How is drilling for our own oil going to help the US when that oil will be sold on international market?

We should be drilling, but that oil should stay in the USAHow is drilling for our own oil going to help the US when that oil will be sold on international market?
The oil companies will ship to the highest bidder, if that is America then that is where the oil will stay. So be prepared to pay more to keep the oil here.How is drilling for our own oil going to help the US when that oil will be sold on international market?
Your premise is not valid. Market forces will dictate where the oil goes, as it should. For instance, it might make more sense to buy Mexican crude oil for refining in Texas City than to ship that same amount of oil to Texas City from California via the Panama Canal. It may be better business to sell the crude oil pumped from California to the Japanese. It is called making money. It is a capitalist concept that may be difficult for those schooled at Harvard, Columbia or UC Berkley to understand.
If we need oil here it will stay here. If we actually have a surplus it could be sold elsewhere.


The purpose of this is many fold.


It shows we are serious about enrgy supply and may help ease the prices immediately. Commodity speculation is forward looking. If traders see that the supply may loosen they will not be as aggressive with their trades and the prices will ease a bit.


Trade deficit would be more positive because we would not be importing so much oil.


American drilling means American jobs.


American oil means less dependence on foreign sources that may have interest that run counter to our own. We may be less inclined to fight distant wars for resources too.


I'm sure there are more but I think those are the major ones.
competition, its what a market economy like ours is based on. At the moment we have to take oil prices for whatever OPEC makes them, There isn't a lot we can do about it. If we have more oil and sell it was now become a player in the oil market and can help to influence prices.
It will not help.





One of the many benefits of the futures market, is to maintain a more regular price rather than having supply and demand being the only influence on price.


The only thing that is going to help, is raising the dollar value.
More oil on the market will drive the price down. More importantly the THREAT of puting more oil onthe market will drive the price down - just watch and see.





To you point - if we eleminated competition to domestice suppliers they would gouge us just as bad as anyone else.
Well if we sell it and we make more money from that then the value of the dollar goes up then gas prices will go down.


As someone said its supply and demand. If we make more money selling and buying it for cheaper from another country then we win.
We need our own oil also so we are less dependent on foreign oil in war times. That is why the Federal reserve is always growing. I think we produce 3% of the worlds oil but use of 25%.....
You're right. We should just give in to the Democrats and stay dependent on foreign oil instead. Good argument.
exactly, but we can not be greedy and keep it all to ourselves because that would start a war over oil.
You are correct.
called supply and demand. look it up