kgriggs Wrote:
Jul 13, 2012 11:58 AM
What is the problem with making these wildly profitable, already taxpayer subsidized, multi-national oil companies competitively bid for these leases and pay top dollar, when we have deficits to reduce? While an "all of the above" energy policy is a good one, Increased oil production from U.S. lands in and of itself is not a path toward energy independence. Once the oil is out of the ground, it's part of the global market for this fungible commodity, so there's really no such thing as "domestic" or "foreign" oil, except for the domestic jobs, which are welcomed. A barrel of light sweet crude gets sold to the highest bidder, whether they be in the U.S. or China.