If Oil companies are drilling on Federal lands, shouldn't they be restricted to selling that oil in America?

None of the oil drilled in the United States is exported.





grump56, I should have said ';virtually none.'; And of the piddling amount that is exported, almost all is re-imported as refined products.If Oil companies are drilling on Federal lands, shouldn't they be restricted to selling that oil in America?
Depends on what currency they are getting for it, soon the whole market will be in Euro, that is what this war is about anyway, the changing of oil sales on market to Euro and not in US dollar, hence it crashes our system. Bush needed a bail out from Saddam selling oil in only Euro, so he had to invade, then Bin Laden decided to do the same, and he got invaded, now Iran is thinking of trading oil in Euro and look at what is happening. So far like over 20 countries trade in Euro's not US dollars, this hurts the economy the more they print US dollars to cover the debt they created.If Oil companies are drilling on Federal lands, shouldn't they be restricted to selling that oil in America?
in 2007 the U.S. Only exported 10 thousand barrels of oil !


(for the whole year !)


all of it exported to Canada - which is strange because Canada is our chief supplier of oil





as of April '08 Canada imports 1,952 Barrels of Oil Per DAY


into the U.S.


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Thanks Michael !


so that's 1,952 X 1,000 = 1,952,000 barrels per day


sorry, my bad


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same is true for exports


10,006 X 1000 = but still for the whole year, Not per day.


and all to Canada for some reason.
Yes they should since they are leasing the land from the Federal government.
Adam, I believe you are wrong. Yes, they should.


http://tonto.eia.doe.gov/dnav/pet/pet_mo鈥?/a> Adam is right, not much crude is exported. But check this out for products made from oil.
Yes, not only that, but that oil belongs to the people and should be sold without profit.





Also, the Oil barons are sitting on huge area of lands in the US. that they have permission to drill on, but they are hoarding, no doubt to help continue their engineered crisis and then they hope we will beg them to drill offshore and the Arctic National Wildlife Refuge. they will of course blame it all on what little regulation remains, and fail to clean up their mess, finding it cheaper to fight the court cases than to show any responsibility.
Ducky - check your numbers. 2,000 barrels a day is not a lot of oil. Ya, just found a web site. Take your number and multiply it by 1000.


http://www.eia.doe.gov/pub/oil_gas/petro鈥?/a>





Paul - it's sour crude, not salty. And you can use sour crude to make gasoline and other products, you just have to remove the sulfur through lots of hydrotreating. And you may not know exactly what kind of sulfur content you will get before you drill, but you can have a pretty good idea from the surrounding area and the geologic formations. The crude that comes from Venezuela for example, is VERY sour and also very heavy (heavy crude vs light crude refers to viscocity). The stuff from Saudi Arabia on the other hand tends to be light sweet crude.
God forbid anyone in our government do anything that makes sense. I suppose that's why they call it politics.
Oil companies shouldn't be ';drilling on Federal lands'; period.





If there is oil on/in/under FEDERALLY OWNED PROPERTY this means that it belongs to every single American tax payer.





I leave you to figure out the rest.
No. The oil companies pay the Federal government for the right to extract oil from the reserves on that land. After that it's theirs to do what they want with it.





Can you imagine if the Oil companies drilling on indian reserve lands were restricted to selling the oil on the reserve?
No. There are two main types of oil that is drilled. Sweet crude and Salty crude. We don't know what it is until we start drilling. Salty crude has to high of a sulfur content to burn because of EPA standards. So rather than putting it back into the ground it is sold for a profit over seas to nations that don't have the environmental standards that we do.
sure, and none of the products, be it refined oil or gasoline, or plastic goods, or fertilizer, or perfume, or anything else, no matter how few molecules of American oil is in it should be allowed to be sold outside the US either.





Every company no matter what they create, should have to know the origin of every single molecule of every single supply they use, in order to think about exporting goods at all.





Otherwise, death penalty for all shareholders and employees and customers.