selling their oil here doesn't make them much at all because of all the taxes and regulations that they are buried in.





If they let them dill in ANWR and Offshore, loosen some of the wacked enviro policies. We could lower the price, not have to import 1 damn drop from the Saudi's and have enough to last us 20 or more years. All the while, perfecting alternative fuels.





It's the smart and sensible thing to do.





What is worse? Exxon 40 billion or Saudi Arabia, 72 billion?





Drill here, Drill NOW





Sign it





http://www.americansolutions.com/





US oil production is at its lowest since the 1940's


http://tonto.eia.doe.gov/dnav/pet/hist/m鈥?/a>


China and Asia are growing like fire.


Simple to understand.
I think it is a matter of simple economics if the supply goes up the price goes down no matter what we do with the oil. I, for one, think we should just use it domestically and let the rest of the world pay OPEC'S greedy prices.
it will be determined by free markets


but the more the better for everyone





hugs!